Whether you are looking to purchase a lakefront cottage on Lake Michigan, refinance a suburban townhouse in the heart of downtown Madison, or a remodel a condo in thriving Milwaukee, the mortgage companies on ForTheBestRate.com have Wisconsin home mortgages for almost any situation. A knowledgeable Wisconsin mortgage loan specialist can match your unique situation with a great rate and financing program regardless if you are a first-time home buyer or a seasoned real estate investor.
Using the rate table
The majority of the mortgage companies represented in the rate survey on this page offer a variety of fixed rate (10, 15, 20, and 30 year terms) and adjustable rate financing solutions (3/1, 5/1, and 7/1 ARMs) for 1-4 unit residential properties (i.e. single family homes, duplexes, triplexes, and quadraplexes). These mortgage companies typically allow properties to be used as primary residences, second homes (aka vacation homes), or investment properties (rental homes). Rates often vary by occupancy type so you’ll need to speak with the various lenders and brokers to make sure that you qualify for what they have posted. Rates may also vary of other reasons including the type of property being financed. For exmaple, interest rates for condos may have pricing adjustments when compared to stand-alone, stick built homes. Be sure to speak with the various home loan providers directly to make sure that you have an accurate idea of pricing for your unique scenario.
Popular Mortgage Programs Offered Companies in the Rate Tables
- Fixed Rate Mortgages – Rates stay fixed for the lives of the loans. Most popular options are 30 and 15 year home loans but are also available in 20 and 10 year terms.
- Adjustable Rate Mortgages – These loans often have low introductory rates which remain in place for a set number of years. Most lenders offer adjustable rate mortgages with 3, 5, 7, and 10 year introductory rate periods. After the introductory rate periods end, rates then adjustable up or down based upon the loans’ margins, caps, and the indexes which the loans are tied to.
- Jumbo Loans – You can find jumbo mortgage pricing in the rate tables by typing in a corresponding loan amounts. Jumbo loans are used to finance loan amounts which exceed areas’ conforming loan limits. Many lenders offer jumbo loans in 30 and 15 year fixed rate terms as well as several adjustable rate options.
- FHA Loans – FHA mortgages are low down payment home loans which are available through lenders approved by the Federal Housing Administration. FHA pricing may not be on display in the tables at this time. You may need to contact the various mortgage companies directly to see if they’re offering FHA financing.
Other Resources for Finding Lender and Broker Information and Housing Related Groups in Wisconsin:
Wisconsin Mortgage Bankers Association – Website
PO Box 1606 Madison, WI 53701 PH: 608-255-4180
Wisconsin Association of Mortgage Brokers – Website
16 North Carroll St #900 Madison, WI 53703 PH: 608-259-9262
Wisconsin Credit Union League – Website
N25W23131 Paul Road Suite 500 Pewaukee, WI 53072 PH: 262-549-0200
The Wisconsin Partnership for Housing Development – Down payment assistance programs and counseling services – Website
List of Home Buyer Assistance Programs on HUD’s Site – Website