Individual Development Account (IDA)

An Individual Development Account (IDA) is a matched savings account that enables families to save towards the purchase of a home. ICCF offers these accounts to qualified individuals.  Once a participant has saved $1,000 in their IDA, their savings is matched at a three-to-one rate, giving them $4,000 total towards the purchase of a home.

The ICCF IDA Program is open to individuals or families who meet the following criteria:

  • Resident of Kent County
  • Potential participants must show proof of earned income that falls at or below 200% of the federal poverty level (see income limits below)
  • Be able to save a minimum of $20 per month from earned income
  • Has completed ICCF’s Introduction to Home Ownership OR Financial Capabilities class series
  • Are able to save in the IDA program for at least 6 months


Income guidelines: Household size income for the previous 12 months cannot exceed:

Family Size Annual income
1 $24,120 or less
2 $32,480 or less
3 $40,840 or less
4 $49,200 or less
5 $57,560 or less
6 $65,920 or less
7 $74,280 or less
8 $82,640 or less
Additional amount per person after 8 + $8,360

Families larger than eight receive an additional $8,360 per person. Guidelines are valid through January, 2018.  

ICCF IDAs are provided with a grant from Heart of West Michigan United Way.

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