Several important legal documents and guidelines specific to the Island Housing Trust ground lease are available below for mortgage lenders working with homebuyers purchasing from the Trust.
IHT MODEL GROUND LEASE 
This is an example of the Island Housing Trust 99-year ground lease that is based on the Institute of Community Economics Model Ground Lease, as well as exhibits to the Lease including: Letters of Stipulation and Acknowledgement of Lessee and Lessee’s Attorney, Legal Description, Right of First Refusal, Bill of Sale and Deed, and Permitted Mortgage.
LENDING CRITERIA FOR IHT
Lenders making mortgages on IHT properties must conplete the Trust’s lending criteria.
FNMA COMMUNITY LAND TRUST OPTION
Fannie Mae and Community Land Trusts CLT) are teaming up to provide mortgage finance solutions that create and preserve long-term affordable housing. This document explains the benefits and features of the CLT ground lease model, along with regional FNMA contacts.
IHT PERMITTED MORTGAGE AGREEMENT
This sample document is an agreement between the IHT and the mortgagor based on the terms of a “standard permitted mortgage” as defined in the IHT ground lease.
FNMA ANNOUNCEMENT 06-03 – Amends these Guides: Selling and Services – Properties Subject to Land Owned by Community Land Trust
Fannie Mae has purchased mortgages secured by properties held by Community Land Trusts for many years. This announcement amends their Selling Guide in Part VIII, Chapter 1, and General Mortgage Eligibility Criteria. These changes are effective May 1, 2006.
UNIFORM COMMUNITY LAND TRUST GROUND LEASE RIDER (FNMA Form 2100)
If the lender wants to sell the mortgage to Fannie Mae, this rider must be executed to ensure the IHT ground lease is in conformance with Fannie Mae’s guidelines for Community Land Trust mortgages.
FNMA GUIDELINES ON VALUATION OF A PROPERTY SUBJECT TO A LEASEHOLD INTEREST
Fannie Mae guidelines for valuation of leasehold properties involving Community Land Trusts.
