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Program overview
The United Way Individual Development Account (IDA) for Homeownership program is a matched savings account
program designed to provide financial education, promote citizen involvement and foster asset accumulation
for low-to-moderate-income households seeking to purchase their first home. Once enrolled in the program,
United Way IDA for Homeownership participants save money over a defined period of time—6–24 months
(depending on the program)—while simultaneously attending financial literacy classes where they learn
saving strategies, address credit or debt issues, and discuss what it means to be a responsible homeowner.
The United Way IDA for Homeownership program was developed in 1997 in partnership with various community-based
organizations, financial institutions and educational organizations. Revitalization efforts in specific
communities are bolstered by the asset-building strategy of the United Way IDA for Homeownership program.
The program not only provides the economic literacy education and financial incentive that are prerequisites
for purchasing a home, but also encourages participants to increase personal ownership of their community.
The United Way IDA for Homeownership program provides individuals and families with the education, support
and encouragement needed to make homeownership a reality.
United Way administers two separate IDA programs. After reaching the IDA savings goal for the particular
program for which the participant qualifies, IDA participants are eligible for a match of 4:1 or 5:1 (depending
on the program) up to a certain amount, including a $1,500 emergency reserve fund to be applied toward the
principal on the mortgage if not used within two years of ownership.
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For program enrollment:
Click here: IDA Orientation
Metro IDA
program details (pdf)
To qualify, applicants 1) cannot have owned property within the last three years, 2) must demonstrate the
ability and desire to purchase by December 2008, 3) must have a combined household annual income that lies
between 50 percent and 80 percent of the area mean family income and 4) must purchase property within a
five-mile radius of downtown Atlanta's 30303 zip code. Approved IDA participants are required to complete
a six-week financial literacy course and attend two subsequent community engagement workshops.
Match 4:1 (participant saves $,1200; we match with $4,800)
Blank IDA
program details (pdf)
To qualify, applicants must 1) be a family with at least one child 5 years of age or younger, 2) cannot
have owned property within the last three years, 3) currently live within DeKalb or Fulton county, but
may purchase anywhere within the 13 county metro area, and 4) have a combined household annual income that
lies between 100% and 200% of poverty (as determined by the U.S. Department of Health and Human Services).
Approved IDA participants are required to complete a six-week financial literacy course and attend two
subsequent monthly community engagement workshops.
Match 5:1 (participant saves $1,000, we match with $5,000)
Contact:
Kagbare Rowland, IDA program manager
404.527.3549
Gina Sims, IDA program coordinator
404.527.7296
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