5 steps from rent to own.
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 anytime 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 a fair market rent for your area. Your monthly home savings* are separate, and we set them aside for you to save up little by little for 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 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.
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
- Proof of income and initial payment verification
- Background check
- Proof of identity
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.
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.
Am I locked in for 3 years?
Nope. 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 and walk away at any time, and you’ll keep all of 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 the inspection process, 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.