Sponsoring Partnerships And Revitalizing Communities (SPARC)
Forecasted
Sponsoring Partnerships And Revitalizing Communities (SPARC) supports Virginia localities by helping residents obtain lower-interest-rate mortgages to expand homeownership and revitalize communities.
Funder: Virginia Housing
Due Dates (Anticipated): January 2027 (application deadline)
Funding Amounts: Funds for affordable Virginia Housing mortgages
Summary: SPARC helps Virginia localities expand homeownership and revitalize communities through lower-interest-rate mortgages.
Key Information: Localities apply for funds to help residents obtain Virginia Housing mortgages.
Description
Sponsoring Partnerships And Revitalizing Communities (SPARC) is a Virginia Housing program for localities working to revitalize communities, increase homeownership opportunities and serve rural communities. It provides funds for affordable Virginia Housing mortgages, helping residents obtain a lower-interest-rate mortgage.
Virginia Housing also provides grants to localities and housing partners creating or preserving affordable housing. Most of those grants are funded through REACH Virginia, which receives a significant portion of Virginia Housing’s net revenues and supports Homeownership, Rental and Community Outreach initiatives.
