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Office Location Ron Ogden, Associate Broker
RE/MAX Metro
110 North Main Street
Bountiful, Utah 84010
Phone: (801) 891-1472
Fax: (801) 296-1342

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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