Low-Interest Mortgage Program (SPARC)

This program provides eligible moderate-income first-time homebuyers with a 1% interest rate reduction on Virginia Housing mortgages for home purchases in Arlington County.

Funds are limited and available on a FIRST-COME, FIRST-SERVED BASIS. 

Applications must be submitted by a Virginia Housing approved lender. Buyers must meet all eligibility and documentation requirements at the time of application.

SPARC Eligibility Criteria(PDF, 663KB)

Eligibility Requirements

• Property must be located in Arlington County
• First-time homebuyer or homebuyer who has not owned a home for at least three (3) years (includes all household members)
• Purchase price may not exceed $665,000
• Completion of the First-Time Homebuyer class AND Financial Counseling offered through Virginia Housing
• Income limits apply: SPARC Eligibility Criteria(PDF, 663KB) 

For Lenders

Lenders using the SPARC program must submit- via email- required documents found below. All documents below must be submitted to the Arlington Housing Division for SPARC consideration. The Housing Division will respond to requests for SPARC approval within 48 business hours.

• (DOCX, 46KB)SPARC Document Checklist(DOCX, 47KB)
• SPARC Counseling Certificate-Fillable(PDF, 154KB)
• SPARC Lock Form(PDF, 499KB)
• Household Income Form(DOC, 2MB)  
• Home Buyer Assessment Form
• Ratified Sales Contract
• Uniform Residential Application for SPARC applicant