More than $3 million has already been spoken for during the first week of Utah's new, $20,000 first-time homebuyer assistance program.
on July 25, since then 45 Utahns have already completed a purchase of a newly built home, townhome, or condo totaling $900,000 in assistance loans.
In order to make a reservation, potential buyers don't need to already have a new home, townhome or condo selected or under contract. They just need to be pre-approved by a participating lender. To qualify for the program, the newly built residential unit must be priced at or below $450,000 and recipients must be a resident of Utah for at least one year when they close on the loan.
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