Governor Gary Herbert announced today that first time home buyer's can now use their $8,000 tax credit for down payment and closing costs!
Utah Housing will give First Time Home buyer's, who meet the credit and income guidelines, a first mortgage loan and a small second mortgage loan for purchase of their home and also payment of closing costs and down payment.
The buyer then applies for the tax credit with an amendment to their 2008 tax returns and when received, can apply the money to their first or second mortgage used to purchase the home. If they apply the money to the 2nd mortgage within 6 months of the loan date, Utah Housing will credit them $100.
Here is the web link with all of the details:
http://b2b.utahhousingcorp.org/PDF/EQNborrower.pdf
I am an approved Utah Housing Lender and can help you with any questions which you have.
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