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Current Partners

ECLT Partners

Creating homeownership opportunities wouldn’t be possible without our partners. If you are a lender, real estate agent, or municipal partner, find frequently asked questions and resources below. To learn more about our application process and model please take the ECLT Online Orientation, found on the Qualify and Apply page.

Lenders

Lender FAQ

  • How can I get more information about DPA?

    Please see this sheet for a list of down payment assistance resources for your buyer.

  • Which income projection is used to calculate loan ratios to purchase an ECLT home?

    ECLT uses the highest of the following three: YTD pay period avg, most recent 2 month pay period avg & VOE info.

  • How can I learn more about DOORS?

    Please visit elevationclt.org/doors or send any additional questions to doors@elevationclt.org.

  • Can we get an exception for the buyer to get a debt to income exception?

    If a borrower has an average credit score of 700+, we may allow the borrower to have a 35.0% housing DTI. The total debt to income limit is still 43.0%. 

  • Do all properties have an interest rate buy down credit?

    No, only specific properties, please see listing details.

  • Will ECLT allow lenders to stack multiple down payment assistance programs?

    Yes, but please note that some DPAs may have special overlays that limit their use.

Real Estate Agents

Real Estate Agent FAQ

  • Do I need to be certified to work with an ECLT client?

    You only need to be certified to help a fully qualified buyer through the Doors to Opportunity process, but we recommend that you take our ECLT Online Orientation to be best prepared to support your buyer.

  • What is the contract process with ECLT?

    First, ask your client for the ECLT qualification letter. Then, ensure that they are fully qualified with a participating lender based on the property purchase price and check to make sure that the home is not on a waitlist priority list. Finally, submit the contract to our listing agent. ECLT will work with our listing agent and all parties involved to guarantee a smooth closing process.

  • How do I know that my client is fully approved by ECLT?

    Your client must have an official ECLT full qualification letter. The ECLT orientation certificate is not proof of approval.

  • Is a standard real estate contract compatible with ECLT?

    No, please reach out to the listing agent for the ECLT-compatible contract template.

Communities

community FAQ

  • How do I best promote the ECLT homes in my community?

    The best way to promote ECLT homes in your community is through community leaders, news and media, and at local events. Click here for more details.

  • Where can I find promotional and educational resources for ECLT?

    Click here for resources.

  • How do I learn more about ECLT homes in my community?

    Click here for current listings to see what homes are available in your community. Click here to learn more about the Elevation Community Land Trust model.

Developers

Lenders

Communities

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Elevation Community Land Trust
Contact
  • Fax:
  • 425-303-1122
  • TTD/TTY: Dial 711 and give our number to the Washington Relay - 425-258-9222