City of Harrisonburg SPARC Program

City of Harrisonburg SPARC Program is down payment assistance for homebuyers in Harrisonburg, Virginia, administered by City of Harrisonburg (Housing Coordinator) via Virginia Housing SPARC allocation. Through Virginia Housing's SPARC program, the City of Harrisonburg's allocation allows approved lenders to provide a 1% mortgage interest rate reduction to eligible first-time homebuyers purchasing within the City of Harrisonburg. The reduction increases purchasing power and can save buyers tens of thousands of dollars over the life of the loan. Buyers must be income-eligible under current Virginia Housing limits and complete homebuyer education. 1% mortgage interest rate reduction. Increased purchasing power. Significant lifetime interest savings. Free homebuyer education and counseling. Funding comes from Virginia Housing Sponsoring Partnerships and Revitalizing Communities (SPARC) allocation to the City of Harrisonburg.

City of Harrisonburg SPARC Program is down payment assistance and is repaid under the terms set by City of Harrisonburg (Housing Coordinator) via Virginia Housing SPARC allocation. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Harrisonburg SPARC Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Free homebuyer education and homeownership counseling via Virginia Housing-approved counselors. Residency requirement: Property must be located in the City of Harrisonburg. Buyers must use a Virginia Housing-approved lender; City must approve and execute each SPARC reservation form before the lender reserves funds; required documents include Virginia Housing Certificate of Counseling, SPARC Lock Reservation Form, ratified sales contract, and Uniform Residential Loan Application. Program effective 11/1/24, revised 2/28/25.

City of Harrisonburg SPARC Program sets its income limit as follows: Virginia Housing limits: Standard/Bond Programs $100,000 (1-2 people) / $115,000 (3+ people); Down Payment/Closing Cost Assistance Grant Programs $80,000 (1-2 people) / $92,000 (3+ people). The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Harrisonburg SPARC Program caps the purchase price at $450,000. New construction is eligible.

City of Harrisonburg SPARC Program serves homebuyers purchasing in Harrisonburg, Virginia. The program targets specific areas: City of Harrisonburg limits only.

Applications for City of Harrisonburg SPARC Program go through City of Harrisonburg (Housing Coordinator) via Virginia Housing SPARC allocation, which publishes the current terms and the application steps on its own site. Funds are reserved through Lender reserves SPARC funds after City approves and executes each reservation form; funds limited, first-come, first-served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.