Student loans are keeping people from buying homes in San Antonio. Those pesky monthly payments can take a chunk out of your budget and make it hard to qualify for a loan and afford a home of your own. But, a new program from Lennar Homes could change all that.
Eagle Home Mortgage's Student Loan Debt Mortgage Program was created to help “pay off outstanding student loans—up to $13,000, depending on sales price,” the company said in a news releases announcing the new program. Borrowers “can direct up to 3% of the purchase price to pay their student loans when they buy a new home from Lennar.”
Lennar contributes that 3% toward the sales price on one of their new homes across the country, with a maximum sales price of $424,100. This purchasing help “does not increase the price of the home or add to the mortgage loan balance,” they said. But it does help those who have to student loan payments potentially do away with one of the main financial barriers to homeownership.
"Americans are more burdened than ever by student loans, with $1.3 trillion in outstanding student loans spread out among 42 million borrowers," Jimmy Timmons, President of Eagle Home Mortgage, said in Lennar’s news release announcing the program. "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."
With Lennar’s homes at Mission del Lago ranging from the $191,499s to the $242,499s, they easily fit into the program, offering individuals, families, and military new hope in becoming homeowners.
Lennar offers the all-new Barrington Collection and the Oak Knoll II Collection at Mission del Lago, providing a wide range of available home designs, with one- and two-story floorplans with 3 to 5 bedrooms, 2 to 3 bathrooms, and 1,459 to 3,003 square feet. These homes also include Lennar’s popular Everything’s Included (EI) program, which builds in an abundance of upgraded features in their new homes at no additional costs. At Mission del Lago, those EI features include 2” faux-wood blinds; upgraded carpet; ceiling fans at family room and master bedroom; designer tile; complete GE Energy Star® appliance package including microwave vented to exterior, 30” free-standing range, and multi-cycle dishwasher; 36” flat-panel, stained wall cabinets with crown molding; granite kitchen countertops with under-mount stainless steel sink; 3” x 6” Tumbled stone backsplash; and a landscape package with 6’ backyard cedar fencing, fully sodded yards, and a covered patio
For more information about buying homes in San Antonio from Lennar, visit Mission del Lago, the fastest-growing community in its price range—and one of the fastest-growing regardless of price range—in the city. The Mission del Lago community offers single-family residences from Lennar as well as leading national homebuilder DR Horton, plus an abundance of community amenities including its own sparkling pool and pavilion, two on-site parks, and a community golf course.
You can also see move-in ready homes in the community at the link below.