Affordable Houses Available Now through Divvy Homes

Homeownership has become increasingly difficult in recent years. With soaring housing prices and rising interest rates, many hopeful buyers are priced out of the market. Rent-to-own programs like Divvy Homes offer a valuable alternative path to owning your own home.

Divvy Homes is a company providing an innovative rent-to-own model for homebuying. Their program allows you to lease a quality home for one to three years while also building equity. A portion of your monthly payment goes into a down payment fund. At the end of your rental term, you can use your accrued down payment and take over the mortgage to purchase the home.

What is Divvy Homes Rent-to-Own Program?

Divvy's rent-to-own program aims to help motivated renters become homeowners. Here's an overview of how it works:

• You rent the home for 1-3 years and make an affordable monthly lease payment
• A portion of that payment builds your down payment
• Maintenance and repairs are covered during the lease
• At lease-end you can use your down payment to buy the home

Unlike traditional renting, the Divvy program lets you build equity. And you aren't tied to long-term leasing before buying. Within 1-3 years, you can own your Divvy home.

Eligibility and Requirements

To quality for Divvy Homes, there are some basic criteria you must meet:

• Minimum 550 credit score
• Stable source of income
• Funds for security deposit
• Ability to cover monthly lease payments

The requirements aim to ensure you can manage the lease terms successfully. Applicants who meet the criteria can proceed to search available homes.

How the Leasing Phase Works

Once leased, you'll begin making monthly rent payments to Divvy. Here's a closer look at this rental period:

• Affordable payment based on the home's market value
• Portion allocated to down payment savings
• Divvy handles maintenance and repairs
• Build equity instead of paying your landlord

By contributing to your own down payment each month, you take steps towards future ownership. Divvy's model makes this phase cost-effective.

Where is Divvy Homes Available?

Divvy Homes currently operates in over 20 metropolitan areas across the United States. Some examples include:

• Phoenix, AZ
• Atlanta, GA
• Dallas/Fort Worth, TX
• Tampa, FL
• Charlotte, NC

To check if Divvy serves your region, search for homes on their website. Enter your city or zip code to view listings in your area. The available inventory shows where Divvy actively operates.

Finding a Home and Making an Offer

If Divvy has a presence in your metro, you can find available homes through their website. The process involves a few simple steps:

1. Search listings on Divvy's site and identify homes you like
2. Schedule a tour with a Divvy agent
3. Make an offer if you find the right home
4. Divvy reviews the property and submits offer if approved
5. Start the leasing process after the seller accepts

Divvy will ensure each home meets their criteria prior to making an offer. This guarantees quality and aligns with program guidelines.

The Divvy Home Buying Process

Here is an overview of the full rent-to-own process with Divvy from start to finish:

The flexible 1-3 year leasing period lets you get settled before buying. Within that timeframe, you can move from renter to owner.

Divvy Home Criteria and Locations

Divvy focuses on purchasing certain types of properties in specific areas. Ideal Divvy homes include:

• Single family detached homes
• Townhomes (not under condo association)
• At least 2 bedrooms
• Relatively new construction
• Competitively priced
• Move-in ready condition

In terms of location, Divvy targets affordable homes in metropolitan areas near city centers. Home values and demand in these areas make Divvy a viable option.

Pros and Cons of Divvy Homes

The Divvy rent-to-own model has many benefits but also some drawbacks to consider:

Potential Advantages

• Build equity during leasing period
• Payments may be more affordable than rent or mortgage
• Lock in purchase price early
• Lower credit barriers than traditional loans
• Maintenance covered by Divvy

Possible Disadvantages

• Limited to certain metro area markets
• Home selection constrained to Divvy inventory
• Exiting lease early has penalties
• Renting period does not build standalone credit

Divvy simplifies the path to homeownership but has some caveats. Understanding both the pros and cons allows buyers to make an informed decision.

Frequently Asked Questions

Who is eligible for Divvy?

Divvy requires a minimum 550 credit score, stable income, funds for upfront costs, and the capacity to cover monthly payments. Applicants who meet criteria can qualify.

What types of homes does Divvy offer?

Divvy focuses on newer single-family homes and townhomes with at least 2 bedrooms. Their inventory is available on their website in metro areas they cover.

Can I choose any house with Divvy?

No, Divvy only sells homes they pre-approve that meet their quality and financial criteria. You choose amongst their available inventory.

Divvy Homes opens the door to homeownership through an innovative rent-to-own model. By leasing from Divvy first, you can build savings and equity. Their program provides an affordable pathway and alternative solution.

In major metros across the US, Divvy is making quality homes achievable. Their inventory delivers choice and flexibility on the road to buying your own home. For many, Divvy unlocks the possibility of owning with less money down and lower barriers.

Through an intelligent rent-to-own platform, Divvy proves homeownership can still be attainable, even in today's market. With lease-to-buy flexibility and built-in savings, they empower renters on the path to owning.