What does your credit score have to be to qualify for divvy?
What does your credit score have to be to qualify for divvy?
550
How do you qualify for divvy?
- Credit score of at least 550.
- Minimum income of $40K.
- Have at least $1,300 saved up and ready to go for a down payment.
- Applicants must be currently employed.
- Applicants must have been employed for the past 12 months (multiple jobs are fine)
- Average monthly income of at least $2,300/month.
How long does divvy credit take to approve?
We'll review your application and usually get back to you within 24-48 hours to let you know if you're approved to go home shopping.
Does divvy do a background check?
Criminal Background Check- To qualify for Divvy Homes an applicant must pass a criminal background check. ... Court Records- In addition to no evictions in the previous year, Divvy Homes looks at the number of recent attempted evictions as part of its application review.
How do I get approved for divvy?
Here are the things you'll need to qualify for Divvy. A FICO score of at least 550*: All applicants need to pass a soft credit check—this won't affect your credit score. We'll look at your FICO score, recent loan delinquencies, and any foreclosures or bankruptcies**.
How long does it take divvy to approve?
We'll review your application and usually get back to you within 24-48 hours to let you know if you're approved to go home shopping. We'll get in touch if we need any additional documents. After approval, you'll receive an email including your Divvy approved monthly budget and estimated home budget range.
Is divvy a good option?
Divvy is a great way to get into the house that you want to buy immediately and then buy it when you are ready. It's a modern day rent to own. Divvy Homes bought the home I picked out, leased it to me, helped with save up a down payment, and provided credit counseling.
Does divvy do a hard inquiry?
A: Once the application is complete with the authorized signature, Divvy will perform a soft inquiry of the business AND the authorized signer's credit to determine the best credit limit for your business. We do not do a hard inquiry.