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

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