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PenFed Foundation Dream Makers Grants for First Time Home Buyers










The Pentagon Federal Credit Union Foundation offers first-time military  home buyers three-to-one matching rants 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 an apply to a mortgage from any financial institution.








  1. Military (Active duty, Reserve, National Guard, or Veteran), a Department of Defense employee, or a Department of Homeland Security employee.
  2. First-time home buyer, have not owned a home for the last three years, or lost a home through divorce or disaster.




  1. The gross annual income of all applicants used to qualify for a 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:




  1. Applicants start by deciding the amount of money they can contribute in down payment and closing costs.  The minimum applicant contribution is $500.
  2. The applicant’s contribution plus the Dream Makers grant must be at least 3 percent of mortgage amount.
  3. The Dream Makers program matches the applicant’s contribution three-to-one, up to a maximum of $5,000.
  4. 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.