Up to $20,000 to pay off student debt at closing. Forgiven at 20% per year over 5 years.
Maryland's SmartBuy 3.0 is unlike any other DPA program in the country: it pays off up to $20,000 of your student loan debt at closing. No other state offers this benefit. The program recognizes that student debt is the primary barrier to homeownership for an entire generation.
To qualify, you must have at least $1,000 in student debt and agree to pay off your remaining balance (up to $20,000) through the program at closing. SmartBuy pairs with Maryland Mortgage Program first mortgages. For buyers carrying student loans, this program effectively converts debt into home equity.
We'll show you how to combine Maryland SmartBuy 3.0 with other programs to maximize your free money — personalized to your ZIP code and income.