Divvy is a rent-to-buy firm. Available in markets with appreciating home values, potential borrowers select a home on the market and Divvy will then buy it, and lease it back to them, while allowing them to build equity credits with every payment. Divvy raised over $7million to pursue its goal of offering an additional option between renting and owning.
Founded by self-proclaimed “real estate enthusiasts and technologists,” Divvy is still a young company, operating for now just in Seattle, Atlanta and Cleveland. Customers who are unable to qualify for a mortgage today are offered a three-year program to move from lease to buy.