Loudoun County administers several loan assistance programs for people purchasing a home in Loudoun County.

Down Payment/Closing Cost Assistance Program

First-time homebuyers purchasing a home either through the Affordable Dwelling Unit (ADU) program or purchasing an existing market value home can borrow up to 10% of the sales price or $25,000, whichever is less, at 5% interest. This loan (used for the down payment and closing costs) is in the form of a second trust, payable over a thirty (30) year period with the first three (3) years of payments deferred and interest free.

Funding is limited and available on a first come/first served basis. Applicants must currently live and/or work in Loudoun County for a minimum of 6 months. Household incomes must fall within 30% to 70% of the Area Median Income. Current eligible income range is between $30,800 through $71,900, regardless of family size. For additional information or to apply for the loan program, please call 571-258-3814.

Sponsoring Partnerships and Revitalizing Communities (SPARC)

The Virginia Housing Development Authority (VHDA) annually allocates funds to Loudoun County for a below market rate home loan program. The SPARC program provides a one-half percent (1/2%) to one (1%) percent interest rate reduction below VHDA first trust loan program rates.  Applicants must be first-time homebuyers and meet VHDA’s standard eligibility requirements.

Note: Funding for the following loan program is limited and available on a first come/first served basis.

SPARC for Foreclosed Homes

SPARC for Foreclosed Homes Program is available in limited areas of the County for first-time homebuyers with incomes falling between 30% and 80% of the Area Median Income (adjusted by family size).  For additional information or to apply for the loan program, please call 571-258-3814.