Deo is originally from Bhutan and currently lives in Aurora, Colorado with his wife, two children, brother, mother and father in a home purchased through the CEDS IDA home ownership program.Read Full Story »
|Deo successfully exited the CEDS IDA program when $4,000 in personal savings was combined with the $4,000 in CEDS matching funds, for a total of $8,000 towards a home down payment.|
Financial Impact #2:
|Deo’s $8,000 in down payment savings was combined with $71,000 in down payment assistance from family and friends. This allowed him to purchase a $226,000 home with a $147,000 mortgage.|
|Individual Development Account|
Deo Dhungel with his family of seven, were resettled in Denver, Colorado in June 2010, after spending 18 years in a refugee camp in Nepal waiting and hoping for permanency.
He heard about the Individual Development Account program (IDA) from one of the resettlement agency in Denver when CEDS staff was presenting. Deo came to our office in April 2011, and was enrolled in the IDA program in the same month for a home purchase asset goal. As a result of the impacts discussed above, he was able to purchase and close on his very first home of four bedrooms and four baths in July 2013.
Deo and his family of seven now live in one of the finest Aurora suburbs, where he is looking forward for the rest of his hopes and expectations to be fulfilled. He is happy with his home! As Deo said, “My expectations and hopes were to have a better future, a better life, to own a home and to become a United States citizen. Partially, my expectations and hopes have been fulfilled. I now have a home and I am a US citizen.”