What kind of home can I buy with Divvy?

One of the great things about Divvy’s rent-to-own program is that you can choose almost any home on the market—but there are a few things to look out for when home shopping, to make sure your dream home works with Divvy. Here are some key things to keep in mind when home shopping!

Eligible homes

Most move-in ready homes on the market are eligible for the Divvy program. We want to make sure your new home will pass a thorough inspection and will serve as a high-quality home for years to come! Here are a few hints that a home is eligible for our program:

  • It’s a single-family home—Divvy works great with these kinds of homes
  • The property includes land—we want to make sure you own the entire property, not just the house
  • The listing features “move-in ready”—this usually means that there are no substantial repairs needed, so you can live in your home from day one!
  • The home fits both your monthly and overall budget—we want to ensure you can afford your monthly payments, and that you’ll be able to save up to buy it within three years

Homes we avoid

There are a few types of homes we avoid because we want your home to be high-quality and move-in ready from day one. Here are some things to look out for:

  • A condo or apartment—we can’t buy these homes unless the title is “fee simple” (your realtor will know to look out for this!)
  • Fixer-uppers, or homes sold “as-is”—as the description suggests, these homes aren’t usually ready for you to live in immediately
  • Foreclosures, pre-foreclosures, or short sales—like the above, these homes tend to be sold “as-is,” meaning they might not be move-in ready
  • Bank-owned / county-owned, or Fannie / Freddie-owned—your realtor will know to look out for this!
  • Manufactured or mobile homes—we want you to own the land underneath your home, and make sure that it’s a solid investment for you
  • Some homes in gated communities, or with specific HOA (Homeowners Associations) restrictions—some of these types of homes can have restrictions on renting, meaning Divvy may not be able to rent the home to you while you save to buy it

Tips for home shopping

Understanding the eligibility requirements for a Divvy home while you’re shopping can be challenging, so our first tip is to lean on your realtor. They should have a strong understanding of the Divvy requirements and help filter out listings that might not be suitable for the program—before you have a viewing.

We also recommend using Divvy’s home shopping search tool! Our search tool will also notify you if there are any red flags on the listing (like the list above). If you’re logged in to your Divvy portal, your monthly and total home budget will be auto-populated into any listing you look at so you can know if it will work for you.

Ready to start home shopping? Get started with Divvy today!

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