If you are interested in buying a fixer-upper and would like to learn more about a unique financing option, Pittsburgh Community Reinvestment Group (PCRG) is holding an information session on July 29 about the Community Acquisition and Rehabilitation Loan (CARL).
With only a 5% down payment and no private mortgage insurance, CARL allows borrowers to affordably buy and rehab a home with only one loan. The CARL program, currently in its pilot phase, is being offered in 25 census tracts in the City of Pittsburgh, and Central Northside is one of the targeted areas.
At the info session, you will learn the typical timeline for a borrower that uses CARL and the key underwriting criteria. The presentation will be followed by a questions and answer session. Attendees will receive detailed program guidelines, contacts for participating lenders, and other important take away materials.
The CARL Information Session will be held on Tuesday, July 29, from 6:00 until 7:00 pm at the PCRG facilities, located at 1901 Centre Avenue, Suite 200. Food will be provided. For more information, or to reserve your seat, contact Samuel Su at ssu@pcrg.org or by calling 412-391-6732, ext 210.
