This table was automatically generated from a spreadsheet and represents
a hypothetical set of numbers relating to a house owned by a land trust.
It was created by City of Lakes Land Trust (Minneapolis).

[[Narrative description goes here]]
BUYING THE HOME










2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Home (Market Rate and assumes 7% annual increase) 169,674 181,551 194,260 207,858 222,408 237,977 254,635 272,459 291,532 311,939
Initial CLT Investment 25,000 0 0 0 0 0 0 0 0 0
Gap Subsidy 30,000 0 0 0 0 0 0 0 0 0
CLT Equity (assumes 67%) 55,000 62,958 71,472 80,583 90,332 100,763 111,924 123,866 136,645 150,317
Homebuyer purchase price 114,674 118,593 122,787 127,275 132,076 137,214 142,711 148,593 154,887 161,621











MEDIAN INCOMES









50% AMI (assumes 4.71% annual increase) 38,350 40,156 42,048 44,028 46,102 48,273 50,547 52,928 55,421 58,031
Income needed to buy home at market rate (based on market value) 55,832 59,420 63,278 67,424 71,881 76,673 81,824 87,362 93,314 99,713
House price a family earning 50% of Median Income can afford 108,515 113,637 119,000 124,619 130,499 136,658 143,109 149,863 156,937 164,344











SELLING THE HOME









Equity at resale (assumes 33%) 0 3,919 8,113 12,601 17,402 22,540 28,037 33,919 40,213 46,947
Down payment back (assumed 3%) 5,090 5,090 5,090 5,090 5,090 5,090 5,090 5,090 5,090 5,090
Annual principal paid down (assumed 6.5% mortgage) 0 1,702 1,804 1,919 2,048 2,189 2,331 2,487 2,654 2,831
Accrued principal earned (assumed 6.5% mortgage) 0 1,702 3,506 5,425 7,473 9,662 11,993 14,480 17,134 19,965
Closing Costs (assuming 3% - CLT assisted) -5,090 -5,447 -5,828 -6,236 -6,672 -7,139 -7,639 -8,174 -8,746 -9,358
Equity at closing 0 5,265 10,882 16,880 23,293 30,153 37,481 45,316 53,691 62,645
% of equity (if buying home at current market rate - defined above) 0.00% 2.90% 5.60% 8.12% 10.47% 12.67% 14.72% 16.63% 18.42% 20.08%