Ceiba partners with the United Way of Greater Philadelphia and Southern New Jersey to provide Individual Development Accounts (IDAs) – structured savings programs for first-time homebuyers that provide matching funds for participants who meet their savings goal and complete financial education.
HOW IT WORKS
Program participants save up to $2000 in a minimum of 6 months and complete 6 hours of financial literacy and 5 hours of housing counseling. Participants receive $2 in matching funds for every $1 they save. At the end of the program, checks will be made out directly to title company and are delivered on the day of closing.
At the moment, the IDA program has filled up for the 2017-2018 season. We hope to receive more slots soon.