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What are savings and how do they work?

How we help a customer build towards a down payment for a future purchase

You can think of the monthly contributions like a savings mechanism used to save cash to be used towards purchasing a home.* 


Every Divvy customer starts out contributing an initial payment of 1-2% of Divvy’s purchase price of the property. This is their initial savings contribution. Then, each month they have a monthly payment to Divvy, which includes two components: rent and savings. With each monthly payment the savings component helps them save to a goal of 5-10% of the purchase of the home over 3 years. Percentages vary in relation to the FICO score of the applicant.


Below are the current savings plans available to Divvy customers  based on their FICO scores:

FICO 650 +

2% Down, 2% Build

FICO 650 +

1% Down, 5% Build

FICO 600 +

2% Down, 5% Build

FICO 550 +

2% Down, 10% Build

The savings contributions may be used towards the cost of the down payment and/or closing costs to purchase the home.* 

*Subject to lender rules and regulations, where applicable.