IDA Individual Development Accounts

You can own your own home with an Individual Development Account!

If you are willing to save a small amount regularly and learn how to use your money wisely, you may be eligible for a New Century Individual Development Account (IDA) That will match your savings two-to-one! If you save $1,000 over a period of eight to twenty-four months, we can match it with an additional $2,000 to be used for the down payment on our home!

IDAs combine classes on how to manage your family finances with a program of matched savings. Attend monthly money management classes over a nine-month period and save a minimum of $50.00 per month. For every dollar you save, you get two dollars toward the down payment on your Own home.

You must be at least 18 years old and meet the following income guidelines:

Household Size

Maximum Income

1

$19,600

2

$26,400

3

$33,200

4

$40,000

5

$46,800

6

$53,600

7

$60,400

8

$67,200

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The Center for HomeOwnership
500 West Fourth Street, Suite 200 - Winston-Salem, NC 27101
(336) 773-0286