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Wisconsin Mortgage Rates

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Use SmartAsset's mortgage rate comparison tool to compare mortgage rates from the top lenders and find the one that best suits your needs.

Overview of Wisconsin Mortgages

Famous for its farms, lakeshores, breweries and football, Wisconsin has a lot to offer its residents. America’s Dairyland ranks roughly in the middle of the U.S. in terms of both size and population. Mortgage rates in Wisconsin used to be well above national averages, but rates have dropped in recent years. Wisconsin county-level conforming loan limits are uniform, while FHA limits vary more.

Today's Mortgage Rates in Wisconsin

Product Today Last Week Change
30 year fixed 3.37% 3.25% +0.12
15 year fixed 2.81% 2.84% -0.03
5/1 ARM 3.00% 3.00% 0.00
30 yr fixed mtg refi 3.06% 3.29% -0.23
15 yr fixed mtg refi 2.75% 3.06% -0.31
7/1 ARM refi 2.88% 3.63% -0.75
15 yr jumbo fixed mtg refi 2.69% 2.69% 0.00

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Historical Mortgage Rates in Wisconsin

Photo Credit: ©iStock.com/benkrut

Wisconsin Mortgage Rates Quick Facts

  • Median Home Value: $169,300 (U.S. Census Bureau)
  • Loan Funding Rate: 61.57% (CFPB)
  • Average Mortgage Rate: 4.66% (FHFA)
  • Homeownership Rate: 67.9% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,418 (U.S. Census Bureau)

Prior to 2009, mortgage rates in Wisconsin were quite high when compared to national averages. However, over the last decade or so, rates have shrunk a bit, falling closer in line with nationwide marks.

A financial advisor in Wisconsin can help you plan for the homebuying process. Financial advisors can also help with investing and financial plans, including tax, retirement and estate planning, to make sure you are preparing for the future.

Wisconsin Historic Mortgage Rates

YearWisconsin RateU.S. Rate
198213.7914.73
198311.9712.26
198411.9411.99
198511.1911.17
19869.839.79
19879.098.95
19889.428.98
198910.099.81
19909.889.74
19919.269.07
19928.187.83
19937.306.93
19947.507.31
19957.997.69
19967.777.58
19977.737.52
19987.096.97
19997.257.14
20008.067.86
20017.036.94
20026.476.44
20035.695.67
20045.755.68
20055.915.85
20066.566.54
20076.496.42
20086.136.06
20095.065.05
20104.744.81
20114.574.56
20123.643.65
20133.853.84
20144.184.13
20153.883.88
20163.763.73
20174.064.03
20184.664.56

Wisconsin Mortgages Overview

Wisconsin homes are generally affordable compared to many other parts of the U.S. The median price of homes sold in the state is $219,900, while the U.S. median is $237,000, according to Zillow data.

The conforming loan limit for every Wisconsin county is the standard $510,400. FHA loan limits see more variation, though, as 11 counties have a cap above the standard $331,760. They are Columbia, Dane, Green, Iowa, Kenosha, Milwaukee, Ozaukee, Pierce, St. Croix, Washington and Waukesha.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Adams$510,400$331,760
Ashland$510,400$331,760
Barron$510,400$331,760
Bayfield$510,400$331,760
Brown$510,400$331,760
Buffalo$510,400$331,760
Burnett$510,400$331,760
Calumet$510,400$331,760
Chippewa$510,400$331,760
Clark$510,400$331,760
Columbia$510,400$333,500
Crawford$510,400$331,760
Dane$510,400$333,500
Dodge$510,400$331,760
Door$510,400$331,760
Douglas$510,400$331,760
Dunn$510,400$331,760
Eau Claire$510,400$331,760
Florence$510,400$331,760
Fond Du Lac$510,400$331,760
Forest$510,400$331,760
Grant$510,400$331,760
Green$510,400$333,500
Green Lake$510,400$331,760
Iowa$510,400$333,500
Iron$510,400$331,760
Jackson$510,400$331,760
Jefferson$510,400$331,760
Juneau$510,400$331,760
Kenosha$510,400$368,000
Kewaunee$510,400$331,760
La Crosse$510,400$331,760
Lafayette$510,400$331,760
Langlade$510,400$331,760
Lincoln$510,400$331,760
Manitowoc$510,400$331,760
Marathon$510,400$331,760
Marinette$510,400$331,760
Marquette$510,400$331,760
Menominee$510,400$331,760
Milwaukee$510,400$339,250
Monroe$510,400$331,760
Oconto$510,400$331,760
Oneida$510,400$331,760
Outagamie$510,400$331,760
Ozaukee$510,400$339,250
Pepin$510,400$331,760
Pierce$510,400$382,950
Polk$510,400$331,760
Portage$510,400$331,760
Price$510,400$331,760
Racine$510,400$331,760
Richland$510,400$331,760
Rock$510,400$331,760
Rusk$510,400$331,760
St. Croix$510,400$382,950
Sauk$510,400$331,760
Sawyer$510,400$331,760
Shawano$510,400$331,760
Sheboygan$510,400$331,760
Taylor$510,400$331,760
Trempealeau$510,400$331,760
Vernon$510,400$331,760
Vilas$510,400$331,760
Walworth$510,400$331,760
Washburn$510,400$331,760
Washington$510,400$339,250
Waukesha$510,400$339,250
Waupaca$510,400$331,760
Waushara$510,400$331,760
Winnebago$510,400$331,760
Wood$510,400$331,760

Wisconsin was actually one of the very first states to require sellers to disclose property defects. Those laws still stand, and sellers must fill buyers in on the status of sewage disposal, insulation, the quality of the home structure and common interests like homeowners’ association fees. While this protects buyers, a home inspection is still the best way to feel confident in a property purchase.

30-Year Fixed Mortgage Rates in Wisconsin

If you are in the market for a mortgage in the Badger State, you will inevitably come across the 30-year fixed-rate mortgage. This is the most common home loan option for buyers. It offers lower payments and a fixed interest rate. It can be easier to budget for your monthly mortgage payments with this home loan because your payments will remain the same for the duration of the loan, unless you refinance.

You can also choose a 15-year fixed-rate mortgage which will allow you to pay off your loan in half the time and you’ll pay less in interest, but you can expect your monthly payments to be higher.

The average Wisconsin rate for a fixed 30-year mortgage is 3.82%.

Wisconsin Jumbo Loan Rates

Wisconsin county conforming loan limits are all at the standard $510,400. This tells you that homes in the state are generally affordable. If you take out a loan to pay for your dream home anywhere in Wisconsin and that loan is bigger than $510,400, you will have what is known as a “jumbo loan.” Jumbo loans are loans that exceed the conforming loan limit of a particular county.

If you do need to take out a home loan that’s great than $510,400 in Wisconsin, you should be aware that jumbo loans have higher interest rates. Conforming loans can be re-sold on the secondary mortgage market and are subject to normal interest rates, but because jumbo loans are riskier for lenders to issue, they are accompanied by larger interest rates. That might be reason enough to stick with a home that fits more comfortably within your budget.

The average jumbo loan rate in Wisconsin is 3.94%.

Wisconsin ARM Loan Rates

Adjustable-rate mortgages (ARMs) stand in contrast to fixed-rate mortgages in that their interest rate changes over the life of the loan. Generally, an adjustable-rate mortgage will have a lower interest rate for an introductory period of one, three, five, seven or 10 years. Once that period comes to an end, the interest rate is free to go up or down, but it usually rises.

Before you decide whether an ARM is the right home loan option for you, you should be aware that the terms of the loan will specify how many times the interest rate can change, as well as the maximum possible level that it can reach. So you are not totally at the whim of the lender; you know from the get-go what the interest rate cap is.

The average rate for an ARM in Wisconsin is 4.00%.

Wisconsin Mortgage Resources

Badger State buyers can work with state and national programs to help reduce the financial load of buying a house.

The Wisconsin Housing and Economic Development Authority (WHEDA) has a wide range of programs available for buyers:

  • Easy Close Advantage Down Payment Assistance - Buyers who qualify for a WHEDA loan may also be eligible for closing cost and down payment assistance in the form of a low cost, fixed- interest rate loan.
  • WHEDA Tax Advantage - Those who are eligible for a WHEDA loan can apply for the tax advantage program, which cuts down on the amount of federal taxes a buyer owes by claiming up to 40% of annual mortgage interest as a tax credit.
  • First Time Homebuyer Advantage - There are fixed-rate mortgages available which are priced below the standard mortgage rate for first-time homebuyers. Veterans and buyers in select areas are also eligible for this program.

Available Resources

ResourceProblem or IssueWho Qualifies
Wisconsin Housing and Economic Development AuthorityHomebuyer program for affordable loans, down payment assistance, tax credits and home rehabilitation assistance.Eligible homebuyers who fit an income limit or are purchasing in a targeted neighborhood.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

Wisconsin is eligible for the United States Department of Agriculture Rural Development program, which helps residents in rural communities secure affordable housing. Qualifying residents can get loans or grants to put toward buying a home or repairing their current home.

Wisconsin Mortgage Taxes

Before you buy or sell a house in Wisconsin, be aware that there are taxes on real estate transfers. In the Badger State, those taxes come to $0.30 per $100, or 0.3%. Wisconsin sellers usually pay this tax.

One perk of homeownership is that owners are allowed to deduct the mortgage interest they pay throughout the year from their taxable income when they file their federal income taxes. Wisconsin homeowners can also take that deduction when they are filing state taxes.

Wisconsin Mortgage Refinance

If you’re looking to refinance in Wisconsin, the first thing to remember is that you have options. You can work with the lender who issued your original mortgage to come up with a new plan that better fits your current situation. You are also free to look around at other lenders’ refinance rates and see if you can find something more competitive.

Other resources in Wisconsin are the High Loan-to-Value Refinance Option from Fannie Mae. These were created to essentially replace the now defunct Home Affordable Refinance Program, or HARP.

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2017 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset