Get Started on Your Franklin Home Loan Journey
Homes aren't one size fits all structures. Neither are home loans in Franklin. Finding the right fit for you takes some shopping around! That’s where Mr. Cooper can help. Our goal is to keep the dream of homeownership alive beginning with the mortgage loan process. We hope you'll keep reading for general information about finding a home loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
As you begin searching for home loans, double check your credit and try your best to improve your score. A not-so-great credit score could mean you'll have a higher interest rate on your mortgage loan. On the other hand, a high credit score can help you advocate for your best rate with a lender. Your credit score, finances, and and the timeline you'd like to make your move can all impact the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Franklin, WI
You may have options when it comes to Franklin home loans: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan could be a great route for you if you're ready to make a down payment of at least 3% (depending on your situation), your credit is healthy, and your income and employment history are stable.
FHA loans and VA loans are both types of government loans. Income and credit requirements are often different criteria than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which home loan is right for you? A professional loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Begin in Franklin, WI with a Preapproval Letter
Get a Verified Approval Letter from your lender before you start shopping for homes in Franklin to show that you've done your due diligence. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also show seller’s you’re serious about the home they’re selling. Give us a call now to talk about all things loan-related! We'll walk through everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Franklin. What are you waiting for? Get started with the help you need!
- This is not a commitment to lend. All loans are subject to credit and property approval. This offer is nontransferable and may not be combined with any other mortgage offer. Advertised offer is subject to change. If a personal code is present on the advertised offer, you must provide such code to claim the offer. We may gather information about you including, but not limited to, credit bureau information, information for verification of income, information for appraisal and verification of property being used for collateral. We also verify your identity. Income, assets, and debt must meet eligibility requirements as established by Government and/or Lender guidelines.