Down Payment Assistance Program - Tricon Residential

About the Program

The Down Payment Assistance program is part of Tricon Vantage. This collection of programs and services is offered as part of our commitment to helping our residents enhance their financial well-being.

If homeownership is one of your dreams, Tricon Residential would like to help transform your dream into a reality. Through our industry-leading Down Payment Assistance Program, qualified residents who have lived with Tricon Residential for five years or more are eligible to receive $5,000 toward the down payment of any home. That’s any home for sale in the United States.

$5,000

$5,000 in assistance toward your down payment.

5+ Years

This program is open to qualified residents who have lived in a Tricon Residential home for 5 or more years.

Any home in the United States

This program can help support a home purchase for any residence in the United States. The home does not need to be a Tricon Residential residence.

Resident Testimonials

Mariah and Dan share their heartwarming journey of how they transitioned from being renters in our community to proud homeowners. Their story is a testament to the power of determination and the support of programs like the Tricon Down Payment Assistance program. The Tricon Down Payment Assistance program played a pivotal role, offering qualified residents like them $5,000 towards the down payment of their new home.

Join us as we dive into their experience and learn about the benefits of this incredible program, which has helped them take that crucial step towards homeownership.

After renting for almost a decade with Tricon Residential, I feel incredibly excited to be the first recipient of the Tricon Residential Down Payment Assistance Program. The Tricon team did an exceptional job helping me navigate the opportunity as they were flexible and responsive, for which I felt much gratitude. I felt extremely blessed by receiving $5,000 towards the closing costs of my first home purchase. I hope that many others can take advantage of the same opportunity.

Kelcee Atlanta, GA

Frequently asked questions

The program offers all eligible Tricon Residential residents a chance to make progress toward their homeownership goals while living in a Tricon Residential home. It is designed to reward long-term residents and transition them, when they choose, from rental living to homeownership. Eligible residents can take comfort in
knowing their rent tenure could help them achieve the goal of homeownership. The $5,000 contribution is a gift and not a loan, so no payback is required.

After you have been notified by Tricon Residential that you have been selected to participate in the DPA Program, you must notify Tricon Residential as early as possible in the home buying process to initiate the DPA Program and confirm eligibility. If you express interest in participating in the DPA Program, you will receive a consultation with a Tricon Residential representative who will carefully detail the steps to receive the funding. Participating residents must execute a purchase and sale agreement within three months of moving out of their Tricon Residential rental home and complete the home purchase within six months of their move-out date

You will receive your funds through Tricon Residential’s DPA Program Administrator. The DPA Program Administrator will wire the funds directly to your purchase escrow prior to completing the purchase. It is critical that you notify Tricon Residential early in the process so your lender can coordinate with the DPA Program
Administrator and reserve the funds. It will typically take 30 days or more for your lender to complete the required verifications for the Down Payment Assistance

To assist with the process, Tricon Residential familiarized Total Quality Lending (TQL) with Tricon Residential’s DPA Program. TQL can assist with your loan prequalification and handle the necessary coordination with the DPA Program Administrator. If you would like to speak with TQL, their contact information is as follows:

Total Quality Lending
Brian Spunaugle
714 676 8920
triconresident@tqlend.com

Residents are not required to use TQL as their lender, but all participating lenders must be a licensed mortgage lender and have an active number assigned by the Nationwide Mortgage Licensing System & Registry (aka “NMLS Number”). In addition, lenders are required to be approved by Tricon Residential’s DPA Program
Administrator by completing its lender enrollment process. This will allow your lender to make a gift reservation with Tricon Residential’s DPA Program Administrator, who will then issue a gift letter on your behalf to your lender. If choosing to use a lender other than TQL, Tricon Residential encourages residents to make their lender
aware of this process during the initial prequalification to avoid delays to your transaction.