These are the main requirements for you to qualify for the Divvy program:
Credit: The first step in the application process is for Divvy to complete a soft credit check. Soft inquiries do not appear on your credit report and do not impact your credit score.
To qualify for Divvy, you and any co-applicant must pass our credit check. This assessment looks at many factors from your credit history including, but not limited to, FICO score, debt-to-income, recent loan delinquencies, and any foreclosures or bankruptcies. Our credit requirements are subject to change at any time.
In some cases, the soft credit check may not provide Divvy with sufficient information to determine your eligibility. If this occurs with your application, Divvy will reach out and explain how to proceed.
Income Verification: You must be currently receiving income and be able to provide documentation for any income you receive. Common forms of acceptable documentation include recent paystubs, W2s, bank documentation, and tax returns. We may ask for additional financial information if your primary source of income is from running a small business.
The goal of income verification is to make sure that you can comfortably afford a monthly Divvy payment in addition to any other debt obligations you may have.
Proof of Down payment: We require all tenants to pay a down payment before closing on a home, generally 2% of the home’s value. In most cases we require applicants to provide proof of having access to the full down payment amount before Divvy will make an offer on a home.
Background Check: We run a background check to determine your rental history and criminal background. For criminal background checks, we evaluate the recency and severity of any convictions.
Photo ID: We require a current government-issued photo ID.
Qualification steps do not need to be completed at the same time; you are welcome to begin the application process by completing the soft credit check and complete the other steps at a later time.
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