Simplifying Your Move in Kansas City and Beyond
At McGowan Mortgages, we understand the complexities of buying a new home while planning to sell your current one. That’s why we offer our unique Cash for Keys program, designed to ease your transition, and ensure a smooth, stress-free experience.
What is Cash for Keys?
Our Cash for Keys program is perfect for homeowners who want to purchase their new home before selling their current one. This innovative loan option addresses common challenges such as debt-to-income (DTI) ratios and securing a down payment for your new home. With Cash for Keys, you can move forward confidently without the financial strain of managing two mortgages.
Do you know how much home you can afford?
Most people don’t... Find out in 10 minutes.
Today's Mortgage RatesHow Does Cash for Keys Work?
- Guaranteed Offer on Your Departing Residence: Partnering with Homelight, we provide a guaranteed offer on your current home. This means you can exclude your existing mortgage payment when applying for a new loan, provided you choose a Conventional, Jumbo, or Bank Statement loan with The Loan Store.
- 0% Bridge Loan: Unlock the equity in your current home with a 0% bridge loan. This allows you to access funds for the down payment and closing costs of your new home without waiting for the sale of your existing property. Here’s how we calculate the equity unlock amount:
Equity Unlock Amount = (Market Value × 75%) − (Current Mortgage Balance)
- Purchase and Close on Your New Home: With the bridge loan in place, you can proceed with purchasing and closing on your new home without delay.
- Sell Your Departing Residence: After closing on your new home, you have 21 days to list your current home with your preferred local Realtor. You then have up to 90 days to get the property under contract.
For more details, check out our informative video and downloadable flyer. Discover how our Cash for Keys program can simplify your home buying and selling process.
Why Choose McGowan Mortgages?
- Expertise and Experience: With years of experience in the mortgage industry, our team has the knowledge and skills to guide you through the home buying and selling process effortlessly.
- Client-Centered Approach: We prioritize your needs and work tirelessly to ensure you achieve your homeownership goals.
- Comprehensive Service: From securing financing to closing the deal, we’re with you every step of the way, offering personalized support and expert advice.
Contact McGowan Mortgages Today
Ready to make your move? Let McGowan Mortgages help you navigate the transition with ease. Contact us today at (816) 631-9687 to learn more about our Cash for Keys program and how we can assist you in purchasing your dream home while selling your current one.
Do you know how much home you can afford?
Most people don’t... Find out in 10 minutes.
Today's Mortgage Rates
