The Chris Jones Group » HomeRun http://thechrisjonesgroup.com/chrisjonesmortgage Mortgages, home loans, and a whole lot of other stuff. Mon, 31 Oct 2011 16:21:27 +0000 en hourly 1 http://wordpress.org/?v=abc RateWatch ALERT! http://thechrisjonesgroup.com/chrisjonesmortgage/2009/03/13/ratewatch-alert/ http://thechrisjonesgroup.com/chrisjonesmortgage/2009/03/13/ratewatch-alert/#comments Fri, 13 Mar 2009 13:51:55 +0000 chrisjones http://thechrisjonesgroup.com/chrisjonesmortgage/?p=500 The HomeRun Grant was passed by the Utah Legislature yesterday.  It will mean a $6000 grant for anyone that buys a new-constructed, NEVER LIVED IN home.  As long as you make less than $75,000 as a single person or $150,000 as a married couple, you qualify.  You don’t have to be a first-time homebuyer, or buy in any particular area, or anything like that.  It should even apply to you if you build a house now, although since there are only 1600 of these grants, I’d hurry.
Your loan officer has to apply for the grant; you can’t do it yourself, and you don’t get the grant until your loan is cleared to close, at which point the money is wired directly to the title company, where it can be used to cover down payment, closing costs, or, Heavens, given back to you.
Markets have rallied across the board this week, and that’s good news for everyone.  We’re down a fraction on bonds today, but we’re still seeing 4.875% on conventional and 5% (even as low as 4.75% on some programs) on FHA.  NOTE: do not assume that your rate is anything like the foregoing.  You could be better or worse depending on eight hundred sixty-four different factors too complicated to mention here.  Call me.  That’s what I’m here for.
Have a spectacular weekend.  We will.
]]> http://thechrisjonesgroup.com/chrisjonesmortgage/2009/03/13/ratewatch-alert/feed/ 0 Alert! More Government Largesse! http://thechrisjonesgroup.com/chrisjonesmortgage/2009/03/12/alert-more-government-largesse/ http://thechrisjonesgroup.com/chrisjonesmortgage/2009/03/12/alert-more-government-largesse/#comments Thu, 12 Mar 2009 21:12:17 +0000 chrisjones http://thechrisjonesgroup.com/chrisjonesmortgage/?p=496 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.

]]> http://thechrisjonesgroup.com/chrisjonesmortgage/2009/03/12/alert-more-government-largesse/feed/ 0