Smart Commute Plus |
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 Location, Location, Location...
When it comes to real estate, location has always been important. Now with Columbus' Smart Commute Plus™ Initiative, that's never been truer. Choose a property within one-quarter mile of any Central Ohio Transit Authority (COTA) bus stop and you may qualify for the added benefits of getting a home mortgage through the Smart Commute Plus Initiative.
Smart Commute Plus – The Smart Way to Go
The Smart Commute Plus Initiative can help home buyers purchase a home near COTA service, the Smart Commute Plus Initiative recognizes that you can save on commuting expenses and have more disposable income to pay your housing expenses.
The Smart Commute Plus Initiative can help you get more home for your money. Riding COTA regularly can help you reduce or even eliminate the expense of owning and maintaining a vehicle.
But there's even more – The Smart Commute Plus Initiative Advantage
Properties displaying the Smart Commute Plus Initiative logo may also qualify you for:
• Down payment assistance
• Property tax incentives in specified Columbus neighborhoods
• Special financing for specified new homes
To see all of the incentives and assistance available with Smart Commute Plus click here!
Get on Board the American Dream!
Mortgages under the Smart Commute Plus Initiative offer:
- Low down payment – Many borrowers will need only $500 of their own money to purchase the home of their dreams.
- Flexible qualifying guidelines – Include features to help teachers, police and firefighters buy a home.
- Savings allowance – to account for the savings you would realize by using COTA, $250 for a two-income household and $200 for a single income household will be factored into your monthly income for loan qualification purposes.
 Save Even More!
Free COTA Pass for a Year!
Borrowers who purchase homes under the Smart Commute Plus Initiative will also receive a free COTA transit pass for one full year. Or households with 2 working family members may choose 2 free passes for 6 months. This $480 benefit will provide unlimited transportation on all COTA routes throughout the total system and help you to get more home for your money.
"Columbus is the best place to live, work and raise a family. Now it's even better, with Smart Commute Plus to help you buy a home and save money on transportation."
Columbus Mayor Michael B.Coleman
How to Qualify
In addition to choosing a home within one-quarter mile of a COTA bus stop, households can own no more than two vehicles. Borrowers will be evaluated on the basis of:
• Credit and income history
• Employment history and stability
• Debt-to-income ratio calculations
First-time homebuyers are encouraged to participate in free homebuyer education provided by Columbus Housing Partnership.
The Smart Commute Plus Initiative is a partnership between Central Ohio Transit Authority and the City of Columbus' Partnership For America's 21st Century City. The Initiative promotes smart growth principles of affordable housing and reduced traffic congestion by linking housing choice to public transit. Other partners include the Columbus Board of Realtors and Columbus Housing Partnership.
How do I get Started?
Mortgage Loans under the Smart Commute Plus Initiative are available in Columbus and Franklin County through:
Huntington Mortgage Group
HM1211
7575 Huntington Park Drive
Columbus, OH 43235
Contact: Loretta King 614-480-0489
National City Mortgage
4661 East Main Street
Columbus, OH 43213
Contact: Paul Busta 614-856-8754
Sky Bank
1600 Bethel Road
Columbus, Ohio 43220
Contact: Mark Spangler 614-545-4148
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