For those of you in Utah, there is a bill currently before the Utah House (has already passed the Senate) that would give a $6000 grant to anyone that purchases a new-built, never-occupied home.
Restrictions (up to the moment):
a. has to be a 30-year, fixed-rate loan
b. borrower can’t make more than $75,000 a year ($150,000 for married couples)
c. house cannot ever have been lived in at all, even by renters
d. loan has to be fully approved and ready to close before application for the grant is made
But that’s it. Utah Housing Corporation will administer what is being called the Home Run Grant. The money is wired directly to the title company. It doesn’t block you getting the $8000 tax credit from the Feds, either. There are 1600 of these available.
Or, more accurately, there will be 1600 of these available if the House approves it in time. Today is the last day of the session for the Utah Legislature, and it will all be over by midnight. I’ll keep you posted.