I meet the eligibility requirements and I’m ready to apply. What’s next?

“I meet the eligibility requirements and I’m ready to apply. What’s next?”

To begin an application, make an appointment with a Methow Housing Trust staff member.  Call 996-5943, or email contact@methowhousingtrust.org

Mortgage lending for community land trust homes includes unique circumstances and requires specific expertise.

Before consulting a lender, please talk to us about the many available lending options.

Step One: Initial meeting with MHT Staff:

When meeting with MHT staff to apply, please bring with you:

1. Two (2) most recent pay stubs for all adults (18 and older) in your household
2. Any other applicable income documentation such as:
   • Evidence of child support
   • A year-to-date profit and loss statement and balance sheet, if you are self-employed
   • Any other income documentation, including Disability, Social Security, or SSI statements
3. Two (2) years of signed tax returns
4. Two (2) months of bank statements for all bank, retirement, or investment accounts
5. Asset documentation (Including: savings accounts, real estate, mobile homes, recreational vehicles, boats, art collections.  DOES NOT include household possessions, cars, tool, pensions or retirement accounts.)
6. Summary of total monthly debt including school loans, credit card debt, and car loan
7. Completed Homekeeper Application form (linked to PDF)
8. After meeting with MHT staff, if you would like to submit an application to purchase, there will be a $30 application fee.

Step Two:  Pre-qualifying

• Submit Application to Methow Housing Trust
• $30 fee paid after initial eligibility meeting with MHT staff
• Initial meeting with lender as assigned by MHT
• Credit Report obtained --$20 fee 

Step Three:  Qualifying

• Reviewed MHT’s Ground Lease Policy
• Reviewed sample CCR’s for your neighborhood
• Signed Agreement to Lease Land and Purchase House from Methow Housing Trust and  paid $100 commitment fee 
• Added to Waiting List

Step Four:  Purchasing

• Work with your CLT approved Lender. This process takes 45-90 days.
• Order an inspection of the house. 
• Shop for home owner’s insurance.

Step Five:  Education and Community Building

• Attended a Homebuyer Education class (One 5 hour evening class)
• Joined MHT ($20 membership)
• Met with MHT resident 
• Attended at least one homeowners’ group or MHT board meeting                                            

Step Six: Final Step

• Sign a Purchase & Sale Agreement and Move In!