In conjunction with our program partners, our staff works with tenants who express interest and financial readiness in becoming homeowners.

Current tenants are eligible, and are even given priority, when land trust homes become available for purchase.

These are the six steps we ask potential homebuyers to fulfill before becoming a DCLT homeowner:

  1. Possess the desire to be part of the solution to create permanent affordable housing in Durham
  2. Maintain two years of steady employment
  3. Earn Credit Score of 640 or higher
  4. Meet income-eligibility requirements
  5. Get prequalified from one of DCLT’s preferred lenders, BB&T, Pinnacle Financial Partners, or Bank of NC.
  6. Gain certification from one of DCLT’s partner homebuyer education courses. In Durham, we work with Reinvestment Partners. Click here for their schedule of homebuyer classes.

The Community Empowerment Fund (CEF) offers financial services such as budgeting and 1:1 matched savings programs as well as classes for DCLT tenants.  Get in touch with them to find out how you can take advantage of their offerings!

“CEF and DCLT are working together to open up access to more equitable financial services — a matched savings program and one-on-one coaching and support for DCLT’s tenants and homeowners.  Right now, we’re exploring and co-designing positive rent reporting in order to build tenants’ credit history!”
-Janet Xiao, Co-Director, Community Empowerment Fund.