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					SMART COMMUTE INITIATIVE
When You Don’t Have to Drive!

The Smart Commute Initiative is a special Fanny Mae program offered through Smart Commute Partner Lenders and NJ TRANSIT. When you purchase a home near public transportation through a participating lender, they will complete an application to NJ TRANSIT to provide you with a free month of commuting from your new home. The Smart Commute Initiative gives prospective home- buyers the opportunity to qualify for a larger mortgage by recognizing the savings gained from using public transportation. The Smart Commute Initiative is a regional and local partnership that includes Smart Commute Partners in New Jersey and NJ TRANSIT. Mortgage Financing Benefits: ■ Borrowers could increase their home-buying power when they purchase an owner-occupied residential property within walking distance of transit services in select New Jersey communities. ■ Offers homebuyers more flexible qualifying guidelines ■ Down payments as low as 3% NJ TRANIST Benefits: ■ NJ TRANSIT will provide up to two free rail, bus or light rail monthly passes per household for the first full month of home ownership. Do you qualify for the Smart Commute Initiative? ■ Property must be located within a designated “Smart Commute area”(See your Smart Commute Partner lender or real estate professional for details) ■ Credit and income history ■ Employment history and stability ■ Borrowers must certify that they own two vehicles or less

Contact your real estate professional or these Smart Commute Partners to apply for a mortgage under the Smart Commute Initiative: • Aurora Financial Group (800) 648-0345, Gino Brown • Countrywide Home Loans (888) 837-6855, Kathy Brewer • Homestar Mortgage Services (201) 939-3020 Sharon Dellay • GMAC Mortgage (888) 921-4622 Kathy Brewer • Integrity Home Funding (888) 800-0973 Gene Menechino • ISB Mortgage Company (973) 376-8100 Russell Tucker • Murray Financial Assoc. (800) 322-8083 Dorothy Shields • Rahway Saving Institution (800) 490-2639 Tina Campagna • U.S. Mortgage (973) 244-7100, X-1117 Brian McGrath • Valley National Bank (888) 235-4980 Randy Urciuoli • NJ Housing Mortgage Financing Agency (800) NJ – House or (800) 654-6873 For information on Fannie Mae’s affordable mortgage products, consumers may call Fannie Mae’s Consumer Resource Center at (800) 7FANNIE or (800) 732-6643.


				
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Description: The Smart Commute Initiative is a special Fanny Mae program offered through Smart Commute Partner Lenders and NJ TRANSIT. When you purchase a home near public transportation through a participating lender, they will complete an application to NJ TRANSIT to provide you with a free month of commuting from your new home.