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SPARC Project Timeline:
· August-September 2007: Begin to market program to full-time, permanent, local government employees; develop application package for distribution at work shops · October, 2007: Hold informational work shops for interested employees · November 15, 2007: Deadline for submitting completed First-Time Homebuyer Assessment Forms · November-December 2007: Homeowner Education classes · January 25, 2008: Completed documentation due 1. Certificate received upon completion of Homeowner Education Classes 2. Copy of Good Faith Estimate/Pre-qualification Letter from a mortgage lender, stating applicant minimally qualifies for an FHA, VA, VHDA or conventional mortgage · January-February 2008: Review applications and verify information; perform credit checks, etc.; inform successful applicants · February 29, 2008: Hold lottery, if number of applicants exceeds available units · March – June, 2008: Work with homebuyers as necessary toward closing |