atom
The Virginia Housing Development Authority (VHDA) announced the availability of below market rate loans under the SPARC program (Sponsoring Partnerships and Revitalizing Communities) for first-time homebuyers who meet VHDA eligibility requirements. The funds, available through June 30, 2010 or until expended, are administered by the Loudoun County Department of Family Services. Sales price and income limits apply.
Discounts on VHDA first-trust loans will be available at one-half percent (1/2%) below VHDA's loan program rates and available to homebuyers with incomes from $21,550 to $82,150 (adjusted by family size; families of five or more may qualify at higher income levels). These loans are targeted only to households purchasing a foreclosed home (short sales not eligible) in one of the Neighborhood Stabilization Program (NSP) areas. Current eligible areas are Sterling and Sugarland Run with a zip code of 20164. A map of the eligible area can be found here.
More information about SPARC is available online from VHDA at http://www.vhda.com/ or by contacting one of the VHDA-approved lenders who will be able to explain more about this program. Only VHDA-approved lenders can offer SPARC funding.
For information, contact Karen Thorson, Department of Family Services, at 571-258-3814 or karen.thorson@loudoun.gov.
Filed in Advocacy=> Announcements, News and Updates
Hi, I should really thank you for this post, because what I have noticed is that it’s simple to read and easy to understand and this is what generally I look for. Thank you very much.
Nikhel - Thank you for your comment on the post. We're pleased you found the information useful.