Castle Rock CO | Lennar’s Student Loan Payoff Offer
Castle Rock, CO | Lennar’s Student Loan Payoff Offer
At the local level in Castle Rock CO buyers are looking to purchase their dream homes. Homes that are priced right and show well are going under contract quickly with multiple offers. Many people are drawn to Castle Rock due to its small town feel, award winning schools and great parks and trails.
Today I would like to talk to you about Lennar’s Student Loan Payoff Offer.
Millennials are on track to become the most educated generation in history. This means they are also the generation with the most student debt! Depending on the type of degree earned, as well as the prestige of the institution attended, there are some millennials who graduate college with what equates to a mortgage payment.
For those first-time buyers, and even some move-up buyers, who took advantage of the First-Time Homebuyer Tax Credit in 2008, there is an interesting program being introduced by Lennar Home Builders and Eagle Home Mortgage.
“Borrowers with Eagle Home Mortgage’s Student Loan Debt Mortgage Program can direct up to 3% of the purchase price (up to $13,000) to pay their student loans when they buy a new home from Lennar, one of the nation’s largest homebuilders. The contribution doesn’t directly increase the purchase price of the home or add to the balance of the loan.”
The Lennar Program allows borrowers, whose credit and income requirements qualify, to put down as low as 3% and have a maximum loan amount of $424,100. At the time of closing, Lennar contributes up to 3% to pay down student loans incurred while attending universities, colleges, community colleges, trade schools and other certificate-granting programs.
Jimmy Timmons, President of Eagle Home Mortgage, gave more context about the reasons behind the creation of the program,
“Americans are more burdened than ever by student loans, with $1.3 trillion in outstanding student loans spread out among 42 million borrowers.
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.”
According to the Wall Street Journal, “housing observers said other builders are likely to look to mimic the program, which could help lure more of the critical first-time-buyer segment into home purchases.”
Real Estate Bottom Line
If you are one of the many millennials who may have delayed purchasing your first home, or feel stuck in a house that no longer fits your needs, there are programs and options available to help you achieve your dream!
Source: KCM Marcy Ruberto Blog
To protect your interests and ensure you make the best possible decisions, it’s important you have a knowledgeable agent on your side who is an expert in the local real estate market. I know buying and selling is about more than just the transaction. It’s about your life and your dreams. It is about how you feel as a buyer when you walk through the front door or how you feel when you walk out the front door for the last time as a seller.
I am happy to provide you with the most updated strategic information for your home purchase in Castle Rock, Colorado.
To reach me, please call 303-638-6536 or email firstname.lastname@example.org
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