More free money for Utah Real Estate buyers
The Utah Senate approved a $6,000 down-payment grant using allocated funds from the federal economic stimulus package. In order to liquidate some of the newer homes that were built during the real estate boom, down payment grants are now given to home buyers on a first-come first serve basis. The grant is given to buyers who purchase a home that has never been lived in.
To qualify for the grant, individuals must make less than $75,000 and married couples must make less than $150,000. If you combine the $6,000 down payment grant with the $8,000 federal tax credit to first time home buyers and extremely low interest rates, this could prove to be very positive for the St. George real estate market.
The grant money will come from the $10,000,000 given to Utah from the federal stimulus package, and will serve an estimated 1,600 people.
