New pathway to homeownership available in Placer County
May 24, 2016
A new financing option is available to Placer County residents who are looking to purchase a home but are unable to use traditional mortgage loans.
The Placer County Housing Authority is partnering with the California Affordable Housing Agency to expand access to homeownership through the Trio Lease-To-Buy Option Program.
Trio is a home financing program for consumers that uses a lease with an option to purchase. Leasing agreements offer fixed monthly payments ranging from one to five years, with an option to purchase during or at the end of the lease, similar to a car leasing structure. The lease-to-own option is designed to transition families into homeownership, whether as first time homebuyers or re-purchasers.
Trio also offers a mortgage option called ownoption that secures a fixed interest rate at the time of lease signing that remains available to Trio’s customers for the life of the lease, should they choose to purchase the home.
Trio finances any newly-built home (houses built within the last five years) in Placer County with prices up to $527,700 with a Federal Housing Administration loan limit of $474,950.
The City of Roseville is hosting an informational workshop about Trio’s lease-to-own program Wednesday, May 25, at the Roseville City Center. The workshop will run from 5:30 p.m. to 6:30 p.m. in the City Council Chambers at 311 Vernon Street. Those interested in attending the workshop are encouraged to RSVP via email to firstname.lastname@example.org.
Additional information about the workshop is also available online, here.
To apply for the program or more information, please visit www.thinktrio.com.