Newtown CDC — Individual Development Account (IDA) for Homeownership

About This Program

Individual Development Accounts through Newtown CDC allow low-income residents to build savings matched at up to 4:1 for homeownership or home repair goals. Minimum savings period of 10 months required. Income must be at or below 200% of the Federal Poverty Guidelines. Provides financial coaching, credit counseling, and homebuyer education alongside the matched savings account.

Match rate and maximum match vary by funding source and year. Check current availability with Newtown directly.

Key Details

• Matched savings account for first-time homeownership or home repair
• Income ≤ 200% Federal Poverty Guidelines
• Up to 4:1 match on savings deposits
• Minimum 10-month savings period for homeownership goal
• Includes financial coaching and homebuyer education

How to Apply

Deadline: Rolling