Rocky Mountain Community Land Trust homes in Colorado Springs

RMCLT invests in each property so the buyer's mortgage is reduced by at least 20%. That investment is not a loan you repay. In exchange, you agree that when you move, you will sell the home to another eligible buyer, which keeps the price affordable for the next household.

The ground lease. RMCLT keeps ownership of the land through a ground lease, the document that ties the house and the land together and enforces the program rules. RMCLT says the lease secures your use of the land for 99 years and is renewable and inheritable, so you can leave the home to family, who would then live in it or sell it to an eligible buyer. You pay a monthly lease fee, which RMCLT lists as $60 for a townhome or condo and $75 for a single family home.

Day to day, it is your home. You are responsible for the land, can landscape, and pay property taxes on both the land and the house through your mortgage escrow. You cannot rent the home out; if you move, you sell.

The resale formula. RMCLT describes the seller's return as a reasonable share of any appreciation, plus the equity you build by paying down your mortgage. It does not publish the exact formula on its website. Ask RMCLT to walk you through the resale terms in the ground lease before you commit.

Conventional, fixed rate, 30 years. RMCLT requires a conventional, fixed-rate, 30-year mortgage for 70% to 80% of the purchase price. Its FAQ says there is no private mortgage insurance, no balloon payment and no adjustable rate, so changes in property taxes and homeowner's insurance are what would move your payment.

No VA. RMCLT's FAQ says VA loans cannot be used because VA underwriting guidelines do not approve the community land trust model. RMCLT's pages name only conventional financing, so plan on that rather than FHA or USDA.

Use an RMCLT-listed lender. RMCLT's eligibility page lists specific qualified lenders and asks buyers to get prequalified with one of them. Clayhouse Mortgage is not on RMCLT's lender list.

Your cash in. You contribute at least 1% of the purchase price or $1,000, whichever is greater.

RMCLT homeowners live throughout El Paso County and the City of Colorado Springs, but RMCLT says it currently only has funding to purchase with families within the City of Colorado Springs. Its home search page, as of September 2026, says funds for new acquisitions are coming soon, lists a purchase price of no more than $338,000, requires at least two bedrooms, and notes that purchases depend on grant funding. Those figures are marked approximate and subject to change.

RMCLT accepts purchase contracts first come, first served from buyers who meet all its criteria, and says the process from accepted contract can take 45 to 60 days because the home must pass inspections and committee and board approval. If you are buying in Falcon, Monument or Fountain, see the countywide programs instead.

Clayhouse Mortgage is an independent mortgage broker in Colorado Springs; Logan Bowles is the licensed loan officer. We are not a lender, and because RMCLT works with its own list of qualified lenders, we would not be the one financing an RMCLT home. Where we can help is the comparison: if you are weighing a land trust home against a regular purchase with Pikes Peak DPA or Colorado Roots, we can help you check eligibility for those and, where a program is available through the wholesale lenders we work with, originate the loan.

Clayhouse Mortgage is not affiliated with the Rocky Mountain Community Land Trust, CHFA, or any government entity.