|
The Smart CommuteTM Initiative recognizes that homeowners who spend less on commuting expenses can have more disposable income for housing expenses. It rewards you for choosing a home located one-quarter mile from a public bus stop or one-half mile from a public rail station.
Advantages of Purchasing a Home through the Smart CommuteTM Initiative
 |
For loan qualification purposes, participating lenders will add a portion of the potential transportation savings to borrowers' qualifying income - an addition of $200 per month for one wage-earner households and $250 per month for two wage-earner households - which could increase the home-buying power of a typical purchaser of a median-priced home by approximately $10,000 |
|
Requires down payment of only 3 percent of purchase price of home |
|
Hassle-free commute |
|
Reduce or eliminate the expense and upkeep of a personal vehicle |
|
Promote smart growth, conserve natural resources and reduce vehicular emissions and traffic congestion |
| 
