Best Mortgage Lenders in Milwaukee, WI
A mortgage allows Milwaukee residents to realize the dream of homeownership. Selecting and qualifying for a mortgage is a process that requires research and understanding, so we created this guide and a list of the best mortgage lenders in Milwaukee.
Top 12 Milwaukee Mortgage Companies
|BOK Financial Mortgage||Read 1,669 Reviews|
Offers conventional, jumbo, FHA, VA, USDA and Native American home loan programs plus mortgage refinancing. The Lock and Build program is available to finance new home construction. Direct mortgage lender.
|Mr. Cooper||Read 8,966 Reviews|
Offers conventional, FHA, VA and jumbo home loans nationwide. Refinances homes with FHA Streamline and VA IRRRL (interest rate reduction refinance loan). Provides convenient app. No online payment fees. Non-bank mortgage servicer.
|Toll free number (844) 505-4810|
|Vanderbilt Mortgage||Read 1,874 Reviews|
Specializes in financing for new or used manufactured, modular and mobile homes. Provides conventional, land-home, FHA and biweekly advantage mortgages. Down payments start at 3.5% of the total purchase price.
|Toll free number (855) 976-1445|
|ClearPath Lending||Read 838 Reviews|
Offers FHA, VA, conventional and jumbo loans for purchase, plus mortgage refinancing options. Lets customers track loan progress via an online portal. Funds most loans within 30 days.
|Toll free number (855) 980-6844|
|AmeriSave Mortgage||Read 2,830 Reviews|
Provides FHA, VA, USDA and jumbo purchase loans plus cash-out refinancing options. Gives accurate quotes within minutes. Prequalify and close in as little as 25 days. Direct mortgage lender.
|Toll free number (855) 794-5993|
|A Better Mortgage Co.||Read Expert Review|
Specializes in bad credit mortgages in Wisconsin. Offers a range of loans for all customers. Accepts credit scores as low as 500 in some cases. Loans with no closing costs available.
|Accunet Mortgage||Read Expert Review|
Offers preapproval guarantee. Pays you and the seller $1,000 each if it can’t make good on a preapproval letter. Provides several first-time homebuyer programs.
|BMO Harris Bank||Read Expert Review|
Offers $100 to $200 off mortgage closing costs with autopay from a BMO Harris checking account. Gives low down payment options. Provides rates as low as 3.75% on a 30-year fixed jumbo loan.
|First Centennial Mortgage||Read Expert Review|
Brokers a variety of mortgages from multiple lenders. Works with you one-on-one to tailor a financial solution. Searches to find you a below-market-rate loan.
|The Equitable Bank||Read Expert Review|
Offers 30-year fixed-rate mortgage rates in Milwaukee as low as 3.5%. Gives free and fast preapprovals with underwriting. Provides credit builder loan program for customers with bad credit.
|Wintrust Mortgage||Read Expert Review|
Provides a range of mortgage loans for Milwaukee customers. Offers VA refinancing. Loan originators walk you through the mortgage process.
|Wisconsin Wholesale Mortgage||Read Expert Review|
Works with first-time homebuyers, low-income borrowers and homeowners who want to refinance or invest in rental property. Offers aid for many types of financial situations. Certified VA loan specialist on staff.
Milwaukee real estate trends
A mortgage loan in Milwaukee gives buyers the opportunity to invest in a home in an area with many reasonably priced properties and a housing market with rising values. In neighborhoods like Bay View, Wauwatosa, Shorewood and Whitefish Bay, prices have been rising steadily due to high demand. Up-and-coming areas, like Riverwest, offer a great investment opportunity on single-family homes. Use our mortgage calculator to figure out how much house you can afford in Wisconsin.
The median home price in Milwaukee is about $120,000, and the median home price in Milwaukee’s most expensive neighborhood is less than $500,000. Many homes in Milwaukee sell for less than $75,000.
|Location (neighborhoods or suburbs)||Median home cost|
Finding a home loan in Milwaukee
The most popular mortgages in Milwaukee are conventional 15- and 30-year fixed-rate loans and FHA mortgages. Depending on the neighborhood in which you're buying a home, different loans might be better for you.
- Shorewood: This is one of Milwaukee’s wealthiest neighborhoods, with a median home price of $351,300. Larger or pricier homes in the neighborhood might exceed the Wisconsin limit for conforming loans. A jumbo loan may be an option for residents who want to buy a home in this neighborhood.
- Wauwatosa: This is a popular Milwaukee suburb where families settle and home prices are rising. The current median home price is $256,200. Homeowners in this historical neighborhood might decide to take out an FHA 203k renovation loan to upgrade and maintain their homes’ values.
- Brown Deer: First-time homebuyers can find good deals selling for below list price in this area. Adjustable-rate mortgages with low initial interest rates would make sense for buyers who want to take advantage of a deal and sell when prices rise. The current median home price is $178,600.
- Lower East Side: A bikeable and walkable neighborhood with a charming feel, Lower East Side has city amenities nearby and plenty of shops and restaurants on Brady Street. Historic bungalows and mansions, along with apartments and condos, are going up in price. The median home price is $237,400. Buying a home here with a government-backed FHA mortgage would be a good investment for a young family planning to stay for many years.
Choosing between Milwaukee mortgage lenders
When evaluating Milwaukee mortgage companies:
- Read online reviews: There is no easier way to gather information from multiple sources on several lenders than seeing what previous clients are saying.
- Ask friends and family for recommendations: Your friends and family members are an excellent source of trusted information.
- Gather quotes and compare rates: This is very important, as finding the best APR, rate and type of loan can save you thousands of dollars.
- Look for companies that belong to industry associations: Look for companies that are members of the Wisconsin Association of Mortgage Brokers or the Wisconsin Mortgage Bankers Association. Credentials are often listed on a company’s website next to the license number.
Online vs. brick-and-mortar lenders
Online mortgage companies are becoming more popular. Online mortgage companies are convenient for busy professionals and families and offer a streamlined process with the same loan options as traditional mortgage companies. For first-time homebuyers who need guidance through the process, visiting a local mortgage provider may provide a better educational experience. Investors looking to acquire rental property or buyers of second homes might look for online companies offering the lowest mortgage rates in Milwaukee.
Milwaukee home loan FAQ
- How quickly can you get a mortgage offer in Milwaukee?
- Typically, mortgage loans take 30 to 45 days to process and close.
- What credit score do you need to get a mortgage in Milwaukee?
- The typical minimum credit score for an FHA loan is 620. In some cases, your credit score can be as low as 500 as long as you meet other requirements.
- When should you refinance?
- When you refinance, you’re replacing your mortgage with a new one. If you have a solid credit score, this can be a fantastic way to get a lower interest rate or change a variable-rate mortgage to a fixed-rate mortgage.
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Milwaukee mortgage company information
Wisconsin Wholesale Mortgage is a broker that offers loans from a variety of lenders. It offers VA loans, fixed- and adjustable-rate conventional loans, jumbo loans, refinancing options and FHA loans. The lender also helps eligible borrowers with the HARP program. Wisconsin Wholesale Mortgage is a member of the National Association of Mortgage Brokers.
- Address: 2833 W. Layton Ave., Milwaukee, WI 53221
- Phone: (414) 376-6769
- Hours: M - F: 8:30am - 5pm
- Website: homemortgagemilwaukee.com
A Better Mortgage Co. helps find mortgages for customers with credit problems and past bankruptcies as well as self-employed borrowers with limited or alternative income documentation. It offers FHA, VA, WHEDA, reverse, jumbo, refinancing, remodeling and no-closing-cost loans in Milwaukee. The lender accepts credit scores as low as 500 in some cases. You can apply online, call or visit its office.
- Address: 4379 S. Howell Ave., Ste. 22, Milwaukee, WI 53207
- Phone: (414) 486-7929
- Hours: M - F: 9am - 5pm
- Website: abettermortgageco.com
First Centennial Mortgage is a broker that offers loans from a variety of lenders. A mortgage professional works with you to find the best loan for your needs. It offers VA, USDA, FHA, conventional fixed and adjustable, jumbo, FHA 203k and HomeStyle Renovation loans. The company also works with the local housing finance agency to provide eligible homebuyers with below-market-rate loans. First Centennial Mortgage is a member of the Mortgage Bankers Association. You can apply online and over the phone.
- Address: 342 N. Water St., Ste. 600, Milwaukee, WI 53202; Multiple locations
- Phone: (877) 463-2610
- Hours: M - F: 9am - 5pm
- Website: gofcm.com
Wintrust Mortgage originates all types of home loans, including conventional fixed- and adjustable-rate, construction, FHA, FHA 203k, investment property, jumbo, USDA, VA and VA refinancing. You can apply online, call or visit multiple Milwaukee locations. Loan originators guide you through the process and help you select the right mortgage for your finances. Online account management is available.
- Address: 1605 W. Mitchell St., Milwaukee, WI 53204; Multiple locations
- Phone: (414) 645-5892
- Hours: M - F: 9am - 5pm
- Website: wintrustmortgage.com
Accunet Mortgage specializes in lower rates and closing costs. It offers a $2,000 guarantee on preapprovals. Accunet Mortgage provides several first-time homebuyer programs, including the WHEDA low or $0 down payment loans in Wisconsin, for customers with a 620 minimum credit score. Accunet’s licensed loan professionals help you select the right loan for your situation, including fixed- or adjustable-rate, FHA, VA, bridge loans, jumbo and refinancing. Compare rates and loan requirements on the company’s website.
- Address: N16W23217 Stone Ridge Drive, Ste. 110, Waukesha, WI 53188
- Phone: (262) 781-1100
- Hours: M - F: 8:30am - 5pm
- Website: accunet.com
BMO Harris Bank offers fixed- or adjustable-rate mortgages in Milwaukee along with low down payment options such as FHA, Home Possible for low- to moderate-income buyers, special mortgages for physicians, jumbo and refinancing options. Get a rate as low as 3.75% on a 30-year fixed jumbo loan. BMO Harris Bank provides conventional 15-year fixed mortgages with rates as low as 3.375% with 20% down.
- Address: 8300 W. Silver Spring Drive, Milwaukee, WI 53218; Multiple locations
- Phone: (414) 466-8200
- Hours: M - F: 9am - 5:30pm
- Website: bmoharris.com
The Equitable Bank offers some of the lowest rates on conventional mortgages in Milwaukee. It provides loans for all types of borrowers and has a credit builder loan program for customers with bad credit to reestablish credit history before applying for a mortgage. Down payment assistance is also available. The company offers FHA, VA, WHEDA, conventional adjustable- and fixed-rate, construction, renovation and refinancing.
- Address: 2290 N. Mayfair Road, Milwaukee, WI 53226; Multiple locations
- Phone: (414) 858-6324
- Hours: M - Th: 9am - 5pm; F: 9am - 6pm; Sat: 9am - 12pm
- Website: theequitablebank.com
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