'Smart Commute' Incentives
An innovative public-private effort in Portland incentivizes residents to purchase homes near public transportation.
"The Portland Regional Smart Commute Initiative allows qualified buyers to convert the savings from using public transportation into additional borrowing power for a home mortgage. For loan qualification purposes, participating lenders will be able to 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-earners households."
Thanks to transport-policy listserv
Full Story:
Published on Tuesday, October 12, 2004 in
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