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Rail News: Passenger Rail

Delaware Area Rapid Transit's program provides homebuyers an incentive to live near stations


Delaware Area Rapid Transit (DART) recently launched a program offering a financial incentive to people who purchase a home near the agency’s four train stations and 2,500 bus stops.

Fannie Mae’s Smart Commute Program enables homebuyers who purchase a home within three-quarters of a mile of a station or bus stop to increase their qualified income by up to $3,000 a year.

Citizens Bank of Delaware plans to originate mortgage loans under the program; Fannie Mae would purchase eligible loans.

Contact Progressive Railroading editorial staff.

More News from 4/11/2003