Questions for planning your IDA

1
Questions for planning your IDA

• What do you expect to be the cost of the typical
  affordable home in your neighborhood? (not
  median, bottom quartile of market)
• How much downpayment and closing costs do you
  expect the homebuyer to need?
• What other subsidies might you bring to the
  table? (Soft seconds, FSS-Section 8 homeownership
  funds, etc.)
• Define your gap.

2
Questions for planning your IDA

• How much will your typical depositor be saving
  each month?
• How long a period do you expect a typical IDA
  participant to be saving (6 mos., 1 yr., 2 yrs.)?
• How much (in ) will you match each participant
  to help the depositor achieve the downpayment?
• What is the rate of match to total savings?
• How much non-federal contribution do you plan to
  raise?

3
Questions for planning your IDA

• How much money will you be raising for
  administration of the program?
• What is your total projected number of accounts?