How it Works
Digs Contributions

We get a lot of questions about our contribution matching so we decided to create a page all about our unique program!

An introduction

First, it’s important to know that the funds we contribute are reserved for a home purchase. So if you are saving for a vacation or new gadget, we are not the place to do so. You can think of our funds as “homebuyer credits.” They can be redeemed through our network of lenders who will honor the additional funds when you buy a home.

Are there limits?

As for how much you can earn, we have monthly maximums. We have a tiered contribution matching system that allows you to save more upfront, even if you can only put a little money away each month. Here is the monthly contribution matching scale:

Tier 1: First $50/month = $1:5 matching
Tier 2: Next $100/month =$1:10 matching
Tier 3: Next $200/month =$1:20 matching
Tier 4: Next $1,000/month =$1:100 matching

For example: If you put $50/month away, we will contribute $10/month in homebuyer credits. If you put $150/month away, we will contribute $20/month in homebuyer credits (1:5 for first $50 and 1:10 for next 100.) Using this tiered scale, the most you can earn per month is $40 if you contribute $1,350.

Every month, your contribution matching scale resets so you can start earning on the 1st tier again. (So make sure you set up recurring deposits to take full advantage of this!)

Do contributions ever expire?

Yes. Our homebuyer credits expire after 5 years. (Keep in mind, the money that you put in your account will never expire. It is FDIC insured up to $250,000 and can be withdrawn at any time.)

Can I withdraw at any time?

Yes. If you decide to withdraw the money that you put into your Digs account, you can do so at any time. Understand though, that this will result in you losing your homebuyer credits at a scale of 1:5. In other words, if you withdraw $500 from your account, you will lose $100 in homebuyer credits.

If you have any other questions regarding contribution matching or any other topic, please refer to our help center.