If you qualify for both FHA and conventional financing, the decision can feel less like a win and more like a trade-off. Both loans can get you approved and into the home, yet they operate differently once you look past the surface. The real question becomes how each structure affects your down payment, your monthly cost, and how long you will carry mortgage insurance.

FHA loans are built to expand access, which means they tolerate lower credit scores and smaller down payments. Conventional loans rely more heavily on credit strength and available cash, and in return, they often reduce long-term insurance costs once equity builds. Each program solves the same problem, but the cost structure shifts depending on your profile and how long you plan to keep the loan.

Understanding how an FHA vs conventional loan compares in real numbers helps you avoid choosing based on approval alone. When you review down payment requirements, credit flexibility, insurance duration, and total projected cost side by side, the trade-offs become clearer.

Choose FHA if your credit score is under 680, your down payment is limited, or your debt-to-income ratio runs higher. Choose conventional if your credit score is stronger, you can put 10 to 20 percent down, and you want the option to remove private mortgage insurance later. The breakdown below explains why those distinctions matter.

Understanding your specific situation is the starting point for making this decision.
Calculate your specific scenario with McGowan’s mortgage calculator →

Key Takeaways

FHA loans accept credit scores as low as 500, while conventional loans typically require 620 or higher
FHA requires 3.5% down with 580+ credit; conventional requires 3% to 5% minimum
FHA mortgage insurance remains for the life of most loans; conventional PMI cancels at 20% equity
2026 FHA loan limits reach $524,225 baseline; conventional conforming limits reach $806,500 baseline
First-time buyers with credit scores above 700 and 10%+ down payment often save money with conventional loans
Buyers with credit scores between 580 and 679 typically find that FHA offers better approval odds and terms

What Is the Difference Between FHA and Conventional Loans?

FHA loans are government-insured mortgages backed by the Federal Housing Administration, designed to expand homeownership access for borrowers who may not meet conventional standards. On the other hand, conventional loans are private-market mortgages not insured by any government agency, conforming to guidelines set by Fannie Mae and Freddie Mac.

This distinction matters because government backing allows FHA lenders to accept higher-risk borrowers. The FHA insurance protects lenders against default, which translates to more flexible approval standards. Conventional loans rely on private mortgage insurance for loans with less than 20% down, and lenders set stricter requirements because they bear more risk.

FHA vs Conventional at a Glance:

Factor	FHA Loan	Conventional Loan
Backing	Government-insured (FHA)	Private (Fannie Mae/Freddie Mac)
Minimum Credit Score	500 (10% down) / 580 (3.5% down)	620 (varies by lender)
Minimum Down Payment	3.5%	3% (first-time) / 5% (standard)
Mortgage Insurance	Required for loan life (most cases)	Removable at 20% equity
2026 Loan Limits	$524,225 (baseline)	$806,500 (baseline)
Property Types	Primary residence only	Primary, second home, investment
Seller Concessions	Up to 6%	3% to 9% (varies by down payment)

What Are FHA Loans and How Do I Qualify as a First-Time Homebuyer?

FHA loans are mortgages insured by the Federal Housing Administration, a division of HUD. The government insurance protects lenders against borrower default, which allows them to approve borrowers who might not qualify for conventional financing.

A common misconception is that FHA loans are only for first-time buyers. The program is available to any eligible borrower, but first-time buyers benefit most because they often lack the savings and credit history that conventional loans require. The flexible requirements make FHA a practical starting point for many buyers entering the market.

FHA Qualification Requirements (2026)

Credit score minimums: 500 with 10% down, 580 with 3.5% down
Debt-to-income ratios: 43% standard, up to 50% with compensating factors
Employment verification: 2 years of history preferred
Property must be the primary residence
Must meet FHA property standards (appraisal requirements)

Highlight Box: FHA First-Time Buyer Advantages

First-time homebuyers using FHA loans can combine benefits with down payment assistance programs in most states. Gift funds are permitted for 100% of the down payment, and seller concessions up to 6% can cover closing costs, potentially enabling purchase with minimal out-of-pocket expense.

Understanding your FHA options helps you determine whether this program fits your situation.
Explore all FHA loan options and requirements with McGowan →

What Credit Score Do I Need to Get Approved for an FHA Home Loan?

FHA credit score requirements are tiered based on down payment amount:

Credit Score	Down Payment	Lender Availability
500 to 579	10% required	Limited lender options
580 to 619	3.5% minimum	Many lenders participate
620 to 679	3.5% minimum	Wide lender selection
680+	3.5% minimum	Best rates available

Real-World Context: Most lenders impose “overlays” requiring 580 to 620 minimum regardless of FHA’s official 500-score allowance. Borrowers with scores below 580 should expect to contact multiple lenders or work with FHA specialists who serve this market segment.

How Much House Can I Afford with an FHA Loan on My Current Income?

The FHA uses two primary debt-to-income ratios to determine how much home you can afford. One ratio evaluates your proposed housing payment against gross monthly income, while the other looks at total monthly debt obligations.

Understanding how those ratios are calculated helps you estimate purchasing power before beginning your home search. Reviewing the numbers in advance also prevents targeting homes that fall outside realistic qualification limits.

Ratio Type	Calculation	Maximum Allowed
Front-End (Housing)	Housing costs ÷ Gross monthly income	31% (can exceed with factors)
Back-End (Total Debt)	All debt payments ÷ Gross monthly income	43% standard, 50% maximum

Example Calculation:

Gross monthly income: $6,000

Maximum housing payment (31%): $1,860
Maximum total debt payments (43%): $2,580

With existing debt of $400 per month:

Available for housing: $2,180 per month
Approximate purchase power: $350,000 to $380,000 (varies by rate, taxes, insurance)

Knowing your ratios before shopping helps set realistic price expectations. Calculate your exact FHA affordability with McGowan →

How Do FHA Loan Down Payment Requirements Compare to Other Mortgage Options?

Down payment requirements vary meaningfully across loan types, and that difference often determines which program fits your savings position. FHA allows a lower minimum down payment than most conventional options, provided credit thresholds are met.

Comparing FHA to conventional and other government-backed programs clarifies how much cash is required upfront and how that choice affects mortgage insurance and long-term cost. The breakdown below highlights those structural differences.

Down Payment Comparison:

Loan Type	Minimum Down Payment	Notes
FHA	3.5% (580+ credit)	10% required for 500 to 579 credit
Conventional	3% (first-time buyers)	5% standard; 20% to avoid PMI
VA	0%	Eligible veterans/service members only
USDA	0%	Rural areas, income limits apply

Key Insight: While conventional loans technically allow 3% down for first-time buyers, the mortgage insurance cost differential makes FHA more attractive below 10% down for most credit profiles. Above 10% down with 700+ credit, conventional typically wins on total cost.

What Are the Current FHA Loan Limits in My Area and How Do They Affect What I Can Buy?

The FHA sets loan limits by county and updates them annually based on local housing costs. These limits cap the loan amount, not the purchase price, which means a larger down payment can bring a higher-priced property within FHA eligibility.

Knowing your county limit establishes a clear upper boundary before shopping. It also helps determine whether FHA remains viable at your target price point or whether another program may be necessary.

2026 FHA Loan Limits:

Area Type	Single Family	2-Unit	3-Unit	4-Unit
Floor (low-cost areas)	$524,225	$671,200	$811,275	$1,008,300
Ceiling (high-cost areas)	$1,209,750	$1,548,975	$1,872,225	$2,326,875

Practical Impact

Buyers in high-cost metros (San Francisco, New York, Los Angeles) often hit FHA ceilings, which may require conventional financing for higher-priced homes. In moderate markets, FHA limits accommodate most entry-level and mid-range purchases.

Highlight Box: When You Exceed FHA Limits

If your target home price exceeds local FHA limits, you will need conventional financing, a jumbo loan, or a larger down payment to bring the loan amount under the limit. Check county-specific limits at HUD’s official lookup tool before setting your price range.

Are FHA Loans a Good Option for Buyers with Low Credit and Limited Savings?

FHA loans were designed to expand access for borrowers who may not meet conventional credit or savings benchmarks. Lower minimum credit scores and smaller down payment requirements reflect that purpose.

However, accessibility does not eliminate trade-offs. Mortgage insurance structure and long-term cost should still be evaluated carefully. Assessing both approval likelihood and total payment impact helps determine whether FHA aligns with your situation.

When FHA Makes Sense

Credit score 580 to 679 with limited down payment funds
Recent credit events (bankruptcy, foreclosure) with required waiting periods met
High debt-to-income ratio near program limits
Gift funds available for down payment
Need lenient property appraisal standards

When to Consider Conventional

Credit score 700+ (conventional may cost less over time)
10%+ down payment available (conventional PMI more favorable)
Buying second home or investment property (FHA does not allow)
Loan amount exceeds FHA limits

What Documents Do I Need to Apply for an FHA Mortgage?

FHA approval requires verified documentation of income, assets, employment history, and credit. Lenders cannot rely on estimates when calculating debt-to-income ratios or assessing repayment ability.

Gathering required documents before applying reduces follow-up requests and shortens processing time. Complete files move through underwriting more smoothly than applications built in stages.

Required Documentation

Income Verification:

W-2s (2 years)
Recent pay stubs (30 days)
Tax returns (self-employed: 2 years required)

Asset Documentation:

Bank statements (2 months, all accounts)
Retirement account statements
Gift letters (if applicable)

Identity and Residence:

Government-issued photo ID
Social Security card or verification
Current address verification

Additional Documents:

Divorce decrees (if applicable)
Bankruptcy discharge papers (if applicable)
Landlord contact information for rental verification

How Do FHA Closing Costs Work, and Can the Seller Pay Some of Them?

FHA closing costs follow standard mortgage industry categories, including lender fees, appraisal, title work, and prepaid expenses. The structure itself is not unusual, although FHA allows seller concessions up to defined limits.

Understanding what sellers may contribute, and how concessions interact with appraisal value and contract terms, helps you negotiate effectively. Reviewing expected costs early prevents surprises at closing.

Typical FHA Closing Costs (2026):

Cost Category	Typical Range
Origination fees	0.5% to 1% of the loan amount
Appraisal	$400 to $700
Title insurance and search	$1,000 to $2,500
Prepaid items (taxes, insurance)	Varies by location
Upfront MIP	1.75% of the loan amount (can be financed)

Seller Concessions

FHA permits sellers to contribute up to 6% of the purchase price toward buyer closing costs, one of the highest allowances among loan types.

Example: On a $300,000 purchase, sellers can contribute up to $18,000 toward closing costs, potentially covering nearly all buyer expenses.

Strategic Note: In competitive markets, requesting maximum concessions may weaken your offer. In buyer’s markets, seller concessions can significantly reduce out-of-pocket costs.

Can I Use an FHA Loan to Buy a Duplex or Multi-Family Property to Live In?

Yes. The FHA allows financing for two-unit to four-unit properties, provided the borrower occupies one unit as a primary residence. This structure allows rental income from the additional units to be considered when qualifying, subject to underwriting guidelines.

Owner occupancy is the key requirement. Understanding how rental income is calculated, and how debt-to-income ratios adjust in multi-unit scenarios helps determine whether this strategy improves affordability in practice.

FHA Multi-Family Rules

Must occupy one unit as primary residence
Must move in within 60 days of closing
Rental income from other units can help applicants qualify
Higher loan limits apply for multi-unit properties

2026 Multi-Family FHA Limits (Baseline):

Property Type	Loan Limit
2-unit	$671,200
3-unit	$811,275
4-unit	$1,008,300

Using Rental Income to Qualify

Lenders can count 75% of projected rental income from non-owner-occupied units toward qualifying income. This “house hacking” strategy can substantially improve affordability.

Example: A duplex with one unit renting for $2,000 per month adds $1,500 (75% of rent) to qualifying income, potentially increasing purchasing power by $200,000 or more.

Highlight Box: House Hacking with FHA

FHA financing on a multi-family property allows first-time buyers to build real estate portfolios while satisfying owner-occupancy requirements. Rental income can offset mortgage costs substantially, and the low down payment requirement makes entry more accessible than conventional investment property financing.

How Does FHA Mortgage Insurance Work and How Much Will It Add to My Monthly Payment?

FHA loans require two forms of mortgage insurance: an upfront premium paid at closing and an annual premium paid monthly. The upfront amount is typically financed into the loan, while the annual premium increases your monthly housing payment.

The exact cost depends on loan amount, down payment, and loan term. Calculating both components together provides a clearer view of the total monthly obligation rather than focusing on the interest rate alone.

FHA Mortgage Insurance Premium (MIP) Structure

Upfront MIP:

Amount: 1.75% of the loan amount (typically financed into the loan)
Example: $300,000 loan = $5,250 upfront MIP

Annual MIP (paid monthly):

Loan Term	LTV	Annual MIP
More than 15 years	More than 95%	0.55%
More than 15 years	95% or less	0.50%
15 years or less	More than 90%	0.40%
15 years or less	90% or less	0.15%

Monthly Cost Example: $300,000 loan at 0.55% annual MIP = $1,650 per year = $137.50 per month

Critical Difference from Conventional

FHA MIP remains for the life of the loan on most terms (loans with LTV more than 90% at origination). Conventional PMI cancels automatically at 78% LTV.

Highlight Box: The Long-Term MIP Impact

Over 30 years, permanent FHA MIP on a $300,000 loan costs approximately $49,500. Refinancing to conventional once you reach 20% equity can eliminate this ongoing cost, a strategy many FHA borrowers pursue once their credit improves and equity builds.

FHA or Conventional: Which Is Better for First-Time Homebuyers?

The better choice depends on your credit profile, savings, and long-term plans. Neither FHA nor conventional financing is inherently superior, since each is structured around different borrower strengths.

FHA may offer easier approval with lower credit scores or smaller down payments, whereas conventional loans can reduce long-term mortgage insurance costs for stronger profiles. Comparing qualification likelihood and projected total cost side by side clarifies which option fits.

Choose FHA When:

Credit score 580 to 679
Down payment under 5%
Debt-to-income ratio 43% to 50%
Need maximum seller concessions (6%)
Using gift funds for the entire down payment

Choose Conventional When:

Credit score 700+
Down payment 10%+ available
Plan to stay in the home long-term (PMI removal valuable)
Buying in a high-cost area near or above the FHA limits
Want second home or investment property flexibility later

Real-World Scenario Comparison

Buyer Profile 1: 660 credit score, 5% down, $300,000 home

Factor	FHA	Conventional
Approval	Approved	Approved (marginal)
Interest rate	6.5%	7.0%
Monthly MI	$137 (permanent)	$175 (removable)
Better choice	FHA initially; refinance to conventional at 700+ credit and 20% equity

Buyer Profile 2: 740 credit score, 10% down, $400,000 home

Factor	FHA	Conventional
Approval	Approved	Approved
Interest rate	6.25%	6.25%
Monthly MI	$183 (permanent)	$140 (removable at 20%)
Better choice	Conventional: lower insurance cost and removal option

The right answer depends on your numbers, not general loan type preferences.
Compare all loan options for your situation with McGowan →

What Are the Down Payment Requirements for Each Loan Type?

Down payment requirements differ between FHA and conventional loans, and that difference often drives the decision. FHA allows lower minimum down payments with qualifying credit, while conventional programs scale requirements based on credit score and loan structure.

Reviewing minimum thresholds alongside mortgage insurance rules provides context for the trade-offs. The summary below outlines the baseline requirements for each loan type.

Loan Type	Credit Score	Minimum Down
FHA	580+	3.5%
FHA	500 to 579	10%
Conventional (first-time)	620+	3%
Conventional (standard)	620+	5%
Conventional (no PMI)	620+	20%

How Do Interest Rates Compare Between FHA and Conventional Loans?

FHA interest rates are often slightly lower than conventional rates for the same borrower profile because the FHA insures the loan against default. However, the total cost includes mortgage insurance, which can offset that rate advantage over time.

Evaluating interest rate alone can be misleading. Comparing projected monthly payment and long-term cost provides a more accurate picture of which structure is financially stronger.

Rate Comparison Factors

FHA rates typically run lower than conventional rates for the same credit profile
Conventional rates improve significantly at 740+ credit scores
The FHA rate advantage shrinks for excellent credit borrowers
Total cost (rate plus mortgage insurance) determines true comparison

2026 Rate Context (Illustrative):

Credit Score	FHA Rate Range	Conventional Rate Range
580 to 619	6.50% to 7.25%	7.25% to 8.00%+ (if approved)
620 to 679	6.25% to 6.75%	6.75% to 7.50%
680 to 739	6.00% to 6.50%	6.25% to 6.75%
740+	5.75% to 6.25%	5.75% to 6.25%

Key Insight: Rate alone does not determine total cost. A borrower with 620 credit might get a lower FHA rate but pay more over time due to permanent MIP. Running both scenarios with actual numbers reveals the true comparison.

What Are the Pros and Cons of Each Loan Type?

FHA Loan Pros

Lower credit score acceptance (500 minimum)
Lower down payment (3.5% at 580+ credit)
More flexible debt-to-income ratios
Gift funds allowed for 100% of the down payment
Higher seller concession limits (6%)
Lower rates for sub-700 credit scores
Assumable loans (potential future selling advantage)

FHA Loan Cons

Mandatory mortgage insurance for the life of the loan (most cases)
Property must meet the FHA condition standards
Primary residence only
Lower loan limits than conventional
Upfront MIP adds to the loan balance
Longer closing times (appraisal requirements)

Conventional Loan Pros

PMI is removable at 20% equity
Higher loan limits
Second home and investment property eligible
No upfront mortgage insurance
Streamlined appraisal process
More property type flexibility
Better rates for 740+ credit

Conventional Loan Cons

Higher credit requirements (620+ minimum)
Stricter debt-to-income limits
Lower seller concessions at low down payments
Higher rates for sub-700 credit scores
Gift fund restrictions vary by program

Can I Switch from FHA to Conventional?

Yes. Refinancing from FHA to conventional is common once credit improves and sufficient equity builds. This strategy is often used to remove FHA mortgage insurance and potentially secure better long-term terms.

Timing matters. Reviewing credit score, home value, and closing costs before refinancing ensures the switch produces a measurable financial benefit rather than a marginal improvement.

FHA-to-Conventional Refinance Requirements

Credit score improved to 620+ (ideally 700+)
Equity position of 20%+ (avoids new PMI)
Current on mortgage payments (typically 12-month clean history)
Property appraises at the needed value
Debt-to-income within conventional guidelines

When Refinancing Makes Sense

Reached 20% equity through payments or appreciation
Credit score improved significantly
Eliminating permanent MIP saves substantial monthly costs
The rate environment is favorable for refinance

Strategic Timeline: Many FHA borrowers refinance to conventional within 3 to 7 years, once credit improves and equity builds. Market appreciation can accelerate this timeline.

Refinancing decisions depend on your current equity position and credit profile. Learn more about refinance options with McGowan →

Expert Viewpoint: Making Your FHA vs Conventional Decision

The decision between FHA and conventional financing should be driven by your numbers rather than general reputation. Approval likelihood, monthly payment, insurance duration, and expected ownership timeline all influence which structure performs better.

Organizing the comparison around credit score, down payment capacity, and long-term cost creates clarity. The framework below outlines how to approach that evaluation step by step.

The Decision Sequence

Step 1: Know Your Credit Score

Mortgage qualification and pricing are largely driven by credit score. Lenders typically use the middle score from the three major bureaus when evaluating an application.

Small score differences can meaningfully affect interest rate, mortgage insurance cost, and approval flexibility. Knowing the middle score early helps set realistic expectations about which loan structure is likely to offer better terms.

Step 2: Calculate Your Available Down Payment

The available down payment includes verified savings, acceptable gift funds, and any eligible down payment assistance. Lenders also review remaining reserves after closing to assess financial stability.

A larger down payment can improve conventional pricing and reduce PMI costs. Limited funds may make FHA’s lower minimum down payment more practical, especially when preserving post-closing reserves is a priority.

Step 3: Run Both Scenarios

A proper comparison includes total monthly housing cost, not just principal and interest. Property taxes, homeowners’ insurance, and mortgage insurance must be included in both calculations.

Projecting total cost over the expected ownership period often reveals differences that are not obvious from the initial payment alone. Some loans cost less up front but more over time, while others require more cash initially but reduce long-term expense.

Step 4: Consider Your Timeline

Ownership timeline directly affects which structure provides greater value. FHA often delivers lower initial payments due to more flexible qualification standards.

However, conventional loans allow PMI removal once sufficient equity is reached. For borrowers planning to remain in the home long term, that feature can materially lower total cost.

Step 5: Get Pre-Approved for Both

Online calculators provide estimates, but a legitimate comparison requires real rate quotes and verified figures. Pre-approval includes a full review of income, assets, credit, and documentation.

Highlight Box: The McGowan Mortgages Approach

We analyze both options for every client, running specific scenarios based on your credit profile, down payment, and goals. The right loan is not about labels; it is about what costs you less and gets you approved. No pressure, just numbers.

The right answer depends entirely on your specific situation. Get personalized loan comparison from McGowan →

Frequently Asked Questions

What is the main difference between FHA and conventional loans?
The FHA insures its loans, which allows for more flexible credit and down payment requirements. Conventional loans are privately backed and rely more heavily on credit strength and borrower equity. The practical difference shows up in mortgage insurance structure, since FHA insurance often lasts longer, whereas conventional PMI can be removed once sufficient equity is reached.

Is FHA better than conventional for first-time buyers?
The better option depends on the borrower’s financial profile. FHA often works well for first-time buyers with moderate credit scores or limited savings, while conventional financing can reduce long-term insurance costs for buyers with stronger credit and larger down payments. Comparing projected total cost clarifies which program performs better over time.

Which loan requires a lower credit score?
The FHA permits credit scores as low as 500 with a 10 percent down payment, or 580 with 3.5 percent down. Conventional loans typically require a minimum score of around 620, although stronger pricing tiers begin higher. Approval depends on the full credit profile rather than the score alone.

Which loan has lower monthly payments?
Monthly payment depends on interest rate, down payment, credit profile, and mortgage insurance. The FHA can produce lower initial payments for borrowers with moderate credit, yet the long-term cost may increase if mortgage insurance remains in place. Running both structures side by side provides a clearer answer than comparing the rate alone.

Do FHA loans always require mortgage insurance?
Yes. The FHA requires both upfront and annual mortgage insurance premiums. For most borrowers with less than 10 percent down, mortgage insurance remains for the life of the loan, although loans with 10 percent or more down allow removal after 11 years.

Can I switch from FHA to conventional later?
Yes. Refinancing from FHA to conventional is common once equity reaches 20 percent and credit meets conventional standards. This strategy is often used to eliminate FHA mortgage insurance and potentially reduce long-term costs.

What are the down payment requirements?
The FHA requires a minimum 3.5 percent down payment with a credit score of 580 or higher, or 10 percent with a score between 500 and 579. Conventional loans may allow as little as 3 to 5 percent down with qualifying credit, while 20 percent eliminates private mortgage insurance entirely.

How do interest rates compare?
FHA rates are often slightly lower than conventional rates for the same credit profile because the loan is insured by the FHA. However, total cost must include mortgage insurance, and at higher credit tiers, conventional pricing often becomes comparable or stronger overall.

Find Your Ideal Loan Option at McGowan Mortgages

Many homebuyers reach a point where two loan estimates sit side by side, both technically workable but structured very differently. One shows a lower down payment and easier qualification, while the other shows stronger long-term savings but stricter approval standards. The decision often creates uncertainty because the short-term and long-term trade-offs are not immediately obvious.

The choice between FHA and conventional financing affects monthly payment, upfront costs, and long-term flexibility. Each program is designed for a different borrower profile, and the right fit depends on credit score, available savings, and how long the home is likely to be kept.

FHA loans are often more accessible for buyers with credit scores below 680 or limited funds for a down payment. The FHA allows more flexible qualification standards, particularly around credit history and debt ratios. In practice, this can improve approval odds and reduce the upfront cash required, though mortgage insurance generally remains in place for the life of the loan unless the borrower later refinances.

Conventional loans tend to reward stronger credit and larger down payments. Borrowers with credit scores above 700 and at least 10 percent down often qualify for lower mortgage insurance costs and gain the ability to remove PMI once sufficient equity is reached. Over time, that flexibility can reduce total borrowing costs, especially for buyers planning to stay in the property for several years.

The most reliable way to compare FHA vs conventional loan options is to review actual numbers. Side-by-side rate quotes, mortgage insurance calculations, and projected payment breakdowns provide clarity that general guidelines cannot. A full pre-approval also identifies documentation requirements and underwriting considerations early, which reduces surprises during processing.

Call +1 (816) 631-9687or contact McGowan Mortgages to discuss your loan options

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They made the whole process super easy and I was able to close quick with a low interest rate. I will definitely use them again for my next home and refinancing.

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We loved working with McGowan! It was our first time buying a house, and we were so overwhelemed. They were supportive the whole way through and patient explaining everything so we could make the best decisions on our loan choice, how much to put down, saving for closing, etc. Very responsive and could tell genuily care. :)

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Derek and his team worked tirelessly to get us approved and into our new house, all around the clock. We have worked with several other lenders and can confidently say that the McGowan group far exceeded our expectations. They listened, explained, and walked us through every step. I would recommend McGowan Mortgages 100% with no hesitation to anyone thinking about buying a home. Their level of expertise, especially in this market, will make the difference in securing the house of your dreams with rates you can afford or having made the biggest mistake of your life. I will always come back and know that they are there for my family and I, with any questions we have. I can’t thank the McGowan team enough for their professionalism and dedication to our family during a difficult process made easy.

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The team was phenomenal to work with and extremely helpful every step of the way. I recommend them to anyone purchasing or refinance their home.

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18:07 10 Feb 26

McGowan Mortgage was outstanding for both my primary home purchase and an investment property. Their speed was exceptional—everything moved efficiently without ever feeling rushed. The team’s knowledge was clear at every step, from structuring the loans to explaining options in a way that actually made sense. Most impressive was the communication: proactive, responsive, and transparent throughout the entire process. I always knew where things stood and what was coming next. I wouldn’t hesitate to recommend McGowan Mortgage to anyone looking for a smooth, professional mortgage experience.

McGowan Mortgage Team

17:58 10 Feb 26

Derek and his team go above and beyond to help. I couldn't be happier with the service I received. There was always someone to answer my questions and guide me through. I will be recommending them to everyone I know! Thank you again!

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03:50 10 Feb 26

I am very grateful with McGowan Mortgages, they helped me to get the mortgage for my new house last year, especially when most banks told me it was too difficult or even impossible because I am a self employed, McGowan made simple and possible, I truly recommend them.

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20:33 09 Feb 26

There team is great they worked together to get my heloc funded in 9 days, when I was on a time crunch!!

Maxwell Jones

22:41 08 Feb 26

If you want a mortgage lender who is responsive, sharp, honest, and relentless, Max Disser is the guy.We purchased our home in November 2024, and since this was my first home purchase, I expected the process to be stressful and confusing. On top of that, we used a VA loan, which can come with extra steps and specific requirements. Max handled everything like a total professional and made the entire process feel smooth, organized, and completely manageable.He communicated clearly, stayed ahead of deadlines, and always made sure I understood what was happening at every stage. Anytime I had a question, Max responded quickly and confidently, and I never felt left in the dark.What really stood out was how knowledgeable he was with the VA loan process and how well he worked with me as a veteran. He didn’t just “process a loan” — he genuinely cared and made sure I was taken care of from start to finish.If you’re a first-time buyer or a veteran looking to use your VA benefits, I highly recommend Max Disser and the McGowan Mortgages team.

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19:33 08 Feb 26

Derek and his team worked to find a tailored solution for my circumstance. Responsive and detailed team that will work to find the best product that meets your goals. I would highly recommend this company!

Jacob Schuetze

18:43 29 Dec 25

Derek has a great team, and while the process wasn't without hiccups, his team was great to work with and helped every step of the way.

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15:36 10 Dec 25

Derek got us set up and approved fast so we could put in offers on homes quickly. We got our place and the experience was great. Also during the process as questions or concerns came up he answered quickly and was very professional . We look forward to working with Derek and the McGowan team for future investments.

Paul Semple

14:41 19 Oct 25

I have never met a group of people who are experienced when it comes to home buying.It wasmy first time purchasing a home.I didn't know how to start the home buying process.I was introduced toTiana, Jessica, Derek and their team who stood up with me and my daughter from the beginning to the end.We were in our house in a timely manner.We will like to say thanks toDerek and his team. ⭐⭐⭐⭐⭐

Joann Ross Sanchez

22:35 18 Oct 25

I have a good experience working with McGowan Mortgage all the team make my dream come true in my new house they move so fast and when I almost give up they jump and do everything always with a good communication no matter the hour always I have the answer thanks for everything you and you team are A plus. Thanks to everyone work with me ( Megan, Analise, Tatiana and Derek)

Kaylie Westhefer

17:57 24 Sep 25

Thank you Max for all of your assistance! Your knowledge and customer service was outstanding and we are so thankful for your patience with us. Highly recommend connect with Max if you are shopping for rates and mortgage options! Had the pleasure of speaking with Derek and Thao at an event and they are just such great and kind individuals! Appreciate you all!

Andrew Halsey

16:23 15 Sep 25

Good help when needed all through the processes

Tina Liu

13:06 10 Sep 25

Cindy initially reached out to me, and then Julie followed up to help me see where I stand with buying a home since I’m looking into it for next year. She gave me a clear plan moving forward, and I really appreciate that it didn’t feel pushy at all. McGowan Mortgages truly seem like they care more about their customers than just pushing out numbers, and I’m excited to use them next year when I’m ready.

Stephanie Desai

21:52 06 Sep 25

Valerie Simmons

20:07 06 Sep 25

Cyndy, Missy and Derek were all very helpful, got us a great deal, lowered our closing costs and were so very professional and courteous. We appreciate all the energy and time. Thank you so much.

logan edwards

03:12 05 Sep 25

Everybody is amazing and helpful and really is there to help you and make sure you have every answer and if they dont they will try there hardest and get back to you in a very fast manner. 10 out of 10 recommend. Thank you guys for everything you guys did to help me get my wife and I our first house.

Faith Packer

21:58 02 Sep 25

I am currently working with McGowan Mortgages on my refinance, and the experience has been wonderful so far. Even though I’ve run into a few hiccups with my situation, Fidel has been incredibly helpful and supportive throughout the process. With my busy schedule, I sometimes can’t respond right away, but their team always checks in with me and keeps me motivated to stay on track. Those reminders make a huge difference for someone like me.I was recommended to McGowan Mortgages by my friend Julie, who helped me get started with my refinance application, and I’m so glad she did. Everyone on the team has been wonderful, professional, and committed to making the process as smooth as possible. Highly recommend!

Jenny Nance

18:36 23 Jul 25

my daughter referred me to mcgowan mortgage and the process has been great! I have been starting up my process with Julie and she has made this all a breeze! very grateful to have someone so helpful.

stacey gordon

15:25 22 Jul 25

We had such an awesome experience with the team! Would recommend a thousand times over!

Mikyl Grogan

17:04 19 Jul 25

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13:56 17 Jul 25

Whether you are a first time home buyer or a seasoned homebuyer these folks work so hard for you. They were kind, patient, knowledgeable and professional in every step of the process. I had little to no experience with every aspect of the process and they never let that get in the way. They worked hard every day and were always accessible. Can’t say enough good things about this company!!!!!

Steve P.

15:46 16 Jun 25

McGowan … from start to finish were always alternative and Helpful , with our loan process, last year we work with another major national loan company and we regretted the experience and hindered us purchasing a home at last minute . Wasn’t case this time around and we are happily in our new home ! Thank you Derrick McGowen and Staff and are grateful for your efforts and making our retirement home purchase possible .

Zoe B.

16:00 12 Jun 25

As a first-time homebuyer, I was honestly so clueless about the loan process, but working with McGowan Mortgages has been nothing short of amazing. From the very beginning, Julie, my application specialist, made everything so easy to understand. She communicated with me every step of the way and always kept me updated. After her, Tiana stepped in and has been just as incredible. The consistency in communication and support has been something I truly appreciate. What stood out the most is how well the entire McGowan team keeps everyone in the loop…not just me, but even my realtor! He hardly ever needs to reach out because they are always a step ahead in keeping everyone informed. It’s clear this team genuinely cares and wants to help people, not just push deals through. A huge thank you to Derek and the entire McGowan Mortgages team. You all are such kind, wholesome people, and it truly shows in how you treat your clients. I’m so excited to close on my new home soon, and I’m so grateful to be doing it with a team I trust!

Daniel Byard Keller Williams One Legacy Partners L.

18:24 07 Jun 25

My self and my Team have used McGowan Mortgages as a partner lender to our Real Estate Team for a few years now and they GET THINGS DONE. Derek and the Team are on point! 5 stars All the way!

05:09 06 Jun 25

Working with McGowan Mortgages was a fantastic experience. They were responsive, knowledgeable, and made the entire mortgage process smooth and stress-free. Communication was top-notch, and every step was explained clearly and handled with care. I highly recommend McGowan Mortgages to anyone looking for a trustworthy and efficient mortgage professional!

Team Ringgold - A.

16:20 05 Jun 25

McGowan goes above and beyond to keep things as easy as possible. Great communication and they really strive to put the customer first. I highly recommend for anyone who is getting a home loan!

Ali P.

14:04 05 Jun 25

The McGowan Team was very communicative for their clients from contract to close! It was a pleasure to work with their team.

Genrikh K.

15:59 03 May 25

Amazing team, helped me a lot and explained all what I need in proper ways that easy to understand.

Rick S.

19:10 21 Mar 25

McGowan Mortgages were easy to work with and closed quickly. I completed a refinance on a rental property with them and then closed on another property with them both in the same month. My realtor was also impressed with them and thought they were easy to work with. I plan on using them again to refinance down my second rental property. I highly recommend them.

tammy D.

14:19 21 Mar 25

What a great team! Very friendly and easy to work with. We were able to close on our house in less than a month.

Christina A.

05:16 09 Mar 25

Derek and the team made the whole process easy and will answer any questions you might have! They guided me through the entire process, ensuring that I understood all my options and felt confident in my decisions! Thank you!

D L.

21:30 04 Mar 25

THIS COMPANY ROCKS!!!!Navy federal gave me HELL ON EARTH!!!Mcgowan Mortgage saved me big time on a refinance!!! Derek, Fidel, Megan, Jessica, they are awesome!! To work withWill most definitely continue to do business with them again!!

Bob P.

17:20 04 Mar 25

Derek is a great Loan Officer that will go above and beyond to help you get into your home...His exceptional service and dedication truly sets him apart from the rest..Its always a pleasure to work with him!

James J.

13:46 04 Mar 25

I can’t say enough great things about Derek McGowan and his incredible team. Their professionalism, responsiveness, and commitment to finding the best solutions for clients truly set them apart.If you're looking for a lender who genuinely cares and delivers outstanding service, I highly recommend Derek McGowan and his amazing team.Jim Jablonski American Financial Resources LLC.

Sofi T.

21:06 03 Mar 25

Derek and his team are wonderful to work with! Proactive, friendly and professional. I would highly recommend.

Teddy K.

14:02 03 Mar 25

Derek McGowan was fantastic to work with! He’s fast, detail-oriented, and made the entire loan process smooth and stress-free. Highly recommend him for anyone looking for a reliable and efficient loan officer!

Bill S.

03:37 03 Mar 25

Best mortgage company I’ve ever worked with. I would definitely recommend. Kept the word through the whole process. Thanks to all of you guys and gals!!

Wade H.

23:41 02 Mar 25

Derek McGowen and his team are the best in the business. As mortgage brokers they have access to endless loan options and best in market rates. If you want great service and experience look no further.

Vaughn K.

02:24 02 Mar 25

Robyn has been a pleasure to work with and has provided a great experience! She is very communicative and helpful and has lots of knowledge!

Jose G

19:57 01 Mar 25

Great experience working with the McGowan team. They were able to help me and my fiancé get qualified and were very helpful throughout the process.

Jarret S.

19:34 01 Mar 25

The McGowan crew was great!! After trying a few mortgage company’s that wouldn’t approve us for the amount we wanted I found McGowan. They immediately got us approved for the amount we wanted. They for sure have ways of helping people who may have particular situations in the home buying process. Everyone was so nice and helpful and the one thing I especially loved was the prompt updates they were always keeping me informed on what was happening with my loan throughout the whole process. Jess the processor was also exceptional and made that whole process extremely stress free when it came time to get everything in order for the underwriter. Thanks for everything!! If I ever buy another house in the future I will certainly be using McGowan!!

Frank P.

17:13 01 Mar 25

Easy to work with very professional great at returning text email and calls and closing the deal I will deff use them again

Coralee C.

16:41 01 Mar 25

After so long trying and so close to my rental lease ending, I was recommended to this wonderful team and they made it happen. In about 30 days I was approved and moved in to my new home! Very grateful and happy. Smooth process.. Definitely will recommend.

Taelor C

16:31 01 Mar 25

They made the whole process easy and kept me in the loop about everything! I definitely would recommend.

rory L.

06:49 01 Mar 25

Derek and his team are great! Always there to answer any questions. Needed to close on time and they delivered!

Joshua C.

23:19 13 Feb 25

Derek and his team were organized, responsive and got the job done for our mutual client. Great experience all around!

Dawn D.

21:44 13 Feb 25

I've worked with McGowan Mortgages on multiple occasions. They are the absolute best at keeping everyone involved in a transaction, very well informed in the mortgage process. These folks at McGowan Mortgages strive to make sure clients understand everything!!! I highly recommend them to anyone interested in purchasing a home!

Alicia S.

17:40 10 Feb 25

As a Realtor when working on a financed deal for a client, nothing is more important then timely response and accountability from the lender and MCGOWAN MORTGAGE offers both! Highly recommend!

Rachel T.

15:13 01 Feb 25

I had a fantastic experience refinancing my home with Derek and his team at McGowan Mortgages. They made the entire process quick and seamless, handling everything efficiently and with great care. The team was incredibly friendly and responsive, always available to answer my questions and keep me updated. I felt taken care of every step of the way, and they really went above and beyond to make sure everything was done right. Highly recommend them for anyone looking to refinance!

Janna H.

14:53 31 Jan 25

Amazing team with the fastest service I’ve ever seen. HIGHLY RECOMMEND!!

Don S.

Jacquelyn B.

01:05 25 Jan 25

So helpful for first time buyers! Great customer service and responds quickly with great tools and information for buying a home!

Dan H.

16:56 30 Dec 24

Derek and his team were great to work with. They constantly keep us up to date on the status of the loan and how things were progressing. They were very helpful and in constant communication.

Kim W.

01:17 27 Dec 24

My husband and I are extremely pleased and grateful for the awesome job that McGowan Mortgage did for us.With 11 days to close we decided to go with McGowan due to issues with our other lender. McGowan’s team jumped right in and got us to close on time.Their entire team is professional, knowledgeable and kept us informed every step of the way!Most importantly we appreciate Derek and his team for caring about us to get us the best interest rate.We will definitely use them again and tell our family & friends about their services.

reggie P.

05:24 26 Dec 24

Derek and his staff came through in clutch time! Under dyer circumstances they were able to get my clients closed in 7 days, and keep it 100% professional. I look forward to working with them again.

Lynn P.

18:24 24 Dec 24

Derek and his team are stellar. Their communication and follow up is awesome.The have access to some very outside the box lending options for some of the more unique buyers.Highly recommend them!

Alberto R.

01:07 24 Dec 24

Very easy to work with as I always say if McGowan mortgages can’t do it then no one can.

anthony P.

06:48 09 Dec 24

My experience with the McGowans Corp was such a blessing and a truly one of a kind Adventure. We couldn’t have possibly chosen a more professionalKnowledgeable and well versed company thatmade our interactions feel more like family truth be told. They made the entire process seamless from start to finish, I mean wow and their confidence prior to any paperwork signing let us know what they do, how they work, what to expect as far as some highs and lows of new home searching. I would choose them a thousand times with confidence and ease in knowing the end results would be the same. Thank youDerek and Thao!!

Betty B.

21:29 28 Nov 24

Super Mortgage Company. They worked with me to get my mortgage when no other company would. They were with me the whole way. Constant communication and making sure all was getting done satisfactorily. So grateful to all of you. Thank you!

Noah L.

20:51 25 Nov 24

Derek was very helpful in the overwhelming process of buying a house!

Ash Dow (.

17:57 23 Nov 24

Awesome team! Enjoyed working with them!

Togo

16:37 23 Nov 24

They were wonderful people to work with, very receptive, efficient and nice. :) buying my first home was made easy by McGowan!

Steven M.

01:30 06 Nov 24

After 22+ in the Navy, I retired as a disabled combat veteran. I just wanted to come back to my hometown, buy some dirt, and finish raising my family. McGowan Mortgages were able to make that dream happen for me. They were outstanding to work with, genuinely engaging, and very proactive. They went out of their way to get the best possible interest rate so I was able to maximize my purchasing power. Thank you McGowan Mortgages!

Chris H.

01:35 26 Oct 24

Easy, seamless process. Derek was always available by phone and explained everything, anytime, I had questions!

Job R.

22:07 24 Oct 24

Loved working with them in getting our home made it nice and smooth for me thank you guys again

Tyler S.

21:05 21 Oct 24

They went above and beyond to help us get into the home we found on a time crunch. Highly recommend Derek and his team.

Oleg S.

21:12 18 Oct 24

Brittany F.

01:01 18 Oct 24

Fabulous team across the board! Derek and his team will be there with you every step of the way, focused not only on getting the sale through, but making sure to get you the best rates out there. Will definitely be working with their team again when it's time!

Kitamwire 2.

04:18 11 Oct 24

As first time home buyers. Me & my wife were very pleased to have McGowan as our Mortgage broker. The staff members were very professional in guiding us through the paper works and always open for questions throughout the buying process. Made our first home buying experience much smooth. Definitely recommended to any potential home buyers. We are looking forward to refinance with them in the coming months.

Alisa C.

16:10 10 Oct 24

chantel C.

12:25 10 Oct 24

I am thrilled to share my experience with McGowan Mortgages, as they played a pivotal role in helping me purchase my first home after what had been a deeply frustrating journey with two other lenders. My previous attempts werefraught with delays and ultimately ended in heartbreak when both lenders denied my applications after months of waiting. It felt like I was stuck in a limbo, unsure if I would ever achieve my dream of homeownership.When I turned to McGowan Mortgages, I was greeted with a refreshing level of professionalism and genuine care. From the very beginning, they provided me with a clear and actionable plan to raise my credit score, which was crucialin securing my approval. I was able to move into my new home within just 2-3 weeks—an impressive turnaround compared to my previous experiences.What stood out most was the patience and understanding of the McGowan team, particularlyDerek, who worked tirelessly to ensure I was well-informed throughout the entire process. He was always available to address my concerns, no matter the time of day. This kind of support truly made a difference during atime when I felt overwhelmed by the complexities of home buying.Thanks to McGowan Mortgages, I secured an incredible deal: no money down and a competitive 5.2% interest rate. Additionally, when the seller requested more money for the extended wait caused by my previous lenders,Derek kindly offered me a $500 credit to help ease that burden. As a single mom and a veteran, this support was invaluable.I cannot thank Derek and the entire McGowan team enough for their dedication and commitment to helping me realize my dream of homeownership. They provided educational videos to guide methrough the process and kept me on track with timelines, making everything feel manageable and straightforward.In conclusion, I wholeheartedly recommend McGowan Mortgages to anyone seeking a lending partner. My experience was nothing short of exceptional, and I am now a proud homeowner because of their outstanding service. I would ratethem a firm 10 out of 10!

Terry B.

23:20 08 Oct 24

Buying our first home was an incredible experience thanks to McGowan Mortgage. From the very beginning, they were attentive, knowledgeable, and genuinely cared about our needs. Especially during the times we were ready to give up. They guided us through every step of the process, making it seamless and stress-free. We ended up finally finding the perfect house in a great neighborhood, all within our budget! Their expertise and dedication made a stressful process enjoyable. Highly recommend! ⭐️

Joe S.

17:03 04 Oct 24

Great service!

Luis M.

21:46 03 Oct 24

Had the best experience.

Caleb W.

00:39 02 Oct 24

Always going above

Subbley H.

22:41 01 Oct 24

My husband and I had a smooth experience with McGowan Mortgages after a challenging start. Their professionalism and patience made our first-time home buying process effortless. Highly recommended!

Steve N.

15:57 30 Sep 24

Team McGowan was great work with throughout the process. They are true advocates for their customers.

Chanita T.

05:10 27 Sep 24

Jessica was very helpful and knowledgeable about the whole process, patient with me being a 1st time home buyer she literally held my hand and walked me through the process will recommend McGowan Mortgages to my friends and family thanks for all you guys did for me

Jeff T.

23:16 10 Sep 24

Derek & team were great to work with! They were very responsive, answered my off-the-wall questions at any time of day, and helped me close faster than anticipated. I would definitely recommend others to work with Derek's team when looking for a house in the future!

matt O.

13:39 26 Aug 24

Fast, efficient, informative and always professional!

Jamie L.

13:10 26 Aug 24

McGowan Mortgages worked very hard to get the job done. The communication is excellent and all the staff were so very nice and efficient. I cant say enough about how grateful I am for this company.

Reginaldo G.

20:24 21 Aug 24

Excelente Servicio y Atención. Gracias

Katie B.

22:54 16 Aug 24

They are a great company to work with. As a First time home buyer with all the questions they answered all of them and were available anytime I needed.

Denise jane A.

01:23 15 Aug 24

The best Mortgage company

Adam S.

18:21 11 Aug 24

Buying my first home was terrifying enough but Derek and his team got me through it anxiety attacks and all. He made the impossible happen and I can't thank him enough.

Mel C.

16:26 08 Aug 24

I recently had the pleasure of working with McGowan Mortgages for my home, and I couldn't be happier with the experience. From start to finish, their team was professional, knowledgeable, and incredibly responsive.They guided me through the entire process with ease, explaining every step in detail and answering all my questions patiently. They were always available to address any concerns I had, which made me feel confident and supported throughout the process.McGowan Mortgages secured a fantastic interest rate for me, saving me a significant amount of money each month. Their dedication to finding the best possible deal for their clients is truly commendable.I highly recommend McGowan Mortgages to anyone looking for a mortgage or refinance. Their exceptional service, expertise, and commitment to their clients make them stand out from the rest. I am grateful for their assistance in making my refinance a smooth and successful experience.

Homer S.

16:37 06 Aug 24