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Rail News: Passenger Rail

DART part of Fannie Mae's Smart Commute program


Dallas Area Rapid Transit (DART), the city of Plano, Texas, and home mortgage lender Fannie Mae recently launched a Smart Commute™ initiative to provide prospective homebuyers financial incentives to purchase a home near a public transportation station.

Plano residents who purchase a home within a half mile of a DART rail station or quarter mile of a DART bus stop would qualify for a mortgage that factors in potential cost savings available to public transit users.

The initiative will enable lending partners to add $200 and $250 to the monthly qualifying income of a single wage-earner and two wage-earner household, respectively.

Contact Progressive Railroading editorial staff.

More News from 10/20/2004