- Borrowers’ qualifying incomes can be increased by $200 per month for single wage-earner households and $250 for those with two incomes, which could increase the home-buying power of a typical purchaser of a median-priced home by about $10,000.
- The downpayment requirement can be as low as $500.
- The home buyer can reduce or eliminate the expense and upkeep of a car.
“From the top of our national association to local chapters across the country, home builders are focused on improving housing for working families by enhancing the affordability of homes convenient to local jobs,” said Rick Judson, president of the Home Builders Association of North Carolina.
“Smart Commute increases affordability and encourages quality growth of housing developments close to public transportation,” he said.