IDA Programs in Atlanta

If you qualify for an Individual Development Account (IDA) program, then you’ll be able to get four times the money you save to buy a house. With the IDA program, your money is matched $4 for every $1 you save, so if you save $500, the IDA program will give you $2,000 (which means you’ll have $2,500 in savings).

How do the IDA programs in Atlanta work?
You can only use the money you’ve saved through an IDA for buying a house. To take part in an IDA program, you need to make less than a certain amount of money and go to classes or workshops organized by the program. The United Way of Atlanta runs the IDA program in Atlanta. Click here to learn more about the program.

Is there an IDA program in my neighborhood?
The United Way has set up IDAs in 12 communities:

• Reynoldstown
• Peoplestown
• King Historic District
• Cobb County
• Gwinnett County
• Tyler Place
• Summerhill/Mechanicsville
• Capital View/Sylvan Hills
• Clarkston (DeKalb County)
• East Atlanta (Dekalb County)
• McDonough (Henry County)
• Locust Grove (Henry County)

What do I need to apply?
Your household income has to be 50 to 80 percent of area median income, (you can call the United Way at (404) 527-7308 to find out if your income will qualify). You have to show that you have the capacity, desire and commitment to achieve your goal of owning your own home within two years of opening your IDA. You also have to show that you can save at least $50 per month toward your goal.

How can I sign up for an IDA program?

There aren’t very many openings for IDA programs so, even if you qualify, you might not be able to get in one right away. But, it’s definitely worth trying because they can help you save a lot of money. To find out how you can sign up, contact the United Way at (404) 527-7308.