Best Mortgage Lenders in Wisconsin April 2026

Current Mortgage Rates in Wisconsin

Current mortgage rates in Wisconsin are generally stable and slightly lower than the national average. Here's a breakdown:

Fixed-rate mortgages:

• 30-year: Average around 6.13%, ranging from 5.75% to 6.95%. Slightly lower than the national average of 6.21%.
• 15-year: Average around 5.44%, offering significantly lower overall interest cost if you qualify.
• 5-year ARM: Average around 6.16%, providing initial flexibility but potentially higher future rates.

Other loan types:

• FHA loans: Average around 6.25% for 30-year terms, making them an option for borrowers with lower credit scores.
• VA loans: Average around 5.99% for 30-year terms, offering competitive rates for veterans and active-duty service members.
• Jumbo loans: Average around 6.40% for 30-year terms, typically slightly higher due to exceeding conforming loan limits.

4 of the Best Home Buyer Programs in Wisconsin 

WHEDA Advantage Conventional

With the WHEDA Advantage Conventional home buyer program in Wisconsin, eligible borrowers can get a reduced interest rate when buying a home in some rural counties in Wisconsin. It applies to single-family residences, condominiums, 2-4 units, and manufactured homes (double-wide).

Who Is It Available To? Those who buy want to buy property located in Wisconsin. It must also be owner-occupied for the life of the WHEDA loan. A minimum credit score of 620 is required.

Income Limits: Yes, it must be under Total Household Compliance Income limit

Is It Only for First-Time Homebuyers? No. 

Loan Options? Yes. 

Is There Down Payment and Closing Cost Assistance? Yes.

WHEDA Advantage FHA

The WHEDA Advantage FHA is a similar home buyer program in Wisconsin with many of the same benefits and eligibility requirements, except applicants must have a slightly higher credit score: 640. Additionally, it only applies to single-family residences, two-units, and HUD-approved condominiums.

Who Is It Available To? Those who want to purchase a home in certain Wisconsin counties. Other eligibility requirements apply.

Income Limits: Yes, it must be under Total Household Compliance Income limit

Is It Only for First-Time Homebuyers? No. 

Loan Options? Yes. 

Is There Down Payment and Closing Cost Assistance? Yes.

Easy Close Advantage Program

The Easy Close Advantage Program aims to give financial assistance to eligible applicants in Wisconsin so they can overcome the upfront costs associated with homeownership. 

Who Is It Available To? Borrowers in Wisconsin who qualify for a WHEDA Advantage mortgage. Eligible applicants must meet specific requirements, including good credit.

Income Limits: Yes.

Is It Only for First-Time Homebuyers? No. 

Loan Options: Yes.

Is There Down Payment and Closing Cost Assistance? Yes.

City of Madison: Home-Buy the American Dream

This city-specific program is worth considering for those eager to get their foot in the door of Madison housing. The Home-Buy the American Dream program offers a variety of incentives, such as low-interest loans and grants, to assist eligible applicants in purchasing their first home in Madison. 

Who Is It Available To? Eligible properties must be located in the City of Madison or Dane County, including single-family homes, condos, or one-half of a duplex.

Income Limits: Yes.

Is It Only for First-Time Homebuyers? Yes, unless it has been over three years since the buyer last owned a home.

Loan Options: Yes. 

Is There Down Payment and Closing Cost Assistance? Yes.

Closing: Best Wisconsin Home Buyer Programs

These give you an excellent idea of some of Wisconsin's home buyer programs and real estate financing options to help you achieve your home ownership goals. Stay updated with more helpful tips on becoming a homeowner on the Lendstart blog.