Eligibility
Who Can Buy a GFCLT Home?
Grand Forks Community Land Trust homes are designed to make homeownership possible for households who may be priced out of the traditional housing market. If you meet the basic criteria below, you may be eligible to apply.
You do not need to be a first-time homebuyer.
Basic Eligibility Requirements
To qualify for a GFCLT home, buyers generally must:
Plan to live in the home as their primary residence
GFCLT homes cannot be used as rentals or investment properties.
Live in or plan to live in Grand Forks County
Meet income guidelines
Household income must be at or below 120% of Area Median Income (AMI).
Income limits vary by household size and are updated annually.Be able to qualify for a mortgage
Buyers must work with an approved lender and be able to secure financing for the purchase.Complete the GFCLT application and education process
This includes reviewing the ground lease and understanding the shared-equity resale model.
Income Guidelines
Eligibility is based on total household income, not just the applicant’s income. Because income limits change annually and vary by household size, GFCLT staff can help determine whether your household qualifies for a specific home.
If you’re unsure whether you qualify, we encourage you to apply or contact us to talk through your situation.
What to Expect in the Review Process
GFCLT works with buyers who:
Intend to live in the home long-term
Are prepared to work with a lender
Understand and support the goal of long-term affordability
GFCLT staff are available to answer questions and help guide buyers through the process.
Frequently Asked Questions
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No. Buyers do not need perfect credit. GFCLT works with local lenders who can help applicants understand their options and prepare for successful homeownership.
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No. Down payment requirements vary by lender and program. Many GFCLT buyers qualify with modest savings.
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No. First-time buyer status is not required to purchase a GFCLT home.
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Homes are generally offered on a first-ready, first-approved basis, depending on the specific listing. GFCLT prioritizes buyers who plan to live in the home, are ready to work with a lender, and understand the shared-equity model.
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If your income is near the limit or varies year to year, you may still be eligible. GFCLT reviews applications on a case-by-case basis and encourages you to apply or contact us to discuss your situation.
Ready to Take the Next Step?
If you think you may qualify, the next step is to start the pre-application process or explore current listings.