Welcome to the Lawrence Community Housing Trust.
Tenants to Homeowners (TTH) combines "Real Estate" with "Affordable."
If you can afford a monthly housing payment of appx. $750-$850 (includes taxes, insurance and
the TTH lease fee), the Lawrence Community Housing Trust Program may be for
you. There's a good chance you are income eligible because the median
household income in Lawrence is $41,290, and the upper income limit for an
eligible family of four is $57,200. Also, as the first Energy Star builder in Lawrence, our
Energy Star-rated homes total appx. $100/month in utilities. For more
information, read about
our program.
Check out our homes for sale
or
current projects to see
what we're working on! Would you like to receive our quarterly home maintenance newsletter? E-mail
Hayley at
hmtravis@gmail.com with the subject
line "Newsletter," to join our mailing list.
At any time, call us at 842-5494. We're happy to answer questions!
Upcoming Events:
Saturday, March 10, 2012 - Free First Time Homebuyer Workshop, 9:30am-1:30pm at the United Way Center, 2518 Ridge Court. Want to buy a home, but don't know where to begin? Find out all about the Lawrence Community Housing Trust program and much more at this workshop.
Frequently Asked Questions:Why affordable housing? Accessibility & Energy Efficiency How do I use this program?
Why Affordable Housing?We're so glad you asked. Why does Lawrence, KS need an affordable housing program? Overall, real estate values have increased faster than incomes - even considering the market downturn. According to the Douglas County Appraiser, the average home sale price in 2011 has been $185,200. Incomes in Lawrence are tens of thousands of dollars lower than those of most surrounding communities, even when the numbers are adjusted to allow for the student population. That's probably why 22.4% of Lawrence homeowners spend more than 35% percent of their income on housing (considered a cost burden by many financial advisors). In short, Lawrence has a high cost of housing and incomes are generally not high enough to match the cost.
The Lawrence Community Housing Trust lowers the purchase price for those who are otherwise qualified - with good credit, low debt and savings for a mortgage loan - but whose incomes aren't quite high enough for the Lawrence market. In exchange, these new homeowners agree that when they resell, they sell at a formula price that allows them to earn equity while keeping the home affordable for the next buyer. The money it takes to lower the purchase price is invested for the community - an investment that becomes more and more valuable.
Accessibility & Energy EfficiencyTenants to Homeowners is the first home builder in Lawrence to build Energy Star qualified homes. To qualify, a home needs to pass strict tests by an independent auditor at major stages of construction. Energy Star is a program developed by the EPA and the U.S. Department of Energy.
Together our Energy Star construction efforts have achieved the annual equivalent of:
Eliminating emissions from 3.92 vehiclesAll new constructions are Energy Star certified and at least visitable to those with limited mobility. We include fully accessible homes in all of our development projects. Read about how we build.
How do I use this program?
There are two parts to buying a house with the Lawrence Community Housing Trust program. First, you need to be income eligible. Second, you need to be able to get a loan from a lender that participates with our program. Lenders will want to see that you have good credit and enough income to afford the monthly payments, just like they would other prospective home buyer. Click on this link to see the income eligibility guidelines.
