The Virginia Housing
Development Authority (VHDA) provides, through the
Sponsoring Partnerships And Revitalizing Communities (SPARC)
program, grant monies to local governments to fund permanent
home mortgages to qualified homebuyers at advantageous
interest rates, making home-buying more affordable.
Potential homebuyers must
complete an application and must meet criteria established
by VHDA and the local government in order to be eligible for
these mortgage funds.
On July 28, 2008, VHDA
awarded Fauquier County $1,000,000 in SPARC funding for its
affordable housing program.