Additional Documentation and Application Information

Completed and signed application

• For married couples: if applying together and one person is not employed, you may still apply for an IDA as long as one spouse receives consistent income. Please fill out the IDA application in the name of the person who receives income. This applies to married couples only. You must meet the income guidelines for the previous three months.
• If applying single: you must have a consistent source of income and meet the income guidelines for the previous three months
• Please list accurate balances for your checking, savings, 401(k), stocks, bonds and other investments.
• Last year’s income should match the amount listed in your previous year’s tax return.
• If you are on government or public assistance, please list the type of assistance and the monthly amount you receive. If the type of assistance you receive is not on the application (such as WIC, Medicaid, daycare assistance or other), please write it on the second page of the application.
• If you are receiving Social Security, please specify what type of SSI you are receiving and/or whom you are receiving it for (self, child, spouse, parent, etc…)

What we will need from you:

Documents:

• After completion of the financial management course, please have ready your IDA application, copy of current credit report, last year’s tax return, proof of income (pay stubs dated within last three months) and current bank, retirement, stocks, bonds and other investment statements. Not having these items ready will delay in the processing of your application.
• Proof of income includes but is not limited to:
  • copies of paychecks or pay stubs (must be for the last 3 months)
  • written statements from employers
  • accounting records (if self-employed)

Eligible Income Includes:

• Money wages and salaries before any deductions
• New receipts from non-farm or farm self-employed receipts from a person’s own business or from an owned or rented farm after deductions for business or farm expenses.
• Regular payment from Social Security Administration (gross benefits), railroad retirement, unemployment compensation, strike benefits from union funds, worker’s compensation, veteran’s payments, public assistance, training stipends, alimony, child support and military allotments.
• Private pensions, government employee pensions (including military retirement pay).
• Dividends, interest, net rural income, net royalties and periodic receipts estates or trusts.

Important Information

• You must attend eight hours of financial management training before submitting your IDA application.
• You may retrieve a free copy of your credit report from www.annualcreditreport.com.
• Having bad credit or high levels of unpaid debt does not deter you from being accepted into the IDA program. Negative information may be considered, but it is considered on a case-to-case basis. Our Certified Financial Counselors will work with you to help you get started.

Having these documents/items ready will avoid delays in the processing of your application. If you are unsure of any of the items listed above, please contact 877-787-0727 or email at info@uidan.org.