IDAs

Individual Development Accounts (IDAs) are a resource for qualifying Oregonians to leverage the power of their own savings in support of their financial goals. Habitat for Humanity of Oregon partners with local Habitat offices to offer access to Home Purchase IDAs and Home Repair IDAs.

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Set a goal, watch your savings grow

IDA participants increase the power of their own savings by earning a $5 match for every $1 they save, up to an established savings goal. While in the program, IDA savers take financial education classes and learn more about purchasing and maintaining a home.

IDA savers resources

How does the IDA Program work?

Habitat for Humanity of Oregon partners with local Habitat offices to connect Oregonians to this asset-building tool. Together, our network of service providers works in collaboration with the Oregon IDA Initiative to offer Home Purchase IDAs and Home Repair IDAs.

IDA participants work with a staff member to create a savings plan that fits their financial situation, open a savings account and begin saving towards their goal. The IDA provider sets aside a matching amount for the saver, usually $5 for every $1 deposited in the saver’s account, up to the established goal. IDA savers are also expected to complete the financial education requirement and take classes to learn more about purchasing and maintaining their homes.

The match funds reserved for the IDA saver become available as the saver completes their financial goal and educational requirements.

Am I eligible?

You are eligible for an IDA if you fit the following criteria:

  • You are an Oregon resident.
  • Your household income is at or below the IDA Income Limits, which are 80% of the Area Median Income (AMI).
  • Your household net worth is below $20,000. Net worth is the value of what a person owns minus what they have in debt. The value and debt of one owned home, one owned car and up to $120,000 in retirement savings may be excluded from the eligibility calculation.
  • You can commit to making regular deposits toward your goal (for a minimum of 3 months).
  • You are willing to work with an IDA provider to complete additional requirements, including financial education and asset-specific training.

To test your program eligibility, use the IDA Eligibility Tool.

How do I start my enrollment?

To begin your journey, contact an IDA provider in your area. If your local Habitat for Humanity office isn’t listed below, please use the IDA search tool to find a different provider serving your community.

IDA providers in the Habitat Oregon network include:

  • Bend-Redmond Habitat: Email staff or call 541-385-5387
  • Columbia County Habitat: Email staff or call 971-203-0020
  • Habitat Lincoln County: Email staff or call 458-277-7601
  • Habitat Portland Region: Email staff or call 503-287-9529
  • Rogue Valley Habitat: Email staff or call 541-779-1983
  • Tillamook County Habitat: Email staff or call 503-377-0204
  • Umpqua Valley Habitat: Email staff or call 541-672-6182

Please note that yearly funding for IDAs is limited.

About the Oregon IDA Initiative

The Oregon IDA Initiative is administered by Neighborhood Partnerships and is supported by funding from the Oregon IDA Tax Credit. The IDA Program is designed to encourage strong saving habits, help individuals attain asset ownership and build generational wealth.

For additional information about the Habitat Oregon IDA Program, please contact IDA Network Program Manager Gina Valencia.