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Dream Makers Grant Program - Detail Verified 5/15/13 Last Updated 11/14/12

Program Overview

Dream Makers Grant Program - Detail Verified 5/15/13 Last Updated 11/14/12 is a program that offers financial assistance of up to $5000 in the form of a 3-to-1 matching grant to first-time homebuyers who are veterans or active-duty military servicemembers. The buyer must contribute at least $500. Buyer must be a first-time homebuyer or have not owned a home for at least three years or you have lost your home through divorce or disaster. This program is available in the US.

Who is eligible for this program?

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 home buyer, 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 maximum of $55,000 per year, or * A maximum of 80% of your community’s median income based on your family size. Program funds may be used for a down payment and/or closing costs. HUD Median Income Limits: 80% Is this program for first time buyers only? Yes

Property Eligibility Requirements

This program is available in the United States. The sales price cannot exceed $ note: no maximum sales price. Allowable property types: single-family homes only

Benefit Details

Mortgage must be a 30-year, fixed-rate loan, maximum of 97% financed. The maximum assistance amount is $5000. Benefit: The Dream Makers Program offers grants for down payments to first-time homebuyers of modest means who valiantly work to protect our country’s national security. Loan Term: 30 years Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes

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