Housing Counselor’s Corner: SPARC Financing Available Via Piedmont Housing Alliance
Piedmont Housing Alliance continues to be an administrator of Virginia Housing’s SPARC, Sponsoring Partnerships & Revitalizing Communities, program. The program provides customized loans for first-time homebuyers and allows us to reduce mortgage interest rates by 1% for eligible individuals. An interest rate reduction can save recipients thousands of dollars over their loan’s life. Lower interest rates also increase homebuyers’ purchasing power when considering options for a new home.
Virginia Housing has allocated $18,000,000 to Piedmont Housing Alliance in order to create affordable housing opportunities throughout Planning District 10. Planning District 10 includes the counties of Albemarle, Greene, Fluvanna, Louisa, Nelson and the city of Charlottesville.
Using this grant, we are able to design personalized programs that are not offered by VHDA or private lending services. Piedmont combines SPARC with other local and state funding to maximize financial benefits for our residents.
For more information, please contact our a member of housing counseling team at email@example.com.