Missourian's Building Assets, is a program of Missouri’s Community Action Network, encourages families to establish good savings habits. The program helps qualified working individuals set up savings accounts to achieve home ownership.
Each participant sets up a savings account and makes regular deposits from their earnings. The maximum of $2,000.00 saved is matched 2 to 1. That amount would be matched to a limit of $4,000.00. The Participant would have $6,000. 00 to put towards the purchase of their home.
The participants are at no time required to pay back the matching grant funds following the purchase of the home. All payments are made directly to a vendor.
Along with the matching grant aspect of the program MBA participants must fulfill their financial and homeownership literacy requirements, this requires that they meet with a MBA caseworker for one hour, a minimum of two times per month to help the participant get ready to become a home owner.
Applicants are carefully screened to ensure likelihood of success. Here are a few eligibility criteria:
- Be a first time home buyer
- Have the ability to get a home loan
- Have the ability to save money
- Meet an income and asset guideline
For further information please contact Suzanne Becker at 417-451-2206.
Home Ownership Dream
Sherry, a mother of two, an autistic son in Jr. High and a daughter in High School, found herself in need of assistance after her husband left her. She began working with Suzanne, a Case Manager with Economic Security Corporation. She had always worked in the home as a homemaker. Sherry was very focused on finding employment so she could take care of her family. She amazingly landed employment very quickly with Integrity providing home health care. She decided she really liked doing this kind of work and was really good at it. Integrity liked her work so well that they trained her to be a trainer of their new staff shortly after ninety days of employment. Wanting to further her career in home health care she enrolled in Certified Nurse’s Aide Training while she worked part time at Integrity Home Health. Her CNA training required an intensive on the job training in area nursing homes. There were days where she worked providing for the physical needs of others ten hours per day for her job as well as working on her education requirements. Sherry is now a Certified Nurse’s Aide and has a much better paying job. She says she is not stopping at that and is determined that she wants to increase her education and is exploring the LPN certification and the Pharmacy Tech. requirements. Sherry maintained employment for over one year and was name employee of the month which included a parking spot, plaque and bonus.
She is a great mom and great example to her children. Wanting a home of her own she enrolled in Economic Security Corporation’s Individual Development Account Program for first time homebuyers. The program provides a $2.00 match for every $1.00 Sherry was able to save. She worked hard saving enough money to get the full match of $4,000.00 from the program. Sherry accomplished her dream of becoming a home owner by using the funds she saved and earned through the IDA program to purchase her first home in April 2014.