Desert Mission Neighborhood Renewal helps individuals and families realize their dreams of homeownership by providing information on available home purchase assistance programs.
One of these programs is the Individual Development Account program (IDA). IDAs are special savings accounts in which money saved is "matched" with additional money to increase the amount available for down payment and closing costs.
Participants can earn a 3-to-1 match on the money they save toward the purchase of a home. For example: Save $5,000 and we can match your savings $3 for every $1 you save — up to a maximum of $15,000 (subject to availability).
Who Can Participate
Individuals or families who are eligible to participate in the IDA program must:
- Have or save at least $1,000 toward a home purchase.
- Purchase their main home within the city of Phoenix (northern boundary is the Maricopa County line).
- Have not owned a home for the prior three years.
The following program income guidelines apply:
|
Family Size
|
Maximum Income
|
|
1
|
$37,350
|
|
2
|
$42,650
|
|
3
|
$48,000
|
|
4
|
$53,300
|
|
5
|
$57,600
|
|
6
|
$61,850
|
|
7
|
$66,100
|
Click here for other agencies that may have down payment assistance available. (PDF; requires Adobe Reader)
Visit the City of Phoenix Home Purchase Assistance Program
For more information, contact Tracy Crouch at 602-331-5833 or tracy.crouch@jcl.com.
