|Über uns||Northwest Montana Community Land Trust, Inc. (NWMTCLT) provides access to affordable homeownership in the Flathead Valley.|
|Mission||The NWMTCLT is committed to preserving the affordability of housing - one owner after another, one generation after another, in perpetuity.|
Enriching lives and communities one home
at a time…
The purpose of the Northwest Montana Community Land Trust, Inc. (NWMTCLT) is to provide access to affordable homes for those in the Flathead Valley that qualify.
HOW DOES THE COMMUNITY LAND TRUST WORK?
With funds garnered previously from a federal program, NWMTCLT has been able to purchase distressed homes and rehab them. This program takes a vacant home that has become a drain on a neighborhood and gets it fixed it up looking beautiful again.
NWMTCLT then separates the land from the home and retains ownership of the land beneath the home. The home itself becomes available to be sold to qualified Homebuyer Education graduate. The Community Land Trust owns the land in perpetuity and leases it back to the homeowner for a low monthly payment.
Because the homeowner is only purchasing the structure, the price of the home is now affordable. Homeowners still have to qualify for a mortgage, pay utilities, and taxes and keep the home in good condition. The money acquired from the sale of the house is put right back into the program to purchase another home, so this program is self-funding and self-sustaining! If the homeowner decides to sell their home, they can recoup some of the appreciation of the value of the home, but they must sell it to another graduate of the NWMTCLT homebuyer program.
There are only winners in this scenario… the neighborhood wins as there is no longer a home that is a “drag” on their property values. A homeowner wins as they are able to purchase a home at an affordable price and get out of the rental market. The overall community is a winner as this program brings stability to neighborhoods; the new homeowners are educated in responsible home purchasing, budgeting and maintenance issues, thereby reducing the likelihood of foreclosure.
Northwest Montana Community Land Trust, Inc. is on the front lines every day, helping individuals and families achieve, preserve, and sustain the