FOR IMMEDIATE RELEASE:
ROWLETT, Texas (October 17, 2019) – On October 2, 2019 the Texas Association of Local Housing Finance Agencies (TALHFA) recognized the Rowlett Housing Finance Corporation’s marketing efforts to promote Trio, an independent mortgage financing company based in Washington State, to expand access to affordable financing to qualified residents in an effort to promote home ownership through a Lease-to-Own program.
“Some of our residents need an affordable, secure path to home ownership when traditional mortgage financing is not attainable,” said Rick Sheffield, Rowlett HFC’s Executive Director. “We are excited about this partnership to help young families and others prepare to purchase their first home and experience the benefits of home ownership.”
Instead of starting with a home mortgage, Trio first qualifies a potential homeowner for a lease with fixed monthly payments from one to five years. The customer then has the option to purchase the home 24 months into the lease agreement via an assumable FHA mortgage.
In Texas, both pre-owned and new homes are available under the program. The purchase option price is set as low as the original cost of the home, plus a 1% conversion cost. Future home equity may then be used by the customer toward the down payment or closing costs in order to assume the loan.
About the Texas Association of Local Housing Finance Agencies (TALHFA) TALHFA is a statewide non-profit organization established in 1989 for the purpose of informing, planning and supporting the needs of local housing finance agencies in their delivery of affordable housing in the State of Texas.
TALHFA has an active membership of over 250 professionals in all areas of affordable housing. Local Housing Finance Corporations, Bankers, Attorneys, Developers, Trustees, Service Providers, Consultants and many other professionals work together in offering solutions for home ownership and rental opportunities.
Down Payment Assistance!
New Lease to Own Program!
Welcome Trio to the Rowlett HFC Family of Programs!
We are proud to announce the launch of Trio in Texas! Trio is a lease-to-own program that provides an affordable, secure path to homeownership when traditional mortgage financing is not attainable. Trio’s modern lease-to-own model is designed for potential homeowners ranging from first-time buyers to small business owners. It’s a wonderful option for those with a non-traditional income, recent college graduates, and renters wishing to become homeowners.
- No application fee
- No down payment required
- Fixed monthly payments
- Financial coaching and home ownership tools provided
- Earn equity during the lease period
- Purchase at any time
- Lock in purchase price for 5 years
Rowlett Housing Finance Corporation is pleased to offer this program to our partners in the real estate industry! Texas real estate agents can become TRIO certified to even help more Texans achieve their dreams of home ownership!
