SPARC (Sponsoring Partnerships & Revitalizing Communities)

Thank you for applying to the SPARC Program!

SPARC is a special allocation of reduced-rate funding made available to VHCDC to support homeownership among low-to-moderate income households. Through this initiative, we are able to reduce the interest rate on your mortgage by 1%, making your home purchase more affordable and potentially increasing your borrowing capacity.

VHCDC is proud to assist eligible applicants through this program. Please follow the instructions below to continue your application process.

All Borrowers must submit the following items

• HCE Disclosure Statement- Complete and Submit Online
• Housing Counseling Intake Form - Complete and Submit Online
• Digital & Voice Consent Agreement - Complete and Submit Online

Pre-Purchase Housing Education Certificate of Completion (Required)

• Click here to submit your Certificate of Completion (less than 2 years old)
• Click here to complete a first-time home buyer course and obtain a certificate.

Housing Counseling (Required)

• Click here to submit your Lettert of Counseling from a HUD certified Housing Counselor
• If you have NOT completed counseling with a HUD certified Housing Counselor you MUST complete and submit the following
  • Credit Report (Equifax, Experian, and TransUnion) - Complete and Submit Online
  • Personal Financial Statement (PFS) - Click here for instructions
  • Household Spending and Saving Plan - Complete only the column labeled "NOW"
  • Click here to email the Personal Financial Statement AND Household Spending and Saving Plan.

Lender Documentation (Required)

Notify your lender to submit your SPARC Reservation Request, along with the following items, to: sparc@vhcdc.org

• Monthly PITI w/SPARC
• Monthly MIP w/SPARC
• Monthly COA/HOA
• Other Monthly Fee
• Your Verified Net Income
  

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Please write us if you have any questions or concerns.

Updated: August 14, 2025