I'm Bond Peter Njoku (NMLS #2670329), your FHA loan specialist for McKinney and Collin County. McKinney has grown dramatically and prices in many neighborhoods have outpaced what first-time buyers expected — FHA's higher DTI flexibility and lower credit bar make it the right tool for buyers working their way into Collin County homeownership.
McKinney is in Collin County, which has a higher income limit (~$119,700) than Dallas County (~$97,200) for DPA programs like TSAHC and TDHCA. This means more McKinney buyers qualify for down payment assistance on top of FHA — a key advantage over buyers in higher-limit Dallas County markets.
The $524,225 FHA loan limit in Collin County covers much of McKinney's resale market. Buyers targeting neighborhoods like Tucker Hill ($350,000–$520,000), Historic Downtown McKinney ($320,000–$500,000), or affordable new construction communities will find FHA works well.
| Purchase price | $380,000 |
|---|---|
| FHA down (3.5%) | $13,300 |
| TSAHC DPA grant (3.5%) | $13,300 |
| Down from buyer | $0 |
| Base loan | $366,700 |
| Upfront MIP (1.75%) | $6,417 |
| Total loan | $373,117 |
| Est. P&I (6.75%, 30yr) | ~$2,419/mo |
| Annual MIP (0.85%) | ~$265/mo |
Income limits: Collin County ~$119,700. Call 469-545-7180 to check eligibility.
McKinney has significant new construction activity — Craig Ranch, Stonebridge Ranch expansion, and several east McKinney master-planned communities all have active builder sales offices. Builders' preferred lenders often push buyers toward conventional financing because it's faster and more profitable for the builder. But FHA may produce a lower payment for your credit profile — and your DPA programs apply regardless of which lender you use.
My recommendation: get pre-approved with me before you walk into a McKinney builder's sales office. You'll negotiate from a position of knowledge and keep all your options open.
I offer free, same-day pre-approvals for McKinney buyers — FHA, conventional, or both side-by-side so you know which loan type serves you better. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
$524,225 for a single-family home in Collin County. Covers most McKinney resale and entry-level new construction. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
Yes — FHA works on new construction as long as the home passes the FHA appraisal and meets HUD standards. I give you an independent option separate from the builder's lender. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
Yes — TSAHC (3–5% grant) and TDHCA (up to 5%, forgiven yr 3) stack with FHA in McKinney. Collin County income limits are higher (~$119,700), so more buyers qualify. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
580+ for 3.5% down. 500–579 qualifies with 10% down. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
I'm Bond Peter Njoku (NMLS #2670329), your McKinney FHA specialist. Call, text, or WhatsApp me at 469-545-7180 — I'll pre-approve you and stack every DPA dollar available before you visit a single builder's office.
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