The Best Mortgage Lenders in Clear Lake, WI
Compare verified mortgage lenders serving Clear Lake, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Clear Lake
Featured Mortgage Lenders
Home State Bank
Home State Bank
Home State Bank is a highly-rated community bank with deep roots in Polk County and strong presence throughout Northwestern Wisconsin, including Clear Lake. With over a century of service, they offer personalized mortgage solutions and local decision-making. Their exceptional 4.8 rating reflects outstanding customer service, competitive rates, and deep understanding of rural and small-town property financing needs in the region.
Loan Types:
Royal Credit Union
Royal Credit Union
Royal Credit Union serves multiple communities throughout Western Wisconsin, including Clear Lake residents, with their comprehensive mortgage lending services. They maintain a 4.7 rating due to their competitive rates, extensive first-time homebuyer programs, and exceptional member service. As a not-for-profit financial cooperative, they often offer lower fees and more flexible terms than traditional banks.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established a strong presence in Northwestern Wisconsin with local loan officers serving the Clear Lake area. Their exceptional 4.9 rating comes from providing personalized service, competitive rates, and a wide variety of loan products. They specialize in both purchase and refinance transactions with efficient processing and local expertise combined with national lending capabilities.
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Frequently Asked Questions
Common questions about mortgage lending in Clear Lake, WI
Are there any local down payment assistance programs for first-time homebuyers in Clear Lake, WI?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers statewide programs like the WHEDA Advantage and Capital Access, which are popular in Clear Lake. These programs provide competitive rates, low down payments, and may offer down payment assistance in the form of a low-interest second mortgage. Additionally, Polk County may have specific community development grants, so it's wise to check with local lenders familiar with these resources.
How do seasonal economies, like tourism for the Clear Lake area, affect mortgage qualification for self-employed buyers?
Lenders in Clear Lake are accustomed to applicants with fluctuating incomes from seasonal businesses, agriculture, or tourism. You'll typically need to provide two years of complete tax returns to show your annual income average. A strong year-end profit, consistent or growing year-over-year income, and substantial reserves can help demonstrate stability to underwriters reviewing your application.
What are typical property tax rates in Clear Lake, and how do they impact my monthly mortgage payment?
Property tax rates in Polk County, where Clear Lake is located, are moderately high compared to national averages, often ranging from 1.5% to 1.8% of assessed value. Your lender will factor this into your debt-to-income ratio and monthly escrow payment. It's crucial to get an accurate tax estimate for your specific property, as taxes can vary between the village and surrounding township.
Are USDA Rural Development loans a viable option for homes in the Clear Lake area?
Absolutely. Most of the land surrounding Clear Lake qualifies for USDA Rural Development loans, which offer 100% financing (no down payment). This is a significant advantage for eligible buyers looking at properties just outside the village limits. A local mortgage officer can confirm the specific eligibility of a property's address using the USDA's online mapping tool.
How does the appraisal process work for unique or older properties in Clear Lake's housing market?
Given Clear Lake's mix of historic homes, lake properties, and rural acreage, appraisals require local expertise. Lenders will assign an appraiser familiar with the Polk County market who can properly compare unique features, land value, and the condition of older homes. For non-standard properties, be prepared for a more detailed appraisal process, which is essential for securing financing.
Why Choose a Mortgage Lender in Clear Lake?
Local Market Knowledge
Lenders who understand Clear Lake'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 Clear Lake and get competitive rates on your home loan.