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Program Allows Homebuyers to Knock Out Student Loan Debt

WBGZ Radio 4/26/2021 |
By Kevin Bessler - Illinois Radio Network
The Illinois Housing Development Authority has launched SmartBuy, a $25 million dollar state program to allow qualified homebuyers to get a mortgage and have up to $40,000 in student debt wiped out at the same time. Unlike other mortgage programs, the student loan is forgiven, and not wrapped into the home mortgage loan.
Lender Jason Accola with Wintrust Mortgage said the program is a “home run” for buyers.
“This is a great way for someone to be able to get out of their student loans,” Accola said
.
One recent buyer that Accola worked with found a $250,000 house and has $36,000 in student debt which he is paying off at $291 a month on a 20-year loan. Under the SmartBuy program, the debt will be forgiven if he lives in the home as his primary residence for three years. ....

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Illinois' SmartBuy helps home buyers wipe out up to $40,000 in student debt

Normal, IL, USA / www.cities929.com
Apr 23, 2021 11:41 AM
(The Center Square) – The Illinois Housing Development Authority has launched SmartBuy, a $25 million dollar state program to allow qualified homebuyers to get a mortgage and have up to $40,000 in student debt wiped out at the same time. Unlike other mortgage programs, the student loan is forgiven, and not wrapped into the home mortgage loan.
Lender Jason Accola with Wintrust Mortgage said the program is a “home run” for buyers.
“This is a great way for someone to be able to get out of their student loans,” Accola said.
One recent buyer that Accola worked with found a $250,000 house and has $36,000 in student debt which he is paying off at $291 a month on a 20-year loan. Under the SmartBuy program, the debt will be forgiven if he lives in the home as his primary residence for three years. ....

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This Is The Stuff - Francesca Battistelli Lyrics

This Is The Stuff - Francesca Battistelli Lyrics
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