Amanda spent her first meeting at ICCF in tears.
“I didn’t think we were going to be able to do it,” she said. “There were too many hurdles: no money for a down payment, bad credit, a tight deadline… I didn’t know where to start.”
But ICCF had the resources needed to help Amanda and her husband (and their four children) overcome these barriers – and to move into their first home.
“I was completely overwhelmed during our first meeting with Elzie (Housing Manager at ICCF),” shared Amanda. “But he laid out the path we needed to walk to secure a mortgage – and then helped us take the appropriate first steps to get there.”
This included taking advantage of ICCF’s Individual Development Account (IDA) program. An IDA is a matched savings account that empowers families to save towards the purchase of a home. Once a participant has saved $1,000 in their IDA, their savings is matched at a 3 to 1 rate, giving them $4,000 total towards the purchase of a new home.
“The next several months were spent cleaning up our credit, paying off our debts, and completing a lot of paperwork,” noted Amanda. “We used our entire tax return to get us where we needed to be – and by June 1 we were in our new home.”
“Elzie didn’t sugar coat it for us. He recognized our challenges, the things we needed to work on – and then he helped us move forward. He was very encouraging. Really pleasant to work with. And I think that’s why we were able to complete this process so quickly. He really motivated us. ”
“This is what I know… without ICCF’s IDA program, we wouldn’t be in our house.”