New Townhomes for $200,000

Are you ready to own your own home in the Chelan Valley? Thanks to many local community members, businesses, and donors that dream is now a possibility for a local like you!!

Current available homes are 5 townhomes at the corner of North Emerson Street and East Chelan Avenue in Chelan. These 1179 square foot townhomes will be two-story, 2 bedrooms, 1.5 baths and built with quality in mind, for only $200,000. The townhomes are available to locals who earn at or below $82,000. Income limits depend on your household size, take the eligibility quiz to find out if you’re eligible.

If you are eligible, want a home in downtown Chelan, and are ready to apply, follow the steps below!!

(Above: Emerson Village Townhomes Imagery from corner of Emerson and Chelan)


Step 1: Eligibility and Application

  • Take an eligibility quiz here.
  • Apply online here.
  • CVHT will ask for additional documentation and to schedule a pre-qualification meeting.
  • Send the following before the first meeting:
    • 1 Month Pay Stubs (both note signers)
    • 2 years tax returns (both note signers)
    • 2 years w2s (both note signers)
    • U.S. Passport/Valid ID or SSC/Work Visa
    • Pay the 30.00 Application Fee here.

NOTE: Please scan all documents and send via email to The free Dropbox App for your phone (scan feature) is a very easy and effective way to to this.

Step 2: Pre-Qualification Meeting

  • At the meeting, you and CVHT will:
    • Verify eligibility using the documents provided (see above)
    • Review available homes, desired home type, Ground Lease basics, and the basic property covenants.
    • Develop a “Pre-qualification” action plan, which typically includes 1 more of the following actions:
      1. Increase income to amount needed to afford the home. See this helpful handout.
      2. Decrease expenses/debt to the amount discussed at this meeting. See this helpful handout.
      3. Work on credit (640 or higher is typically the goal)
      4. Obtain residency- If not already working with someone, consider calling Hand in Hand Immigration Services, 509-888-4833
      5. Explore approved lenders and products. List of CVHT approved lending products here.
      6. Meet with a lender to get pre-qualified (required before next step) and obtain a pre-qualification letter.
  • CVHT will continue to check on your progress as you work through these steps.
  • Once action plan is complete and pre-qualification is in hand, you will request another meeting with CVHT

NOTE: It is HIGHLY recommended that if you are working on 1-3 above to use a FREE home buyer counseling service by American Financial Solutions. They will help you identify your next steps and work with you on solutions. Visit their website and give them a call.

Step 3: Intent to Purchase Meeting

  • At this meeting, you and CVHT will:
    •  Confirm Pre-qualification actions are complete (see above)
    • Confirm desired home, and understanding of Ground Lease, and CCRs.
    • Sign an Intent to Purchase and pay $100.00 Fee to secure home.
  • CVHT provides a “Qualification Action Plan”, which typically includes:
  • Once the Qualification Action Plan is complete, you will ask to schedule your 3rd meeting.
  • At this time your Eligibility and Qualification will be confirmed by the CVHT Board of Directors

Step 4: Qualified Purchasing Meeting

  • At this meeting you and CVHT will:
    • Confirm Qualification Action Plan is completed.
    • Confirm Eligibility information has not changed.
    • Select Home/Parcel for purchase
    • Schedule an appointment with qualified realtors to sign a Purchase and Sale Agreement and open an escrow account with $500.00
    • Develop a “Closing Day” action plan, which typically includes:
      • Review the Ground Lease with attorney and sign Ground Lease Acknowledgements
      • Sign Memo of Ground Lease
      • Shop for Homeowners Insurance
      • Order Inspection and ask for necessary repairs
      • Obtain Commitment letter from lender for Loan amount

Step 5: Closing Day!

Steps for closing:

  • CVHT or chosen representatives meet with clients to sign final documents and close. 
  • Keys!
  • New Home Purchase Checklist given to client to take action on immediate homeowner items.

Here are estimated costs to own a CVHT home depending on your lending product and a few other factors (these will change as home price, insurance, taxes, etc. change, but are used for quick reference):

Conventional Zero Down Estimate:

$2,800  paying 1 year home insurance up front + $130 in CVHT nonrefundable fees

FHA Estimate (3.5% down with MI):

$13,200 +$130 in CVHT nonrefundable fees

USDA 502 Direct Estimate: 

$2,500 + $130 in CVHT nonrefundable fees

Additional Notes on Purchasing a Home with CVHT:

  • CVHT does not discriminate based on race, color, national origin, sex, religion, familial status, or disability.
  • Purchasing a Community Land Trust is much like purchasing a home in the market. In fact we help you get ready and help you find resources to get through the process! The Ground Lease and Ground Rent are the largest differences, which are simply in place to maintain home ownership opportunities for future generations.
  • These homes are built by local community members to support local wage earners in a valley where the average sales price of homes is more than double what average earners can afford. Know that purchasing a home with CVHT is to protect the fabric of our local communities by keeping folks like YOU in it!


Learn how to buy a home, get involved, or donate.

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