Montana Housing’s Community Land Trust Mortgage Program provides purchase money loans secured by a leasehold estate on property owned by a Community Land Trust. Community Land Trusts were created to preserve long-term affordable homes by acquiring land and building homes in their communities, selling the homes to qualified borrowers but leasing the land using a long-term ground lease at affordable monthly rent. By removing the cost of land associated with a home purchase, borrowers can purchase homes they can afford in high cost areas. Eligible Community Land Trusts must be nonprofit organizations or public entities, such as state or local governments, counties, school districts, universities or colleges.
