Let's get housed.
Looking for a stable, attainable path to homeownership in Benzie County, MI?
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You're in the right place.
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​The Housing Trust of Benzie (HTB) is a nonprofit community land trust (CLT) that creates opportunities for income-qualified households to purchase quality homes at prices they can afford, with long-term affordability built in for future homeowners. ​
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Read on for more information about the program, who its designed for, and how the process works. Then you can decide whether this approach to homeownership is the right fit for your goals.​​​​​
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If you're ready to submit an application, click the button below.
Built by Benzie, for Benzie.
Thanks to donations, community support, and our land trust model, homeowners can buy HTB homes for 25–35% less than what the homes would sell for on the market.
About the Homeownership Program
The Housing Trust of Benzie creates long-term affordable homeownership opportunities for income-qualified households in Benzie County.
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Our homes are designed for people who want the stability and pride of homeownership, but have found that prices in the traditional housing market are increasingly out of reach.
Own Your Home
With CLTs, you own the home outright, while HTB owns the land that your home sits on. This offers greater affordability and nearly all of the same rights and responsibilities as traditional homeownership.
Build Equity​
You have the opportunity to recover your investment, to benefit from appreciation, and to build real equity over time.
Community Impact
Your opportunity today to purchase a home at an attainable price is an opportunity that is preserved for another local family tomorrow.
When homeowners go to sell their home in the future, the resale price is determined by a clear, predetermined formula designed to balance the current homeowner's ability to capture some shared equity with keeping the home affordable for the next income-qualified buyer.
Instead of being priced solely by the open market, the home remains within reach for another local household— just as it was for the previous owner.​
The Resale Formula presents homebuyers with the opportunity to:
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Recover their original investment
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Benefit from a percentage portion of the home's appreciation
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Build real equity over time
This approach reflects a shared commitment:
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Your opportunity to become a homeowner today helps preserve the same opportunity for someone else tomorrow.
By choosing an HTB home, you’re participating in a community-based model that balances individual stability with long-term, community affordability.
How the Process Works
So you've decided this approach to homeownership feels like the right fit. Here’s how the process typically moves forward.
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SUBMIT A HOMEBUYER APPLICATION
The first formal step is submitting a homebuyer application through the Northwest Michigan Community Action Agency (NMCAA) Housing and Financial Services (HFS), HTB's program partner.
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The application helps NMCAA understand your household, income, and homeownership goals. You do not need to have everything figured out before applying. NMCAA is one of our key partners and handles the overall homebuyer facilitation and selection process.
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APPLICATION REVIEW & HOMEBUYER COACHING
A member of NMCAA's Housing and Financial Services (HFS) will review your information and contact you within a reasonable timeframe.*
At this stage, the NMCAA representative will complete additional screening requirements, confirm eligibility, and walk you through what remains in the application process, including timelines, documentation, and next steps.
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NMCAA also provides homebuyer education and coaching that are designed to support long-term success as an HTB homeowner. While all buyers must complete this one-time training, the level of coaching and support varies based on where you are in your homebuying journey. Homebuyers pay for the one-time training ($75-$100), but HTB covers the cost of all coaching, ensuring that all applicants, no matter where they are on their homebuying journey, have equitable access to becoming housing or mortgage-ready.
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The timeframe from application to potential home purchase will vary depending on where an individual engages in the process, but applications generally will not be available until six months before occupancy
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*If you do not hear back within 5-7 business days, please reach out to NMCAA directly.
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HOMEBUYER WAITLIST & MOVING TOWARD PURCHASE
Buyers who meet program requirements and are determined to be mortgage-ready will be placed on a homebuyer wait list.
Often, HTB homes are under construction and not yet available, so the wait list time will vary by project.
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As homes become available, NMCAA will support buyers with next steps, including obtaining mortgage pre-approval and coordinating with HTB for potential purchase.
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It is important to note that HTB is not involved in selecting homebuyers for its homes. All applications and personal information are reviewed by NMCAA and kept strictly confidential. HTB's role is to construct and steward the homes and ensure long-term affordability, while NMCAA works directly with buyers throughout the homeownership process.
If you have any further questions or want to learn more about Northwest Michigan Community Action Agency's Housing & Financial Stability programs and services, please call 231‑346‑2147 or email hfs@nmcaa.net.
You'd Be a Good Fit If…
Now that you know how the process works, the next step is to see whether a HTB home may be a good fit for your household.
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The guidelines below reflect the core requirements of HTB homeownership and help set expectations for applicants. NMCAA will review these items with you as part of the application process and can help clarify questions, documentation, and next steps along the way.
Employment in Benzie County
You must be able to demonstrate current or promised future employment in Benzie County since HTB’s CLT homeownership program is designed to help those working in Benzie County.
Employment helps show that you will be able to sustain monthly housing costs over time. As part of the application, NMCAA will review employment details with you and help clarify what documentation may be needed.
Household Income Range
Your household income must fall at or below 120% of the U.S. Department of Housing and Urban Development (HUD) Area Median Income (AMI) for Benzie County.
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HTB homes are most commonly affordable to households within the 60%–120% AMI range. A chart with current income ranges by household size is provided below.
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Primary Residence Use
HTB homes are intended to be used as the buyer’s primary residence and must be occupied for at least 11 months of the year.
These homes are not permitted to be rented out, either long-term or short-term. This requirement helps ensure homes remain available to local residents employed in Benzie County who are seeking long-term, stable housing.
Homebuyer Education & Coaching
Buyers must participate in homebuyer education and coaching.
Coaching is provided through the NMCAA Housing and Financial Services (HFS). This includes a Homebuyer Education Workshop (in person or virtual), as well as pre- and post-purchase coaching sessions designed to support successful homeownership.
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Income Eligibility Guidelines
Below are the current income limits by household size based on Benzie County Area Median Income (AMI). These limits are updated annually by HUD.​​
Eligibility is determined using gross annual household income, which NMCAA reviews as part of its financial readiness assessment. Actual limits vary by household size and change each year. Applicants with incomes below 60% AMI are still encouraged to apply, though additional financing or funding sources may be needed to qualify.
NUMBER OF PERSONS IN HOUSEHOLD | 60% AMI | 80% AMI | 100% AMI | 120% AMI |
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1 | $40,200.00 | $53,600.00 | $67,000.00 | $80,400.00 |
2 | $45,960.00 | $61,280.00 | $76,600.00 | $91,920.00 |
3 | $51,720.00 | $68,960.00 | $86,200.00 | $103,440.00 |
4 | $57,420.00 | $76,560.00 | $95,700.00 | $114,840.00 |
5 | $62,040.00 | $82,720.00 | $103,400.00 | $124,080.00 |
6 | $66,600.00 | $88,800.00 | $111,100.00 | $133,320.00 |
7 | $71,220.00 | $94,960.00 | $118,700.00 | $142,440.00 |
8 | $75,840.00 | $101,120.00 | $126,400.00 | $151,680.00 |
THE NUMBERS REFLECTED ON THIS CHART ARE FOR 2025.
AMI = AREA MEDIAN INCOME
More than a house – a home base.
Homeowners enjoy the confidence of a connected neighborhood and community network as well as ongoing connections with the HTB team.
What to Expect Over Time: Resale & Equity
Community Land Trust (CLT) homeownership utilizes a ground lease which legally leases the land from HTB to the homeowner.
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This common CLT practice is designed to balance individual homeownership with preserving long-term affordability. Because this approach differs from traditional market-rate homeownership, questions about resale, equity, and financing are common.​
Many lenders are already familiar with working with CLT homeowners and ground lease documents, including Honor Bank, Independent Bank, and State Savings Bank locally, as well as other regional and state lenders. NMCAA can help answer questions about financing as part of the homebuyer process.​
How the Ground Lease Works:​​
HTB homes are purchased utilizing a long-term ground lease as one of the documents a homebuyer is required to sign. This ground lease is the document covering your lease of the land that your home sits on and is what distinguishes ownership of the home from ownership of the land. This structure is what allows a home to be purchased at an attainable price initially and to remain affordable over time, while still providing you with the rights and responsibilities of homeownership.
When you purchase an HTB home:
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You own the home itself
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The Housing Trust of Benzie retains ownership of the land beneath it
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The land is leased to you through a long-term ground lease that remains in effect well beyond a typical mortgage term
Most homeowners never actually reach the end of the lease. The length simply ensures that the home remains secure and affordable not just for you, but for future homeowners as well.​
What the Ground Lease DOES:
Hover to discover HOW
Done by setting the resale price - the maximum amount that a home can be resold for
Ensures long-term affordability for future homeowners
Done by requiring full-time residency of homeowners
Ensures the home remains owner-occupied
Done by clarifying both homeowner and HTB responsibilities within the lease
Provides a clear framework for the future
The ground lease provides a clear, predictable framework that supports long-term homeownership success for both you as the initial homeowner and the broader community of other homebuyers into the future.
What the Ground Lease DOES NOT DO
Limit day-to-day use of your home
As a homeowner, you have full use of the land. This includes the ability to landscape, plant gardens, install fencing, or add features like play equipment — just as you would with traditional homeownership
Prevent you from building equity
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When you're ready to sell your home, you'll have the opportunity to earn equity from the appraised value of your home using a fixed-rate resale formula.
How the Resale Formula Works
When you’re ready to sell your HTB home, the resale process is designed to be clear, predictable, and fair for you and for the next homeowner.
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Instead of setting a potential resale price based solely on what homes are currently selling for on the open market, you will utilize the resale formula price that is set out in the ground lease that you signed at the time of your initial purchase. This means that you always know how the resale formula price (which again is the maximum amount that your home can be resold for in the future) will be calculated.
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When the home is resold, the land subsidy stays with the home, and the next buyer must also meet HTB program requirements and income qualifications at the time of purchase.
Under this formula:
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You retain the opportunity to receive all of the principal you have paid into the home.
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You may earn a percentage of equity based on the appraised value of the home at the time it is available for resale, compared to the appraised value of the home when you initially purchased it.
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Remaining appreciation is retained by HTB so the home can remain affordable for the next buyer.
The resale formula price establishes a cap as far as the maximum amount that your home can be resold for in the future.
By utilizing this formula, the Housing Trust of Benzie is in no way representing that this price is what you will be able to actually sell your home for in the future. Your actual resale price will be dependent upon many factors, including fluctuations in the local housing market and the actual condition of your specific home.
Other Important Info:
Use of Land
Homeowners have full use of the leased land, including landscaping, installing fencing, and adding play equipment or similar features. Any project-specific guidelines will be shared during the purchase process.
Property Taxes
Homeowners receive two separate property tax bills: one for the home (the improvement) and one for the land.
Owner Occupancy
HTB homes are intended to be owner-occupied as a primary residence. Renting out or subleasing the home is not permitted, helping ensure homes remain available to local residents employed in Benzie County who are seeking long-term, stable housing.
Major Changes
While homeowners are responsible for repairs and improvements, certain major structural changes or additions may require HTB review or approval. Any applicable requirements will be contained in the ground lease, which will be shared during the purchase process.
Homeowners Insurance
Homeowners are responsible for maintaining homeowner's insurance, similar to traditional homeownership. Insurance requirements will be reviewed as part of the financing and closing process.
Utilities
Homeowners are responsible for all utilities.
Maintenance, Repairs & Capital Improvements
Homeowners are responsible for maintaining the home, including routine maintenance, major repairs, and capital improvements.
Project-Specific Details
Some HTB developments may include additional features or requirements that vary by project. Any project-specific details will be clearly communicated before purchase.
Long-Term Stewardship
HTB continues to steward the homes over time to support long-term affordability and program integrity. This stewardship helps ensure clear expectations and consistency for current and future homeowners.
Sill have questions? See FAQs.