Own a home using DLT's step-by-step process:
Our Mission:
To create opportunites and foster stewardship of permanently affordable housing for low-income and moderate-income families and individuals.
DLT is designed to provide voluntary assistance for working families by providing equity funding to permanently reduce the cost of homes for qualified homebuyers by removing the land cost from the purchase price.
Limited-income homebuyers will purchase their homes and receive a 99-year ground lease to the lot on which their home sits - a lease that is assignable to qualified heirs and renewable for a second 99-year term. DLT places equity limitations into the ground lease agreement that restrict the resale price of the housing in order to maintain its long-term affordability - in an attempt to balance the competing goals of providing a fair return on the initial owner's housing investment, on the one hand, while assuring that the housing unit is kept affordable for the next buyer without requiring additional subsidy, on the other.
In so doing, the benefit of the investment of public and private dollars needed to create affordability is preserved for generations to come.
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Determine Your Eligibility and See a Lender
A lender will help answer your quiestions and determine whether you qualify for a mortgage.
DLT Orientation
Attend an orientation session to receive an overview of DLT and an explanation of Shared Equity.
Attend a Homebuyer's Education Course
Sign up and attend homebuyer's education classes that are required by Dakota Land Trust.
Choose the Home You Would Like to Purchase
Set a meeting to sign the purchase agreement.
Become a Home Owner!!
Sign the final closing documents. Congratulations! You are a homeowner!
"The Dakota Land Trust is designed to assist potential homeowners in securing a residence, providing assistance after their puchase, encouraging family-friendly neighborhoods and promoting a mix of land uses and types of housing."
-Joy McCracken, DLT Executive Director
