Your gross household income (all applicants combined) is at least $3,600/month, and you can document it clearly. Unlike lender offered assistance programs, Trio has no maximum limits on income. We’re not restricted based on school district, census tract or any other type of restrictions found typically with other programs.
Your housing history is stellar, showing 12 months or more of on-time payment history, and you can document it clearly.
Your FICO score is at least 580, according to our third party credit report and your credit history doesn’t contain many collections and charge-offs. Trio looks at credit history, not just the score. For self-employed applicants, your credit score must be at least 620.
You don’t have an active bankruptcy or foreclosure. If your bankruptcy is discharged and your foreclosure is recorded, you could be eligible. Be sure you can still document timely housing payments as mentioned above since your foreclosure.
Proof of Upfront Costs and First Month’s Payment for Approved Home Price, with minimum amount held being no less than $5,000. Actual upfront costs will vary based on the home that’s selected.