22 October, 2014

PROJECT: Reclaim

PROJECT: Reclaim is a home ownership program created in collaboration between Urban Homeworks and City of Lakes Community Land Trust. The program facilitates successful home ownership—helping to create healthy, vibrant and sustaining communities.


About PROJECT: Reclaim

PROJECT: Reclaim homes are sold through a contract-for-deed program, giving families desiring home ownership the financial space and time to improve their stability and become able to conventionally finance a home. It is designated for households that have been declined a regular mortgage due to credit challenges.


How PROJECT: Reclaim Works

PROJECT: Reclaim takes boarded, condemned or foreclosed properties and restores them with the effort of trainees and volunteers. These houses are available to low- to moderate-income families who have credit challenges and face additional challenges due to market conditions and tightened financing guidelines. The homes are sold through a low-interest contract for deed. A portion of the interest is placed into a reserve account for the homeowner to use as a down payment at the time of refinance.

Each family agrees to an action plan to address credit enhancement and a number of preparation items, thus increasing their understanding and readiness for homeownership. When families can move from renting to owning, they not only have a place to call home, but they also become more engaged in the life of their community and now control the destiny of their housing.

Program Highlights

  • Competitive interest rate
  • Home values range between $100,000 and $170,000
  • Rehabilitated homes with great attention to detail and stringent construction standards
  • Initial term up to 24 months
  • Homes are provided through a partnership between Urban Homeworks and City of Lakes Community Land Trust (resale restrictions apply; visit clclt.org for more information)


Determine Your Eligibility

  • You plan to purchase a home in Minneapolis
  • Your household income is greater than $30,000 annually
  • You have at least 500 credit score
  • You do not qualify for a conventional mortgage
  • You need a credit enhancement program to minimize debt and increase credit score within the terms of the contract period
  • Your household income is less than the following amounts based on:

o    1 Person $45,500
o    2 People $52,000
o    3 People $58,500
o    4 People $65,000
o    5 People $70,200
o    6 People $75,400
o    7 People $80,600
o    8 People $85,800


To Apply

  • Complete and return the PROJECT: Reclaim Process & Application Form.
  • Contact This email address is being protected from spambots. You need JavaScript enabled to view it. at 612-272-6682 for application submission and available homes.
  • Contact This email address is being protected from spambots. You need JavaScript enabled to view it. at City of Lakes Community Land Trust at 612-594-7145 for land trust orientation.


Check Out Our Finished Homes

Click here to see the list of downloadable PDFs featuring Urban Homeworks' recently finished projects.