Soon you will be able to utilize the $8,000 tax credit toward your down payment. The program, which has already been approved, will take a little time to be implemented.
Rumor has it this will take place through secondary loans, which will be "secured" by the tax incentive you will assumably receive next year. One of the challenges with the program is self-employed people. Since they often owe taxes, the loans are not as secure.
The catch is you've you got to be a first time home buyer, but there's more. A first time home buyer is defined as anyone who has not owned in a home in the last three years. Clearly, there are many people out there who qualify for this new program who aren't aware.
Remember, if you live in Utah and you're buying a NEW home, the tax credit can be combined with the $6,000 new home buyer grant. But hurry, they are almost gone!
As more details become available, I'll be sure to blog about it. Happy home shopping! And if you're shopping in the greater Salt Lake City, give me a call! 801-541-8806
You can search all Salt Lake City real estate for sale online at www.saltyhomes.com.
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8 comments:
I wasn't aware of the $6,000 new home buyer grant in Utah! These incentives have got to motivate real estate investors.
A "first-time homebuyer" buying a newly constructed home in Utah can potentially save $14,000 right now. Time to get moving!
It's too bad the first time home buyer tax credit is going to end soon. People better get their butts in gear if they want to take advantage of the credit.
Thanks for sharing this information! I found it interesting and informative! I'm looking forward for the updates regarding that matter!
Salt Lake City Realtor
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Excellent post. Some great informations to be absorbed from this post.I like your writing style very much.thanks for sharing with us.keep blogging.
Homes for sale in Utah
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