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  • Dream Maker Grant

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    The PenFed Foundation offers a first-time homebuyers program called Dream Makers that provides down payment assistance grants of up to $5,000 for eligible applicants putting as little as $500 of their own funds towards a home purchase. The program was designed to help military, veterans, and Department of Defense/Homeland Security employees afford homeownership. Applicants must be first-time buyers or have not owned a home in the last 3 years, have a household income up to $55,000 or 80% of the median, and obtain a 30-year fixed rate mortgage for no more than 97% of the home's value.

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    The PenFed Foundation offers a first-time homebuyers program called Dream Makers that provides down payment assistance grants of up to $5,000 for eligible applicants putting as little as $500 of their own funds towards a home purchase. The program was designed to help military, veterans, and Department of Defense/Homeland Security employees afford homeownership. Applicants must be first-time buyers or have not owned a home in the last 3 years, have a household income up to $55,000 or 80% of the median, and obtain a 30-year fixed rate mortgage for no more than 97% of the home's value.

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    3 views2 pages

    Dream Maker Grant

    Uploaded by

    godardsfan
    The PenFed Foundation offers a first-time homebuyers program called Dream Makers that provides down payment assistance grants of up to $5,000 for eligible applicants putting as little as $500 of their own funds towards a home purchase. The program was designed to help military, veterans, and Department of Defense/Homeland Security employees afford homeownership. Applicants must be first-time buyers or have not owned a home in the last 3 years, have a household income up to $55,000 or 80% of the median, and obtain a 30-year fixed rate mortgage for no more than 97% of the home's value.

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    PenFed Foundation Dream

    Makers

    A First-Time Homebuyers
    Program for Those in the
    Service of Our Country’s
    National Security

    T he PenFed Foundation wants to help make


    your dream of home ownership come true.
    We’ll match your mortgage nest egg three to
    one, up to $5,000. You can start with as little
    as $500 of your own.
    Total for
    Your Foundation Closing
    Contribution Grant and Down
    Payment
    $500 $1,500 $2,000

    $1,000 $3,000 $4,000

    $1,500 $4,500 $6,000

    $1,667 $5,000 $6,667

    $2,000 $5,000 $7,000


    Just one of the homes purchased
    using Dream Makers. $3,000 $5,000 $8,000

    $5,000 $5,000 $10,000

    $10,000 $5,000 $15,000

    Grants available up to $5,000 toward a home This program was designed to assist those
    purchase for closing costs and down payment. serving our national security who would not
    be able to afford a mortgage due to the high
    It takes as little as $500 of your own funds. upfront costs. Please continue reading to see
    if you may be eligible for participation.

    Apply for
    Dream Makers Today
    Apply online at
    PenFedFoundation.org
    or call (703) 838-1335
    for more information.
    PenFed Foundation Dream
    Makers

    You’ve earned your stripes.


    You deserve to own a home.
    Just one of the homes purchased
    using Dream Makers.

    Take these easy steps to own your first home:


    1. Determine if you’re eligible for this program. Eligibility require-  Your gross income including allowances is in the qualifying range
    ments are: of $55,000 per year or 80% of your community’s median income
    based family size.
     You’re active duty, reserve, National Guard, or veteran military,
    2. Qualify for a mortgage.
    OR current employee of Department of Defense or Department
    of Homeland Security, 3. Decide the amount of money you will contribute toward your home’s
    down payment. A minimum of 3%, which includes grant funds, is
    OR spouse or unremarried former spouse of a military service required.
    veteran who died or was disabled in the line of duty and who
    has not been discharged from military service under less than 4. Fill out and submit your application online at PenFedFoundation.org
    honorable conditions.
    5. Attend a home-buying educational seminar in your area.
     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 For many families, home ownership is a source of pride and a big step
    or disaster. closer to financial stability. Let us help you get there.

    Mortgages must be 30-year fixed-rate loans, maximum of 97% financed. 3% down


    payment required. Property must be a single-family dwelling, including townhomes
    and condominiums. Must be at or below maximum income guidelines to qualify.
    Apply for
    Dream Makers Today
    Apply online at
    PenFedFoundation.org
    or call (703) 838-1335
    for more information.

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