General Facts Costs of Trio Why Choose Trio Intro Videos Back to Resources

Costs of Trio

Trio means paying less up front.

If the thought of a down payment and a mortgage has a tendency to spike your heart rate, you can take a deep breath. When you finance with Trio, there is no down payment required from you. Our fees include:

  • Inception Fee of 1% of the home price. This is similar to a loan origination fee you might pay with a traditional mortgage.
  • Underwriting & Program Fee of $1,295. This Program Fee includes, among other things, our Trio Success Program that protects you in the event of a hardship (including pandemics like COVID-19)
  • If you select a home with an HOA, those fees would be your responsibility as well, although they are not fees charged by Trio.
  • $400 of these fees can be credited back to you if you use a Trio Preferred Agent or Loan Officer.

Don’t worry, you won’t be shocked by any surprise fees as Trio gives you an estimate before you sign your lease that includes all amounts specific to your contract. Use our Comparison tables to estimate your costs.

*This assumes a full 3% seller credit on your contract. Home Prices above $400,000 require a 2% down payment that gets credited to your future purchase. In some cases, last month’s payment may be required due to underwriting guidelines.

Trio doesn’t take the place of typical home buying costs.

Trio is much less than a mortgage, but you still have to pay the typical home purchase costs – for a home inspection and an appraisal if your negotiated home price doesn’t match appraised value.

What about the earnest money that I provide when I sign a purchase contract?

Just like with any other home purchase, you have to fund the earnest money that is typically 1% of the home price. These funds are a deposit for the seller confirming you are serious about closing. When Trio accepts the home and you sign your lease, these funds are credited to you and offset your Trio move-in costs.

Back to Resources