Wednesday, March 18, 2009

$14,000 in FREE money to buy a house!

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UTAH Senate Bill 260 passed March 12, 2009 provides $6,000 grants to buyers of new homes
$8,000 first time homebuyer credit from the Government.

- ANYONE (in UTAH) buying a new home (meaning new construction) that has never been lived in, regardless of when it was built, is eligible for the $6,000.

- Income guidelines are the same as the federal tax credit program. ($8,000 credit)

- Any type of loan can be used to purchase the home, not limited to FHA or Utah Housing.

- Applications are to be obtained through Utah Housing

- Once an application has been approved, applicants have 90 days to close on a new (meaning new construction) home

- ALL homebuyers are eligible for this program, not just first time homebuyers

- Money is available on a first come, first serve basis

- Home buyers would have to secure a fixed-rate mortgage to qualify and would also need to have an income is $75,000 or less, or $150,000 or less for married couples

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