Realtor Facts

Program Option I - Acquire Program

Two Rivers routinely purchases and rehabilitates homes and places them on the market at

a CLT price which is typically 20% to 30% below market value. Buyers interested in these

homes can submit a purchase agreement which will be contingent upon completing the

Two Rivers CLT application process. Contact Teresa vanderBent at 651-994-9194 x201.

Program Option II - Homebuyer Initiated Program (HIP)

If a buyer is interested in purchasing a home using the CLT model but we do not have any

homes currently for sale that meet their needs, we will go out with them and their realtor

to find a home to purchase. We then bring up to $75,000 to purchase the land and do rehab

work if needed. The home is then included in the community land trust. The same land

lease and resale obligations are applied. This program is available in several cities in

Washington County and Anoka County. Please review the attachments on the Homebuyer

Initiated program to see participating cities. The same homebuyer application process

applies to buyers interested in using the Homebuyer Initiated Program.

Program Option III - New Construction

From time to time, we build new construction homes. Currently we are building new

homes in Oakdale as part of the Red Oak Preserve development. Homes are starting at

$155,000 and are 3 bedroom, 1 ¾ bath, homes with finish ready basements and attached

two-car garages. Buyers interested in these homes can submit a purchase agreement which

will be contingent upon receiving financing completing the Two Rivers CLT application


CLT homeowners agree to shared equity and resale models that include receiving

100% of their earned equity, plus 25% of the increased value of the home.

Homeowners also receive the value of any qualified capital improvements that have

been documented during the time of ownership.

Homebuyer Application and Approval Process:

Attend an orientation session (1 hr and we invite the realtor to attend as well). This

session reviews the CLT ownership model and land lease. There is no fee to attend.

Fill out application/Income verification (lender prep session). During this session,

which can be as soon after the orientation session as desired by the buyer, we

review income and prepare the buyer to go to a lender to apply for a mortgage. We

work with several mortgage lenders in the metro. We are required to verify income

and assets similar to what the mortgage lender will do when the buyer applies for a

loan. Buyers must have incomes within program guidelines (example: family of four

must be under $64,000/yr). Additional affordability requirements apply.

Complete HomeStretch homebuyer education. This course is required by the lenders

as well. It is 8-9 hours offered either on a Saturday or split over a couple of days.

Buyers can take it anywhere in MN that works with their schedule. Visit

Get pre-approval for mortgage financing with a CLT approved lender.

Two Rivers Selection Committee reviews application for approval.

for more information and current schedules.

Two Rivers CLT Homeownership Program

Realtor Facts

Benefits of CLT Ownership:

market value - Get More for your money.

Ability to purchase a recently renovated home in good condition for less than

used like a Down Payment. CLT buyers, often do not need additional down payment

Lower costs to enter homeownership. CLT contribution for land (up to $50,000) is

and don’t have to pay p

rivate mortgage insurance.

Homeownership at an affordable price with stable monthly payments.

Access to fixed-rate, low-interest loans, and down payment assistance.

Tax advantages and opportunity to build equity.

Home and relationship to the land can be inherited.


Ongoing support from CLT community. Post-purchase support is offered to all CLT