What are the requirements to get approved for Divvy Homes?

You can apply online in minutes to find out if you may be pre-qualified for the Divvy program. Eligibility is determined by a variety of factors including credit profile, income, and background check. 

Here are the minimum qualification requirements we consider: 

• A credit score of at least 550*: All applicants need to pass a soft credit check—this won’t affect your credit score. We’ll look at your credit score, recent loan delinquencies, and any foreclosures or bankruptcies**.
• In some cases, a soft credit check might not provide Divvy with enough information to determine your eligibility. If this happens, we’ll reach out and explain how to move forward.

• A minimum monthly income of $2,500: You can add a co-tenant during the application process. The exact minimum required income will depend on factors like your current debt levels and home prices in your desired metro area.

• 3 months of verifiable income: We look for 3 months of steady income. Keep in mind that self-employed income can take a little longer to verify. Learn more about our income documentation requirements here.

• 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. For rental history, no evictions should have occurred or been filed in the last 5 years.

• A valid government-issued photo ID
• 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).
  • Note: Depending on your credit score, we may also look at your rent-to-income (RTI) ratio, which measures how much of your monthly income goes toward your monthly rent payments.

*Be aware that not all FICO scores are calculated the same way—we use Experian as our credit bureau. 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.