Utah's Home Run Grant Program - Back Again But Not For Long!!!

Real Estate Agent with United Country Real Estate So. Utah

For those of you who missed out on the Home Run Housing Grant in Utah last spring, you now have a 2nd chance. If you combine this $4,000 Grant with the $8,000 Federal First Time Buyer Tax Credit you can save up to $12,000 on a new home this year. It's should be a  "No Brainer" for those of you who qualify. The Government wants to stimulate the economy and you want a house. This is your "Bail Out".

Basic Rules of the Program:

  1. $4,000 Grant has NO repayment required. Can be used for down payment, closing costs or rate buy-down.
  2. New Construction Only- Home must NEVER have been lived in. Can be finished, partially finished or presale scheduled for completion by June 30, 2010
  3. Grant Commitment Limit- If eligible home is fully constructed, the commitment expires 10 calendar days after date of issuance. If home is in the construction process, the commitment expires June 30, 2010.
  4. Must be the buyers Primary Residence!! Not good for investment properties or 2nd homes
  5. There are 1940 Grants left at this time. 1st Come 1st Served.
  6. This program is for ALL qualified buyers, not just 1st time buyers.
  7. To apply for the Grant your loan must be fully approved by the Underwriter (another good reason to get PRE-APPROVED)
  8. There are some income limits, call me or your Realtor for more information
  9. Program expires December 1, 2009
  10. Funds may be taxable. Talk to your Tax Professional about this.

Don' Be a Fence Sitter! We may never see this "Perfect Storm" for buyers again in our life time. And really we don't want to, because it would mean we were in another recession. But right now we have Low Interest Rates, Great Tax Incentives, Low Housing Prices and High Inventory. This is a True Buyers Market.

Comments (1)

Adan Aguillon
Clark Realty & Associates LLC - San Antonio, TX

Always refreshing to see agents get the word out on informatioin that can be helpful to not only your clients but the industry as a whole :)

Sep 09, 2009 05:22 PM