What will my Divvy journey look like start to finish?

From the start of your application all the way down to move-in day, we want to make sure our process is as simple as possible for our customers. Here’s a breakdown of what you can expect from start to finish:

  • Apply online and we’ll run a soft credit check to see whether you’re eligible for the program. Don’t worry—this won’t affect your credit score! (We require a minimum credit score of 550)
  • Once you’re pre-qualified, we’ll ask for permission to run a background check and get a copy of your photo ID, proof of income documents, and proof of funds for your initial home savings contribution (or down payment).
  • We’ll review your application and usually get back to you within 24-48 hours to let you know if you’re approved to go home shopping. We'll get in touch if we need any additional documents.
  • After approval, you’ll receive an email including your Divvy approved monthly budget and estimated home budget range.
  • It’s now time to go home shopping with your agent—remember to keep saving while you shop!
  • Once you find the perfect home, your agent will submit a request for our team to make an offer. We’ll work closely with your agent to come up with the most competitive offer price for your chosen home.
  • We’ll share our proposed offer price with you, and provide details on all your payments for the upcoming lease, including your monthly home savings and future buyback price. 
  • We’ll ask for your permission to move forward with the offer and pay a deposit towards your down payment ($500—this money will be credited toward your home savings once the offer is accepted). Once you provide approval, we’ll formally submit an offer to purchase the property. 
  • If the offer is accepted, we’ll take care of all the closing requirements at no cost to you. Don't worry, as our partner in the home buying process, we’ll keep you in the loop the whole time!
  • At this point, we’ll ask that you pay your initial home savings contribution (or down payment, 1-2% of the purchase price) and complete a final walkthrough of the home. 
  • Assuming the home passes inspection, we’ll ask you to pay your first month’s rent approximately 7 days before your move-in date. (Any pro-rated rent for the current month will also be requested). 
  • Once you’ve made all the required payments and signed the lease, you’ll be ready to move into your new home!
  • Whenever you’re ready to buy back your home, our team will work closely with you to get everything prepared.

If you’re ready to start your homeownership journey, get pre-qualified here