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 to improve the economic status of low income individuals and families.

With the Asset Builder's of SWLA Homeownership Program, every dollar YOU save is matched with $4! You could 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 are IDA Accounts?

IDAs are special savings account programs that create an incentive to develop 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 Guidelines

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 Builder's Community Resource Partners.

Homebuyer Counseling

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