Understanding the Applicant Pool
How long will this take?
Due to the rising costs of homes in our area and significant lack of inventory, we have more applicants than homes available. Unfortunately, buying a home through KulshanCLT is not a quick fix for permanent housing. Most households wait in our applicant pool at least two years before purchasing. If you have an immediate need for housing, please contact the Opportunity Council at 360-734-5121.
How does the applicant pool work?
We date-stamp applications as we receive them and generally serve families on a first come, first served basis. There are some exceptions to this rule, mostly regarding the home size and suitability for the household. For example, we wouldn’t offer a four-bedroom home to a single person or offer a one-bedroom home to a family of four. We also do our best to match families with the kinds of homes they desire. Another important factor is affordability—some homes cost more than others, and a homeowner must be able to afford the monthly payments for that home, have good credit, and be mortgage-ready at the time of purchase.
When a home becomes available, we will alert those who have been in the applicant pool the longest and who also have compatible households for the home. If more than one applicant is interested in that particular home, and they also qualify for the purchase price, we would sell the home to the household that had been in the applicant pool the longest. Once that applicant signs the Purchase and Sale Agreement, it usually takes about 60 days to close on the home.
Every year we send out an email to remind those in the applicant pool to send us updated tax information and to let us know if they are still interested in the program. If we do not hear from applicants at least once a year to get updated financial information, we will consider their applications withdrawn.
While You Wait
Feel free to give us a call or send us an email every few months to check on your status in the applicant pool, and to let us know you are still interested in buying a KulshanCLT home.
Continue to work to strengthen your credit and save for your down payment and future home maintenance costs.
Be sure to keep your debts under 10% of your gross monthly income.
Pay all debt payments on time and keep balances low. Avoid taking on new debt of any kind so that your credit is strong when your turn to buy comes up.
“I love my updated, energy efficient home. Also, I am hoping my chickens will start laying soon. I can’t wait to try their eggs!
— KulshanCLT Homeowner