Afford a Mortgage with Student Loan Debt!
Afford a Mortgage with Student Loan Debt! Not sure if you can get approved for a mortgage with that student loan debt? While it is certainly true that late or missing payments will hurt your credit score, being vigilant about timely loan payments might help you qualify for Maryland’s new mortgage assistance program despite having a high debt to income ratio.
In May the Maryland Mortgage Program announced the launch of “You’ve Earned It!”, the state’s initiative to assist qualified home buyers with more than $25,000 in student debt purchasing a home in one of Maryland’s Sustainable Communities. MMP’s plan will offer a 0.25% discount on their standard 30 year fixed mortgage rate and $5,000 in down payment assistance in addition to various mortgage assistance programs. Their aim is to empower home buyers and help them avoid falling subject to the many pitfalls of the home buying experience- some that can end up costing a lot of time, stress, and money.
Find out if you meet the requirements here and talk to a lender to determine your eligibility and learn which Home Buyer Education Class is best for you. The “You’ve Earned It!” program is open for a limited duration and eligible applicants are required to complete a Home Buyer Education Class so find out if you qualify today!
Afford a Mortgage with Student Loan Debt!