When evaluating applicants, Divvy Homes uses the following minimum criteria:
- A FICO score of at least 550*: All applicants need to pass a soft credit check—this won’t affect the applicant’s credit score. We’ll look at the applicant’s FICO 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 the applicant’s eligibility. If this happens, we’ll reach out to the applicant and explain how to move forward.
- A minimum monthly household income of $2,500: Applicants can add a co-applicant during the application process. The exact minimum required income will depend on factors like, current debt levels and home prices in the desired metro area.
- 3 months of verifiable income: We look for 3 months of steady income. Applicants are able to add multiple income sources including self-employment. Just know that self-employed income can take a little longer to verify.
- Background check: We run a background check to determine the applicant’s rental history and criminal background. For criminal background checks, we evaluate the recency and severity of any convictions. Divvy does not have a “no prior felonies” policy for applicants.
- A valid government-issued photo ID
*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.