Special Offers From Mr. Cooper

Sorry, there are no offers available at this time. Check back soon!

Get to Know the Home Loan Process in Franklin, IN

Whether you're buying your first home in Franklin or your seventh on the other side of Indiana, you have a friend in the home loan process. Mr. Cooper is the nation's fourth-largest mortgage servicer and can help you every step of the way.

Busy? Have us call you back. Call Me Back

More Information

The Right Way to Start Your Franklin, IN Mortgage Process

Owning a home — it's a mission that unifies all kinds of people! And it's a process that you can get help with from beginning to end. If you're curious about the process of getting a mortgage in Franklin, keep reading. Then call Mr. Cooper to take your next step. Our trained mortgage professionals will work alongside you and suggest the best options for you at every turn.

Our crew can even help you out as you begin your hunt for a new house. They can get you connected to Mr. Cooper® Agent Assurance, an organization of industry-respected real estate agents who can assist with the buying and selling process. And if you're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. Here, you can search for a home in Franklin, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. And guess what? If you choose to buy a house with a Mr. Cooper mortgage, we'll pay for your move (up to 50 miles).

But we're getting too deep into the weeds. You're here to learn more about moving in Indiana and the overall mortgage process. At a basic level, why do people get home loans? A home loan helps you buy a house sooner than you might otherwise be able. In some situations, it can also offer tax perks. What's more, keeping some cash in your bank account (instead of spending it all on a house) can come in handy for unexpected life expenses. This information applies whether you're going through the home loan preparation process in Franklin or anywhere else.   How to Apply for a Home Loan in Franklin, IN   Steps to Complete the Mortgage Process in Franklin, IN How to Apply for a Mortgage in Franklin, IN

Houses in Franklin seem to move off the market just as fast as they come on, and you'll want to take action quickly — even more so if you're on a tight timeline. We get it! Here is a summary of the essential steps when applying for a mortgage in Franklin

Start by thinking about how long you'll be in your new home. Is this a soon-to-be investment property? Or is this where you'll be raising your family? If you're going to be in the house for years and years, look into a fixed-rate loan. Your interest rate stays the same when you have a fixed-rate home loan. But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Franklin. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. When that period is over, the rate can adjust at specific intervals. During the pre-qualification phase, your mortgage professional can connect you with the right loan program for your situation.

After, complete your IN lender's loan application process. Every lender has a somewhat different process. Usually, though, you'll have to provide the following details: income sources, pay stubs, Social Security numbers, the address of the house you'd like to buy, purchase contract, credit check authorization, the amount you want to borrow, and your banking info.

Next up? A loan estimate from your lender! You'll receive your estimated monthly payment, interest rate, and closing costs. Remember that a loan estimate isn't the same thing as a mortgage. It's a bit of preview, and you can get multiple loan estimates to compare and select the right loan for you.

Go through the mortgage process in Franklin with Mr. Cooper and we'll look at your situation and give you a Verified Approval letter — a super-accurate estimate of what you can afford to borrow! This letter means a lot to home sellers and realtors because it shows you can afford a home. You're not just browsing! Not every lender offers Verified Approval letters as Mr. Cooper does.

Ask your lender! The more questions you ask The FTC advises that you should also ask each lender about any special programs, additional fees, the loan's annual percentage rate (APR), and whether the quoted rate is the lowest for that week or day.

Make Your Move with a Home Loan in Franklin, IN

The ball is in your court at this point! Compare your mortgage offers and select the option that's right for you. Consider the details of each, from the interest rate to the loan term. A Mr. Cooper mortgage professional can help you evaluate the drawbacks and advantages of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. It's a standard part of the home loan process, whether you live in Franklin or elsewhere. Consider it a more formal version of your previous estimate. There could be differences between the first estimate and the disclosure. It's fair to ask about these differences.

At Your Mortgage Closing in Franklin, IN

Once your home loan is approved, it's time to close on your dream house in Franklin! At this stage of the home loan process, your broker and closing attorney come into the picture to sign off on the closing costs. Depending on your location, you could be required to work with a Franklin closing attorney. They'll book time with you to sign your loan documents. Even if paperwork takes longer than expected, you don't have to stress over your closing date being delayed. We guarantee we’ll close your loan on time, or your first month’s mortgage payment (principal + interest) is on us*.

It's practically time to move in and unpack your boxes once you sign on the dotted line! You've completed the mortgage process in Franklin, and it's time to roll out the welcome mat. Your Franklin house is now your home! Does that all sound too easy? Call Mr. Cooper. We do our best to make the home loan process in Franklin a super easy one.

Mr. Cooper Customer Reviews for Franklin, IN

Read real stories from real Mr. Cooper home buyers in Franklin, IN. Then contact us to see what we can do for you.

Overall Rating

out of 5 stars ( customer reviews)

Simplify the home buying process in Franklin with Mr. Cooper.

Mr. Cooper works to save buyers money at every stage of their journey, from real estate commissions to closing costs.