It's with a subsidiary of Lennar, Eagle Home Loans. Up to 13k of your student debt can be paid off, but of course, you have to buy a new Lennar home and use the Eagle lender.
Fannie Mae already has a student-loan cash out program, but home builder Lennar is getting on the bandwagon!
And now for the fine print on Lennars program:
According to Lennar, the homebuilder will contribute up to 3% of the purchase price of a new home to be used to pay down student loans incurred while attending universities, colleges, community colleges, trade schools and other certificate-granting programs.
The program is not intended for parents who took out loans to finance a their child’s education, Lennar said.
The program’s maximum loan amount is $424,100, but Lennar said that in addition to the 3% contribution to student loan balances, buyers may also be eligible for other incentives – such as credits toward closing costs.
According to Eagle Home Mortgage, the Student Loan Debt Mortgage Program is being offered on a trial basis with new Lennar homes nationwide.
I bring this information to you so that you don't think you have zero options,
if you feel saddled with student debt.
Don't just do on-line searching to try and figure out your home buying options.
Talk to me, talk to a lender, ask questions. We do this a lot, we do this in real life.
We are here to answer your questions, bring up other options, inform.
Lauren@KeepYourWitz.com
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