Pennsylvania Home Buyer

VA home loan assistance

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VA Frequently Ask Questions

US flagDo you know about the Dream Makers Program for veterans?

The Pentagon Federal Credit Union Foundation (PenFed Foundation) is a national charity who want to help Pennsylvania veterans own a home. PenFed will match the down payment (and possibly the closing cost requirement) two to one, up to $5,000 to eligible first time home buyers.

PA vets can start with as little as $500 of your own money.

Home Buyer Contribution PenFed GrantTotal for Down Payment and Closing Costs
$500 $1,000$1,500
$1,000 $2,000 $3,000
$1,500 $3,000$4,500
$2,000$4,000 $6,000
$2,500 $5,000 $7,500
$3,000 $5,000 $8,000
$5,000 $5,000 $10,000
$10,000 $5,000 $15,000

Military hatsAre you eligible for a Dream Makers grant?

Military veteran, active duty, national guard, reserve.

Applicants are required to be first time home buyers. The definition of a first time home buyer is a buyer who has not owned a home for the previous three years, or has lost a home through disaster or divorce. Pre-approval/Pre-qualification by a licensed mortgage lender is required.

Are There Any Grant Restrictions?

The PenFed Foundation requires a 30 year, fixed-rate loan mortgage with a 3% minimum down payment. The property must be an owner occupied single family dwelling. Condominiums and townhomes are also eligible for the PenFed Foundation grant. Prospective home buyers are required to meet reasonable income limits.

Eligible Loan types

VA, FHA, Conventional

Additional Reading

The Veteran Home Loan Overview
The VA loan is a terrific way to purchase a new home in Pennsylvania. Here are some of the benefits of a VA home loan. Read more

VA Certificate of Eligibility
You will need a Certificate of Eligibility (COE). The COE verifies to the lender that you qualify for a VA backed loan. loan. Read more

What is a VA Funding Fee?
If you're a vet, and you've searched the internet for information on a VA loan, undoubtedly, you have come across web sites talking about a VA funding fee. So what is it? Read more

VA Loan Calculator
Easily calculate the maximum VA mortgage loan for Pennsylvania, including VA jumbo loan for PA.
Proceed to the VA Calculator

Eligibility Requirements for VA Home Loans
To be eligible for a VA-guaranteed loan, you must meet credit and income standards and have a valid Certificate of Eligibility (COE).  Read more

VA Home Loan - Frequently Asked Questions
Proceed to the VA FAQ