Kibinda is originally from Congo and currently lives in Thornton, Colorado with his wife and five children, in a home purchased through the CEDS IDA home ownership program.Read Full Story »
|Kibinda 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:
|Kibinda’s $8,000 in down payment savings was combined with $24,000 in down payment assistance from Community Resources & Housing Corporation. This allowed him to purchase a $155,000 home with a $123,000 mortgage.|
|Individual Development Account|
Kibinda Antwani, and his wife and five children, were resettled as refugees in Colorado in May 2010 from a refugee camp in Tanzania. Like many refugees in Colorado, Kibinda was resettled in the city of Aurora. He lived in a small two bedroom apartment with his family of seven. He learned about the CEDS Individual Development Account (IDA) program through the community outreach of the CEDS IDA manager who was making presentations at the apartment complexes where many refugee families reside. In March 2012, he enrolled in the IDA program with a home purchase asset goal. This program provides assistance for down payments, closing costs, and credit establishment and repair for home purchase participants. He attended various financial literacy training courses and also the first time homebuyer training, which are required for all IDA clients with a home purchase asset goal. As a result of the financial impacts discussed above, he found a house and was able to close in June 2013. Kibinda’s desire was to have a house that is large enough to accommodate his big family. His desire was fulfilled when he closed on his house of four bedroom and two bathrooms in the Metro Denver area. Kibinda’s family is grateful to CEDS for all the support it provided that made it possible for him and his family to be able to own their first home in America.