GMHA is actively enrolling GMHA-assisted IDAS Homeowners families as well as income eligible Greene County residents into its Individual Development Account (IDA) Program.
The Individual Development Account (IDA) Program is operated by Greene Metropolitan Housing Authority's non-profit agency, Sensible Shelter, Inc. The IDA Program assists low-moderate income families and individuals in Greene County to purchase a first home, continue education, or start a small business. This is done through a savings match.
Participants of the IDA Program save a monthly minimum of $25 into an IDA, and is matched at a rate of 2:1 up to 4:1 by Sensible Shelter, Inc, depending on the funding source. This means that if a participant saves $25 they will be matched with $50 for a total of $75. Participants can be in this program for a minimum of 6 months up to a maximum of 5 years (3 of which they will be matched). If a participant saves $25 a month, at the end of the 5 years they will have saved $3,300, including match. If participant saves $100 a month, at the end of 20 months, they would have reached their maximum match for a total of $6,000, including match. While saving, participants attend financial education classes
Individuals and Families living in Greene County who have an earned income at or below 200% federal poverty level may be eligible.
The IDA Program not only provides the participants an excellent opportunity to build a savings, but also empowers them to achieve goals for their families, such as owning their own home. In addition, the IDA Program includes education on money management, credit repair, home buying and much more! Upon completion of the program, participants will be well educated, will have a lofty savings and will be well on the road to independence!
Please contact the Individual Development Account (IDA) Program Manager, Jessica Dorn at Greene Metropolitan Housing Authority to get started on the path to SAVINGS & INDEPENDENCE. More information on the application process, program requirements and any other questions may be obtained by contacting the Program Manager at (937) 376-2908 ext 1022.