Buyers Must Meet All Requirements to be Eligible to Purchase
- Be income-eligible (using HUD Area Median Income Guidelines). These guidelines are based on current gross household income. Income guidelines are subject to change.
| Household Size (number of persons living in the home) |
Maximum Income |
|---|---|
| 1 person | $79,600 |
| 2 persons | $90,900 |
| 3 persons | $102,300 |
| 4 persons | $113,600 |
| 5 persons | $122,700 |
| 6 persons | $131,800 |
| 7 persons | $140,900 |
| 8 persons | $150,000 |
- Be Asset Eligible. You must have less than $60,000 in liquid assets (not including retirement accounts). Exceptions to the limit may be requested, but are not guaranteed.
- Be able to obtain a mortgage from a local lender. Your credit report must reflect the fact that you will likely be eligible for a mortgage. Review the list of lenders here.
- You must have at least $3,000 in personal savings and a plan to pay for closing costs, which can be up to $10,000. This plan can include money from financial gifts, loans, or other sources.
- You must not have an ownership interest in another primary residence on the date that you purchase a CHT home
- Complete Homebuyer Education and counseling Find a HomeBuyer Education Workshop
- Attend the Shared Equity Program Informational meeting (dates listed below)
Contact Us for More Information: 802-861-7373, [email protected]
Learn More about How to Apply for the Shared Equity Program
Download the pdf application here: Shared Equity Program Application