New Housing Grant For Utah: $4,000 For New Homes
Posted by Ron Ogden at Dwell Utah on Wednesday, September 9th, 2009 at 2:51pm.Utah Housing has just announced a new mortgage assistance program that grants $4,000 to home buyers who purchase new homes for sale in Utah. This grant is available to buyers who
- wish to build a new home, or
- purchase a new home that is currently under construction, or
- buy a new home that has been completed, but has never been lived in
Eligibilty For The Home Run 2 Grant
To be eligible for the Home Run 2 Grant, buyers must have not received a grant under the recent completed Home Run 1 program. In addition, buyer must meet the following restrictions:
- Income cannot exceed $75,000 if single, or $150,000 if married.
- The home must be occupied as the buyer's primary and permanent residence.
- If a mortgage loan is required, the loan must be a 30-year term or less and carry a fixed rate.
- The Grant cannot be applied retroactively to a home purchased prior to receiving a grant commitment.
- The grant application must be submitted by November 30, 2009.
Though the amount of the grant in the Home Run 2 program is less than $6,000 grant in the original Home Run program, the purchase options are greater, including homes that are currently under construction or that have not yet been started. If a loan is used, it must be through a Utah Housing approved lender, but cash purchases also qualify for the grant.
Up To $17,000 Available To Utah Home Buyers
This is another great oppurtunity to purchase homes for sale in Utah at a significant discount. Remember that the federal government is also offering an $8,000 tax credit to home purchasers. Further, some cities are also offering cash incentives to home buyers: Sandy, Utah, for example, is offering $5,000 to qualifying home buyers. So, if you were to buy a new home in Sandy, you could recieve up to $17,000 in government incentives.
Most Incentives Expire Before Year End
These incentives, though, are set to expire soon--most before the end of the year. If you would like more information on how to take advantage of one or more of these great opportunities, please give me a call or send an email. I'll be glad to fill you in on the details.
The Premier Source For Buying & Selling Homes in Utah: www.dwellutah.com
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Selling a Home in Salt Lake? Contact Dwell Utah.
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