This is a great year to lose your landlord and become a West Valley City first time homeowner. Salt Lake City Beehive Credit Union offers great rates on mortgage loans and there are plenty of affordable Sugarhouse and Holladay homes for sale. Your monthly payment may end up being lower than your current rent. And there is more good news for first time Salt Lake City home buyers:

As part of the American Recovery and Reinvestment Act of 2009, qualified first time home buyers can receive a tax credit of up to $8,000!

The Internal Revenue Service website lists the qualifications:

• Applies to Salt Lake City purchases that close after April 8, 2008, and before Dec. 1, 2009.
• Applies only to homes used as a taxpayer’s principal residence in Salt Lake City or other cities.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed. (Read more about the First Time Home Buyer Credit)

Salt Lake City Beehive Credit Union offers a variety of Utah mortgage loans. Fixed-rate, adjustable-rate, balloon, interest-only and reverse mortgages are among the most common types of home loans. If you are ready to buy or just want to talk about your situation, call a loan specialist today at 801-484-8811.