Location Efficient Mortgages are available to individuals purchasing more expensive homes in areas where with efficient public transportation systems. These loans take into account monies saved on the expenses related to owning or leasing automobiles.
 

While LEM loans will allow a purchaser to buy a house that is more expensive than they would qualify for using a traditional mortgage, it does not lower the monthly payment.
 

LEM loans are only available in certain markets:
 

·         Chicago, IL

·         Los Angeles, CA

·         San Francisco, CA

·         Seattle, WA