Good news for Military Home Buyers!
The PenFed Foundation (Pentagon Foundation through the US Govt) is providing $5,000 Grants for First Time Military Home Buyers. The grants are available to Military Personnel, (Active Duty, Reserve, National Guard or Veteran), to Department of Defense employees and to Department of Homeland Security employees.
Not exactly a first time home buyer? Well, there might be a loophole for you, too. The grant is open to you if you’re a first-time home buyer, OR you have not owned a home for the last three years, OR you have lost your home through divorce or disaster.
You have to contribute at least $500 to your down payment and Dream Makers will match your contribution three-to-one, up to $5,000. In order to qualify, your gross household income, including allowances, that you use to qualify for your mortgage loan also has to be less than $55,000 per year, OR, A maximum of 80% of your community’s median income based on your family size.
You can fill out your Dream Makers application online by visiting the Pentagon Foundation here. If you have any questions, feel free to give me a call or send me an email and I will put you in touch with the right lender and then we can go find your dream home!