Cool Springs, Franklin

Home, new-build and investor loans in Cool Springs, Franklin

Cool Springs is the commercial district on the east side of Franklin, not a separate city. Compared with the rest of Franklin it has more apartments and condos, a steady stream of new construction, and a big shopping and office base. Here's how financing works for condos, new builds, build-to-rent and larger investment property nearby.

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Build-to-rent, 5+ unit and commercial loans, business-purpose only
Condo and townhome financing, with project checks up front
Home loans where licensed

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The Cool Springs ZIP area at a glance

Cool Springs isn't a Census place, so these figures use the ZIP code area around it, which also takes in parts of eastern Franklin.

Measure	Cool Springs ZIP area	Franklin
Homes in buildings with five or more units	About 43 percent	About 29 percent
Single-family detached homes	About 49 percent	58 percent
Owner-occupied homes	About 52 percent	About 64 percent
Homes built 2010 or later	About 34 percent	About 32 percent
Median year built	2004	2002
Median home value (owner estimate)	About $756,000	About $705,000

Sources: U.S. Census Bureau, American Community Survey 2020-2024 five-year estimates (opens in a new tab) (housing figures; estimates with margins of error) and Vintage 2025 population estimates (opens in a new tab) (July 1, 2025, compared with the April 2020 base). Accessed Oct. 20, 2026. ZIP-area figures are a rough guide to Cool Springs, not an official boundary.

What it means for your loan: renters and owners are close to evenly split, and more than four in ten homes are in larger buildings. That makes Cool Springs a natural fit for condo and townhome buyers, and apartment and mixed-use buildings make up a larger share of the housing than in Franklin as a whole.

What's being built around Cool Springs

The City of Franklin's 2025 Development Report (opens in a new tab) records a revised plan for the Cool Springs Galleria area that adds 600 multifamily units and 84,555 square feet of nonresidential space. It's one of several approvals that keep apartments, townhomes and mixed-use buildings coming to the district.

For homebuyers, more new supply means more choices among newer condos and townhomes. For builders and investors, it means an active district for build-to-rent, small apartment and mixed-use projects. Bring us the site and your plan, and we'll look at local rents and nearby approvals with you.

For investors and builders: Cool Springs

Business-purpose loans for investment property only. Not for personal, family or household use. Subject to approval. Equal Housing Opportunity.

Build-to-rent and new-build rentals

Hold a finished rental with a DSCR loan, based mainly on the property's rent.

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Ground-up construction

Townhome rows, infill lots and build-to-rent projects, funded in stages as the work is inspected.

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Bridge loans

Short-term financing to buy, finish or stabilize a property before longer-term financing.

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5+ unit apartments

More than four in ten homes here are in larger buildings. Business-purpose loans for five-plus units, on select programs.

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Mixed-use and commercial

Homes over shops or offices, and commercial buildings, for business purposes on select programs.

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Start a deal

Share the site, the budget and your plan to start.

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Home loans for Cool Springs buyers

Home loans are offered only in states where Iron Hill Mortgage is licensed. Check our licensing page or NMLS Consumer Access for where we're licensed. Iron Hill Mortgage is a private company. We are not a government agency, and we are not endorsed by HUD, the FHA or the U.S. Department of Veterans Affairs.

Conventional loans

For condos and townhomes in projects that meet conventional guidelines, and for single-family homes.

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FHA loans

Insured by the FHA. An option for a Cool Springs condo when the project is FHA-approved.

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VA loans

Guaranteed in part by VA. Eligible veterans and service members can use VA on a house, or on a condo in a VA-approved building.

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Jumbo loans

For single-family homes near Cool Springs where the loan amount is above the yearly conforming limit.

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Non-QM for self-employed buyers

Bank statement options when write-offs lower the income your tax returns show.

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Moving here for work

Start from your current city, and line up closing with your start date.

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What to send us for a Cool Springs condo, new build or project

The community or condo project name, so we can check where it stands with FHA, VA and conventional guidelines up front.
For new construction, the builder's timeline, deposit terms and included features.
Moving for a job? Your start date, so we can set closing around it; most loan steps can happen by video and e-signing.
For build-to-rent, 5+ unit or mixed-use deals, the site plan, budget, approval status and rent comparables.

Common questions

Is Cool Springs part of Franklin?

Yes. Cool Springs is a commercial district on the east side of the City of Franklin, in Williamson County. It isn't a separate city.

Can I use FHA or VA for a Cool Springs condo?

It comes down to the building, since FHA and VA approve condo projects as a whole. Send us the community name and we'll check before you commit.

I'm relocating for a job in Cool Springs. Can I start my loan before I move?

Yes. Apply from wherever you live now. If you're changing employers, an offer letter and start date usually matter for qualifying, so send those early. Documents, calls and most signatures happen online, and a title company handles closing.

Can I finance a new-build rental near Cool Springs with a DSCR loan?

Yes. Once the home is finished and leased, or ready to lease, a DSCR loan can hold it, based on rent from comparable new homes nearby. We review the HOA documents with you as part of the loan. Business-purpose only.

How does a construction loan work for a build-to-rent or infill project?

The loan covers part of the project budget, and funds are released in draws as work is completed and inspected. Lenders review the plans, budget, builder and exit plan, such as a sale or a longer-term rental loan.

Do you finance apartment buildings or commercial property near Cool Springs?

Yes, for business purposes, on select programs: five-plus unit apartments, buildings with shops or offices below and homes above, and commercial property. Share the address, the current income and your business plan and we'll give you a straight answer on fit.