Homeownership Program

Who Are We?

Asset Builders of Southwest Louisiana supports people wanting to become financially fit and to learn how to save to purchase a home. Services offered include a matched savings IDA account, monthly financial education classes, and one-on-one financial counseling services. These services help to improve the economic status of low income individuals and families.

With the Asset Builders of SWLA Homeownership Program, every dollar YOU save is matched with $4! You can save up to $1,000 in your IDA account and receive up to $4,000 in match money, giving you a total of $5,000 to invest in homeownership!

What is an IDA Account?

IDAs are special savings accounts that create a long term habit of saving for the purchase of an asset. IDAs provide an incentive to save by matching each dollar saved with a dollar (or more) to help your savings grow quickly.

Requirements

Income

Must have an EARNED INCOME of at least $20,000

Have an Adjusted Gross Income not in excess of 200% of the Federal Poverty Guideline Level OR eligible for the Earned Income Tax Credit

Assets

Must have a net worth of less than $10,000 in assets (Excluding One Vehicle)

Financial Literacy Classes

Must attend monthly one-hour class sessions presented by Asset Builders Community Resource Partners

Homebuyer Counseling

Must work closely with your desired Homebuyer Counseling Agency. Project Build a Future and the Calcasieu Parish Police Jury Housing Agency provide information on money management skills and the process of buying a home.