How To Apply For The $6,000 New Construction Grant In Utah

The Utah State Legislature passed a bill, Senate Bill 260, on March 12, which provides $6,000 grants to buyers of newly constructed homes. The bill was approved by two/thirds of both houses. It will become effective immediately when signed into law by the governor.

While all of the information on the grant has not been released, we do know that $10 million has been allocated for home buyers who purchase properties that have not been previously occupied. $6,000 will be given to each borrower, meaning roughly 1,600 buyers will be able to capitalize on this grant.

The grant will be issued to approved lenders through the Utah Housing Corporation. The grant will only be issued to buyers who meet qualifying parameters. To make sure you qualify click here for a fast, easy online application.

Utah $6000 Home Grant

Many people are already aware of the new “Homerun Housing Grant” or “Utah $6000 New Contstruction Grant” Following are highlights of a new housing stimulus package, to be administered by the Utah Housing Authority, for homes purchased in the state of Utah (Click here to see if you qualify). This law was passed March 12, 2009:

- $6000 Grant for new construction (to qualify, the home must have never been lived in)

- Cannot make more than $75,000 ($150,000 for couples)

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

- Once an application has been approved, applicants have 90 days to close on a NEW home

- Available to all home buyers

- $10,000,000 available- (about 1,600 grants)

- First time homebuyers can combine the $8000 first time federal tax credit with this program for a total $14,000 in federal and state credits.

Tomorrow, I'll go over how to apply for this grant.

Contact me, or leave a comment with any questions.