Roseville, Calif- The City of Roseville announces a new partnership with the California Affordable Housing Agency and Applied Residential, to expand access to affordable financing that promotes homeownership through the Trio Lease-To-Own Program.
“Some of our residents need an affordable, secure path to homeownership when traditional mortgage financing is not attainable,” said Roseville Mayor Carol Garcia. “Some of our young families are ready for their first home but don’t have a down payment saved yet.”
Through the partnership, Roseville residents will be able to lease a home, with the option to purchase. Trio’s Managing Director Darryl Lewis explained the lease-to-own concept, saying, “Instead of starting with a home mortgage, Trio qualifies you for a lease. That makes it easier for a lot of people to get financing up front. And like a car lease, Trio has fixed monthly payments, a choice to finance for one to five years, and the option to purchase at any time during the lease.”
In Roseville, move-in ready homes are available from area homebuilders as well as listed resales. The program finances any home build in the last 10 years up to a maximum home price of $525,000. Residents may also submit a request for financing for a home they’ve selected; if it meets the guidelines, it will be approved as well.
Every Trio-financed home includes an “ownoption mortgage,” which can be used to finance the home purchase when the resident is ready to buy and which features a locked-in mortgage interest rate and term.
To apply for the program or obtain more information, please visit: http://www.thinktrio.com. It is free to submit an application.