Buying and affording a home is becoming a little bit easier for military families with the help of PenFed Foundation’s Dream Makers program. The Dream Makers program is funded by private donations from individuals and corporations and awards grants to military families to help them buy a new home. The program awarded its first grant in 2007 and today hopes to award a total of $1 million in grants.
To be eligible for a grant you must:
- be a member of the PenFed Foundation (Pentagon Federal Credit Union)
- be a member of a military branch of service, including the Coast Guard (widows are also eligible)
- be a first-time home buyer
- have a gross annual income of $55,000 or less, or 80 percent of area median income, adjusted for family size
The program does more than just help military families buy homes it also provides emergency financial assistance and child care to wounded warriors and their families through its Military Heroes Fund and interest-free loans to service members through its Asset Recovery Kit program.
If you would like to donate to the program or apply for a Dream Makers grant click here for more information.