Wisconsin Mortgage and Refinance Rates

Current mortgage rates in Wisconsin

As of Saturday, May 03, 2025, current interest rates in Wisconsin are 6.61% for a 30-year fixed mortgage and 5.80% for a 15-year fixed mortgage.

Mortgage rates in Wisconsin 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 the state of Wisconsin, plan to shop around and compare rates from at least three different lenders.

Refinance rates in Wisconsin

Wisconsin refinance rates are higher than they were a few years ago during the pandemic. However, that hasn’t stopped many homeowners from refinancing. In January 2025, just over 3,400 Wisconsinites refinanced their homes, according to ATTOM. That’s an increase of 6.4 percent year over year.

Despite the increased popularity of refinancing in Wisconsin, it’s not a good time for everyone to refinance their mortgages. You might have trouble finding a more favorable interest rate right now, especially if you purchased your home at the height of the market. However, if you've owned your home for a long time, you likely have a lot of equity built up due to rising home values. With a cash-out refinance, you could use that equity to put toward other projects or expenses.

National mortgage rates by loan type

Wisconsin mortgage rate housing market statistics and trends

Current mortgage rates in Wisconsin have mirrored national trends. Rates hovered around 7 percent for most of 2024, before hitting a low of around 6.2 percent in September. Since then, 2025 has seen rates climbing above 7 percent. However, while mortgage rates are hard to predict, many housing economists expect that 30-year mortgage rates will settle back between 6 and 7 percent for the remainder of 2025.

But it’s not just mortgage rates that are making homeownership in Wisconsin more expensive — the cost of housing in the state has been increasing as well. This is especially true in Wisconsin’s most popular areas, like Milwaukee. In January 2025, the median home sales price in Milwaukee grew 13.6 percent year over year to $255,500, according to ATTOM data. Statewide, the median home sales price in January 2025 was $290,000 — a 11.6 percent increase from one year earlier, per ATTOM data.

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 sales price, February 2025: $310,800 
• Median down payment, January 2025: $40,000 
• Median days on market, February 2025: 61 
• Newly listed homes: 12.6% lower YoY 
• Homeownership rate, Q4 2024: 68.8%

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

Mortgage options in Wisconsin

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.

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.

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 (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 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.

How to find the best mortgage rate in Wisconsin for you

Additional Wisconsin mortgage resources

• Wisconsin first-time homebuyer resources: Get more help becoming a homeowner.
• Wisconsin loan limits by county: Learn the conforming loan limit for your city or town.
• Wisconsin mortgage lenders: Explore mortgage lenders in your state.
• Mortgage calculator: Estimate your monthly payments, and get an idea of your total interest costs over the life of the loan.
• Homeowners insurance in Wisconsin: Learn all about the ins and outs of protecting your property. 

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: Chris Jennings, Editor, Home Lending

I’ve been writing and editing about mortgages and personal finance since 2016. At Bankrate, my primary focus involves covering mortgage and real estate trends. I enjoy simplifying complex mortgage topics for first-time homebuyers and homeowners alike. I graduated from Illinois State University with a Bachelor of Arts in English.

Read more from Chris Jennings