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Community Land Trust

A nonprofit that owns land to keep it affordable, usually by leasing the land to homeowners while they own the actual house sitting on it.

Shared Equity Homeownership

A system where a buyer gets a home at a lower price in exchange for agreeing to limit the profit they make when they sell it, keeping it cheap for the next buyer.

Area Median Income (AMI)

The midpoint income level for a specific city or region; it is used to determine who qualifies for affordable housing programs.

Deed Covenant

A legal rule written into the property's paperwork that limits how the land can be used or sold in the future.

Revolving Fund

A pot of money where the loans paid back by one borrower are immediately used to fund the next loan for someone else.