What is the Smart CommuteTM Initiative?
The Smart Commute Initiative rewards home buyers who purchase a house near public transit. It recognizes that they can save a significant amount of money on commuting expenses by relying on public transit rather than their cars — to commute. The Smart Commute Initiative recognizes a portion of the potential savings and adds it to the borrowers qualifying income to help increase housing affordability. The Smart Commute Initiative supports Fannie Maes Expanded American Dream Commitment to support smart “fair growth” principles that call for revitalizing communities using existing infrastructure, building a variety of housing types and densities for people of all ages and incomes, developing housing near mass transit, and building “green” to protect the environment and lower home costs.
