Buying a Home With Us
Proud Ground offers affordable homeownership opportunities that enable households to build stability and generate wealth.
Benefits for Homebuyers
Homeownership can seem out of reach for many individuals and families, but that doesn’t have to be the case.
As a Community Land Trust (CLT), Proud Ground offers homeownership opportunities to income-qualified buyers at below-market prices. For many Proud Ground homeowners, their monthly mortgage payment is about the same or even less than they were paying in rent. Plus, their monthly mortgage payment never changes, whereas rent usually increases year after year and is unpredictable.
By owning a home, households not only have stability (no risk of having to move further from work, their children’s schools, family, etc.) but also build wealth. In fact, the typical Proud Ground homeowner has accrued $109,000 in equity (the amount of principal paid off on their mortgage loan) after 10 years!
Benefits for the Community
We believe that everyone benefits when all people have the opportunity to be secure and invested in their community through homeownership.
Who Can Buy a Home With Proud Ground?
Proud Ground homebuyers must meet these eligibility requirements.
A FICO score.
A minimum household income of $38,000 per year.
Proof that you are a legal, long-term resident of the United States.
Have one of the following: a valid work visa, an Individual Taxpayer Identification Number (ITIN), permanent resident (Green Card) status, or citizenship (passport) in the United States.Proof of stable income for a minimum of two years.
Zero bankruptcies within the last four years.
At least $3,000 in savings to cover earnest money, home inspections, and appraisal costs.
For many of our homes, you must be a first-time homebuyer. This means you haven’t owned a home and haven’t been on the title of a home for the past three years. View the definition of a first-time home buyer here.
Ready to learn more? Take the first Step!
Step 1: Complete Intake Form and Attend Information Session
After you complete the Intake Form, you will receive an email for verification.
Then, register and attend a virtual or recorded Information Session.
Step 2: Sign Required Documents Electronically
We use DocuSign, which is easy to use for signing and submission.
You will receive instructions to upload proof of income and a budget.
Step 3: Meet with a Proud Ground Counselor
After your documents have been reviewed, you will receive an email with a link to schedule your education and counseling session with one of our two HUD-certified counselors.
Step 4: Ready to Buy?
When you have found a home you would like to purchase, email your counselor to request an application.