Highlights & Terms
- Pay off student debt during the purchase of a home
- Student debt minimum of $1,000 and maximum 15% of the home purchase price
- Minimum FICO score of 720
- Down payment and closing cost assistance is available and provided by the Community Development Association (CDA) in the amount of $5,000
Guidelines & Consideration
- Primary residences only
- Household income limits apply
- Property must be currently owned by, and available from, the state of Maryland
- Must meet all MMP eligibility requirements
- All student loan debt must be paid off at the time of home purchase
- Down payment minimum of 5% of the sales price is required
- Homebuyer education course required
Income restrictions, minimum credit scores, CDA program requirements and qualifications apply.
