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Wisconsin Mortgage and Refinance Rates

On Monday, July 22, 2024, the national average 30-year fixed mortgage APR is 6.90%. The national average 30-year fixed ... refinance APR is 6.89%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

Current mortgage rates in Wisconsin

As of Monday, July 22, 2024, current interest rates in Wisconsin are 6.86% for a 30-year fixed mortgage and 6.20% for a 15-year fixed mortgage.

While less than the national median, the median home sale price in the state was up more than 10 percent year-over-year as of December 2023, according to ATTOM — and the size of a down payment has increased over 25 percent in the last year. Those gains, plus today’s higher mortgage rate environment, continue to make housing affordability a challenge in The Badger State. In fact, Wisconsin’s homeownership rate dropped by several percentage points in 2023, from a high of nearly 72 percent at the year’s start.  

Refinance rates in Wisconsin

While mortgage refinance rates have more than doubled since the pandemic, many Wisconsin homeowners have much more tappable equity now — well over one-third of them (35.5 percent) are equity rich, meaning less than half their home is mortgaged. With a cash-out mortgage refinance or a home equity loan/line of credit, you could take advantage of this asset — your ownership stake in your home — to further your financial goals.

Learn more: Why and how to do a cash-out refinance

Wisconsin mortgage rate trends

While mortgage rates are difficult to predict, the current consensus is for rates to remain well above historical lows for the foreseeable future, including in Wisconsin.

Learn more: Latest mortgage rate forecast 

National mortgage rates by loan type

Product Interest Rate APR
30-Year Fixed Rate 6.85% 6.90%
15-Year Fixed Rate 6.29% 6.37%
5-1 ARM 6.43% 7.66%
30-Year Fixed Rate FHA 6.82% 6.86%
30-Year Fixed Rate VA 7.00% 7.05%
30-Year Fixed Rate Jumbo 6.94% 6.99%

Rates as of Monday, July 22, 2024 at 6:30 AM



Mortgage statistics for Wisconsin

Between 2010 and 2020, Wisconsin saw a 3.6 percent rise in its population, according to the U.S. Census Bureau. While its popularity has led to price increases, the cost of living is still relatively reasonable. If you’re planning on buying a home in The Badger State, here are a few stats to know:

  • Median home value (as of Dec. 2023): $269,900
  • Median Down Payment (as of Dec. 2023): $38,000
  • Homeownership rate (as of Dec. 2023): 67.2%
  • Most popular cities: Milwaukee, Madison, Green Bay, Racine, Appleton
  • Most affordable counties (as of Jan. 2024): Taylor, Clark, Price, Marinette, Ashland

Mortgage options in Wisconsin

There’s a variety of mortgage options available to homebuyers in Wisconsin. Here’s a rundown:

  • Wisconsin conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio no more than 45 percent. With a down payment of less than 20 percent, you’ll need to pay private mortgage insurance (PMI) premiums, as well.
  • Wisconsin FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to obtain a loan insured by the Federal Housing Administration (FHA). If you have a down payment of at least 3.5 percent, you could qualify for this type of loan with a credit score as low as 580. You could still qualify with a lower score (as low as 500), but you’ll need to put at least 10 percent down.
  • Wisconsin VA loans: If you’re a veteran or active-duty member of the military, you might be eligible for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25 percent to 2.15 percent.
  • Wisconsin USDA loans: If you’re buying a rural property in Wisconsin, you might be eligible for a mortgage guaranteed by the U.S. Department of Agriculture (USDA). Also known as a Rural Development loan, USDA loans don’t require a down payment, but you’ll need to purchase in a designated rural area and be below area-specific income limits.

First-time homebuyer programs in Wisconsin

The Wisconsin Housing and Economic Development Authority (WHEDA) oversees homebuyer programs for both first-time and repeat buyers. The state housing finance authority partners with private lenders to provide mortgages with below-average rates.

WHEDA also connects borrowers to down payment assistance. When combined, the WHEDA mortgage and down payment programs can provide as much as 100-percent financing for a home purchase.

Here’s an overview:

  • WHEDA Advantage Conventional: The Advantage Conventional program is a 30-year, fixed-rate mortgage that requires a credit score of 620 or better to qualify. Your income also can’t exceed certain area-specific limits.
  • WHEDA Advantage FHA: Similar to the conventional option, the WHEDA Advantage FHA mortgage is an FHA loan that requires a credit score of 640 or better, as well as a minimum down payment of 3.5 percent. A separate WHEDA down payment assistance (DPA) program can be used to meet this requirement (more on this follows).
  • WHEDA Easy Close DPA: The WHEDA Easy Close DPA provides a loan to help with a down payment, ranging from $1,000 to 6 percent of the purchase price. The loan comes in the form of a 10-year, fixed-rate second mortgage with the same interest rate as the primary mortgage. It can be combined with either WHEDA mortgage to fund 100 percent of the home purchase.
  • WHEDA Capital Access DPA: The Capital Access DPA offers $7,500 towards your down payment in the form of a 30-year fixed-rate mortgage with no interest and no monthly payments. The income limits on this program, however, are generally lower than those of the Easy Close DPA.

Along with these programs, WHEDA offers an interest rate reduction for borrowers buying in specific rural counties. To date, the eligible counties are:

  • Ashland
  • Barron
  • Bayfield
  • Burnett
  • Clark
  • Crawford
  • Iron
  • Jackson
  • Juneau
  • Marinette
  • Marquette
  • Oconto
  • Rusk
  • Sawyer 
  • Trempealeau

How to find the best mortgage rate in Wisconsin for you

  • Step 1: Strengthen your credit score - Long before you start looking for a mortgage lender or applying for a loan, give your finances a checkup, and improve your credit score if needed.
  • Step 2: Determine your budget - To find the right mortgage, you’ll need a good handle on how much house you can afford.
  • Step 3: Know your mortgage options - There are a few different types of mortgages.
  • Step 4: Compare rates and terms from several lenders - Rate-shop with at least three different banks or mortgage companies.
  • Step 5: Get preapproved for a mortgage - Getting a mortgage preapproval is the only way to get an accurate loan amount and cost for your specific situation.

Learn more: How to get a mortgage

Lender compare

Compare mortgage lenders side by side

Mortgage rates and fees can vary widely across lenders. To help you find the right one for your needs, use this tool to compare lenders based on a variety of factors. Bankrate has reviewed and partners with these lenders, and the two lenders shown first have the highest combined Bankrate Score and customer ratings. You can use the drop downs to explore beyond these lenders and find the best option for you.

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Garden State Home Loans

NMLS: 473163

State License: MB-473163


Rating: 3.6 stars out of 5
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Recent Customer Reviews

Rating: 4.98 stars out of 5



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NMLS: 2289

State License: 4965


Rating: 4.5 stars out of 5
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Recent Customer Reviews

Rating: 4.94 stars out of 5



Additional Wisconsin mortgage resources

Meet our Bankrate experts

Written by: Andrew Dehan, Writer, Home Lending

I’ve covered mortgages, real estate and personal finance since 2020. At Bankrate, I’m focused on all of the factors that affect mortgage rates and home equity. I enjoy distilling data and expert advice into takeaways borrowers can use. Prior to Bankrate, I wrote and edited for Rocket Mortgage/Quicken Loans. My work has been published by Business Insider, Forbes Advisor, SmartAsset, Crain’s Business and more.

Read more from Andrew Dehan

Edited by: Suzanne De Vita, Senior Editor, Home Lending

I’ve covered the housing market, mortgages and real estate for the past 12 years. At Bankrate, my areas of focus include first-time homebuyers and mortgage rate trends, and I’m especially interested in the housing needs of baby boomers. In the past, I’ve reported on market indicators like home sales and supply, as well as the real estate brokerage business. My work has been recognized by the National Association of Real Estate Editors.

Read more from Suzanne De Vita