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  2. How does the Divvy program work?

Home Savings FAQs

Think of monthly savings like your home savings account. You start out with at least 2% in savings, and build toward 5% or 10% savings over your lease. You can use your home savings towards the down payment and/or closing costs to purchase the home a

What are home savings contributions? 

Home savings is the amount that a customer pays to Divvy on a monthly basis, in addition to their monthly rent payment. These savings are set aside to help build towards a future down payment for the customer (typically 5-10%).

There are two types of home savings plans – Fixed and Flexible. 


What is a flexible home savings plan? 

When on a flexible savings plan, Divvy does not require any monthly savings. Instead, tenants have the option to choose when and how much they save with Divvy. In 3 years, tenants can choose to save up to a 10% down payment for their Divvy home.

Note: 2|2 FLEX is the only eligible build for flexible home savings today


What is a fixed home savings plan? 

When on a fixed savings plan, savings for your down payment are built right into your monthly payment, and add up over time. In 3 years, tenants can save up to a 10% down payment for their Divvy home.

Note: 2|5, 2|10, 1|5 are the only eligible build for fixed home savings today


What is a home savings target?

The savings target is the estimated percentage down needed for your future down payment to help you qualify for a mortgage when you’re ready. 

Note: for 2|5, 1|5, 2|10 savings targets are fixed and represented by the second number in the build (e.g. 2|10 is 2% down, 10% savings target); for 2|2 FLEX Divvy recommends a 5% savings target.


What does total home savings mean?  

This amount is the total savings that you have accrued during your lease. These savings include your initial down payment, any monthly saving contributions and any appreciation of savings to date. When you are ready to purchase the home, your Total Home Savings are applied towards your down payment.


What does total saving contributions to date represent?

This is the total amount that a customer has contributed to their Divvy savings so far, inclusive of their initial payment and any monthly savings contributions to date.


What is savings appreciation?

The total amount of savings appreciation based on all historical contributions (initial payment, monthly home savings) available to a customer if they choose to initiate a buy back of the home.