All About Buying a House in Franklin, TN

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Get Familiar with the Lay of the Land in Franklin, TN

Ready to lay down some roots and buy a house in Franklin? Great idea! You picked a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers across the country and know the Franklin housing market well.

Given all of Tennessee's growth, Franklin homes aren't always easy to find at a comfortable price. Continued cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Franklin area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Franklin and its neighboring areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When looking to buy a house in Franklin, consider the home's location in relation to your everyday activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Franklin will help you see how the northern part differs from the southern part, what the communities are like, and where to find Franklin's coolest attractions.

Are you financially prepared to buy a house in Franklin? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Tennessee or somewhere else entirely. We work with new and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Franklin.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Franklin house hunt. Then, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, 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 a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, consider how much you can contribute to a down payment. Putting at least 20% down will improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

Make Your Move: Buy a Home in Franklin, TN

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Franklin, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Franklin. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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

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