Compare mortgage rates and fees for leading lenders in Milwaukee, WI. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Milwaukee.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Milwaukee. Plus, shopping lenders is free and there is no obligation.
April 7, 2020
The current average rate for a 30 year fixed rate mortgage in Milwaukee is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Milwaukee. Understand how much you need to earn to afford a home in Milwaukee, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Milwaukee fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Milwaukee is right for you.
The median home value for Milwaukee, WI is $178,054
Based on current mortgage rates and a 10% down payment, you need to make $32,045 per year to buy the median priced home in Milwaukee
With this income, you could qualify for a $160,249 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Milwaukee is $742
The median household income for Milwaukee, WI is $49,340
Based on this income, you can afford a home valued at approximately $274,152
The home price you can afford to buy based on household income in Milwaukee is 154% of the median home value which means housing prices are average. Milwaukee ranks 64 out of 72 counties in Wisconsin and 2,465 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Milwaukee, WI is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Milwaukee below.
Conforming loan limits for Milwaukee, WI
FHA loan limits for Milwaukee, WI
VA loan limits for Milwaukee, WI