CHB  VIDA 1 VIDA (Valley Individual Development Accounts)

CHB  VIDA 2 VIDA (Valley Individual Development Accounts)

Valley Individual Development Accounts (VIDA) is a program whose purpose is to prepare and assist families and individuals of modest means to accumulate wealth and grow financially through Individual Development Accounts (IDA). The program offers economic assistance as well as training in homeownership, small business, and/or education or job training.

An Individual Development Account (IDA) is a special savings account designed to match your savings.  You can then choose to invest the savings in:

  • a first time home purchase
  • starting or expanding a small business
  • post-secondary education or job training
  • home repair or rehabilitation of primary dwelling
  • adaptive equipment, technology and specialized training

NOTE:  Community Home Builders only offers Homebuying.

VIDA Program Basics — The basic program structure consists of the following features:

  • Match Rate:                                                  3:1
  • Maximum Savings Match                          $3,000
  • Maximum Match                                         $9,000
  • Maximum Match Per Year                         $1,000
  • Participation Period                                     6-36 months