Cache Valley Real Estate - $6,000 Utah Housing Bill Passes Legislature

Providence Utah Real Estate

Providence Utah Homes

The $6,000 Utah grant money has passed both the Utah Senate and House, and is awaiting the Governor's signature. It is expected that he will sign it without any hesitations when it comes accross his desk.

The money for Senate Bill 260, sponsored by Sen. Scott Jenkins will come from the $10,000,000 that Utah is set to receive for housing assistance from the federal stimulus package. This means the money will be limited, and it is estimated that only 1,600 people will be able to receive the $6,000 grant.

Some important points include:

- Up to $6,000 - which can be applied towards a down payment.
- For new construction only.
- Not limited to first time home buyers, but does allow second, and even third time home buyers the opportunity to receive this money, as long as their home is new construction.
- Income limits are $75,000 for a single person, and $150,000 for married filing jointly.
- Can be combined with the recent federal $8,000 first time homebuyer tax credit.

It is estimated that the job growth and revenue for the state from this program will exceed $27,000,000, so this program will be good for the state all around.

These grants are time sensitive, and will only be available for as long as the money is available, so contact Shane Calder with Cornerstone Real Estate, or e-mail Shane@utahcornerstone.com , for more information on how to obtain this grant money when it becomes available.