How to Apply for a BIHCLT home
Online Application portal coming soon.
1. Attend an Orientation
The BIHCLT offers our orientations through Microsoft Teams. See the Orientation Calendar below to register.
2. Attend a Homebuyer Education Workshop
All potential homebuyers are required to complete one of the following Homebuyer Education courses and provide the BIHCLT with a certificate of completion, to be uploaded in the application portal.
Freddie Mac CreditSmart® Homebuyer U
HomeView Homebuyer Education | Fannie Mae
The University of Arkansas also offers free, in-person Freddie Mac Credit Smart Courses on a rotating schedule.
Freddie Mac CreditSmart Essentials | Professional and Workforce Development | University of Arkansas
3. Obtain a pre-qualification letter from a Loan Officer/Lender
Interested buyers must be able to qualify for a 30-year conventional mortgage with a CLT-compatible mortgage partner.
The BIHCLT is currently unable to work with FHA, VA, or Sharia financing. Please note: Not all lenders currently work with Community Land Trusts. As this is an early-stage program, CLTs are still being introduced to the lending community. If you need a referral to a partner lender, contact sophie@webringithome.org. If you are already working with a lender, please reach out to Sophie to coordinate a conversation with the lender.
4. Submit an Application
Full Applications are not available for download yet. Those who have attended a BIHCLT Orientation will receive an application when they become available.
To prepare, you will need to provide:
8 most recent paystubs
2 most recent federal tax returns (forms 1040, 1040A, or 1040EZ and all subsequent schedules)
6 months of statements for all bank accounts
$20 application fee (per household).