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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, Trio does charge a one-time $325 Servicing Setup fee to you in your upfront costs. The dues, fees and upkeep to HOA requirements would be your responsibility as well, although they are not fees charged by Trio.
  • Trio can finance up to 100% of the FHA loan limit in any particular county, but note that down payments are required for high balance financings above $647,000.

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. If it is not included, it is a passthrough to you in your upfront costs. Financing available. 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.

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