Student Loan Forgiveness for First Time Buyers

By
Mortgage and Lending with SWBC Mortgage 410-960-2061 NMLS 196068

 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

Posted by

Warm Regards,

Bridget McGee  Maryland Mortgage Mama  NMLS# 196068  SWBC Mortgage.   410-960-2061 EHO   bridget.mcgee@swbc.com or www.marylandmortgagemama.com

 

If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure! 

If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest.  Please contact me at 410-960-2061.

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Rainmaker
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Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

Thank you for posting this Bridget! I'm off to find your video so I can share that, too. 

Oct 03, 2018 10:19 AM #1
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Rainmaker
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Bridget "Mortgage Mama" McGee

Maryland Mortgage Mama NMLS#196068
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