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 (underserved) 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.
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 Limits.
VHCDC will award SPARC funds, subject to availability, to the following borrowers:
- Must be a member of an Underserved Market (See Adjusted Household Income Limits below)
- Must have completed a first-time home buyer training course
- Course must be from a HUD approved Local Housing Counseling Agency
- Virginia Housing Certificate of Completion is acceptable
- Submit a valid Certificate of Completion to VHCDC
- If not yet trained, borrower will be registered for a VHCDC course (15 hours) or directed to complete a Virginia Housing online course
- Must have received pre-purchase housing counseling
- Counseling must be from a HUD-approved Local Housing Counseling Agency
- All Work-Plan items must be completed
- Submit a Letter of Counseling to VHCDC
- If not yet counseled, borrower will be scheduled with a VHCDC Housing Counselor
- Must be a resident of Virginia and purchasing a home within Virginia
2025 Adjusted Household Income Limits
| 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
The processing fee for SPARC funding is $49.95 per household, except for HOAP enrollees. The fee is Non-Refundable.
NOTE TO LENDERS: VHCDC will not approve requests for borrowers who do not meet the above criteria. 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
- SPARC Lock Form w/Lock Date & Closing Date
---
Revised: Septemebr 5, 2025