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REHAB FOR RESALE

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HI Homebuying Guide

Helping Hazelwood Renters become Homeowners - at a price they can afford!

The best way to stake your claim in Hazelwood is to become a homeowner, then when property values rise, your home will be worth more and more. You can build wealth by owning a home! 

         Hazelwood Initiative has partnered with Rebuilding Together Pittsburgh and the City’s Urban Redevelopment Authority (URA) to purchase Hazelwood houses that were vacant and deteriorating. HI then contracts with Rebuilding Together to renovate the houses to high standards, featuring all new wiring, HVAC (high efficiency furnaces), bathrooms, kitchens, appliances, and much more.


        Together with special first mortgages, zero percent second mortgages can make the house even more affordable. In most cases, low-to-moderate income families can buy a home and live there for under $500/month, less than most Hazelwood residents pay to rent.


        Hazelwood Initiative sees Rehab for Resale as a part of its strategy to mitigate the negative effects of gentrification that other Pittsburgh neighborhoods are experiencing. Investing NOW in Hazelwood’s existing residents will allow them to build wealth as revitalization continues. HI has already completed a number of these houses and more are underway. If you want to explore what is involved in owning your own house, call our Director of Real Estate, Dave Brewton at (412) 295-4787.




HOUSES AVAILABLE NOW:

124 Mansion St

This house, centrally located on a quiet street just around the corner from Second Ave, features a lovely flat backyard, two bedrooms, and has been completely renovated for comfort and energy efficiency. Renovations include brand new kitchen, bath, furnace, windows, siding and exterior doors. For sale for $69,000 to a qualified buyer! A 0% second mortgage with no payments as long as you live in the house is available for up to $34,000 to make the payments affordable.

QUALIFYING

 Current Hazelwood renters are encouraged to apply! Households earning 80% or less of Pittsburgh's area median income are eligible. You must have enough income to afford the mortgage payments, good (or repairable) credit, and the savings to pay for a down payment and required closing costs. We can explain the details in person, so if you're not sure, give us a call. 

ASSISTANCE

When you buy a home through Hazelwood Initiative, we can provide the following types of assistance:

1. Free (required) credit counseling to get your score where it needs to be

2. Referrals to supportive local banks who can provide fair mortgage rates and closing cost assistance grants

3. Referrals to zero percent second mortgages that can reduce your payments by $200 to $300 a month.


CONTACT DAVID BREWTON FOR MORE INFORMATION