We are pleased to provide additional information about the $6,000 Home Run Housing Grant Program, providing up to 1600 Utah home buyers with $6,000 grants to purchase newly constructed single family homes. Governor Huntsman has until April 1 to sign the bill, let it go into law without his signature or veto. In anticipation of the grant program becoming law, Utah Housing Corporation is qualifying mortgage lenders and preparing to distribute grants.
A Q&A for home buyers, builders, REALTORS, mortgage lenders and others, providing all the program basics is available on the Utah Housing Corporation website, www.Utahhousingcorp.org
Important program highlights:
To apply for grants, consumers should pick out a house they want to buy, then meet with a qualified mortgage lender, listed on the website. They submit the application through their lender, NOT directly to Utah Housing Corporation.
Grants are available on a first-come first serve basis. A total of 1600 grants are available. Utah Housing Corporation website will post regular notices on its website about the number of remaining grants.
The $6,000 grant is available to home buyers who meet the income restrictions of $75,000 for a single buyer and $150,00 for married buyers. First time home buyers can use the grant in combination with the $8,000 federal tax credit. Mortgage loans used to purchase the new homes must have fixed interest rates of 30 years or less.
Mortgage lenders can work directly with Sterling Thomas and his team at Utah Housing Corporation. The Home Run seal on the Utah Housing Corporation home page (www.Utahhousingcorp.org) has a link to assist mortgage lenders qualify as a Home Run lender, and a list of qualified lenders.
