Mr. Cooper Mortgage Lender Review — Good Borrower Incentives

Mr. Cooper Mortgage Lender Review — Good Borrower Incentives

January 11, 2022 0 By administrator

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Mr. Cooper Mortgages Review 2022

Mr. Cooper Mortgages Review 2022

Editor’s Score: (3.6/5)

Mr. Cooper Mortgages Review 2022

Editor’s Score: (3.6/5)

  • Minimum Credit Score:

    580 FHA; 600 VA; 620 conventional

  • Minimum Down Payment:

    0% to 3.5%. depending on loan type

  • Can Apply Online:

    Yes

  • Operates In:

    All 50 States

NextAdvisor’s Take

Pros

  • Advertises general mortgage rates on its website
  • Offers a totally digital mortgage application and mobile app
  • Moving expenses may be covered through Mr. Cooper’s Zero Dollar Move program.
  • Rate discount credit for existing customers
  • Advertises a guaranteed on-time closing or Mr. Cooper will cover a borrower’s first principal-and-interest payment
  • Listing agent fee discount if you use the Mr. Cooper Real Estate Reward program

Cons

  • Does not offer USDA loans, home equity lines of credit, and reverse mortgages
  • History of consumer complaints to the CFPB may be a red flag
  • Requires a call or email for personalized rate quote
  • No in-person branches

The Bottom Line

Because Mr. Cooper offers conventional, jumbo, and government-sponsored home loans in all 50 states and Washington, D.C., it’s a very accessible lender with good customer incentives that may fit your needs. Just be sure you’re aware of the lender’s complaint history before applying. 

Editorial Independence

As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information about our scoring methodology, click here.

Mr. Cooper Full Review 

Mr. Cooper is formerly known as Nationstar Mortgage and is headquartered in Dallas, Texas. The company offers conventional and government-insured mortgages in all 50 states and Washington, D.C. The Mr. Cooper website claims it is the largest nonbank mortgage servicer in the U.S. with 3.5 million customers nationwide. 

The lender has an all-digital mortgage application and provides services to smooth out the homebuying process before and after closing day….

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