Community Land Trust
A policy tool to help limited-income Nashvillians access the dream of homeownership and build intergenerational wealth.
What is a CLT?
Community Land Trusts (CLT) are nonprofit, community-based organizations or programs that offer affordable housing to those who need it. CLTs own the land, and houses are built on that land. The CLT then leases the land and sells the house, creating new homeowners. The goal of a Community Land Trust is to give more families the opportunity to own homes, and enable limited-income households to build wealth.
Created in partnership with the Metropolitan Housing Trust Fund Commission, the goal of The Housing Fund’s CLT is to build permanent, affordable housing for limited-income families in the Nashville area. The program’s focus is to serve as a permanent steward of a community’s land, and any homes or buildings constructed on this land. Because a not-for-profit entity like THF retains ownership of the land, the CLT preserves the housing’s long-term affordability and helps to prevent foreclosure.
How Do I Qualify?
Eligible homebuyers for a Community Land Trust property located in Nashville-Davidson County must:
- Be a first-time homebuyer
- Be mortgage-ready (pre-approved with a first-mortgage lender)
- Have an annual income at/below 80% of the Nashville Area Median:
- Have credit in good standing.
THF maintains a running list of prequalified applicants to the CLT program, and works with these prospective homebuyers on a first-come, first-serve basis. To learn more, reach out to THF’s Director of Community Impact.
How CLTs Make Homebuying More Affordable
How Do I Apply?
The Housing Fund maintains a running list of applicants to the CLT program, and works with these prospective homeowners on a first-come, first-serve basis—based upon their prequalified purchase amounts with a first-mortgage lending partner.
To apply for The Housing Fund’s Community Land Trust program for homeownership in Nashville-Davidson County, you must:
- Submit a completed application
- Submit a pre-approval letter from one of THF's first-mortgage lending partners
- Complete a homebuyer-education course and a financial-counseling session
- Occupy the home as a primary residence
- A $600 processing fee will be due upon closing.
Additional Resources
For more information, please refer to our Community Land Trust Homebuyer Informational Guide.
