Military Down Payment Assistance for Home Purchase

Military down payment assistance for home purchase

The program offered by PenFed Foundation is called Dream Makers.  It offers grants for down payments to first-time homebuyers of modest means who valiantly work to protect our national security. You don’t have to be a Pentagon Federal Credit union member to benefit from Dream Makers and you can apply the grant to any  financial institution.

The big question is who gets to qualify?

You’re eligible for a Dream Makers grant if:

1. You’re Military (Active Duty, Reserve, National Guard or Veteran), a Department of Defense employee or a Department of Homeland Security employee.

2. You’re a first -time homebuyer, or you have not owned a home for the last three years, or you have lost your home through divorce or disaster.

3. The gross household income including allowances that you use to qualify for your mortgage loan is

a) A maximum of $55,000 per year, or

b) A maximum of 80% of your community median income based on your family size

Click here to determine your community’s median income based on family size.

What Steps Do I Take?

Decide the amount of money you will contribute to your mortgage financing.

  • $500 is the minimum amount for you to contribute.
  • Dream Makers will match that three-to-one, up to our maximum of $5000.
  • Estimate the size of your mortgage loan. Decide if the money you contribute, plus the Dream Makers grant, will be at least 3% of mortgage amount. You must put 3% down to qualify for the grant.
Fill out Dream Makers application. The fastest way to complete it is online.
You may apply when you start to think about purchasing a home: you don’t have to select a home and/or a mortgage company before you submit your application. To fax or email, download this form.
We will respond to your application with instructions on the process. When you select your mortgage company, you will share the contact information with the Foundation who will coordinate the grant paperwork process with your lender.
Attend a home-buying educational seminar in your area.
See upcoming seminars and locations


San Diego military relocation provides housing assistance to military families moving to and from the area.

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