Our Mission: to empower tenants to become homeowners through programs for
education, construction and creative financing.
Tenants to Homeowners, Inc.
The Lawrence Community Housing Trust
What are the eligibility requirements?
You must attend one First Time Homebuyers workshop held by Tenants
to Homeowners. Click here for
the 2013 Workshop Schedule.
Homes must be owner-occupied. LCHT does not subsidize landlords.
You must be able to qualify for a home loan from a TTH lender. This means you must have stable
verifiable income, good credit and a low debt-to-income ratio. If you
have questions about qualifying for a loan, please contact us at
Your total gross family income must not exceed the following 2013 income
Family Size *
80% of Median
*TTH measures a family as the number of
people who will be living in the house.
What is the Lawrence Community Housing
How does the Housing Trust guarantee
continual affordability? The Lawrence Community Housing Trust builds new
homes and rehabilitates old homes, then sells to eligible buyers for approximately $50,000 less than the home's
market appraisal value. In exchange for this subsidy, the buyers agree that
if they resell their LCHT home, the price will be affordable to
another eligible buyer. Read more about this affordability model in a
national scope at
What does this mean?
To the LCHT sellers, this means they gain equity from
mortgage payments, plus improvements made to the
land and 25% of the market appreciation. To the new LCHT homebuyer, this
means the house is affordable because the purchase price has not
Doesn't a restricted resale agreement
reduce the profit from homeownership?
No, because those who qualify for our program don't have
other options for homeownership. They either cannot afford the market
rates or cannot afford to repair an initially affordable home that needs a
lot of work. The housing trust provides a chance for a
low-to-moderate-income family to buy a home. The resale profit to an LCHT
homeowner, while limited, is something renting never provides.
Why do we restrict the resale prices?
Because it costs so much money to make a house affordable, we want to
keep the house affordable beyond the first purchase. Studies indicate the demand for
affordable housing will explode in the next ten years,
and it's important that every dollar that makes homes affordable now is
saved to keep them affordable later.
How, exactly does the limited resale
separates ownership of the house from ownership of the land the house sits
in. LCHT sells the house to an eligible buyer and leases the land to the
buyer for $25 per month. The new LCHT homeowner uses the property like any
other homeowner - Painting, mowing, putting up a fence - LCHT isn't a
typical landlord. The land-lease agreement is the legal
method that allows LCHT to keep the home affordable to the next
buyer. When ready to sell, the homeowner calls us.
Tenants to Homeowners, Inc. is a nonprofit Community Housing Development Organization (CHDO) that serves the City of Lawrence, KS.
2518 Ridge Court, Suite 103 Lawrence, KS 66044 • Phone 842-5494 • Fax 842-7570 •
LawrenceLandTrust@yahoo.com • Copyright © 2007 TTH