If you are a first time homebuyer and you have student loan debt, you might be in luck!
*You may even qualify if you are a veteran or are buying in a targeted area!)
As of 11/17/2016 The Maryland Mortgage Program just announced the opening of the SmartBuy program.
Some of the highlights...Buyer MUST: Qualify for a mortgage using the Maryland Mortgage Program Conventional 5% down program Purchase a home owned by the Department of Housing and Community Development (the Department) in the state of Maryland. You can find the properties listed by Cummings … (2 comments)
What is the Mortgage Credit Certificate (MCC), also called the Maryland Home Credit? It is a FEDERAL housing program geared to first time home buyers that allows for a federal tax credit on 25% of the mortgage interest paid EACH year for the LIFE of the LOAN!!
This is a DOLLAR for DOLLAR reduction against the borrower's annual federal tax liability. What does that mean? It means that a borrower with an MCC can get up to $2000 back on their Federal taxes every year they have the loan.
How do I get rid of student loan debt in Maryland?
;)
;)
;)
