Turning Renters Into Owners!
At WGP Property Management, we believe that everyone deserves the opportunity to achieve homeownership. That’s why we’re proud to offer our innovative TRIO Program—Turning Renters Into Owners. This unique rent credit program is designed to help renters transition into owning their own homes, making the dream of homeownership more attainable than ever.
How It Works
The TRIO Program allows renters to pay their rent every month while building equity toward their future home purchase. Here’s how it works:
- Monthly Rent Payments: As a participant in the TRIO Program, you’ll continue to pay your rent as usual.
- Rent Credits: A portion of your monthly rent will be reserved as a credit, specifically set aside to help you save for a down payment.
- Down Payment Accumulation: Once you’ve accrued up to 10% of the home’s sales price, you’ll be ready to take the next step toward homeownership.
- Financing Assistance: At that point, our team will help connect you with a lender to secure financing and make your homeownership dream a reality.
Eligibility Requirements
Not all homes are eligible for the TRIO Program, and participants must meet specific criteria to qualify. These requirements typically include:
- Proof of income of at least 3x the monthly rent.
- A minimum credit score of 600.
- Approval to live in the community where the home is located.
Program Timeline
The length of time needed to accumulate your down payment will vary based on your rent and the home’s sales price. On average, most participants achieve their down payment goal within 1 year. However, the exact duration will depend on the specific details of your agreement.
Why Choose TRIO?
- Save While You Rent: Instead of paying rent without any long-term benefit, the TRIO Program helps you invest in your future home.
- Support Along the Way: Our team is here to guide you through every step, from building your rent credit to securing financing.
- Flexible and Attainable: TRIO provides a structured yet flexible path to homeownership tailored to your unique circumstances.
WGP Property Management is committed to turning your dream of homeownership into reality. If you’re ready to take the first step, contact the community you’re interested in and one of our managers will be able to assist you through the process!