Equity Now – How to Use Federal First Time Buyer Tax Credit as Down Payment « Utah Homes for Sale – Real Estate Market Conditions

• Equity Now – How to Use Federal First Time Buyer Tax Credit as Down Payment « Utah Homes for Sale – Real Estate Market Conditions

  Equity Now Program Allows First Time Home Buyers to effectively use the $8,000 first time buyer tax credit towards closing costs.

  tags: equity now, first time buyer, tax credit

  • The new “Equity Now” program essentially allows first time buyers to get a small Utah Housing Loan that will be paid back using the $8,000 in grant money.

    The Equity Now loan isn’t limited to just $8,000 either. It can actually be used for up to 6% of the amount of the primary loan. It is really just a second mortgage and has almost nothing to do with the tax credit.

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