New Mortgage Program Helps Pay Off Student Loan Debt

Sep 27, 2017

Eagle Home Mortgage, a division of the home builder Lennar Corp., is now offering a program designed to help borrowers address their student loan debt

Eagle Home Mortgage, a division of the home builder Lennar Corp., is now offering a program designed to help borrowers address their student loan debt.

With the company’s new Student Loan Debt Mortgage Program, borrowers are able to channel up to three percent of the purchase price on a Lennar home to pay their student loans. Lennar will contribute the three percent, and the home price and mortgage balance is not affected. Student loans up to $13,000 can be considered, and the maximum loan amount covered in the program is $424,000.

"Americans are more burdened than ever by student loans, with $1.3 trillion in outstanding student loans spread out among 42 million borrowers," said Jimmy Timmons, President of Eagle Home Mortgage. "Particularly with Millennial buyers, people who want to buy a home of their own are not feeling as though they can move forward. Our program is designed to relieve some of that burden and remove that barrier to owning a home."

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Phil Hall

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Sep 27, 2017

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