Loan Discounts to First-Time Homebuyers in Virginia

The Virginia Housing Development Authority (VHDA) announced earlier this month that it will be giving discounts to first-time homebuyers seeking homes below market value (i.e. foreclosures only) under the Sponsoring Partnerships and Revitalizing Communties (SPARC) program until June 30, 2010. Loans will be discounted as much as 0.5% and made available to individuals with incomes ranging between $21,550 to $82,150 (adjusted appropriately to family size).

Under the Neighborhood Stabilization Program (NSP), the current eligible homes in Loudoun County are in the Sterling and Sugarland Run neighborhoods with the zip code 20164.

For more information about the SPARC program, go to http://www.vhda.com or contact Karen Thorson with the Department of Family Services at (571) 258-3814.

Article Source: http://inter4.loudoun.gov/Default.aspx?tabid=2881