A program designed for you.
Not ready for a mortgage? We’ve got you covered. With Divvy you can rent your dream home now, while growing your built-in savings for a down payment.Get prequalified
5 steps from renting to owning.
Apply for free in 5 minutes
Getting prequalified is free. It’s quick, comes with no commitment, and doesn’t impact your credit score.
Find your dream home
You get a home-shopping budget, and you can choose any qualifying home on the market. Work with your own agent, or find one through Divvy.
Divvy buys your dream home
We pay for the home in cash and cover all fees, closing costs, taxes, and insurance. You make an initial payment of 1% to 2% of the selling price, which goes straight to savings for your own future down payment.
Move in with built-in savings
Move in and make it home. Your monthly payment includes built-in savings that grow into a down payment over time. (Our program is designed for Divvy customers to become mortgage-eligible within 3 years.)
Buy your home, or walk away with savings
Buy your home when the time is right. Change of plans? You can also move out early (with a 60-day notice) and keep your Divvy savings (minus a relisting fee).
How does pricing work?
Pricing varies depending on the home, your initial payment, and your monthly savings.
You make a one-time, upfront payment (1%–2% of your home’s value) that goes straight toward savings for your future down payment.
Rent + home savings
Your rent with Divvy is based on the home’s location, size, condition and features. Your home savings are set aside monthly and designed to build toward your future down payment.
Who’s a good fit for Divvy?
If you can get approved for a traditional mortgage today, we say: Go for it. But Divvy is ideal if…
You could use help saving up for a down payment
With Divvy, savings for your down payment are built right into your monthly payment, so they add up over time. In 3 years (or even sooner), you can afford a 10% down payment on your home.
Your credit score isn’t quite there yet
We accept a minimum FICO credit score of 550—so even if you’ve hit a few bumps in the road, Divvy could be the right partner for you. Once you’ve moved into your home, we’ll pair you with a free credit counselor to help you get ready for your own mortgage.
You’re self-employed or got a new job
Divvy looks at your last 3 months of income when determining your home-shopping budget, which makes us a great option if you’re self-employed or recently started a new position. (Congrats, either way.)
You want a more competitive offer
Divvy gives you the power of an all-cash offer, which sets you apart in today’s competitive market and helps you secure your dream home.
You want to try before you buy
At Divvy, we move fast and our program is flexible. Which means you get into your dream home sooner and – if life changes – you’re not locked in. Who says you shouldn’t be able to try-before-you-buy anyways?
How do I qualify for Divvy?
Here’s what you’ll need to qualify for Divvy:
- Minimum FICO score of 550*: Even if you’ve hit a few bumps in the road, Divvy could be the right partner for you. Once you’ve moved into your home, we’ll pair you with a free credit counselor to help you get ready for your own mortgage.
- Minimum monthly household income of $2,500: Adding a co-applicant during the application process may help you reach this minimum. Minimum required income will depend on factors like your current debt levels and home prices in your metro area.
- Employment history for the last 3 months: Divvy looks for 3 months of steady income, which makes us a great option if you’re self-employed or have recently started a new job.
- Debt-to-income (DTI) ratio: We look at your debt-to-income ratio, which measures how much of your monthly income goes toward your monthly debt payments. You can calculate this by dividing your monthly debt payments (such as car, student loan, personal loan, rent, and minimum credit card payments) by your monthly income (before taxes).
- Background check: We run a background check to ensure there are no bankruptcies or evictions in the last 12 months.
- A valid government-issued photo ID
Learn more about our qualifications here
What’s involved in the application?
Applying for Divvy is completely free, takes 5 minutes online, and comes with no commitment. It also won’t impact your credit score. Don’t worry if your financial picture isn’t perfect—we get that life happens, and everyone’s situation is different.
After applying, you’ll get your estimated home-shopping budget. We’ll then verify your application and you’ll receive your approved shopping budget in 2 business days.
As part of the application process, we’ll ask you for the following:
- Contact information
- When you’re planning to move
- Where you want to live
- If you’re currently working with a real estate agent
- If you’re applying with another person
- Your current financial situation (gross monthly income and current rent)
- Personal information to run a soft credit check
- Employment information
- Background check
- Proof of identity
How does Divvy make money?
Divvy makes money from your monthly rent payments and from the home’s appreciation over time. That’s it. What’s unique about Divvy is that we care about your long-term success:
You get to save for a future down payment.
About ¼ of every monthly payment goes toward your savings for a mortgage of your own. Whenever you’re ready, you can either use those savings to buy your home from us or move out and keep your savings, minus a relisting fee.
You also benefit from home appreciation.
When you move in with Divvy, we give you the option to buy your home from us at a preset price in the future, whenever you’re ready. If the home’s value rises higher than that, your preset price stays the same—meaning you could buy your home for less than its market price.
Can I choose any home on the market?
For the most part: yes, you can! Divvy lets you shop homes that are listed for sale and within your approved Divvy budget. There are a few exceptions—like no manufactured homes or foreclosures—but most homes work. Go home shopping with your own real estate agent, or we’ll pair you with one of our trusted agents. Once you choose the perfect home for you, we buy it, and the keys are yours. Learn more about home eligibility here.
How does Divvy compare to renting?
Rent-to-own, sometimes referred to as lease-to-own, gives renters the opportunity to prepare for homeownership while they rent. With Divvy, you can choose almost any home on the market and rent it from us while you save up to buy.
Additionally, when you rent with Divvy, you get the following benefits over a traditional rental:
- Dedicated agents and quality evaluators to ensure your home is move-in ready.
- You can customize your home – paint, landscape, bring your pets.
- Transparent pricing with easy lease extensions.
- Option to save toward a down payment.
When can I buy my home from Divvy?
You can buy your home at any time during your 3-year lease, whenever you’re ready. You’ll know what your purchase price options are before you sign the lease, with a lower pre-set purchase price if you buy your home in the first 18 months of your lease.
What if my plans change after I move in?
We know that things change, and you might want or need to move out instead of buying your home. You have the option to end your lease early (with a 60-day notice) and keep the savings you built with Divvy, minus a relisting fee for your home. (The relisting fee is a percentage of the initial purchase price, equal to 2% of the initial purchase price.)
Who covers the inspection and closing costs?
Divvy pays for a home quality evaluation, closing costs, property taxes, and homeowner’s insurance on the initial purchase and while we own the home. Since we own it until you buy it for yourself, we make sure that every home we purchase is a solid investment and in good shape for the long haul. You will be responsible for closing costs, property taxes, and homeowner’s insurance once you complete our program and buy the home.