FAQ Handbook

When your home is closed, your real estate agent will work with you to hand off the keys and orient you to your home's features. If your home is new construction, your home will likely include a builder warranty and new home documents.

Within 30 days of closing, Trio will provide you with two lease addendums:

The first is the OwnOption Addendum. This addendum provides you with the principal amount of the mortgage that was placed that you may qualify to assume when you are ready to purchase your home from Trio. Also provided in this addendum is the related interest rate and core principal and interest payment.

The second is the Final Lease Terms Addendum. This addendum discloses the final numbers on your home based on the actual closing. Trio updates important items including your final purchase option price, monthly payment, lease term, prorated monthly payment and any other significant change based on the actual closing of your Trio financed home.

One of Trio's Advisors will be in contact with you regarding your next steps in getting ready to purchase. Services include connection to our homeownership counseling partners, preferred lender and healthy home service providers. Your Trio Advisor is there to assist while you are in your lease.

Best of all, enjoy your new home!

You are ultimately responsible for taking care of your new home financed by Trio. Trio provides a 24/7 maintenance call line at 844-LIV-TRIO as well as maintenance submission services through your online portal.

With every lease, Trio includes three main elements under its Home Care Program.

The third is Trio's homeowners' hazard insurance, which is included with each home and covers catastrophic items such as major damage and fires. Each policy has a deductible that may be charged to you depending on the type of claim.

Your monthly payment is based on the cost of the home we finance for you. You can see estimates based on home price on our website under "Compare Trio". In general, your monthly payment is about 10% to 15% higher than a comparable FHA mortgage payment. This difference is due to our costs to manage your lease before you purchase. If you use your OwnOption Mortgage to purchase your Trio financed home, your monthly payment will actually go down slightly once you buy.

Base payments are fixed for the entire term of your lease. Some items such as property taxes, property insurance, homeowner's dues or other charges in your payment may increase during the term of your lease, and if this happens the costs will be added to your payment. Trio does not add a surcharge to any of these third-party costs.