Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago,

User Stats

1
Posts
0
Votes
Michael McGovern
  • New to Real Estate
  • Arlington, VA
0
Votes |
1
Posts

Has anyone used Maryland SmartBuy2.0 student loan forgiveness?

Michael McGovern
  • New to Real Estate
  • Arlington, VA
Posted

I am very new to real estate investing and I have been listening to BiggerPockets for a few weeks now. While watching a YouTube video, one of the ads that played was listing off incentives to buy real estate in the DMV area. Apparently Maryland has a program called SmartBuy which provides student loan assistance for first-time home buyers. 

Here is a description:

The Maryland SmartBuy 2.0 program helps homebuyers with student debt purchase a home. The program is designed to allow borrowers to pay off student debt during the purchase of an eligible home. Maryland SmartBuy financing provides up to 15% of the home purchase price for the borrower to pay off their outstanding student debt, up to a maximum of $40,000. This is structured as a 0% interest loan, forgivable over 5 years.


So I was wondering if anyone has used this program and what the experience has been like. For context, I have a little over 20k in student loans and live in an apartment where I pay rent. I am very interested in buying real estate and if 20k worth of student loans paid off can be added to an already good deal, I would like to explore my options for making this work. I'm set to attend an open house this upcoming Sunday (8/2) for a property that needs some rehab.

Loading replies...