Now is the time to buy real estate with lower interest rates and stimulus money! If you’re looking for new construction, take a look at what the $4,000 Home Run 2 Grant can do for you:
Who is eligible to receive a $4,000 Home Run 2 Grant?
Home buyers who did not receive a $6,000 grant under the previous $6,000 Home Run Grant Program.
Home buyers (any person taking title) must meet the following income restrictions:
Single person, maximum income, $75,000
Married couple, maximum income, $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.
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.
The Home Run 2 Grant Program is effective only for home purchases closed after a Home Run 2 Grant Commitment has been issued for that specific transaction. The grant funds may not be issued for homes purchased prior to obtaining the Home Run 2 Grant Commitment.
Can Cash Buyers qualify to get the Home Run 2 Grant?
Yes. Cash Buyers must contact Utah Housing directly. Cash Buyers, like all other Buyers, must obtain a written Home Run 2 Grant Commitment prior to closing.
What property types can be purchased with a $4,000 Home Run 2 Grant?
Eligible property types include single-family detached homes, condominiums, planned unit developments (PUD), twin homes, town homes and manufactured homes permanently affixed to a foundation.
What is the $4,000 Home Run 2 Grant?
The Home Run 2 Grant is a mortgage assistance program that grants $4,000 to home buyers who wish to: (A) have a new home constructed, (B) have a partially-constructed home completed, or (C) purchase a newly-constructed home. It must be the primary residence of the home buyer. Homes that have been previously occupied do not qualify.