Sustainable Housing - Mosaic Community Land Trust

Mosaic Community Land Trust provides an affordable way to invest in your own home.

One of Mosaic’s foundations is encouraging and facilitating permanently affordable home ownership in Pottstown. One way that we accomplish that is by purchasing land and selling homes under the Community Land Trust (CLT) model.

Land is owned by the Community Land Trust

Because the buyer pays only for the structure, and not the underlying land, the home is more affordable.

A qualified buyer purchases the home for an affordable price which includes a 99-year (renewable) ground lease between CLT and homeowner.

A resale formula built into the ground lease is designed to keep home affordable for subsequent buyers.

Eligibility Requirements

Primary Residency Requirement – Applicant will be in residence a minimum of 8 months of the year (does not have to be contiguous).
Legal Status and Competency Requirement – Applicant must be of legal age to enter into this contract (18 +) and a legal resident of the U.S. and competent to consent and enter into legally binding contracts.
Creditworthiness Requirement – The applicant household must be able to demonstrate a history of successful and responsible efforts to honor its financial obligations.
Mortgage Readiness Requirement – Applicant must demonstrate the ability to obtain a mortgage by presenting a mortgage pre-approval letter and/or a mortgage commitment letter from a cooperating mortgage lender. Documents required for the lender may include, but are not limited to: three months bank statements, last three paystubs, and W-2 from previous year for each buyer listed on contract.
Homebuyer Education Requirement – Applicant must attend and participate in homebuyer orientation or counseling conducted by Genesis Housing or equivalent in preparation for entering into the Ground Lease Agreement.
Attend a CLT Homebuyer Orientation Workshop.
Have a household income at or below 120% of area median income (AMI).

Interested?

Fill out the form below and we will contact you.

"*" indicates required fields

Applicant Name*

First Last

Co-Applicant Name

First Last

Current Address*

Street Address Address Line 2 City State ZIP Code

How Long at Current Address?*

Please enter a number less than or equal to 50.

Email*

Phone*

Are you a First-Time Homebuyer?*

Yes

Do you currently reside in Pottstown Borough?*

Yes

Do you currently work in Pottstown Borough?*

Yes

# of Adults in Household*

Please enter a number less than or equal to 20.

# of Children in Household*

Please enter a number less than or equal to 20.

Annual Household Income from ALL sources*

Please enter a number from 0 to 300000.

Estimated Amount of Funds Available for Downpayment*

Please enter a number from 0 to 200000.

Applicant Signature*

This is the signature for the applicant.

Co-Applicant Signature

This is the signature of the co-applicant.

Mosaic Community Land Trust provides an affordable way to invest in your own home.

Eligibility Requirements

Interested?

Available CLT Properties

3 BD 1.5 BA Property

Homebuyer Selection Criteria Point Scale