HR2
The first Home Run Program, which ended in June 2009, provided a $6,000 grant to eligible home buyers. Home Run 2 provides a $4,000 grant. the first program required that homes be ready for occupancy upon closing. Home Run 2 buyers have tow additional options. They can purchase a home that is contracted for construction or partially finished and contracted for completion. Homes that have been previously occupied do not qualify.
The Home Run 2 Grant is a mortgage assistance program that grants $4,000 to home buyers who wish to: (A) have a new home constructed, (B) have a partially-constructed home completed, or (C) purchase a newly-constructed home. It must be the primary residence of the home buyer. Homes that have been previously occupied do not qualify.
All Home Run Grant commitment requests must be received on or before November 30, 2009. Incomplete request packages will not be considered for commitments.
One other advantage to obtaining this grant is that you do not have to be a first time home buyer. Home Run 2 Grants are available to all home buyers who meet the income restrictions of $75,000 for singles, $150,000 for couples and, if more than one single person takes title, the $75,000 limit applies to each such single person.
The $4,000 Home Run 2 Grant can be combined with the $8,000 federal tax credit! If a home buyer is a first-time home buyer and meets the independent criteria of both the federal and Home Run 2 Grant programs, they may take advantage of both. The $4,000 Home Run 2 Grant is available to both those who are first-time home buyers as well as those who previously owned a home. The $8,000 federal tax credit is available only to first-time home buyers.
***Remember, both the Home Run 2 Grant, and the Federal Tax Credit expire NOVEMBER 30th, 2009.***
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