New grant for military first-time home buyers!

By
Real Estate Agent with Parker Properties 0459820
http://actvra.in/fFX

What a GREAT opportunity to help those service men & women who have given so much for their country!

A new program offers financial assistance to first-time homebuyers who are veterans or active-duty military members. The Pentagon Federal Credit Union Foundation, a nonprofit national organization, offers the program through its Dream Makers program.

1st time Homebuyer for Military

Active duty personnel, veterans, retired members of the military and employees of the U.S. Department of Defense and the Department of Homeland Security may be eligible for a grant up to $5,000 to use toward downpayments and closing costs if buying their first home. The grants can be applied to a mortgage issued by any financial institution.

“Members of the military often put off buying a home early in their careers because they’re moving around the country a lot,” says Kate Kohler, chief operating officer for the PenFed Foundation. “We want to make sure they have resources to add immediate equity into their home when they decide to buy.”

Requirements:

  • Military affiliation – (active duty, reserve, National Guard or veteran) – a Department of Defense employee or a Department of Homeland Security employee.
  • First-time homebuyer or not owned a home for the last three years; or a home has been lost through divorce or disaster.
  • Gross household income, including allowances, used to qualify for a mortgage loan is a maximum of $55,000 per year, or 80% of a community’s median income based on family size.

For more information & eligibility requirements, visit www.pentagonfoundation.org/dreammakers

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Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. Rosemary Brooks 07/27/2011 11:52 PM
  2. Lanre Folayan 07/28/2011 12:13 AM
  3. Mike Saunders 07/28/2011 11:12 AM
  4. Michelle Cooks 01/04/2013 08:45 PM
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Rainer
19,948
Natalie Vizir, Broker Associate Dana Point Laguna Niguel Homes For Sale
RE/MAX Signature Services - Dana Point, CA
Natalie Vizir

I Like this post...especially where we live...thank you!

July 27, 2011 11:48 PM #1
Ambassador
514,111
Lynn B. Friedman
- - - Concierge Real Estate Services for YOU - - - Providing SERVICE for Sellers & Buyers is our BUSINESS - Atlanta, GA
REALTOR ATL BuckheadMidtownWestside 404.939.2727

Dear Kathy -

Thanks for this information!  We are working with a vet right now!

Have a happy day -
Lynn

July 27, 2011 11:56 PM #2
Rainmaker
54,730
Kathy Fisher
Parker Properties - Decatur, TX
Realtor Wise County Texas

It REALLY sounded like a great program and I just couldn't resist getting the word out after I checked it out. I really hope its going to be as GREAT as it sounds!

Keep me posted if either of you have a chance to check into personally. Unfortunately, I'm not working with any active or retired military in my area right now.

HAPPY SELL'ng out there in these ROUGH REAL ESTATE SEAS!! God bless.

July 27, 2011 11:59 PM #3
Rainmaker
157,175
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Thanks for the great information.  I love hearing about new programs to help people become homeowners.

July 28, 2011 11:00 AM #4
Rainmaker
563,876
Mike Saunders
Lanier Partners - Athens, GA

Kathy - thanks for pointing this out. I will certainly be spreading the word around about this.

July 28, 2011 11:08 AM #5
Rainmaker
459,454
Andrea Bedard
Thompson Company, REALTORS - Silver Spring, MD
M.A.; REALTOR Silver Spring, MD and beyond

Mike, you already did. I didn't see Kathy's blog yesterday! Bookmarked & I'll be spreading the word, too. Thank you Kathy.

July 28, 2011 03:20 PM #6
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Rainmaker
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Kathy Fisher

Realtor Wise County Texas
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