What is an IDA
An IDA (Individual Development Account) is a Matched Savings Account to purchase a specific asset, and in this case to use to BUY A HOME.You are matched $3 for every $1 you save up to $1,000.When you save $1,000 that savings is matched with an additional $3,000 (for a total of $4,000) to use for down payment or closing costs on the purchase of a home. |
Income EligibilityYou must be at or below 200% of the Federal Poverty Guidelines.
Family Size |
Income Level |
1 |
$20,420 |
2 |
$27,380 |
3 |
$34,340 |
4 |
$41,300 |
5 |
$48,260 |
6 |
$55,220 |
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Financial Management Education
- Goal Setting & Making Plans
- Household Budgeting
- The Importance of Credit Standing
- Savings & Interest
- Working with Financial Institutions
- Succeeding in Asset Purchase
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