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 (based on availability at time of inquiry).  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 for 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 or will complete ICCF’s Introduction to Homeownership class
• 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:

Guidelines are valid through January, 2019.

This program is now accepting new applications.