Federal Bailout Money Stuffed into the Pockets of Eager New Home Buyers

The Utah legislature just took some of that federal bailout money coming its way and pushed it into the waiting hands of soon-to-be new home buyers. While the program, dubbed the Home Run Grant, has been approved, it will likely be the end of this week or next before any funds will be available through Utah Housing.

Of course, with any grant or government program, there are many stipulations. First, the home or condo must be new. Generally, a new home is considered to be one that has not been lived in before.

The next stipulation is based on income. The limits have been set high, with $75,000 for an individual or $150,000 for a couple filing jointly. Married couples filing jointly get a nice workaround for the $75k limit, as one person could make $100,000/year as long as the total joint income is less than $150k.

For the full article about the $6,000 new home buyer grant in Utah, read  http://utahpulse.com/featured_article/6000-grant-utah-new-home-purchases.

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