SAVE AND SUCCEED!
 The Matched Saving Account IDA Program helps you open the door to homeownership.
The IDA program is a 4:1 match savings account. You, as a participant, save up to $1,000 and receive a match of $4,000. This gives you a total of $5,000 for down payment and closing cost assistance towards the purchase of your first home.
How does an IDA work?
The purpose of the program is two-fold: To help you establish savings and budgeting habits in preparation for homeownership, and to establish a relationship with a lending institution.
The process to homeownership through an IDA:
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Enroll in the IDA Program through NeighborWorks® Montana (NWMT).
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Open a savings account with at least $25 specifically for saving for the IDA program at a financial institution
approved by NWMT.
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Take financial education either online or in-person at locations around the state.
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Take homebuyer education through an approved provider. Find one closest to your here.
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Make monthly deposits to your IDA savings account.
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After a minimum of 6 months of saving, begin planning your home purchase.
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Qualify for and receive a Montana Board of Housing first mortgage or work out an alternative plan of financing with NWMT staff.
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Your savings will be matched and that money will be provided at the closing of your home puchase.
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Don’t miss a great opportunity!
Please call to see if you qualify.
1-866-587-2244 |
 Matching funds for this project are provided by
the Montana Board of Housing through
their payment
of lender origination fees.
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Requirements for the IDA program
To participate in the program, you must: |
To qualify for the IDA program, household income must be a certain level. You need to have an income less than or equal to the maximum income for your family size, listed below. |
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Be a first time homebuyer.
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Have some regular source of earned income.
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Make consistent monthly deposits into the savings account.
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Save for at least 6 months in the IDA program.
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Participate in Homebuyer Education and Financial Fitness classes.
Complete On-line profile form for www.MontanaSavesTogether.org and provide your savings progress update summary as requested.
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Income Guidelines
Family Size |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
| Maximum Income |
$22,980 |
$31,020 |
$39,060 |
$47,100 |
$55,140 |
$63,180 |
$71,220 |
$79,260 |
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This program, through cooperation with our partners around the state, is available for the entire state of Montana. Through a partnership with Opportunity Link, an additional match is available in the following counties: Blaine, Cascade, • Choteau, Glacier, Hill, Judith Basin, Liberty, Pondera, Phillips, Toole & Teton.
At the closing of your home, Opportunity Link will provide an additional $1,000 to participants
buying homes in the above counties. |
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