Land Trust homeownership is similar to conventional homeownership, but the land beneath the homes is owned by One Roof Community Housing.

The Same

  • The homeowner obtains a mortgage with a bank.
  • The homeowner accumulates equity.
  • The home can be inherited by the homeowner’s spouse or children.
  • The homeowner pays property taxes.
  • The homeowner can make alterations and improvements to the home & land.

Different

  • The purchase price is lower—about 20-30% below the market rate.
  • One Roof Community Housing owns the land and the homeowner leases the land for a nominal fee ($30/month).
  • The Resale Formula ensures that the home will remain affordable when it is sold in the future. When a Land Trust house is sold, the homeowner receives 100% of what they have paid off on their mortgage plus 25% of the increased value of the property. Homeowners also receive the full value of any qualified capital improvements that have been documented during the time of ownership.