The Community Acquisition and Rehabilitation Loan (CARL) allows borrowers to obtain mortgage financing and home rehabilitation financing in one loan. For more detail on the CARL Program, please review the following documents:

CARL Summary for Borrowers.pdf provides a summary of the CARL program.

• CARL Borrower Example.pdf explains the typical step-by-step timeline for a borrower that participates in the CARL program.

• CARL Term Sheet & Guidelines_Final.pdf explains the underwriting criteria for CARL borrowers. This is what the lender will generally use to first pre-qualify you.

• CARL Eligible Areas.pdf show the list of 57 eligible census tracts.  Please keep in mind that the eligible areas are the census tracts listed not the entire neighborhood. For example, CARL is eligible in census tract 1914, which is within Mt. Washington, but CARL is not eligible throughout the entire neighborhood of Mt. Washington.

The CARL program is offered in 57 census tracts in the City of Pittsburgh.  To find out the census tract for a property you have identified, you can go to: bit.ly/CensusTracts > select “2014″ in the drop down menu > enter the address of the property and click “search” > and then click “Census Demographic Data” on the left.  The Census Tract will be shown on the left next to “Tract Code” and on the map within the Census Tract boundaries (the red dot indicates your property location, and the blue lines immediately surrounding the red dot indicates the Census Tract boundaries).

• CARL Program Contacts.pdf shows the contact information for the Participating Lenders, the Urban Redevelopment Authority, and Pittsburgh Community Reinvestment Group.  You will also find a list of eligible contractors for the CARL program.  If you have a contractor that you would like to use, please have the contractor request an application from PCRG or the Urban Redevelopment Authority to participate in the program.

• The interest rate is based on a Fannie Mae 30-year mortgage with a 60-day commit rate plus 1%. The rate can be found bit.ly/30yr60day.

• For a list of frequently asked questions, visit our CARL FAQ page.

If you have any questions about the CARL program, please contact Alyssa Lyon, PCRG’s Manager of Member Engagement, at alyon@pcrg.org or (412) 391 -6732 ext. 209.