Smart Commute Home Ownership Initiative

What does riding the bus have to do with buying a home? More than you might think, thanks to the Smart Commute Initiative from Fannie Mae.

The Smart Commute Initiative can increase the home-buying power of residents who purchase a house within a quarter-mile of a MATBUS bus stop. The initiative recognizes that homeowners who take the bus instead of driving can reduce or even eliminate the expense of owning and maintaining a vehicle.

Participating lenders State Bank & Trust, Bremer Bank and Alerus Financial, N.A. will add a portion of the potential transportation savings to borrowers’ qualifying income when they apply for a mortgage loan—up to $250 a month. They will also offer buyers low downpayments.

As an added bonus, MATBUS will give Smart Commute homebuyers six months of free bus rides for one person in the home.

Smart Commute mortgages are available to residents of Fargo, West Fargo and Moorhead. Our Smart Commute map (requires Adobe Reader) shows areas of these cities that are eligible for incentives.

Smart Commute Brochure (requires Adobe Reader)

To learn more about this program, contact a participating lender:

• State Bank & Trust : 701.298.1540

• Bremer Bank: 701.492.2603

• Alerus Financial, N.A.: 701.280.5000