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Divvy Homes Review: Rent Now, Buy Later

by Floyd Brooks Last Modified: October 14, 2022

Divvy Homes, as its name implies, is making homeownership easier for some buyers by helping them save for a down payment and helping renters become qualified buyers within 3 years through their approach to rent-to-own homes also known as lease purchase agreements. 

How Does Divvy Homes’ Rent-to-Own Program  Work

The rent-to-own process with Divvy Homes is quite simple and fully disclosed. 

  1. The customer applies through their website. Divvy then approves the customer for a set limit on their purchase price and rent. 
  1. The client shops for a home and makes a cash offer on a home with their real estate agent on the home that they want to buy. 
  1. Divvy charges a fee of 2% to 3% of the purchase price of the home. This money goes directly towards savings for the home’s future purchase. 
  1. The renter makes above-market-rate payments. The rent is around 25% more than the comparable market rent. That 25% goes towards a savings account that can be used by the renter towards their down payment when they decide to buy the home from Divvy at the end.
  1. If the customer decides not to buy the home back from Divvy, Divvy will charge a relisting fee of 1.5%. This fee is deducted from the savings account.

What is the Catch? How Does Divvy Homes Make Money

Divvy makes money from the monthly rent that they charge. The monthly rent that they charge includes all the expenses involved in owning a home (mortgage, taxes, insurance, and other fees). 

When Divvy rents that home, they are charging you a fee to cover all of their expenses, plus they are charging you an additional 25% that goes towards your savings escrow account. This money can be used by the renter in the future towards their down payment or can be used to buy another property if you decide not to exercise your option to purchase. 

If you decide not to purchase the home from Divvy when your purchase option matures, Divvy may end up charging you a “relisting fee” if you choose not to exercise your option to purchase the home at the set future price of the home.

What is the Credit Score Limit for Divvy Homes?

The minimum credit score to qualify through Divvy’s rent-to-own program is 550.

Which Homes Are Eligible for Divvy?

Divvy does not have a limit as to when homes were built. Generally, they would prefer that homes are newer or in good condition. That means that the home will not need expensive repairs.

Type of Homes:

  • Single-family homes or Townhomes
  • Condos are not eligible

Price Limit

  • For the Metro Atlanta  market, Divvy limits homes to between $130K to $500K. 

Size of Lot

  • The lot cannot be larger than 2 acres.

Home Condition Limit

  • HVAC less than 15 years old.
  • Water heater less than 10 years old
  • Roof that is less than 15 years and in good condition

Distressed Properties

  • Divvy does not finance properties that are in distress or close to being distressed. 
  • Divvy does not purchase foreclosures, pre-foreclosures, short sales, bank-owned, county-owned, or Fannie/Freddie-owned properties.

Who is responsible for Repairs During the Lease?

Divvy does not cover cosmetic issues with a property such as peeling or fading paint and dings in drywall. 

They are primarily concerned about issues that may affect the safe habitation of a property. These may include issues with the HVAC system, roof, water, foundation, etc. 

Divvy Will pay the contractors directly after the repairs are satisfactorily completed. 

Divvy must approve repairs being done to the property. 

Who is Divvy’s Rent to Own Program For?

In short, Divvy’s rent-to-own program is best for people who are close to qualifying for a home through a traditional mortgage company, however, they fall just short of qualifying. 

This program allows future homeowners time to get on their feet as they get a foot in the door of homeownership.

Get Started With Divvy Homes

Rent to Own With Divvy

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Neighborhoods

Just Listed For Sale in Atlanta

2812 Memorial Drive SE Atlanta GA 30317
New Listing - 50 minutes online
1 / 1
$749,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
2,500
SQFT
2812 Memorial Drive SE
Atlanta, GA 30317
 
2407 Sandfall Court SW Atlanta GA 30331
New Listing - an hour online
1 / 1
$240,999
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
1,330
SQFT
2407 Sandfall Court SW
Atlanta, GA 30331
Sandlewood Estates Subdivision
3049 Nottaway Court Atlanta GA 30341
New Listing - an hour online
1 / 28
$539,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
2,484
SQFT
3049 Nottaway Court
Atlanta, GA 30341
Nottaway 2 Subdivision
44 Adair Avenue SE Atlanta GA 30315
New Listing - an hour online
1 / 1
$175,000
Single Family Home For Sale
Active
3
BEDS
1
TOTAL BATH
1,453
SQFT
44 Adair Avenue SE
Atlanta, GA 30315
Lakewood Heights Subdivision
15 Cherokee Road NW Atlanta GA 30305
New Listing - an hour online
1 / 47
$4,500,000
Single Family Home For Sale
Active
4
BEDS
6
TOTAL BATHS
5,412
SQFT
15 Cherokee Road NW
Atlanta, GA 30305
Peachtree Heights Subdivision
300 W Peachtree Street NW Atlanta GA 30308
New Listing - an hour online
1 / 8
$219,000
Condo For Sale
Active
1
BED
1
TOTAL BATH
599
SQFT
300 W Peachtree Street NW #7H
Atlanta, GA 30308
Hotel District Subdivision
1316 Hill Street SE Atlanta GA 30315
New Listing - an hour online
1 / 40
$649,999
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
2,285
SQFT
1316 Hill Street SE
Atlanta, GA 30315
Chosewood Park Subdivision
2150 Shropshire Lane Atlanta GA 30316
New Listing - 4 hours online
1 / 1
$510,000
Single Family Home For Sale
Coming Soon
10
BEDS
3
TOTAL BATHS
2,938
SQFT
2150 Shropshire Lane
Atlanta, GA 30316
Brighton Village Ph 02 Subdivision
1162 SW Coleman St Streets SW Atlanta GA 30310
New Listing - 5 hours online
0 / 0
$329,900
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
1162 SW Coleman St Streets SW
Atlanta, GA 30310
Pittsburgh Subdivision
57 Forsyth Street NW Atlanta GA 30303
New Listing - 7 hours online
1 / 23
$209,000
Condo For Sale
Active
1
BED
1
TOTAL BATH
739
SQFT
57 Forsyth Street NW #11E
Atlanta, GA 30303
City of Atlanta Subdivision
220 Hillswick Court Atlanta GA 30328
New Listing - 10 hours online
1 / 4
$749,900
Single Family Home For Sale
Coming Soon
4
BEDS
3
TOTAL BATHS
2,900
SQFT
220 Hillswick Court
Atlanta, GA 30328
North Springs Subdivision
235 Westview Place SW Atlanta GA 30314
New Listing - 14 hours online
1 / 35
$519,000
Single Family Home For Sale
Active
5
BEDS
3
TOTAL BATHS
3,163
SQFT
235 Westview Place SW
Atlanta, GA 30314
 
795 Hammond Drive NE Atlanta GA 30328
New Listing - 16 hours online
1 / 35
$234,900
Condo For Sale
Active
1
BED
1
TOTAL BATH
769
SQFT
795 Hammond Drive NE #2112
Atlanta, GA 30328
Park Towers 1 Subdivision
1202 Key Road SE Atlanta GA 30316
New Listing - 16 hours online
1 / 45
$254,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
1,032
SQFT
1202 Key Road SE
Atlanta, GA 30316
 
5228 Wynterhall Court Atlanta GA 30338
New Listing - yesterday
1 / 18
$775,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
3,400
SQFT
5228 Wynterhall Court
Atlanta, GA 30338
Wynterhall Subdivision
2790 Kingston Terrace Atlanta GA 30344
New Listing - yesterday
0 / 0
$240,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
2,550
SQFT
2790 Kingston Terrace
Atlanta, GA 30344
 
1064 Thomasville Estate Way Atlanta GA 30315
New Listing - yesterday
1 / 24
$344,990
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
1,809
SQFT
1064 Thomasville Estate Way
Atlanta, GA 30315
Thomasville Estates Subdivision
1982 Baker Road NW Atlanta GA 30318
New Listing - yesterday
0 / 0
$394,500
Single Family Home For Sale
Coming Soon
3
BEDS
3
TOTAL BATHS
1982 Baker Road NW
Atlanta, GA 30318
Grove Park Subdivision
2010 Shawn Wayne Circle SE Atlanta GA 30316
New Listing - yesterday
0 / 0
$249,000
Townhouse For Sale
Active
3
BEDS
3
TOTAL BATHS
1,280
SQFT
2010 Shawn Wayne Circle SE
Atlanta, GA 30316
Rolling Ridge Phase-3 Subdivision
272 Murray Hill Avenue NE Atlanta GA 30317
New Listing - yesterday
1 / 1
$849,000
Single Family Home For Sale
Coming Soon
4
BEDS
3
TOTAL BATHS
2,537
SQFT
272 Murray Hill Avenue NE
Atlanta, GA 30317
Kirkwood Subdivision

Condos for Sale in Atlanta

2520 Peachtree Road NW Atlanta GA 30305
1 / 27
$7,950,000
Condo For Sale
Active
3
BEDS
6
TOTAL BATHS
7,200
SQFT
2520 Peachtree Road NW #2102
Atlanta, GA 30305
Graydon Buckhead Subdivision
3376 Peachtree Road NE Atlanta GA 30326
1 / 90
$6,500,000
Condo For Sale
Active
3
BEDS
5
TOTAL BATHS
4,863
SQFT
3376 Peachtree Road NE #56
Atlanta, GA 30326
Waldorf Astoria Subdivision
3107 Peachtree Road NE Atlanta GA 30305
1 / 96
$5,300,000
Condo For Sale
Active
4
BEDS
4
TOTAL BATHS
4,527
SQFT
3107 Peachtree Road NE #PH3
Atlanta, GA 30305
The Charles Subdivision
88 W Paces Ferry Road NW Atlanta GA 30305
New Listing - 4 days online
1 / 28
$5,130,000
Condo For Sale
Active
3
BEDS
4
TOTAL BATHS
4,132
SQFT
88 W Paces Ferry Road NW #1740
Atlanta, GA 30305
St Regis Subdivision
88 W Paces Ferry Atlanta GA 30305
1 / 33
$5,100,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
3,807
SQFT
88 W Paces Ferry #2230
Atlanta, GA 30305
St Regis Subdivision
88 W Paces Ferry Road NW Atlanta GA 30305
1 / 59
$5,000,000
Condo For Sale
Active
3
BEDS
4
TOTAL BATHS
4,132
SQFT
88 W Paces Ferry Road NW #2020
Atlanta, GA 30305
St. Regis Subdivision
88 W Paces Ferry Road NW Atlanta GA 30305
New Listing - 4 weeks online
1 / 44
$5,000,000
Condo For Sale
Active
3
BEDS
4
TOTAL BATHS
4,675
SQFT
88 W Paces Ferry Road NW #1840
Atlanta, GA 30305
St Regis Subdivision
2440 Peachtree Road NW Atlanta GA 30305
1 / 55
$4,995,000
Condo For Sale
Active
3
BEDS
5
TOTAL BATHS
5,100
SQFT
2440 Peachtree Road NW #1
Atlanta, GA 30305
Regents Park Subdivision
88 W Paces Ferry Road NW Atlanta GA 30305
1 / 42
$4,299,000
Condo For Sale
Active
3
BEDS
4
TOTAL BATHS
3,583
SQFT
88 W Paces Ferry Road NW #1540
Atlanta, GA 30305
St Regis Subdivision
2425 Peachtree Road NE Atlanta GA 30305
1 / 15
$4,199,000
Condo For Sale
Pending
3
BEDS
4
TOTAL BATHS
3,754
SQFT
2425 Peachtree Road NE #1803
Atlanta, GA 30305
The Dillon Buckhead Subdivision
3376 Peachtree Road NE Atlanta GA 30326
1 / 74
$4,100,000
Condo For Sale
Active
4
BEDS
5
TOTAL BATHS
5,157
SQFT
3376 Peachtree Road NE #49
Atlanta, GA 30326
Waldorf Astoria Subdivision
1301 Peachtree Street NE Atlanta GA 30309
1 / 125
$4,000,000
Condo For Sale
Active
3
BEDS
5
TOTAL BATHS
4,840
SQFT
1301 Peachtree Street NE #5L
Atlanta, GA 30309
One Museum Place Subdivision
88 W Paces Ferry Road NW Atlanta GA 30305
1 / 47
$3,999,000
Condo For Sale
Active
3
BEDS
4
TOTAL BATHS
3,583
SQFT
88 W Paces Ferry Road NW #1620
Atlanta, GA 30305
St Regis Subdivision
2425 Peachtree Road NE Atlanta GA 30305
1 / 22
$3,499,000
Condo For Sale
Pending
3
BEDS
4
TOTAL BATHS
3,227
SQFT
2425 Peachtree Road NE #1806
Atlanta, GA 30305
The Dillon Buckhead Subdivision
2425 Peachtree Road NE Atlanta GA 30305
1 / 15
$3,349,000
Condo For Sale
Pending
3
BEDS
4
TOTAL BATHS
2,985
SQFT
2425 Peachtree Road NE #1805
Atlanta, GA 30305
The Dillon Buckhead Subdivision
1301 Peachtree Street NE Atlanta GA 30309
New Listing - 4 days online
1 / 83
$3,275,000
Condo For Sale
Active
2
BEDS
3
TOTAL BATHS
2,569
SQFT
1301 Peachtree Street NE #5F
Atlanta, GA 30309
One Museum Place Subdivision
1301 Peachtree Street NE Atlanta GA 30309
1 / 60
$3,000,000
Condo For Sale
Pending
3
BEDS
4
TOTAL BATHS
3,310
SQFT
1301 Peachtree Street NE #4A
Atlanta, GA 30309
One Museum Place Subdivision
2440 Peachtree Road NW Atlanta GA 30305
New Listing - 2 weeks online
1 / 55
$2,950,000
Condo For Sale
Active
3
BEDS
5
TOTAL BATHS
2440 Peachtree Road NW #4
Atlanta, GA 30305
Regents Park Subdivision
3107 Peachtree Road NE Atlanta GA 30305
Price Change - 3 weeks ago
1 / 33
$2,900,000
Condo For Sale
Active
3
BEDS
4
TOTAL BATHS
3,867
SQFT
3107 Peachtree Road NE #1102
Atlanta, GA 30305
The Charles Subdivision
40 12th Street NE Atlanta GA 30309
1 / 35
$2,651,991
Condo For Sale
Active
4
BEDS
4
TOTAL BATHS
2,537
SQFT
40 12th Street NE #1906
Atlanta, GA 30309
40 West 12th Subdivision

New Construction Homes for Sale in Atlanta

2520 Peachtree Road NW Atlanta GA 30305
1 / 27
$7,950,000
Condo For Sale
Active
3
BEDS
6
TOTAL BATHS
7,200
SQFT
2520 Peachtree Road NW #2102
Atlanta, GA 30305
Graydon Buckhead Subdivision
154 Walker Street Atlanta GA 30313
1 / 46
$7,900,000
Commercial For Sale
Active
14,564
SQFT
154 Walker Street
Atlanta, GA 30313
 
2762 Normandy Drive NW Atlanta GA 30305
New Listing - 3 weeks online
1 / 43
$7,895,000
Single Family Home For Sale
Active
5
BEDS
8
TOTAL BATHS
10,500
SQFT
2762 Normandy Drive NW
Atlanta, GA 30305
Buckhead Subdivision
4390 Paran Place NW Atlanta GA 30327
New Listing - 7 days online
1 / 29
$7,000,000
Single Family Home For Sale
Active
8
BEDS
13
TOTAL BATHS
12,337
SQFT
4390 Paran Place NW
Atlanta, GA 30327
 
3910 Powers Ferry Road Atlanta GA 30342
1 / 62
$6,995,000
Single Family Home For Sale
Active
6
BEDS
7
TOTAL BATHS
10,203
SQFT
3910 Powers Ferry Road
Atlanta, GA 30342
Buckhead Subdivision
914 Buckingham Circle NW Atlanta GA 30327
New Listing - a week online
1 / 50
$5,995,000
Single Family Home For Sale
Active
7
BEDS
9
TOTAL BATHS
10,300
SQFT
914 Buckingham Circle NW
Atlanta, GA 30327
Buckhead Subdivision
1297 Swims Valley Drive NW Atlanta GA 30327
1 / 47
$5,990,000
Single Family Home For Sale
Active
6
BEDS
8
TOTAL BATHS
9,707
SQFT
1297 Swims Valley Drive NW
Atlanta, GA 30327
Buckhead Subdivision
4720 Merlendale Drive Atlanta GA 30327
1 / 26
$4,950,000
Single Family Home For Sale
Active
6
BEDS
7
TOTAL BATHS
13,100
SQFT
4720 Merlendale Drive
Atlanta, GA 30327
Chastain Park Subdivision
299 The Prado NE Atlanta GA 30309
New Listing - 2 weeks online
1 / 58
$4,750,000
Single Family Home For Sale
Active
7
BEDS
9
TOTAL BATHS
7,402
SQFT
299 The Prado NE
Atlanta, GA 30309
Ansley Park Subdivision
4645 Jettridge Drive NW Atlanta GA 30327
1 / 19
$4,650,000
Single Family Home For Sale
Pending
7
BEDS
11
TOTAL BATHS
8,783
SQFT
4645 Jettridge Drive NW
Atlanta, GA 30327
Chastain Park Subdivision
1155 Regency Road NW Atlanta GA 30327
New Listing - 3 weeks online
1 / 26
$4,600,000
Single Family Home For Sale
Active
6
BEDS
9
TOTAL BATHS
7,195
SQFT
1155 Regency Road NW
Atlanta, GA 30327
Randall Mill Estates Subdivision
5060 Lake Forrest Drive Atlanta GA 30342
1 / 71
$4,397,000
Single Family Home For Sale
Active
6
BEDS
8
TOTAL BATHS
7,361
SQFT
5060 Lake Forrest Drive
Atlanta, GA 30342
Chastain Park Subdivision
2425 Peachtree Road NE Atlanta GA 30305
1 / 15
$4,199,000
Condo For Sale
Pending
3
BEDS
4
TOTAL BATHS
3,754
SQFT
2425 Peachtree Road NE #1803
Atlanta, GA 30305
The Dillon Buckhead Subdivision
600 Colebrook Court Atlanta GA 30327
1 / 75
$4,195,000
Single Family Home For Sale
Active
6
BEDS
10
TOTAL BATHS
12,314
SQFT
600 Colebrook Court
Atlanta, GA 30327
Powers Ferry Estates Subdivision
41 Carlton Drive NE Atlanta GA 30342
1 / 55
$4,190,000
Single Family Home For Sale
Active
6
BEDS
9
TOTAL BATHS
7,856
SQFT
41 Carlton Drive NE
Atlanta, GA 30342
Chastain Park Subdivision
904 Plymouth Road NE Atlanta GA 30306
1 / 1
$3,995,000
Single Family Home For Sale
Active
6
BEDS
8
TOTAL BATHS
6,000
SQFT
904 Plymouth Road NE
Atlanta, GA 30306
Morningside Subdivision
1480 Mount Paran Road NW Atlanta GA 30327
New Listing - 2 weeks online
1 / 62
$3,750,000
Single Family Home For Sale
Active
6
BEDS
8
TOTAL BATHS
7,221
SQFT
1480 Mount Paran Road NW
Atlanta, GA 30327
Buckhead Subdivision
1026 Reeder Circle NE Atlanta GA 30306
1 / 16
$3,695,000
Single Family Home For Sale
Active
6
BEDS
6
TOTAL BATHS
5,856
SQFT
1026 Reeder Circle NE
Atlanta, GA 30306
Morningside Subdivision
111 Lake Forrest Lane NE Atlanta GA 30342
1 / 50
$3,500,000
Single Family Home For Sale
Active
6
BEDS
9
TOTAL BATHS
7,310
SQFT
111 Lake Forrest Lane NE
Atlanta, GA 30342
Chastain Park Subdivision
2425 Peachtree Road NE Atlanta GA 30305
1 / 15
$3,349,000
Condo For Sale
Pending
3
BEDS
4
TOTAL BATHS
2,985
SQFT
2425 Peachtree Road NE #1805
Atlanta, GA 30305
The Dillon Buckhead Subdivision

 

Atlanta Real Estate Market

Based on the graphs provided by Floyd Brooks Atlanta Real Estate here, it can be deduced that the Atlanta real estate market is fairly balanced, favoring sellers at most price points across the wider metro area. The inventory is still quite limited for most price points and locations. The median sales price peaked in October of last year and has since cooled slightly over the winter months. As the spring selling season approaches and market conditions remain unchanged, prices could very well rise. The number of showings that homes are getting before they go pending indicates that demand for homes is still very strong. Check out our Atlanta page to get additional information about the Atlanta real estate market.

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