Meet Divvy: A startup that aims to revolutionize the rent-to-own process.
Here’s how it works: You pick the house you want to buy. Divvy buys it. You pay Divvy a down payment of as little as 2 percent. After three years, renters own 10 percent, typically enough to qualify for a mortgage and buy Divvy out.
How does rent-to-own work? A rent-to-own home is a house you can buy through a rent-to-own agreement. As part of the contract, the seller agrees to hold a designated amount of money of each rent payment to go toward the buyer’s equity in the home when they purchase it.
Divvy believes in the value of home-ownership and thinks it should be accessible to more people. They find cities where owning a home makes good financial sense, and then offers renters the ability to transition to home-ownership with their 3 year program.
Want to know more? Please call or text me at (214) 400 – 3025.