Student Loan Forgiveness for First Time Buyers
Maryland has just made a great first time buyer program even better. Smart Buy 2.0 is HERE and even better than the original Smart Buy and even the original Smart Buy 2.0!
If you are a first time buyer and you have student loan debt, you may be eligble to buy a home and have that debt completely forgiven after 5 years!
Here's some basics:
1. Must have at least $1000 in Student Loans
2. Eligible for up to 15% of the purchase price-max of $40K (FORTY THOUSAND DOLLARS!) of outstanding student loan debt.
3. ALL student loans must be paid in full at settlement
4. Additional $5000 0% loan available for down payment and closing costs
5. Purchase a home in Maryland with at least a 5% down payment
6. Must meet income, debt to income, asset and credit guidelines of the Maryland Mortgage Program
7. Loan is forgiven at 20% per year and fully forgiven after 5 years!
If you are interested in finding out more about this amazing program or other programs that might be the right fit for you, call the Maryland Mortgage Mama today! 410-960-2061