Military & Veteran Buyers and Sellers

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PenFed Foundation Dream Makers Grants for First-Time Home Buyers

Pentagon Federal Credit Union Foundation offers first-time military home buyers three-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


  • 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 the greater of $55,000 or 80 percent of area median income, adjusted for family size.

Dream Makers Grant Application Process

  • 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 three 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), the application process, and seminars, go to and select Dream Makers.


Pack a House-Hunting Readiness Kit

  • Lender’s pre-approval letter
  • W-2 forms (member and spouse) for the past two years
  • At least the two most recent months of Leave and Earnings Statements and spouse’s pay stubs
  • Copies of statements for at least the two most recent months of savings and checking accounts and any other accounts that may be used for earnest money and down payments
  • Checkbook
  • Real estate specific power of attorney for an absent spouse
  • Digital camera, video camera, or smartphone



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