Urban League Receives $2.5 Million Grant to Help First-Time Homebuyers
A Norfolk nonprofit received $2.5 million to go towards a program that will provide below-market-rate first mortgage financing for first-time house buyers.
The Urban League of Hampton Roads (Norfolk, VA) supports financial self-reliance through housing and employment services. The group received this funding from the Virginia Housing Development Authority's Sponsoring Partnerships and Revitalizing Communities (SPARC) program, known as SPARC.
“We are excited to serve as valued community partners with Virginia Housing to help members of the Hampton Roads community become First-Time Homebuyers,” said Gil Bland, President and CEO of the Urban League of Hampton Roads. “Homeownership is a foundational step for families to build wealth."