Owning a home should be within reach for everyone, and at McGowan Mortgages, we believe in breaking down barriers to make homeownership a reality. Our comprehensive Down Payment Assistance (DPA) program is designed to provide the flexibility and accessibility you need to secure your dream home, regardless of your financial situation.
New and Improved Down Payment Assistance Program
Unmatched Benefits of McGowan Mortgages’ DPA Program
- Payable and Non-Repayable Options. When it comes to financing your home, one size rarely fits all. That’s why our DPA program offers both payable and non-repayable options. Whether you prefer a structured repayment plan or assistance without the obligation to pay back, we have tailored solutions to suit your needs.
- No Area Restrictions. Unlike many traditional DPAs that confine options to certain areas or census tracts, our program is open to buyers across all locations. You have the freedom to choose where you want to make your home, without worrying about limited eligibility based on geographic boundaries.
- Credit Flexibility. Credit scores should not be a barrier to homeownership. While numerous DPAs set a minimum credit score requirement of 640 or even 660, our program is accessible with credit scores as low as 580. We understand that financial circumstances vary, and we are here to support you, regardless of your credit history.
- Income Cap-Free. Many DPAs impose income caps, excluding individuals or families with higher earnings. At McGowan Mortgages, we do not limit eligibility based on income. Our DPA program welcomes individuals from all income brackets, ensuring equal opportunities for everyone to achieve homeownership.
- Debt-to-Income (DTI) Flexibility. Your financial situation is unique, and our DPA program acknowledges that. While other programs restrict eligibility with a DTI cap of 45%, we work within FHA-approved limits, allowing a DTI of up to 56.99%. This flexibility offers more room for financial maneuverability, making homeownership more attainable.
Your Path to Homeownership Begins Here
Don’t let financial constraints stand in the way of your homeownership aspirations. Contact McGowan Mortgages today at (816) 631-9687 to learn more about our Down Payment Assistance program. Our team of experts is ready to guide you through the process and help you take the crucial step towards owning your ideal home.
Unlock the doors to homeownership with McGowan Mortgages’ Down Payment Assistance—a program designed to empower you on your journey to homeownership.
