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 prequalified5 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
Get your home-shopping budget, then work with our team to choose from our inventory of move-in-ready homes* that you can self-tour.
Move into your dream home
Since we own our homes, you don’t have to navigate through a typical closing process or do any competitive bidding. You’ll make an initial payment of 1-2% of the home price, which goes straight to saving toward your future down payment**, and get a guaranteed move-in date.
Start saving for homeownership
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
When the time is right, you can buy your home at a pre-determined price you'll always know. Or, walk away with your Divvy savings (minus a relisting fee) at the end of your lease if plans change.
How does pricing work?
Pricing varies depending on the home, your initial payment, and your monthly savings.
Initial payment
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.
*Your monthly home savings make up approximately 10-25% of your total monthly payment (or roughly .10-.25% of your home’s value). For example, on a $200,000 home, approximately $200-500 per month of your monthly payment would go toward your home savings.
To find out your personal home-shopping budget, get prequalified. It’s completely free, takes 5 minutes, and doesn’t affect your credit score.
Get prequalified
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
* Not all FICO scores are calculated the same way—we use Experian as our credit bureau and look for at least 1 industry standard 3rd party model score greater than or equal to 550. Your score through your credit card company or third-party service could appear differently. Our credit requirements are also subject to change at any time.
** We may still be able to move forward if a bankruptcy has been cleared for more than one year.
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.
What homes can I choose with Divvy?
You can choose from Divvy’s inventory of move-in-ready homes* – all listed here. These are exclusive homes only available to Divvy applicants, so you don’t have to worry about competitive bidding or complex closing processes. Plus, you can self-tour with or without your real estate agent.
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.
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