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 have stability (no risk of moving further from work, their children’s schools, family, etc.) and build wealth. The typical Proud Ground homeowner has accrued $109,000 in equity (the amount of principal paid off on their mortgage loan plus 25% of the estimated change in appraised values) 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 credit score of 620.
TOTAL household income at the time of purchase must be less than the maximum income limits listed for each housing opportunity. View the Available Properties page to view the limits.
A minimum household income of $38,000 per year.
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. Please note you will also be responsible for loan closing costs. Your lender will provide you with an estimate.
For most 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, with a few exceptions. View the definition of a first-time home buyer and check out our Available Properties page to see which homes require first-time homebuyer status.
Ready to get started? Take the first step!
Step 1: Complete the Intake Form and Attend an 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 the 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.
Effective June 1, 2025, you will be required to pay a $100 registration fee before moving forward to Step 3.
Step 4: Ready to Buy?
When you have found a home you would like to purchase, email your counselor to request an application.