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:

Family Income Level Family Income Level Family Income Level
Size 250% Size 250% Size 250%
1 $31,225.00 4 $64,375.00 7 $97,525.00
2 $42,275.00 5 $75,425.00 8 $108,575.00
3 $53,325.00 6 $86,475.00 Each Additional $11,050.00

Guidelines are valid through January, 2019.

This program is now accepting new applications.

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

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