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Down Payment Assistance Grants

Down Payment Assistance Loans are now available!  And with concurrent underwriting (the lender handles all coordination with the Federal Grant Agency) this DPA can close in 30 days or less!

Some of the benefits are:
  • 3.5% grant is given to the borrower on an FHA loan, no strings attached
  • The grant requires no repayment and there is no lien against the property
  • Borrower can have as low loan-to-value as desired, and still receive the 3.5% grant
  • Can be as high as 48.99% debt-to-income ratios
  • There is no income limitation and no maximum on home value up to the FHA loan limit of $420,680
  • The credit score can be as low as 620, but no lower
  • May be combined with up to 6% seller concessions
  • Primary single family, manufactured home and FHA approved condos qualify
  • Rates are a little higher than market, but there are no origination fees
  • Borrower is only required to make 6 payments prior to refinancing... typically with an inexpensive FHA Streamline loan.
To qualify, your buyer must meet any one of the following requirements:
  • Subject property is located in an underserved census tract, which is nearly everywhere
  • Income is equal to or less than 140% of the state or county median income,
  • First-responders (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT), including volunteers, or similar),
  • Educators,
  • Medical personnel (nurse, doctor, phlebotomist, health ambassador, or hospital, American Red Cross worker, or similar),
  • Civil servant in a federal, state, or local municipality,
  • Military personnel,
  • First-Time home buyer, or
And, best of all, it is a concurrent loan product... meaning the lender approves it and deals directly with the Federal Grant Agency, making a 30 day or less closing process the norm.

Follow McWhorter Mortgage


McWhorter Mortgage
- NMLS: 1486483
- FL: MBR2015
- GA: 62076

Equal Housing Opportunity


W. Brandon McWhorter
- NMLS: 1222276
- FL: LO29724
- GA: 62082

Richard W. McWhorter
- NMLS: 1618644
- FL: LO 44137
- GA: 57530

Contact Us

McWhorter Mortgage
200 E Tillman Ave
Lake Wales, FL 33853