Sandy city has rolled out a home-buying incentive program!
Sandy city has created a new program that will provide low- and moderate-income home buyers with $5,000 for buying a new home in the city. These funds, which can be applied to the down payment and/or closing costs, are actually interest-free loans. After staying in the home for three years, the loan becomes a grant and does not need to be repaid.
Sandy plans to provide 10 loans to buyers of existing, never-occupied homes, and another 10 to buyers who would like to build their home. To qualify for the grant the purchased home needs to be within Sandy city limits, and must be a "single-fmaily" dwelling (this includes townhomes and condos). Also, the purchase prices cannot exceed $305,000 and household incomes must be below certain limits to qualify. This grant is not only for first-time buyers, ANYONE who qualifies has access to this money.
If the program is successful additional grants may become available after the original 20 are gone. However, the only guarantee is for the first 20 grants! Contact a Utah Dave Grant Specialist to see if you qualify for one of these grants so you can take advantage of this great opportunity.
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