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  2. How does the Divvy program work?

How does Divvy compare to renting?

With Divvy, you get the flexibility of renting, while also moving closer to homeownership! 

There are some important differences between Divvy and renting you should know before getting started.

  • You may contribute a portion of your monthly rent payment to go directly towards savings—money you can use towards your future down payment on the home*.
  •  You can choose from our “Divvy Ready homes”.
  • Divvy will cover all major repairs and maintenance to ensure your home is safe and habitable during your lease, and unlike a rental, you have the option to customize** your home to meet your needs.
  • If you don’t love your home, you can walk away and cash out your Divvy Savings.*** 

Ready to get started on your pathway to home ownership? Get Pre-Qualified Now

Or, learn more about Divvy here

*Subject to lender rules and regulations, where applicable. Lenders have different rules regarding how much of your Divvy Savings can be applied to your down payment and how much can be applied to cover your closing costs. Please discuss these requirements with your lender to ensure you have adequate funds to close.

**You are not permitted to undertake major renovations, perform any work requiring a permit, or make any modification to major mechanical or structural components, including without limitation electrical, plumbing, mechanical or foundation (examples include kitchen remodeling, additions to the home, etc.). You may make minor alterations at your own expense (for example re-painting, re-landscaping, etc.), so long as these alterations do not require any permits or other similar approvals or impose any liens whatsoever upon the Premises.

***Subject to a “surrender fee” equal to 2% of the home’s initial purchase price and other fees and expenses owed to Divvy, as further detailed in your lease and option agreement.

 

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