Our Goal: $1,000,000
Current Total:
$387,176Sponsoring Partnerships and Revitalizing Communities
SPARC (Sponsoring Partnerships & Revitalizing Communities)
SPARC is a special allocation of reduced rate funding made available to VHCDC to support homeownership among low-to-moderate income households. This funding can make it possible for us to reduce the interest rate on your mortgage by 1%, making your home purchase more affordable. When combined with VIDA and other funding resources, SPARC can help make your dream of home ownership even more attainable.
SPARC funds may only be utilized with Virginia Housing Bond Programs (FHA, USDA, VA and Conventional). Funds may be used for the purchase of your primary residence. Funds may NOT be used for mortgage refinancing, investment or commercial properties. See below for Household Income Limitations.
VHCDC clients enrolled in the Home Ownership Assistance Program (HOAP) who fully comply with the following may be eligible:
- Enrollees must be a member of an Underserved Market (See Adjusted Household Income Limits below).
- Enrollees must have completed the VHCDC First-Time Home Buyers College Course (15 hours) and have an unexpired certificate of completion. Virginia Housing certificate of completion is acceptable for SPARC only!
- Enrollees must have received housing counseling and completed ALL pre-purchase items on their work-plan.
- Enrollees must apply to a VHCDC / Virginia Housing approved lender. Referrals are issued and eligibility confirmed only by the VHCDC Housing Services Office.
- Enrollees must engage VHCDC In-House Service Partners for housing acquisition.
- Enrollees must be resident of and purchasing a home in the Commonwealth of Virginia.
| MSA/Metro Area | 1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
| Accomack County | $44,050 | $50,350 | $56,650 | $62,900 | $67,950 | $73,000 | $78,000 | $83,050 |
| Hampton Roads | $59,650 | $68,200 | $76,700 | $85,200 | $92,050 | $98,850 | $105,650 | $112,500 |
| Franklin City | $52,500 | $60,000 | $67,500 | $75,000 | $81,000 | $87,000 | $93,000 | $99,000 |
| Henrico County | $63,600 | $72,650 | $81,750 | $90,800 | $98,100 | $105,350 | $112,600 | $119,900 |
| Isle of Wight County | $59,650 | $68,200 | $76,700 | $85,200 | $92,050 | $98,850 | $105,650 | $112,500 |
| Northampton County | $47,850 | $54,650 | $61,500 | $68,300 | $73,800 | $79,250 | $84,700 | $90,200 |
| Petersburg | $63,600 | $72,650 | $81,750 | $90,800 | $98,100 | $105,350 | $112,600 | $119,900 |
| Pittsylvania County * | $43,750 | $50,000 | $56,250 | $62,500 | $67,500 | $72,500 | $77,500 | $82,500 |
| Richmond | $63,600 | $72,650 | $81,750 | $90,800 | $98,100 | $105,350 | $112,600 | $119,900 |
| Southampton County | $52,500 | $60,000 | $67,500 | $75,000 | $81,000 | $87,000 | $93,000 | $99,000 |
| Surry County | $53,950 | $61,650 | $69,350 | $77,050 | $83,250 | $89,400 | $95,550 | $101,750 |
| Northern VA/DC/MD | $74,800 | $85,450 | $96,150 | $106,800 | $115,350 | $123,900 | $132,450 | $141,000 |
* VHCDC Extended Program Service Area
NOTE TO LENDERS: VHCDC will not approve requests for non-VHCDC clients or clients who are otherwise ineligble. Please submit the following with each reservation request:
- Monthly PITI w/SPARC
- Monthly MIP w/SPARC
- Monthly COA/HOA
- Other Monthly Fee
- Verified Net Income
VHCDC will not approve requests for borrowers already under contract with less than 21 days to closing/settlement. Lenders should direct prospective borrowers to the HOAP program page < www.vhcdc.org/own > for information and enrollment.
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Updated: April 10, 2025