Home builder lures millennials with offer to help pay their student loans

Consumer advocates worry such programs tend to drive up prices

By Laura Kusisto | The Wall Street Journal

Student loan debt has been an obstacle for many potential home buyers. Now Lennar Corp. LEN 0.50% is trying to do something about it.

A subsidiary called Eagle Home Mortgage plans to introduce on Tuesday a program under which it will pay off a significant chunk of the student loan of a borrower who purchases a home from Miami-based Lennar.

Housing experts 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.

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