1,599 grants remaining

Besides the $8,000 dollar tax credit for first time homebuyers, there is now a $6,000 grant for anyone that purchases a new-construction home. The guidelines are pretty much the same as the federal tax credit except the home must be new construction and the buyer does not have to be a first time homebuyer. There is some excellent information about it on the utah housing website.

Obama's Tax Credit

A lot of people have asked me about the new first time homebuyer tax credit and how it compares to the old $7,500 tax credit/loan. The two biggest differences that I can see is 1. It is for $8,000 and 2. It is not a loan but a legitimate tax credit that you don't have to pay back!! Sounds pretty sweet to me. One way to think about it is if you buy a home for $100,000, the real price is $92,000. Frankly I wish I were a first time homebuyer so I could take advantage of this incredible opportunity. For more information, I found this article on yahoo.com... First Time Homebuyer Tax Credit