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Transit supportive home loans: Theory, application, and prospects for smart growth

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  • Kevin J. Krizek

Abstract

This article discusses mortgage lending programs aimed at lower‐income buyers looking to purchase homes in compact, transit‐accessible neighborhoods. Unlike traditional lending formulas, the transit supportive home loans consider the transportation cost savings from living in transit‐friendly neighborhoods and applies these savings to a larger mortgage calculation. However, little has been published positioning the concept against the broader goals of smart growth, describing the application of the product, or commenting on its prospects. The first part of this article therefore draws heavily from the literature on smart growth to present the theoretical foundations of the transit supportive home loans and how they address growth management program goals. The second part describes the application of the concept, and the third examines the prospects for this tool and briefly comments on circumstances likely to bedevil its widespread adoption or overall impact.

Suggested Citation

  • Kevin J. Krizek, 2003. "Transit supportive home loans: Theory, application, and prospects for smart growth," Housing Policy Debate, Taylor & Francis Journals, vol. 14(4), pages 657-677, January.
    • Handle: RePEc:taf:houspd:v:14:y:2003:i:4:p:657-677
    DOI: 10.1080/10511482.2003.9521490
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    Cited by:

    1. Cervero, Robert, 2006. "Transit Oriented Development’s Ridership Bonus: A Product of Self-Selection and Public Policies," University of California Transportation Center, Working Papers qt8jn8g0hc, University of California Transportation Center.
    2. Robert Cervero, 2007. "Transit-Oriented Development's Ridership Bonus: A Product of Self-Selection and Public Policies," Environment and Planning A, , vol. 39(9), pages 2068-2085, September.
    3. Kapatsila, Bogdan & Collins, Damian & Grisé, Emily, 2024. "Assessing mode-specific transport affordability in a car-centric city," Journal of Transport Geography, Elsevier, vol. 114(C).

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