All About Buying a House in Franklin, IN

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Exploring Franklin, IN From North to South

Ready to lay down some roots and buy a house in Franklin? Awesome! You've chosen an energetic city with a great balance of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Franklin housing market.

Given all of Indiana's growth, Franklin homes aren't always easy to find at a comfortable price. Continued support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Franklin area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Franklin and the surrounding areas still offer a variety of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When buying a home in Franklin, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Franklin will also give you an idea of why homes in west Franklin are priced differently than homes in east Franklin, where to find Franklin's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Franklin? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Franklin. We work with experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Franklin.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Franklin. Then, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Franklin averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

Make Your Move: Buy a Home in Franklin, IN

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Franklin. Contact Mr. Cooper as you look to buy a home in Franklin. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

Mr. Cooper Customer Reviews for Franklin, IN

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