This program focuses on helping you build assets that will continue to grow in value to achieve homeownership. Once enrolled, you will receive economic literacy training, first-time homebuyer’s training, and support every step of the way. We will assign you a Success Coach to help you navigate a comprehensive program of financial education and create a personalized schedule of matched savings toward a down payment on a home.
New Century Individual Development Account (IDA) has achieved the highest per capita success rate in the nation, placing over 525 homeowners in the community and representing over $40 million in taxable property assets. The IDA Program helps low-income families gain a stake in their community and in so doing help eliminate generational poverty.
You must be a resident of Winston-Salem/Forsyth County and must meet specific income guidelines. The IDA program is structured so that low-income households can buy a home, and be successful in paying for and owning their own property.
Don’t let credit and debt issues discourage you from applying to participate in this program. Overcoming credit and debt issues is part of this process. We have other programs available to aide in clearing any credit issues that cannot be cleared in the two years of program participation.
The program’s goal is to get residents in their own homes, and also to help them be able to stay there.
We will screen your application for eligibility, and inform you of the results. If you are denied, we will give counsel as to the reason for the denial, and ways to improving your eligibility for the program, and encourage you to reapply if there is the possibility that they will qualify at a later time.
To participate in the IDA Program, you must:
Please call (336) 722-9400 ext. 163