The program is a unique initiative designed to help homebuyers eliminate student debt while purchasing a home. Unlike typical assistance programs that only focus on down payments, SmartBuy directly pays off your outstanding student loans as part of the home-buying process. How the Program Works
The program requires that your full remaining student debt balance be paid off at closing. If your debt exceeds the program's cap, you must pay the difference out-of-pocket. Key Qualifications maryland smart buy program
Household income must fall within specified limits, which vary by county and household size. The program is a unique initiative designed to
It can provide up to 15% of the home purchase price (capped at $30,000 ) toward student debt relief. Example of Stacking Benefits Maryland Smartbuy Loan If your debt exceeds the program's cap, you
Most participants must be first-time homebuyers, though exceptions exist for certain "Targeted Areas".