NOW IS THE TIME TO MAKE WISE FINANCIAL DECISIONS!

There are OUTSTANDING programs that will help you obtain your dream of home ownership.

IRS FIRST-TIME HOME BUYER CREDIT

The federal government is currently offering a tax credit to first time home buyers (buyers who have not owned a home is 3 years) of $8,000 for purchasing a home between January 1, 2009 and November 30, 2009. This is not a loan and does NOT have to be paid back. The income limits are $75,000/yr for a single person and $150,000/yr for a married couple.

For more information on this program please visit: http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet7

CITY OF ST. GEORGE DOWN PAYMENT ASSISTANCE PROGRAM – FIVE COUNTY ASSOCIATION OF GOVERNMENTS

The city of St. George is offering a down payment assistance program for the Southern Utah region. This is a federally funded program with a goal to assist eligible home buyers with down payment and/or loan closing costs by providing up to $10,000 in the form of a non-interest bearing loan to be repaid when the home is sold or refinanced. The maximum home price allowed is $284,537 for detached homes and $177,510 for attached town homes/condos.

For more information on this program please visit:

http://www.workforcehousingdixie.com/wp-content/uploads/2008/01/dpap-applicant-instructions6.pdf

UTAH HOUSING HOME RUN GRANT

The Home Run offers a $6,000 grant to buyers of newly-built, never occupied homes. Buyer’s income may not exceed the applicable income limits of $75,000 for a single person or $150,000 for a married couple. Buyers must occupy the purchased home as a primary, permanent residence no later than 30 days after closing. The grant is available with Conventional, FHA / VA / RHS, and Utah Housing Corporation (UHC) FirstHome or FirstHome Plus programs.

For more information on this program please visit:

http://b2b.utahhousingcorp.org/HomeRun.htm

UPDATE: All funds for the Home Run Grant have been dispersed and are no longer available!

USDA – RURAL DEVELOPMENT

The USDA offers loan with 100% financing, no monthly mortgage insurance, and flexible credit and qualifying guidelines for houses located in rural areas such as Hurricane, Laverkin, most of Ivins, most of Diamond Valley, most of Dammeron Valley, and any rural area as defined by USDA. This is a loan with 100% repayment required. There is no maximum loan limit based on the program however, the loan limit is determined by appraised value and borrowers repayment ability.

For more information on this program please visit:

http://www.rurdev.usda.gov/rhs/sfh/GSFH_Information/individuals.htm

UTAH HOUSING

Utah housing Corps FirstHome Plus offers financial assistance for first-time homebuyers who do not have personal or family finances with which to pay their down payment and closing costs. These costs generally average 5% - 6% of the home purchase price. Applicants can borrow up to 6% of the amount of their first mortgage using a second mortgage that will have the same term as the first mortgage, but an interest rate exactly 1% higher.

For more information about this program and others offered by Utah Housing please visit:

http://b2b.utahhousingcorp.org/cgi-bin/R?P=uhc_home.html

Here is a quick reference chart.

Call one of our knowledgeable real estate agents for expert advise on any of these programs!