Is Homeownership One of Your 2016 Goals?

13 Jan

 

Is homeownership one of your 2016 goals? The Community Acquisition and Rehabilitation Loan (CARL) could help make that possible. With only a 5% down payment* and  no private mortgage insurance, CARL allows you to affordably buy and rehab the home of your dreams with one loan.

Don’t miss the CARL Info Session on Wednesday, January 27 from 6-7PM at PCRG’s office (1901 Centre Ave., Suite 200, Pittsburgh, PA 15219).

Food will be provided. Please RSVP to Samuel Su via phone (412-391-6732 ext. 210) or email (ssu@pcrg.org) so that we can provide enough food and handouts for everyone.

At the info session, we will provide attendees with:

  • the typical timeline for a CARL borrower,
  • the key underwriting criteria and program guidelines,
  • available grant programs that can combine with CARL,
  • contacts for participating lenders, and
  • other helpful tips to go through this process.

Following the presentation, we will answer questions from all the attendees, and we are also happy to stay after to discuss things on a one-on-one basis.

Hope to see you there!

*The borrower will have at least 5% plus closing costs in a down payment. The borrower can have up to 6% of seller’s assist toward the purchase price of the home, but the borrower must have at least 1.5% invested in the project. The maximum loan amount is $300,000; but if the loan amount is greater than $233,000, the borrower will be required to provide equity greater than 5%.