Lease Payment
Loan Amount
Back to

How Trio Compares

To get started comparing Trio, select a home price and a lease term. Then see how lease financing with Trio compares to purchasing with a mortgage and renting a house.

triofirst FHA Mortgage Rental Home
Financing Basics
Cost of home financed $205,000 $206,000 n/a
Down payment required 0 ($7,000) n/a
Amount financed $205,000 $199,000 n/a
Assumed interest rate 7.00% 7.00% n/a
Minimum credit score to qualify 580+ 620-660 various
Minimum years under new employment 0+ 2+ various
Minimum debt to income ratio 50% 43% various
Cash Required to Move in
Down payment n/a $7,000 n/a
Inception fee (1% of cost of home financed) n/a
Underwriting and Program Fee $1295 n/a n/a
Closing Costs (with 3% seller credit) n/a n/a
Security deposit n/a n/a $1,368
Total cash required $3,916 $13,000 $4,789
Monthly Payment
Base payment $1,132 $979 $1,368
Mortgage insurance premium $140 $141 n/a
Real estate taxes $167 $167 included
Home care contribution $40 n/a n/a
Homeowners insurance $42 $42 included
Total monthly payment $1,482 $1,328 $1,368
Trio payment, net of Home Purchase Assistance n/a n/a n/a
If Purchased at Lease End
Est. market value $232,000 $232,000 n/a
Std. Trio option price $218,000 n/a n/a
Trio home purchase assistance ($11,000) n/a n/a
Net Trio option price $207,000 n/a n/a
Equity gained during lease $25,000 n/a n/a
Cash required to close with new financing n/a n/a n/a
Assumable OwnOption mortgage rate 4.00% n/a n/a

Information provided on Compare Trio is for illustration purposes only. Program pricing illustrated is based on qualified customers with excellent credit history who meet Trio underwriting requirements. Individual results will differ from what is represented. Mortgage and rental comparisons are approximations only based on average rates and terms for comparable price points. Mortgage rates are based on an FHA mortgage as of November 30, 2019 from LendingTree for credit scores ranging from 620 to 640. FHA loan limits based on local guidelines are not reflected. Rental comparisons are based on CoreLogic's RentRange. Trio lease financing is available on eligible homes on leases originated or assigned to Trio. Monthly lease payments and option prices are calculated based on a home cost that includes acquisition costs of 2.5% of the negotiated price of the home financed. Trio incentive credit is provided for the first 24 monthly payments when made on time. Acquisition costs are illustrated as a concession paid for by the seller. Should acquisition costs not be paid by the seller, cash required to move-in may be increased for the difference. Cash due at signing includes an inception fee of 1% of home price, $1295 underwriting/program fee and $.00 security deposit (not all customers will qualify for security deposit waiver). Last months payment may be required subject to underwriting. First month's payment is due prior to occupancy. Future monthly payments may increase depending on property taxes, insurance and homeowner association rates. Purchase option price at lease end (excluding customer closing costs) is based on home price, plus acquisition costs multiplied by a home price appreciation factor over the term of the lease. In the case of TrioFirst, home purchase assistance is provided by Trio for the difference between the purchase option price and the original home price, plus acquisition costs and a one-time 1% appreciation charge. Home purchase assistance illustrated at time of purchase in the case of TrioSelect assumes 100% of lease payments were paid on-time. TrioFirst is limited to a 3 year lease term. Please note that TrioFirst, is priced at 1% above cost for households with incomes at or below $60,000 per year – 80% of HUD’s national median income. For household incomes above $60,000, TrioFirst is priced at just 1% per year above cost. All figures presented are examples and estimates only. Customer is responsible for renters insurance and required maintenance during the lease term. Excess wear and tear as defined in the lease contract may be charged should a customer not purchase.

Back to Resources