In order to move through the ICLT homebuyer selection process, you must pre-qualify for mortgage financing for the total amount you will need to borrow to purchase an affordable home. Please see Available Properties for current prices.
Because of the unusual nature of the land trust ground lease, all mortgage products must be approved by ICLT. Buyers may use any commonly available prime mortgage products. However negatively amortizing loan products will not be approved. Under no circumstances will a homeowner be allowed to borrow more than the maximum resale price for their home according to the resale formula.