Wisconsin mortgage and refinance rates

Mortgage rates in Wisconsin peaked near 8 percent in 2023 and have been slowly but steadily declining since. The rates you receive will vary based on things like your credit score, the local housing market in the city you plan to buy and larger factors at play like inflation. To find the best deal on a mortgage or refinanced mortgage in Wisconsin, plan to shop around and compare rates from at least three different lenders.

Wisconsin refinance rates are lower than they were earlier this year, and significantly lower than they were in 2023. If you purchased in the last few years, today's rates may make refinancing attractive. Real estate data provider ATTOM found that as of July, the number of refinance loans in Wisconsin has grown 9.8 percent year-over-year. And if you're part of the one-third of Wisconsin homeowners who are equity-rich (meaning you own more than 50 percent of your home), a cash-out refinance could let you turn that equity into funds for renovations or other goals.

Mortgage rates in Wisconsin have mirrored national trends, but it’s not just rates that are making homeownership in the state more expensive — home prices have been increasing as well. This is especially true in Wisconsin’s most popular areas. If you’re planning on buying a home in The Badger State, here are a few stats to know to help guide your research:

• Median home sale price, August 2025: $342,400
• Median days on market, August 2025: 48
• Median down payment, July 2025: $50,000
• Percentage of homes sold above list price, August 2025: 39.2%
• Percentage of homes with price drops, August 2025: 22.7%
• Homeownership rate, Q1 2025: 69.9%

Sources: ATTOM, Redfin, U.S. Census Bureau

If you'll need to finance a home purchase in Wisconsin, here are some mortgage types you might consider:

• Wisconsin conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum 620 credit score and a debt-to-income (DTI) ratio of no more than 45 percent. With a down payment of less than 20 percent, you’ll need to pay private mortgage insurance (PMI), 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 for the first use.
• 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.

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.

Also, if you’re buying a property in a rural area in 15 counties, the WHEDA’s Rural Target Area program may help you secure one of the best mortgage rates in Wisconsin due to its reduced rate option.

• 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 program (DPA) can be used to meet this requirement.
• 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 toward 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. This program will be unavailable through the end of 2025 due to a lack of funds.