If you are swimming in student loan debt, fear not! Maryland’s Department of Housing and Community Development has made it easy to pay off your student debt when you purchase a home.
With the Maryland SmartBuy 3.0 program, if you currently have at least $1,000 dollars in student loan debt, you are eligible to pay-off your student loan debt with up to 15% of your home’s purchase price. This financing program is a great opportunity for many first-time home buyers who might not have considered purchasing a home before. Student debt can be crippling and with this relief, it creates opportunities for many.
This program allows borrowers to pay off outstanding student debt with a maximum payoff of $30,000. All Maryland Mortgage Program eligibility requirements must be fulfilled in order to receive the financial assistance.
Direct Mortgage Loans is an approved Maryland SmartBuy Lender. To learn more about this program, contact one of our team members today!