Home Sweet Home Mixer Informs Real Estate Pros About Trio Program
Friday, January 6, 2017
During the recent holiday season, a large group of Atlanta real estate professionals attended the Home Sweet Home Holiday Mixer and learned about the latest innovative Invest Atlanta homebuyer tool, the Trio Lease-to-Own program.
The event, hosted jointly by Invest Atlanta and Trio, was held at The Gathering Spot, an intown Atlanta membership club designed to bring creative, corporate, and entrepreneurial professionals together in a unique environment. Guests were treated to holiday desserts and a presentation to help them better understand how they can serve their clients through the Trio program.
Mayor Kasim Reed and the Invest Atlanta Board of Directors unanimously approved the introduction of the Trio program, the first of its kind in Georgia, at their September 2016 meeting. Through this public-private partnership, City of Atlanta residents who might normally have difficulty obtaining a traditional mortgage can secure a lease on a home with the option to buy it.
Trio offers several advantages to participants, including a simple qualification process, no down payment requirement, and the option to lock in mortgage interest rate. Participants can also receive a term based on today’s pricing that is underwritten to FHA standards.
The completion of a Homebuyer Education course from eHome America is a prerequisite to participate, as is an income of at least $3,600 per month and a credit score of 580 or higher. In addition, homes financed through Trio must be new or substantially remodeled within the last 10 years with a purchase price that does not exceed $374,268.
Trio can be used in tandem with any of the other homebuyer incentives Invest Atlanta offers to help make the dream of homeownership a reality for more Atlantans. Through these diverse offerings of incentives, Invest Atlanta will continue to expand housing opportunities and enable more people to live in their own home sweet home in the city, in 2017 and beyond.Tweet