Hint of the week: There has been some confusion about the sequence of events in obtaining a $6,000 Home Run Grant. The following steps are outlined to clarify the sequence and emphasize the fact that the Home Run Grant Commitment must be received prior to closing.
Steps to obtain a Home Run Grant:
1. Buyer signs contract to purchase a newly-built, never-occupied home.
2. Buyer applies for mortgage loan and obtains written loan underwriting approval.
3. Buyer furnishes Certificate of Occupancy or Municipal Final Inspection to lender.
4. Lender submits a Home Run Grant Request to Utah Housing with the itemized documentation.
5. Lender receives from Utah Housing a written Home Run Grant Commitment authorizing the Grant for the specific Buyer.
6. The purchase closing is scheduled at a title company
7. As soon as closing documents have been signed, the title company faxes required documents to Utah Housing to request that a wire of $6,000 be sent to the closing
1. Buyer signs contract to purchase a newly-built, never-occupied home.
2. Buyer applies for mortgage loan and obtains written loan underwriting approval.
3. Buyer furnishes Certificate of Occupancy or Municipal Final Inspection to lender.
4. Lender submits a Home Run Grant Request to Utah Housing with the itemized documentation.
5. Lender receives from Utah Housing a written Home Run Grant Commitment authorizing the Grant for the specific Buyer.
6. The purchase closing is scheduled at a title company
7. As soon as closing documents have been signed, the title company faxes required documents to Utah Housing to request that a wire of $6,000 be sent to the closing
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