VA Loan, Purchase Grant, Rental Benefits - Miami-Dade County
RENT 1 SALE 1 REALTY PROVIDES ASSISTANCE TO VETERANS WITH HOUSING NEEDS.
VA TO PROVIDE INCREASED HOMEBUYING HELP.
$5000 AVAILABLE TO VETERANS, ACTIVE SERVICE, DEFENSE AND HOMELAND DEPT. EMPLOYEES.
In an effort to assist both first time homebuyers, as well as service connected individual who have not owned a home in the past three years or have lost their home as the result of divorce or disaster, the Veteran’s Administration has announced a new program that will make home buying more both more affordable and accessible.
Called Dream Makers and provided by the Pentagon Federal Credit Union Foundation, which is a not for profit organization.
Under the program; active duty, reserve, National Guard or veteran as well as employees of the Department of Defense or Department of Homeland Security are eligible for the grant.
The $5000 may be used toward the down payment or closing costs applied to the purchase and can be utilized with a mortgage issued by any financial institution.
Eligibility for the grant requires the grantee to be either a first time buyer or not to have owned a home for the last three years or to have lost a home through divorce or disaster. There are several income caps and the applicant is requested to contact PenFed for details.
Their website is www.pentagonfoundation.org/dreamermakers
No Money Down To Purchase
This program is an enhancement to the special financing program available through the Veteran Administration. Mortgages for eligible members of the services require no down payment and several reductions in closing costs. Combined with the new grant program, eligible service personal can move into homes with little or no money out of pocket and very attractive rates.
In recent years the Veteran’s Administration has greatly reduced the paperwork required by both the veteran and lender, making the VA loan an attractive financing tool. Details and evaluation of eligibility are available at www.va.gov.
Rental Assistance Available in Many Areas
The Military’s Rental Partnership Program, formerly known as the Set-Aside Program and established to help active military members get adequate rental housing at a reduced rate and with several concessions. The program does not set aside rental housing. Representatives from each installation’s housing office and local landlords enter into agreements to offer service members special rental benefits beyond what other tenants receive. This is voluntary for both landlords and tenants.
Typical benefits might include a waiver of security and utility deposits, little to no out-of-pocket costs for rent, no credit checks or application fees, a discount on market rental rates and immediate access to housing.
Contact the office nearest you for more information or call our corporate office at 877-471-7620.
Or feel free to drop by the office nearest you.
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