Frequently Asked Questions

ALT sells the house to a family or individual and provides the homebuyer with a 99-year renewable ground lease for the land. The ALT homeowner has full use of the land just like any other homeowner. The owner of an ALT home can pass the home to their children just like any other homeowner. But if the homeowner decides to sell the house, ALT will buy the house back from them or help them find another low to moderate income family or individual to purchase the home.

Since we receive government assistance for our housing program, a family or individual cannot make more than 80% of the area median income. Check the chart below to see if you are eligible.

Number of Family Members

1

2

3

4

5

6

7

Maximum Family Income 2018

$33,000

$37,700

$42,400

$47,100

$50,900

$54,560

$58,450

ALT homes are less expensive than other houses on the market. In some cases, ALT is willing to allow a person to do a lease-purchase while they are working on clearing up their credit to be eligible for a mortgage. ALT is a long-term resource for an ALT homeowner. We are here to help you succeed.

Because land has become so expensive, ALT makes the house more affordable by not selling the land. You buy the house and we keep the land, but you get to use the land without having to finance it. This allows us to help more families. By keeping the land ALT can legally keep the house affordable forever.

Most of the houses we have are in the Hancock Corridor or East Athens. This area, once thought of as undesirable, is rapidly becoming one of the hottest in-town neighborhoods. If a family finds a house outside of this area and wants to be part of our program, ALT may be able to help the family in purchasing the home.

ALT works with families and individuals making below 80% of Area Median Income. For a family of three they must make below $42,400. The homes that we develop must always be available for low to moderate income first time homebuyers. This means that they never turn into student rentals or speculative properties. The homes are not used as comparisons for appraisals or tax assessments so while the neighborhood benefits from having problem properties fixed up, they do not suffer from increased property taxes because of these new or renovated homes.

All ALT applicants receive housing counseling, which usually includes helping applicants re-build credit and improve their credit scores. ALT’s housing counselor will work individually with applicants to address credit problems.

Interestingly enough, community land trusts like ALT were started as a way to address the lack of power that sharecropping had created in black communities in Georgia. Community land trusts are formed to hold land for the benefit of those that often don’t have access to ownership or control. Our homeowners are able to build equity and move out of rental situations allowing them more stability and opportunities.