The Pentagon Federal Credit Union Foundation’s Dream Makers program is helping military members to achieve their goals for Real Estate for Military Relocation. It is offering $5,000 grants for military real estate buyers to put toward closing costs and down payments. The program is open to active service members and veterans who are planning on buying a home for the first time, and it is the perfect opportunity to buy Jacksonville real estate. Traditions Realty can help Jacksonville military real estate buyers to make the most of the grants they receive and to find their dream homes.
At Traditions, we understand that a career in the military may mean a lot of time spent away from home, but that should not prevent you from becoming a Jacksonville real estate owner. Instead, you can make a wise investment that can generate income. We make listing homes for rent in Jacksonville easy. Take advantage of the Dream Makers’ grant for military real estate buyers and make your Jacksonville real estate dream a reality. Read more below.
New grant for military first-time home buyers
WASHINGTON – July 27, 2011 – 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.
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 Military Realtor Agency. “We want to make sure they have resources to add immediate equity into their home when they decide to buy.”
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.
To view eligibility requirements, visit www.pentagonfoundation.org/dreammakers.
Source: “Veterans and Active Duty Can Get Financial Help When Buying Their First Home,” Pentagon Federal Credit Union Foundation (July 25, 2011)
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