Kenneth Holt

Since November 2016, the Maryland SmartBuy program has allowed qualifying home buyers with at least $1,000 in student debt to purchase a pre-selected Maryland home owned by the state’s Department of Housing and Community Development (DHCD) and receive up to 15% of that home’s purchase price as a five-year forgivable loan toward the outstanding debt. So far, more than 30 Maryland households have eliminated their student debts and achieved their dream of homeownership through the SmartBuy program. Homes are move-in ready, selected to appeal to young buyers, and priced from under $100,000 to the low $300,000s. Maryland is the only state with a program of this kind, although the DHCD, led by secretary Kenneth Holt, has received inquiries about the program from other jurisdictions.

Since November 2016, the Maryland SmartBuy program has allowed qualifying home buyers with at least $1,000 in student debt to purchase a pre-selected Maryland home owned by the state’s Department of Housing and Community Development (DHCD) and receive up to 15% of that home’s purchase price as a five-year forgivable loan toward the outstanding debt. So far, more than 30 Maryland households have eliminated their student debts and achieved their dream of homeownership through the SmartBuy program. Homes are move-in ready, selected to appeal to young buyers, and priced from under $100,000 to the low $300,000s. Maryland is the only state with a program of this kind, although the DHCD, led by secretary Kenneth Holt, has received inquiries about the program from other jurisdictions.