How to Qualify for a THLT Home

You might be eligible for a THLT Home if you are:

A First-time Homebuyer

You must be a first-time homebuyer. This means you have not owned a home within the last three years.

A Resident

You must be a legal resident living or working in Thurston County.

Income Eligible

Most THLT houses must be sold to buyers who have a gross household income that is less than 80% of Area Median Income (AMI) for Thurston County. Sometimes a house is available to people earning more than this, but who still cannot afford to buy a market-rate home. If you are self-employed, qualifying income is calculated after deducting any business-related expenses (the bottom of Schedule C on your tax return).

Currently 80% of Area Median Income (AMI) is:

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Able to get pre-approved for a mortgage

Requirements vary, but in general in order to obtain pre-approval from a lending institution the you must have a steady income (husually a two-year history), satisfactory credit (typically 680 credit score, 700 preferred) and a modest amount of consumer debt.

Able to contribute to the down payment

You must be able to contribute at least $2,500 for a down payment. The actual amount depends on the price of the home, and any special grants or subsidies that may be available.

Willing to agree to our program's mission

You must understand and agree to our program’s mission to create permanently affordable housing in Thurston County by applying the shared-equity land trust model. Are you willing to:

  1. Become a member of THLT?

  2. Attend a THLT orientation that explains the shared equity model (balancing wealth building and permanent affordability) and the rights and obligations of THLT home ownership?