Blackfoot family enjoys their first home with the help of the FSS and IDA programs
BLACKFOOT, ID – March 11, 2010 – (RealEstateRama) — Owning a home is something her family has dreamed of for some time, and now it’s a reality. With a little help from two programs, Scott and Julie Campfield and their three children now have a home of their own in Blackfoot. “It’s the first time I’ve ever owned a home – it’s amazing,” said Julie. Scott and Julie purchased their home in November after working with Idaho Housing and Finance Association’s (IHFA’s) Family Self-Sufficiency (FSS) and Individual Development Account (IDA) programs.
FSS is a voluntary program open to Section 8 Housing Choice Voucher recipients that helps Idaho households achieve financial independence within five years. Julie signed up for the FSS program in 2007. Her ultimate goal was to purchase her own home. She already was planning to further her career by obtaining a nursing degree, so when she signed up for FSS she already had several goals in mind: finishing school, obtaining employment as a nurse, paying off some existing debt, and then buying a home for her family. “The biggest challenge was stretching the budget and trying to go to school with three kids at home, which was not an easy task,” Julie said. While working to reach her goal, she met regularly with Shelley Conrad, Family Self-Sufficiency specialist at IHFA’s Idaho Falls branch office. “The Campfield’s were determined to do whatever it might take to become homeowners. Julie completed her education goal and received her nursing degree, and they worked very hard to live on a tight budget so they could pay off their existing debt and save the necessary funds to qualify for the IDA Program,” Conrad said. “It was very exciting for me to see them purchase their first home.”
Julie also participated in the IDA program, which helps families build their assets and enter the financial mainstream. IDA is a joint venture between the Home Partnership Foundation, the state’s only 501(c)3 nonprofit housing foundation brought to you by Idaho Housing and Finance Association, and United Way of Treasure Valley. The program matches an individual’s savings up to a maximum of $2,000 at a rate of two-to-one. At the completion of this program, these savings can be used to pursue education, start or enhance a small business, or in Julie’s case, to purchase a home. “Without the guidance that we got from FSS and the extra boost in our financial situation from IDA, I really don’t think the goal of homeownership would have been met as quickly as it was,” Julie said. She saved $2,000 and received matching funds from United Way and Partners for Prosperity. She said the budgeting skills she learned through the FSS program enabled her to put aside necessary funds to purchase her home and discontinue her participation in the Housing Choice Voucher program. “I don’t think we would have been able to achieve our goal so quickly without Shelley and a lot of other people at Idaho Housing,” Julie said.
Now that the family has had some time to get settled into their new home, they are busy enjoying every minute of homeownership. “My children love the idea of having their own yard and have a lot of fun playing outside,” Julie said. And the home provided one more benefit for the children – they were able to have pets. They now own two Chihuahuas and a Boxer, one for each of the children.
The FSS program does not affect a household’s housing subsidy. Anyone currently participating in IHFA’s Section 8 Housing Choice Voucher program who would like to achieve economic independence and reach employment goals may enroll. Currently, the IDA program administered through IHFA’s branch offices is not accepting new applicants.
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Idaho Housing and Finance Association, a financial services and housing business organization, provides funding for affordable housing in communities where it is most needed and when economically feasible.
Contact:
Lisa Davis lisad (at) ihfa (dot) org
IHFA Public & Media Relations Officer
208-331-4858
Steve Rector stever (at) ihfa (dot) org
Public Affairs Director
208-331-4725
