$6000 Tax Credit for New Contruction

The Home Run Plan for New construction for Utah. This is good stuff and here are some facts!

The $6,000 Home Buyers Program AKA Home Run Program is now here and ready to use.



This will go though Utah Housing Corporation and when the money is gone it’s gone! There are only about 1,667 of these so if you have people who want it they need to move fast.



We have documented clarification on “piggy backing of programs” so this is the time to sell as many homes as you can. The questions have been;



Q. Beckie, if I find a home and or buyers who can do a Utah Housing loan and or a Rural Housing loan can they use the $8,000 Tax Credit?



A. YES they can. This has gone back and forth; all they need to do is see their Tax person and the form they use is 5405 (See attachment).



Q. Can you use the Home Run Program for the down payment and then use the $8,000 Tax Credit too?



A. Yes, just remember the Home Run Program can be use for anyone buying a new build and fits all the guide lines, income etc… If the buyer is not a 1st time home buyer then they can’t use the $8,000.



Q. How long will this last?



A. Money does have an end- The Home Run Program will end when all the allotments have been used, again about 1,667 of them. The $8,000 is till Dec 1 2009.



I hope this helps any questions or clients you need help with please let me know,