The Best Mortgage Lenders in Benton, WI
Compare verified mortgage lenders serving Benton, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Benton
Featured Mortgage Lenders
Heartland Credit Union
Heartland Credit Union
Heartland Credit Union is one of southern Wisconsin's most trusted mortgage lenders with a strong presence in the Benton area. As a member-owned financial cooperative, they offer highly competitive rates and personalized service. Their mortgage team has extensive experience with rural properties and agricultural lending, making them particularly well-suited for the Benton community. They consistently receive outstanding reviews for their transparent process, local decision-making, and commitment to finding the right loan products for each borrower's unique situation.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Janesville
Fairway Independent Mortgage Corporation has built an exceptional reputation throughout southern Wisconsin with their Janesville branch serving the Benton area. They are consistently rated among the top mortgage lenders nationally for customer satisfaction and have received numerous industry awards. Their local loan officers have deep knowledge of the rural real estate market in Lafayette County and surrounding areas. Customers praise their efficient processing, competitive rates, and the educational approach they take with first-time homebuyers throughout the mortgage process.
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Guild Mortgage Company
Guild Mortgage Company - Madison
Guild Mortgage has established itself as a premier lender serving communities throughout Wisconsin, including the Benton area. With over 60 years in the mortgage industry, they bring substantial expertise and stability to the lending process. Their Madison office specifically serves southern Wisconsin rural communities and has developed specialized knowledge of the unique aspects of lending in agricultural areas. They are particularly noted for their exceptional customer service, flexible loan programs, and ability to close loans quickly even in complex situations.
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Frequently Asked Questions
Common questions about mortgage lending in Benton, WI
Are there any special mortgage programs for first-time homebuyers in Benton, WI?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers several programs, including low down payment options and competitive rates, which are widely accessible to Benton residents. Additionally, some local lenders may offer portfolio loans or grants specific to Lafayette County to assist with closing costs, making homeownership more attainable in the area's affordable market.
How do property taxes in Benton and Lafayette County impact my mortgage payment?
Lafayette County has relatively modest property tax rates compared to more urban areas of Wisconsin. Your lender will estimate these taxes for escrow, and it's wise to confirm the exact mill rate with the Lafayette County Treasurer. This predictability helps in budgeting for your total monthly mortgage payment in Benton's stable market.
What is the typical down payment needed for a home in Benton's market?
Given Benton's median home price is well below the state average, buyers often find they can secure conventional loans with a 5% down payment or FHA loans with 3.5% down. For the area's more affordable, older housing stock, a slightly higher down payment may be recommended to ensure the appraisal meets loan requirements.
Are USDA Rural Development loans available for homes in Benton, WI?
Absolutely. Benton and nearly all of Lafayette County are eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a highly popular and advantageous program in the area, perfect for buyers looking at properties just outside the village limits or in the surrounding countryside.
How does the appraisal process work for Benton's older or unique homes?
Appraising Benton's historic or more rural properties requires a lender who uses appraisers familiar with the local market. They will use comparable sales ("comps") from within Lafayette County or similar rural communities to accurately assess value, which is crucial for a smooth mortgage approval on a non-standard property.
Why Choose a Mortgage Lender in Benton?
Local Market Knowledge
Lenders who understand Benton's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Wisconsin.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Benton and get competitive rates on your home loan.