The Pentagon Federal Credit Union Foundation offers first-time military home buyers two-to-one matching grants up to $5,000 for down payments and closing costs. The home buyer doesn't have to be a PenFed member to benefit from Dream Makers, and the grant can apply to a mortgage from any financial institution.

​

ELIGIBILITY

• Military (Active Duty, Reserve, National Guard or Veteran), a Department of Defense employee, or a Department of Homeland Security employee.

• First-time home buyer, have not owned a home for the last three years, or lost a home through divorce or disaster.

• The gross annual income of all applicants used to qualify for mortgage is no more than 80 percent of area median income, adjusted for family size.

• applicants start by deciding the amount of money they can contribute in down payment and closing costs. The minimum applicant contribution is $500.

• The applicant's contribution plus the Dream Makers grant must be at least 3 percent of mortgage amount.

• The Dream Makers program matches the applicant's contribution two to-one, up to a maximum of $5,000.

• Applicants must attend a home-buying educational seminar in the area or online.

​

An applicant can apply for a Dream Makers grant online—even before starting to look for a home or selecting a mortgage company.
For more information on eligibility (including applicable medium income and contribution limits) and the application process, go to https://penfedfoundation.org/apply-for-assistance/dream-makers.