Frequently Asked Questions
TOP QUESTIONS ASKED BY OUR CUSTOMERS

Q. Why doesn’t Franklin Mortgage Company advertise rates on its site?
A. Franklin Mortgage Company does not post rates because your interest rate will vary depending on numerous variables. There are many things that we take into consideration before we can give you a quote. Please click here for more information or call us at 636-239-4811.

Q. Can property taxes be included in the escrow account?
A. Yes. When referring to escrowing, we typically mean your real estate taxes and homeowners insurance.

Q. What does a credit score mean?
A. Simply put, your credit score is a numerical indication of the risk of you not repaying a loan. The lower your score, the higher that risk has been determined to be. A company called the Fair Isaac Corporation is responsible for these scores, also known as FICO scores. Credit scores are derived from reports kept by major credit agencies, including Experian, Equifax and TransUnion. These agencies track the amount of debt consumers have taken on and whether they pay their bills on time.

Q. Why do credit scores matter?
A. Because they have a direct impact on your chances of qualifying when you apply for a mortgage, car loan or credit cards. Credit scores range from 350-850. Consumers with scored below 620 may be charged higher loan rates, while those with scores above 700 generally qualify for the lowest rates.