Home Run Grant
Sunday, April 19th, 2009What is the $6,000 Home Run Grant?
The Home Run Grant is a mortgage assistance program that grants $6,000 to home buyers who purchase a newly-constructed, never-occupied primary, single-family residence in Utah. The Home Run Grant is funded by the Housing Relief Restricted Special Revenue Fund, established by Utah Governor Jon Huntsman, the Utah State Legislature, and Utah Housing Corporation.
When is the Home Run Grant program being launched?
The governor has signed the bill into law and the program is now launched.
Who is eligible to receive a $6,000 Home Run Grant?
- Home buyers must meet the following income restrictions:
- Single person, $75,000
- Married couple, $150,000
- If more than one unmarried person is taking title to the Eligible Home, each such single person is subject to the $75,000 income limit.
- Home buyers must occupy the purchased home as a primary, permanent residence no later than 30 days after closing.
- If home buyers need a mortgage loan to purchase the home, the loan must be a fixed interest rate, amortizing mortgage loan with a term of 30 years or less. Cash buyers can also qualify by contacting Utah Housing Corporation directly.
How does a home buyer get the Home Run Grant funds?
To get a first-come, first-served written commitment for the Grant, home buyers must:
- Enter into a written contract to purchase a newly-constructed, single –family home.
- Contact a lender to obtain final underwriting approval for any needed financing.
- Have their mortgage lender furnish required documentation to Utah Housing Corporation for the Grant.
- Utah Housing will reserve the $6,000 Grant for 30 days.
Go directly to website for more information and application
Related posts:
- Down Payment Grant
- First Time Home Buyer Grants
- Grants for Home Buyers
- Home Repair Grant
- Homeownership Grants in Ohio