FREQUENTLY ASKED QUESTIONS ABOUT HOME RUN 2 GRANTS
Any questions fell free to contact me. Voice or Text 801-694-4762 or Rob@Aubrey.net
As I wrote about on August 24th. Utah has committed federal stimulus money to issue another 1,950 $4,000.00 Home Run Grants. The first Home Run Grant generated $377,000,000 in Real Estate Sales. That is a lot of stimulus.
Below are FAQs for the Utah’s Home Run Grant 2
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.
How is Home Run 2 different from the first Home Run program?
The first Home Run program, which ended in June 2009, provided a $6,000 grant to eligible home buyers. Home Run 2 provides a $4,000 grant. The first program required that homes be ready for occupancy upon closing. Home Run 2 buyers have two additional options. They can purchase a home that is contracted for construction or partially finished and contracted for completion. Homes that have been previously occupied do not qualify.
When a Home Run 2 Grant Commitment is issued, if the Eligible Home is fully constructed, the Commitment expires 10 calendar days after the date of issuance (unless that day falls on a weekend or holiday and then it is the following business day). If the Eligible Home is somewhere in the construction process, the Commitment expires on June 30, 2010.
All other aspects of the program are materially the same as the first Home Run program, as summarized below.
Who is eligible to receive a $4,000 Home Run 2 Grant?
