New Massachusetts mortgage program encourages mass transit use by offering riders of commuter bus, boat, and rail services to qualify for home loans with no down payment.
"The unusual partnership between the MBTA, MassHousing and 21 area banks aims to 'encourage and reward mass transit use' while promoting home ownership among people who have been unable to save for a down payment, said Thomas R. Gleason, executive director of the Massachusetts Housing Finance Agency. Gleason said the program is modeled on similar ones in other states that encourage people to live near mass transit to help reduce urban sprawl, traffic congestion and air pollution."
Thanks to Jim Barrows
FULL STORY: Leave car at home, get new home: Mortgages focus on mass transit user
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