FAIM Program InformationMonthly FAIM Network Meeting The FAIM Network Meeting will be held monthly and will consist of program updates and a training topic. Meetings will be held via Teams or Zoom unless otherwise noted. The link to join will be sent to the FAIM group prior to meetings. Staff from each local FAIM agency are expected to attend these meetings. Grant 2086 – enrollment openEnrollment opened on February 20, 2024, and will close on September 30, 2024 – may be sooner if the program reaches capacity. Enrollment forms were updated and are available in the Program Forms tab – always use the current forms posted on this site. Complete the pre-screen tool and affordability calculator with potential clients to determine potential eligibility AND program readiness before completing an application and collecting documentation.Grant 2086 Timelines: Minimum enrollment period is 6-months + 1-day from first deposit date before a payout may be requested. Saving/match period is 24 months from first deposit date – late deposits can’t be matched, no exceptions. Maximum enrollment to obtain their asset and exit the program is 30 months from first deposit date. When screening clients for Home Purchase – keep in mind they must have continuous employment with sustained earned income and a credit score of 650+ to qualify for a mortgage within 24 months of being enrolled in FAIM. If this is not feasible, they should not be enrolled for Home Purchase. Grant 2005 – at capacity Timelines: Minimum enrollment period is 6-months + 1-day from first deposit date before a payout may be requested. Saving/match period is 24 months from first deposit date – late deposits can’t be matched, no exceptions. Maximum enrollment to obtain their asset and exit the program is 30 months from first deposit date. Grant 2085 – at capacity Timelines: Minimum enrollment period is 1 year + 1-day from first deposit date before a payout may be requested. Saving/match period is 24 months from first deposit date – late deposits can’t be matched, no exceptions. Maximum enrollment to obtain their asset and exit the program is 30 months from first deposit date.
Paige Carlson, WCMCA Aging Well & Asset Development Director [email protected] David Snyder, FAIM Director [email protected] Grant Administrator – West Central MN Communities Action, Inc. (WCMCA) 411 Industrial Park Blvd, Elbow Lake, MN 56531 (218) 685-4486 or 800-492-48051910 Aga Drive, Suite 206, Alexandria, MN 56308 (320) 304-3458 Office Hours: Holiday Closures: New Year’s Day, Martin Luther King Jr. Day, President’s Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Veteran’s Day, Thanksgiving Day & day after, Christmas Eve & Christmas Day. If the holiday falls on Saturday, the agency will be closed Friday. If the holiday falls on Sunday, the agency will be closed Monday. |
