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Macomb Community Action
21885 Dunham Road, Suite 10, Clinton Township, MI 48036
(586) 469-6999

Individual Development Account (IDA) Program

Macomb Community Action’s (MCA) Individual Development Account (IDA) Program provides families an opportunity to build resources with the goal of purchasing their first home in Macomb County.

Families enrolled in the program make monthly contributions to a savings account and Macomb Community Action matches these contributions. The combined savings account is used for the down payment and closing costs on the purchase of their first home in Macomb County.

  • Home buyers who enroll in the IDA Program are afforded the opportunity to have hands-on, personal assistance with the often confusing home buying process.
  • Persons in this program are able to become a more informed and prepared home buyer.
  • Persons enrolled in this program also receive added support, assistance and ongoing encouragement even after they have made their purchase.
  • Persons enrolled in the program have the opportunity to have their savings matched allowing them to save for their home more quickly.

Eligibility

Eligibility requirements include:

  • Must be a current Macomb County resident.
  • Must meet income eligibility guidelines.
  • Must be a working adult, employed a minimum of 30 hours, consistently for 90 days.
  • Must complete an application and pre-program orientation with the IDA Case Manager
  • Must have reasonable consumer credit or readily repairable credit.
  • Final selection is determined by the Review Committee

Participation requirements

Program participants must successfully:

  • Open a special savings account at a designated bank and deposit a minimum of $20 per month.
  • Attend budgeting seminar and authorize a credit report.
  • Attend specific home owners training seminars as authorized by MCA.
  • Maintain monthly contact with the IDA Case Manager
  • Maintain “Participant in Good ­Standing” status by making regular monthly deposits and continuing to meet program activity requirements.

Your Savings

Program participants will make monthly deposits to a savings account and Macomb Community Action will be the custodian of the matched funds account.

Each month, participants will receive information on the savings account. The IDA Case Manager is also an authorized signer on the savings account.

Participants save $1,000 and Macomb Community Action will provide match funds of $3,000.

Program Completion

Upon completion of this program, successful participants will:

  • Be an informed home buyer.
  • Obtain vital information on home ownership.
  • Have an understanding of personal credit concerns.
  • Have the funds to purchase their first home.
  • Have had a positive home buying experience.
  • Continue to have access to the Macomb Community Action IDA Case Manager for assistance and referrals.

Macomb Community Action
Individual Development Account (IDA) Program

196 N. Rose Street
Mount Clemens, MI 48043
Phone: (586) 469-7378
Fax: (586) 469-7436
TDD: 586-469-5962 

Email: mca@macombgov.org
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