07-28-2009, 12:10 PM
It's for first time homebuyers only, or someone that hasn't purchased a home in the past three years. There is also a Utah stimulus of $6000 right now that will go towards your down payment, if you buy a dwelling that has never been lived in before. I just bought a house and only had to bring 3% to close with the use of the Utah stimulus. I feel sorry for the people that bought last year and paid almost $45000 more than I did in the same community. I would say now is a good time to buy, and the housing market should bottom out in the 1st or 2nd quarter of next year, and as soon as the 3rd quarter this year. I wouldn't expect to see the appreciation that the market has seen in the past 7 years ever again though, but if you can get $14000 from the government what the heck.
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