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Here are the facts concerning Utah's $6,000 New Housing Grant

• To be used for the purchase of new construction or never occupied properties.
• $6,000 Grant - No Repay Required
• Only for Owner Occupied Transactions
• No First-Time Homebuyer Requirement
• $6,000 can be applied towards down payment, closing costs, rate buydown or principle reduction.
• May use any Mortgage Lender.
• Loan Types: Conventional, FHA, VA, Rural and Utah Housing - 30yr fixed terms only.
• To request grant, loan must be approved by underwriter.
• State fund: $10,000,000 (approx 1800 borrowers).
• Subject to Utah Housing Income Limits and Max Loan Limits (per county).
• Applicant can not make more than $75,000 single, $150,000 married.

Congress Has Approved An $8,000 Tax Credit for Homebuyers!

The credit is available to first-time home buyers and/or people who have not owned a home for three or more years. The credit applies to purchases made between 1/1/09 and 12/01/09.

Q: How much is the tax credit?
A: $8,000 or 10% of the purchase price, whichever is less.

Q: What type of purchase is eligible?
A: The purchase of a principal residence by first-time homebuyers.

Q: Who qualifies for the first-time homebuyer credit?
A: According to the IRS, any taxpayer who has not owned a home during the three years prior to the date of purchase can qualify for the credit.

Q: Do I have to repay the credit?
A: NO, as long as you live in the home three or more years.

Q: Are there income limitations on the tax credit?
A: The credit phases out for individuals with ADJUSTED gross income over $75,000 or married couples over $150,000.

For more information please call (801) 824-5070

Rates are below 5%, home prices have dropped and there are many wonderful homes to choose from. Don't wait until everyone else has decided the market has bottomed, ACT NOW!

If you have a credit score of 620 or higher, you have 3.5% to put down or are a Veteran, you're good to go. We can find you a home now where the seller will pay your closing costs!

Did you know that a family member can pay your 3.5% down on a FHA loan! Did you know that you may qualify for a $8,000 tax deduction too!

Call us today for the datails: (801) 824-5070

When you're out on the net shopping for a loan you're sure to run into LendingTree and a host of other Mortgage Lead Generators. They claim "When Banks Compete, You Win". What they don't tell you is that they are simply a lead generator for companies who pay them for your information.

When you apply for a loan, anywhere, the rate you're quoted is simply a best guess. No one can tell you exactly what your rate and loan costs will be until your credit is run, income is verified and your purchase contract has been reviewed. Then comes the appraisal and underwriting where things can change drastically.

Within our Real Estate practice our clients who use LendingTree or other lead generators have experienced higher interest rates, higher closing costs and more loan denials regardless of what they are told up front when "Banks Compete" for your business.

The best advice we can give you regarding your next mortgage is to stay local. Work with a local Mortgage Broker, Bank or Credit Union. You want to be able to sit in front of the person responsible for your loan when things don't go as planned.