Through the Individual Development Account Program, Housing Opportunities works with low and moderate income clients to help them save for

• a down payment on a home purchase
• rehabbing expenses for a current home
• education or job training expenses
• small business start-up expenses

If you qualify, our team will help you establish a progressive savings account, to which the state will make matching deposits, up to a total annual accumulation of $1200 for each individual (maximum length of participation is four years). These funds can be applied to purchasing a home or business, education or training for the individual or dependent.

To qualify, applicants must

• Be residents of Indiana, however we server Porter, Lake and LaPorte counties
• Have earned income
• Have household income less than 175% of the federal poverty guidelines, or receive Temporary Assistance for Needy Families (TANF)
• Be able to save $35/month or $400/year;
• Attend 8 hours of Financial Literacy Training
• Attend training and/or counseling sessions specific to their asset goal
• Open a special savings account at a Housing Opportunities-designated bank
• Make regular weekly, monthly or quarterly deposits

Download an IDA Eligibility Evaluation, Contact or Email Us us for more information.