Where does Mr. Cooper do business?
Mr. Cooper is based in Dallas, TX. The company was founded in 2017 and offers mortgages to borrowers in 50 states (and Washington, DC).
Does Mr. Cooper charge a mortgage origination fee?
Yes, Mr. Cooper may charge a loan origination fee.
What mortgage programs does Mr. Cooper offer?
Mr. Cooper offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- HomePath: Financing for the purchase and improvement of properties owned by Fannie Mae.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does Mr. Cooper allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Mr. Cooper allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia