Buying a Home

Buying a home is a big step! We can help.

Homeownership through DSCLT is a little different from traditional homeownership and we’ll work with you to ensure you understand not only the steps of buying a home, but the ins and outs of our program.

We’re with you every step of the way!

To qualify for buying a home through DSCLT, there are a few things to know.

Steps to Homeownership with DSCLT

1. Attend a DSCLT Orientation. DSCLT holds free, one-hour land trust homeownership orientations. This is your opportunity to learn about how to buy a home through DSCLT, and about the specific homes we have for sale now and others coming up in the future. You’ll fill out a preliminary DSCLT Homeowner Application. This doesn’t obligate you to work with our program, but it put you in line to work with our staff if you decide to pursue buying a house with us. Contact us by e-mail for information about the next orientation.
2. Attend a Homebuyer Education Class. These three certified homeownership counseling agencies are our primary training partners:
• NCALL Research
  302-678-9400 • info@ncall.org
• Interfaith Community Housing of Delaware
  302-995-7428
• First State Community Action Agency
  302-856-7761
3. Meet individually with DSCLT staff to learn about the differences between traditional homeownership and community land trust (shared-equity) homeownership. We will review your mortgage eligibility and make a home buying plan. You’ll fill out a detailed Final DSCLT Application. We review applications on a first-come, first-served basis. Your application will be considered complete when all the supporting income-eligibility material is included. If you are interested in purchasing a particular home that we are building, you will sign DSCLT’s Wait List Policy so you’re in line for the house you want to buy. DSCLT staff will provide you with our list of approved lenders familiar with land trust loans.
4. Meet with a lender. Your next step will be to meet with a lender (we can suggest several who are approved lenders for land trust homebuyers) and get pre-approved for a loan.
5. Learn about and understand our program. It’s very important that you fully understand the Ground Lease Agreement and Affordability Covenant, particularly the re-sale provisions. DSCLT staff will meet with you individually to provide more in-depth education about the DSCLT program. We also ask that you meet independently with an attorney to review the ground lease and other documents related to your purchase. We are happy to help you find an attorney who is knowledgeable in shared-equity homeownership, if you like.
6. Sign a Purchase and Sale Agreement to Buy a New or Fully-Rehabilitated Home. DSCLT will provide the Purchase and Sale Agreement, and you’ll work with DSCLT and the developer (one of our partners) through your purchase process.
7. When you purchase a Diamond State Community Land Trust home you will automatically become a part of the DSCLT membership. You can participate in annual meetings and be a part of the governance of DSCLT and its future.

Link to DSCLT Ground Lease