zavvie and Divvy Homes recently partnered to provide a more accessible, affordable and innovative rent-to-own buying solution for real estate brokers and their agents.
Divvy Homes uses technology to help renters transition into homeowners. The Divvy Homes rent-to-own program is currently available across 16 major U.S. metropolitan areas, including Atlanta; Cincinnati; Cleveland; Dallas; Denver; Ft Lauderdale, Florida; Houston; Jacksonville; Memphis; Minneapolis; Miami; Orlando; Phoenix; San Antonio, Texas; St. Louis; and Tampa, Florida.
Now part of zavvie’s recently expanded brokerage marketing place, Divvy Homes can potentially reach tens of thousands of new real estate agents, said the company, turning more renters into homeowners.
“Divvy Homes helps make sure zavvie delivers every option for today and tomorrow’s homebuyers and sellers—and that a trusted real estate agent remains at the center of every transaction,” said Lane Hornung, zavvie co-founder and CEO, in a statement.
Divvy Homes allows renters to work with a real estate agent and choose the home they want to rent-to-own. Then Divvy purchases the qualifying home, and the renters move in with 1% to 2% of the value paid upfront. A portion of their rent goes toward saving for a down payment. Within three years, these future homeowners may have accumulated as much as 10% toward their down payment, allowing them to buy the home from Divvy.
“The path to homeownership is more challenging today than ever before,” said Divvy Homes co-founder and CEO Adena Hefets, in a statement. “Divvy is leveling the playing field by accelerating one’s ability to become a homeowner. We’re a new kind of real estate company that is helping people build wealth while living in a home they will soon own.”
Divvy Homes application is online, free and won’t impact credit scores. Once a customer’s income and savings are verified, a Divvy Homes-approved home budget is provided within two business days. Most Divvy Homes customers become mortgage-eligible in fewer than three years, according to the company. At any point, a Divvy Homes customer can either buy back the home with the money saved or move out and take any savings with them.
“Housing affordability and accessibility offers exciting new opportunities for brokerages and their agents,” added Hornung, “Agents who embrace these new buying options can do well by doing good.”
For more information, please visit www.zavvie.com.
