Steps to Homeownership

Introduction

Our homeownership program is open to individuals, families, seniors — any homebuyer who is income qualified (see below) and wants to live in the greater Charlottesville area. When thinking about your eligibility, you should consider your income and employment, as well as your credit history and savings. These are the factors a lender will consider when you apply for a mortgage. We recognize that homebuyers may be at different stages of the homebuyer process. We can help connect you to other community resources to assist you.

If you want to buy a house with Piedmont CLT, a homeownership counselor can help you identify how much you can afford and your eligibility. During the final application process, you will meet one on one with a PCLT staff member to review your specific situation.

Income Qualification

In order to qualify for a PCLT home, your entire household income must be equal to or less than 80% of the Area Median Income in Charlottesville. The US Department of Housing and Urban Development releases these income limits each year.

For 2024, look at the list below. If you make less than the amount listed for your household size, then you may qualify:

80% of the Area Median Income
(City of Charlottesville, Albemarle, Fluvanna, Nelson and Greene Counties)

1-person household = $68,400

2-person household = $78,150

3-person household = $87,900

4-person household = $97,650

5-person household = $105,500

6-person household = $113,300

7-person household = $121,100

8-person household = $128,900

80% of the Area Median Income
(County of Louisa)

1-person household = $52,850

2-person household = $60,400

3-person household = $67,950

4-person household = $75,500

5-person household = $81,550

6-person household = $87,600

7-person household = $93,650

8-person household = $99,700

Resources

PCLT Homeownership Orientation Form

This document will help you define all of the terms associated with a community land trust and orient you to the CLT model.

PCLT Sample Ground Lease

This sample ground lease details the specifics of the agreement that a CLT homeowner makes with the PCLT. If you have any questions about the PCLT ground lease, please contact us!

Plain Language Summary of PCLT Ground Lease

Prospective homeowners will receive a document that summarizes each section of the PCLT ground lease in plain language that is simple and understandable to all audiences. If you have any questions about the PCLT ground lease, please contact us!

Steps to Homeownership

We are always working to add to the supply of available Community Land Trust homes in the area. While we may not always have properties currently available, we encourage you to register so that we can contact you when new units come available.

01Check Website

Check the PCLT website to see if you are income qualified*

02Register

If you qualify, register online here

03Orientation

You will be contacted to schedule and attend an orientation meeting with PCLT staff to:

Review Ground Lease

Review PCLT Policies

Set Expectations for PCLT Homeownership

Review homebuyer assistance programs at Piedmont Housing Alliance

04Submit Form

If you need homebuyer assistance, submit the information form to Piedmont Housing Alliance, then schedule and attend housing counseling appointment to:

Complete Financial Assessment

Determine Income Eligibility

Discuss Mortgage Readiness

Seek Credit Counseling (if needed)