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Save with Divvy

Saving with Divvy comes with benefits

As a benefit of being a Divvy customer, the money you contribute to your Divvy savings grows with the appreciated purchase price of your home, so you get a boost to your cash contributions when you’re ready to buy the home from us. 

Whether you’re on a Divvy payment plan with flexible or fixed monthly savings contributions, this savings benefit applies to every Divvy customer that buys the home from us.  You can use your accumulated Divvy savings towards the down payment and/or closing costs to purchase the home.* (This benefit is only available to customers who buy the home from us and is not otherwise eligible to be cashed out.)

Why is saving important? 

It’s important to build up savings over the years that you rent and live in the home so you’ll have the funds required by lenders to put towards your future down payment and to cover closing costs.* 

Your monthly savings contributions are designed to help you stay on track and save toward home ownership. Depending on the payment plan you have with Divvy, you may have an overall savings goal of 5% to a maximum of 10% (of your applicable purchase price) to help you purchase the home when you’re ready. 

  • If you have a fixed monthly savings payment plan, you’ll have a set monthly savings contribution designed to help you achieve your savings goal over a 3 year period that can help you buy the home when you’re ready. 
  • If you have a flexible monthly savings payment plan, you can set your own monthly savings contribution amount. We recommend a savings goal of 5% (of your applicable purchase price) to help you save and buy the home at your own pace. 

How can I track my Divvy savings? 

You can track your savings growth with the savings widget in Divvy Portal. Monitor the savings you directly contributed and the appreciated savings benefit that you’re eligible to get from Divvy if you purchase the home. 

The savings you contribute with Divvy grows with your appreciated home purchase price, so you get a boost to your cash contributions when you’re ready to buy the home from us. 

How do I access my Divvy savings? 

It’s important to note that your savings contributions with Divvy cannot be accessed or withdrawn from your Divvy account until you purchase the home from us or if you terminate the lease. If you decide not to purchase the home and need to walk away from your lease, Divvy will refund your savings contributions minus 2% of the initial purchase price of the home (referred to as the re-listing fee or surrender fee in your option agreement) and any outstanding fees and payments owed to Divvy.

*Disclosure: Your contributions are not held in a savings account and are not FDIC insured. The allocation and amount of your savings able to be distributed to the down payment and/or closing costs may vary and is subject to your lender’s rules and requirements for your loan. Please discuss this allocation and distribution with your lender to ensure you have adequate funds to close.