How do I become a homeowner with BNCLT?
- Attend a Bloomington-Normal Community Land Trust information session (one hour, virtual).
- Must be a first time home buyer (not owned in the last three years).
- Meet with a BNCLT board member to determine if you income qualify, see chart below.
- Earn a HUD certificate, free class for first time home buyers. We recommend Mid-Central Community Action in Bloomington, IL.
- Attain a pre-approved letter for a mortgage from one of our partner banks including the Bank of Pontiac, Heartland Bank, and Credit Union for All
- It is not Here to Stay’s policy, our bank partners require everyone on the mortgage to have a social security number.
- Down payment of 1% to 3% of the purchase price. This will be determined by the bank and/or down payment assistance.
A family can not earn more than 100% of Area Median Income (AMI) for Bloomington-Normal. Income for everyone 18 years and older is included. Income is counted using total gross (before taxes). For more information, see the table below.
