We created Divvy with one goal in mind: to simplify the home buying process. We knew that by removing complications and barriers, we could bring the joy of homeownership to more people.
To make this process easier, Divvy crafted three tenets for simplifying the homeownership process.
1. Make qualifying easier
2. Directly help prospective homeowners find their home
3. Help buyers navigate the often complex and confusing mortgage process
Here is how we are incorporating and activating those tenants.
Streamlined Application Process
When crafting the Divvy system, we knew that our qualification system needed to be simple, intuitive, and available to a broad range of customers. There are various types of mortgage lenders, each of whom possess different underwriting criteria. This complex system can make it difficult to determine where to begin when looking to buy your first home.
But with Divvy, our application process is completely streamlined: All it takes to get started is a 15-minute application. To determine eligibility, we look at your income and run a soft credit check.
Here is all you will need to complete your 15-minute Divvy application;
Photo ID
Two forms of income documents or bank statements (note: Divvy only requires six months of income history, whereas most mortgage lenders will require two years of documentation)
A background check
Proof of a down payment (this amount is comparable to that of a security deposit and is substantially less than a mortgage down payment).
Divvy will respond to your application within 48 hours, and if we do not require any additional documentation, you will be provided with a budget, an agent, and all the things you need to begin shopping for your home.
Open Home Shopping System
Divvy does not hold its own inventory of homes, allowing you the freedom to choose from any home in the Divvy market of Cleveland, Atlanta, and Memphis. If you do not have your own agent, we will pair you with one carefully selected for your exact needs.
Once you find your dream home within your monthly budget, we will work alongside your agent to create the best, most competitive offer. Then Divvy will schedule all home inspections and handle any tedious closing tasks for you.
Even better, we will pay all closing costs, including inspection. We know that the closing process can be very complex, and we want to ensure that the home you select is of the highest quality. With your consultation, our team of professionals will be able to ensure that you are set up for success every step of the way.
Once the home closing process is complete, you are now ready to move into your new home!
Enhanced Mortgage Preparations
A lease with Divvy lasts for a term of three years, but you have the option to buy back the home whenever you are ready. The benefit of Divvy is that you don’t have to make that decision alone. Divvy will be alongside you to help determine when is the right time to buy back your property.
With each payment, you become one step closer to your final goal of home ownership, but Divvy goes beyond structuring a mechanism for savings. We also provide free credit counseling to ensure that you are in the best position possible for homeownership. Even if your credit is already strong, our counseling system helps clients prepare all the necessary documentation and guide you through the mortgage system.
So there you have it! With Divvy, buying a home has never been simpler. All you need is a credit score, income documentation, savings for a down payment and most importantly; a dream house. And we are there to help you with every step of the journey.
Homeownership is a dream that we fundamentally believe every American should be able to afford. So if you’re ready to get into the home of your dreams, shoot us an email at support@divvyhomes.com, and let’s get started.