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Western Arizona Community Alliance (WACA) Individual Development Account (IDA)

Western Arizona Community Alliance (WACA), an affiliate of Western Arizona Council of Governments (WACOG) · Yuma, Arizona

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Repayment

Grant

Not repaid

What is Western Arizona Community Alliance (WACA) Individual Development Account (IDA)?

Western Arizona Community Alliance (WACA) Individual Development Account (IDA) is a grant for homebuyers in Yuma, Arizona, administered by Western Arizona Community Alliance (WACA), an affiliate of Western Arizona Council of Governments (WACOG).

  • WACA's Individual Development Account (IDA) is a matched-savings program that helps low-income Yuma County residents save toward the purchase of a first home (or higher education). For every dollar a participant saves, WACA contributes a $3 match, paid directly to the title company at closing. Participants must save for at least six months, make minimum monthly deposits, follow an action plan, and complete free financial-capability and certified 8-hour pre-purchase homebuyer classes. The program is risk-free with no penalty for early exit.
  • Funding comes from IDA matched-savings program funds (administered by WACA/WACOG).

Do you have to pay it back?

Western Arizona Community Alliance (WACA) Individual Development Account (IDA) is structured as a grant, so it is not repaid.

  • Repayment is triggered by None - matched funds are a grant disbursed to the title company at closing (no repayment).
  • The assistance is recorded in None (grant) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Western Arizona Community Alliance (WACA) Individual Development Account (IDA) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through WACA (free Financial Capability classes and a certified 8-hour pre-purchase homebuyer class)
  • Residency: Must be a Yuma County resident.
  • DRAFT (dpa-gap-finder 2026-06-14): pending review. (assistance_amount: 3:1 match on participant savings) Participant must be at least 16, have earned income, have household net worth under $10,000 (excluding one car and one home), have household income at or below 200% of the Federal Poverty Level, and be a Yuma County resident. Must open a no-fee savings account at a partner institution with a minimum $25 deposit, save for at least 6 months with minimum monthly deposits, follow an action plan, and complete financial and pre-purchase classes. Match is paid directly to the title company.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Western Arizona Community Alliance (WACA) Individual Development Account (IDA) sets its income limit as follows: Household income must be at or below 200% of the Federal Poverty Level; household net worth must be under $10,000 (excluding one car and one home).

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Western Arizona Community Alliance (WACA) Individual Development Account (IDA) can be used for First home (single-family primary residence).

Where does it apply?

Western Arizona Community Alliance (WACA) Individual Development Account (IDA) serves buyers purchasing in Yuma, Arizona.

How do you apply?

Applications for Western Arizona Community Alliance (WACA) Individual Development Account (IDA) go through Western Arizona Community Alliance (WACA), an affiliate of Western Arizona Council of Governments (WACOG), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through WACA (free Financial Capability classes and a certified 8-hour pre-purchase homebuyer class).

  2. Contact Western Arizona Community Alliance (WACA), an affiliate of Western Arizona Council of Governments (WACOG) to reserve funds

    Funds are reserved through Download and complete the IDA Application Packet, then call/email to schedule an enrollment appointment., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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