Frequently Asked Questions

Homebuyers and homeowners usually have many questions when they come to us for help with their home loans.

Below are answers to some of the questions we are asked most often. Don’t see the answer you are looking for here? Please call (816) 631-9687 to schedule a consult.

Q: What are your mortgage rates?

As the top team with the #1 Mortgage Broker in the country, we shop hundreds of the best lenders in the country to guarantee your best rates

There is no blanket answer to this question, since mortgage rates change over time. Not only that, but your qualifications will affect the rates you receive.

If you contact us for a consultation, we will have a chance to provide you with some estimates based on your information.

Q: What is the maximum amount I can borrow?

Certain types of mortgages have a universal cap, while others depend on the qualifications of individual borrowers. In either case, what type of loan you apply for and your borrower profile will determine the maximum amount.

Q: Is my credit score high enough for me to buy a home?

That depends on the type of mortgage you are applying for. We will assess the other details of your file, like your debt-to-income ratio and down payment, which will help determine your minimum down payment requirements.

Many borrowers are surprised to learn that there are mortgage products aimed specifically at customers without perfect credit.

Some examples include FHA and VA loans, where we can go down to 500 credit scores. During your consultation, we can discuss these and other options with you.

Something else to consider is your down payment. By making a larger down payment, you can compensate for some issues in your credit score.

Plus, we can help you boost your credit score with our Credit Rescore in-house process, once we receive your loan application. We will advise you as to how you can go about that process during your consultation.

Q: Can I buy a home without a 20% down payment?

Yes, it is possible to move into a home without making a 20% down payment. Low down payments are available for conventional loans, FHA loans, VA loans, and USDA loans. Actually, with a FHA, VA or USDA mortgage, you can buy a house with zero down.

You do not need a perfect credit score to qualify for a low down payment or no down payment.

Q: What is the maximum loan amount I can get?

Factors that impact the maximum amount of money you can borrow when purchasing a home include the type of mortgage, your borrower qualifications, and the loan limits when you apply.

We can give you an idea of the maximum loan amount for different mortgage products during your consultation.

Q: Do you work with borrowers where I live?

We are an Equal Housing Lender, based in Kansas City, with employees coast-to-coast and licensed in 40 states. We can help you nearly anywhere you're looking to purchase your new home.

Q: How does the process of switching over to McGowan Mortgages work if I'm already under contract elsewhere?

Switching is simpler than you might think. We often have clients transition to us for our lower rates, even when under contract. Contact us directly, and we'll guide you through the seamless process.

Get Answers to All Your Mortgage Questions

If you have more questions about buying a home or refinancing, you can contact us at (816) 631-9687 to schedule a consult. We look forward to helping you apply for the ideal home loan.

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See What Our Clients Are Saying About Us!

Dianne Hubbard
Dianne Hubbard
14:45 27 May 24
If I was to get another house I will surely come back to y'all y'all did the great job for me best job ever y'all went above and beyond for me thank you all so much and I will refer other people like my family members which I already have keep up the good work thank you so much
Elizabeth Bade
Elizabeth Bade
02:12 10 May 24
Nothing but great things to say. Michael did great!!!
Tisha Greco
Tisha Greco
20:53 07 May 24
What a great group of folks to work with! They do such an amazing job of communicating and you can tell they genuinely care about their customers and the outcomes. Michael is so incredibly nice and helped make my dreams come true! Highly recommend!
Camren Veach
Camren Veach
14:17 07 May 24
Super smart, super good at communication
Dee ohrt
Dee ohrt
00:11 07 May 24
Its been a pleasure working with attentive lenders. They have reached out several times trying to show they want me comfortable in the process. Though I'm still in the works with the loan, I am quite confident in the manner McGowan is handling my loan and I am thankful that my Veterans advocate have sent me to them.
Chelsey Kessler
Chelsey Kessler
20:40 06 May 24
The McGowan Mortgage team provides top-tier customer service and they're ALWAYS willing to dive in and help! Their attentiveness coupled with the robust variety of loan programs they offer makes them some of the best in the business. If you give them a shot at earning your business, I'm certain you'll be glad you did!
Adam Canote
Adam Canote
02:29 05 May 24
Highly recommend! Michael Corujo is the best in the business. Always quick to reply and super knowledgeable.
Joe Schuster
Joe Schuster
13:50 04 May 24
Jeff Nguyen
Jeff Nguyen
13:03 04 May 24
Kimberly Roberts
Kimberly Roberts
22:55 03 May 24
Michael has been wonderful to work with! Extremely knowledgeable and easy to work with!
Brad Parks
Brad Parks
21:53 03 May 24
We have done numerous transaction with Derrick, Michael, Jess, and the rest of their team . I can't say enough good things about these guys!!! They really go the extra mile for their clients to ensure a smooth closing process. 🍻🍻 to many more successful transactions!!! 😃😃😃
Thu Phan
Thu Phan
21:46 03 May 24
McGowen Mortgage is super easy to work with! Michael is amazing! We literally got our Heloc in less than 2 weeks! Thanks guys!
Jeremyah Grigery
Jeremyah Grigery
20:45 03 May 24
I'm not one to leave reviews on things, but I felt compelled to leave this one. Our experience with Michael was fantastic. Honestly, I'd leave 6 stars if they let me. Michael was very communicative throughout the entire process to the point of actually anticipating questions that we would have even before we got a chance to ask. Never dealt with someone who actually felt like a true "expert" in the field. I won't use anyone else in the future.
Brandon Womack
Brandon Womack
20:29 03 May 24
Ask for Michael! Great guy, knowledgeable, and always willing to help.
Quintin Morse
Quintin Morse
20:01 03 May 24
Michael Corujo was incredibly helpful in getting me the info I needed to be an educated buyer in the current market. Highly recommend.
Stephanie Schupp
Stephanie Schupp
19:59 03 May 24
Michael is 10/10 as a mortgage broker. We have used Michael for several loans and he’s professional, timely, and has always saved us money. Highly recommend!
AB Tubers
AB Tubers
19:37 03 May 24
Michael Corujo was excellent. very friendly, professional, and timely communication from start to finish. Highly recommend
Joshua Reeves
Joshua Reeves
19:35 03 May 24
Derek has a great team over there! Michael C is the best! Made the proess so easy!
Michael Tyler Corujo
Michael Tyler Corujo
19:05 03 May 24
Derek is the best. They have great rates and every loan product known to man.Their team is quick to respond and very nice and informative. I would recommend them to any of my friends or loved ones.
Chelsey Kessler
Chelsey Kessler
17:49 03 May 24
Kyle Coleman
Kyle Coleman
22:37 12 Apr 24
Great to work with them, closed really quick. Great communication!
Cindy Tran
Cindy Tran
00:49 12 Apr 24
Derek and his team are very helpful, organized and professional! They go above and beyond!! Would 100% recommend!
Derek McGowan
Derek McGowan
05:35 11 Apr 24
Steven Wynands
Steven Wynands
21:19 09 Apr 24
Derek is such a forward-thinking Loan Officer that it's no wonder he's in the top 1% in the entire country! He and his team stay plugged into the industry so that they can provide the best options for their borrowers and real estate agents. Rock on Derek!
Kendal Hatten
Kendal Hatten
23:46 08 Apr 24
Derek and his team are wonderful! My husband and I are buying our first home. Derek was able to get me pre approved on a Sunday afternoon and has been available for my questions! I will be referring my family and friends to McGowan MortgagesExcellent service! 🥰🥰🥰
Paul Nsubisi Mwankusye
Paul Nsubisi Mwankusye
18:45 09 Mar 24
Very organized and professional which makes the process easy and smooth. I recommend
Chanita Tuggle
Chanita Tuggle
22:39 05 Mar 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
Karen Myers
Karen Myers
18:37 05 Mar 24
Very helpful with helping us secure a HELOC for the purchase of a second property. Always available for questions and responsive to any concerns. Thanks!
Lorena Patterson
Lorena Patterson
11:56 05 Mar 24
As a closer for a title company for the last 20 years I know good service and I love that I was given everything before I even had to ask for it. Love the organization and attention to detail.
Betsy Siegfried
Betsy Siegfried
19:54 07 Feb 24
Derek and his team were great to partner with! Having happy buyers at the closing table is best part of our job. I would highly recommend and look forward to working with McGowan Mortgage again.
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