The First Time Homebuyer’s Program provides affordable homeownership opportunities for low income, Chandler first-time homebuyers who are priced out of the current housing market. Households with incomes below 80% of the Area Median Income are eligible.
Chandler has partnered with the Newtown Community Development Corporation to administer the program which uses the Community Land Trust model. With this program, the purchase price is reduced because the buyer only has to afford the cost of the structure, not the land. Buyers only pay for the home and the land is held in a trust administered by Newtown. Eligible buyers must complete homebuyer education classes, meet with a homeownership counselor, and attend an orientation where the ground lease, resale restrictions, shared equity, and other provisions of the Community Land Trust program are explained.