Eligibility & Requirements
Thinking about applying for a home through the Sheridan County Housing Land Trust?
This page includes the key eligibility criteria, income limits, and application requirements for prospective homebuyers. Learn what it takes to qualify, how we select applicants, and whether our program could be the right fit for you.
Income Limits:
Steps to Becoming an SCHLT Homeowner:
Step One
Contact your realtor or the Powers Team directly to schedule a showing:
Step Two
Submit an SCHLT application for the home of your choice, along with 60 days of paystubs, (or two years of tax returns if self-employed), and 2 months of statements for all accounts.
The Housing Land Trust will then review your application to confirm income and asset eligibility.
Step Three
Mortgage Qualification:
If not already prequalified, the Powers Team will refer you to a local lender familiar with the HLT program. You will need to obtain a mortgage pre-qualification letter from the lender.
Allowable Assets:
Household may have liquid assets not exceeding the maximum median household income for a four-person household Sheridan County, as of the date of the household’s application for HLT homeownership, as published annually by the U.S. Department of Housing and Urban Development. ($108,000-2025)
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Cash savings, including but not limited to bank accounts, credit union accounts, certificates of deposit, and money market funds
Marketable securities, stocks, bonds, and other forms of capital investment
Inheritance and insurance payments received in previous five (5) years
Settlements for personal or property damage received in previous five (5) years
Other personal property that is readily convertible into cash.
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Ordinary household effects including furniture, fixtures, and personal property that is not readily convertible into cash.
IRAs, pensions, investment accounts, etc. that would require a penalty for early withdrawal.
Automobiles used for personal use.
Balances in specifically designated retirement funds and college savings accounts.
Securities, stocks, bonds, and other forms of capital held in a tax-deferred retirement plan recognized by the Federal Internal Revenue Service.
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Local lenders that are currently familiar with how our Housing Land Trust works are as follows:
First Bank of Wyoming 460 E Brundage Lane, Sheridan, Wy 82801
Callie Drell | 307-621-0500 | cdrell@gofirstbank.com
First Federal Bank & Trust 671 Illinois St, Sheridan, WY 82801
Stephanie Aggers | 307-673-2949 | Saggers@efirstfederal.com
Maren Borsheim | 307-675-4013 | Mborsheim@efirstfederal.com
Nicole Pearce | 307-673-2959 | npearce@efirstfederal.com
First Northern Bank 29 North Gould St, Sheridan, WY 82801
Shiann Panetta | 307-675-2146 | spenetta@firstnorthern.bank
Whitney Sweeny | 307-675-2141 | wsweeny@firstnorthern.bank
American Pacific Mortgage 543 N Main St, Sheridan, WY 82801
Sheridan Filbert | 307-217-2382 | sheridan.filbert@apmortgage.com
Brandy Campbell | 307-751-2376 | brandy.campbell@apmortgage.com
You may seek lending from other lenders however they may be unfamiliar with our model resulting in a mortgage that does not meet your needs.
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Current homebuyer education: Fannie Mae Homebuyer course