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A national grant program gives military members up to $5,000 to buy their first home.

March 14, 2014

Veteran Military PCS

The Pentagon Federal Credit Union Foundation (PenFed Foundation) established in 2001 to financially support our military personnel created the “Dream Makers” Grant. This grant is aimed specifically at those military personnel purchasing their first home. The grant can reach upwards of $5,000 and be applied to a mortgage as well as down payments or closing costs.

Active or veteran members of the military are eligible to apply for the Dream Makers Grant. This includes members of the Reserves, Coast Guard as well as employees of the Department of Defense and Homeland Security.

The grant has a 100% acceptance rate as long as the service member or veteran meets the criteria. The criteria requests proof of service as well as a gross income of $55,000 or less for anyone applying for the grant,  be a first-time home buyer, or have not owned a home for the last three years or have lost their home through divorce or disaster.

Once qualified for the grant, the PenFed Foundation will pitch in three dollars for every one dollar the service person or veteran contributes. In other words, if the applicant can supply $500, the PenFed Foundation will contribute $1,500. They will match this contribution until they hit their limit of $5,000.

Those members who receive the grant will also be asked to attend a class for first-time home buyers. This class will round out the knowledge necessary to tackle the finances of owning their first home. With both the financial aid of the grant as well as the information imparted through the class, service members as well veterans will have a strong foundation to purchase their first home.

Service members can apply for a Dream Makers grant online at penfedfoundation.org/dreammakers. Grantees do not need to be a Pentagon Federal Credit Union member, and the grant can be applied to a mortgage from any financial institution.

Michael D. Bellamy, P.A.,
REALTOR®, NHSE, SFR, BPOR, CDPE
Charles Rutenberg Realty, Inc
407.536.MIKE(6453) (direct)
407-567-7551 (fax)
michael@michaelbellamy.net
http://www.michaelbellamy.net
The greatest compliment you can give me is a referral to your family, friends and colleagues

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