The Location Efficient Mortgage
Jonathan B.
Oct 11, 2007

Finally, some sanity in the home finance racket. Location-efficient mortgages take into account the amount of money you don't spend on a car. LEM mortgages are now available in three Apartment Therapy cities: LA, San Francisco, and Chicago, plus Seattle. In Los Angeles, this can make a big difference. "For example, a household making $50,000 a year can qualify for a $140,000 home in a low-density suburb, but a $197,00 home in a transit-accessible, urban-style community."

We especially liked the Transit Myths About Los Angeles County, which points out that cities can and do change... did you know that LA once had 6,000 streetcars?

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