The Best Mortgage Lenders in Coloma, WI
Compare verified mortgage lenders serving Coloma, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Coloma
Featured Mortgage Lenders
Forward Service Corporation
Forward Service Corporation
Forward Service Corporation is a highly-rated community development financial institution that serves rural communities throughout central Wisconsin, including Coloma. They specialize in affordable housing solutions and offer personalized mortgage counseling. Their team has extensive experience with USDA rural development loans, which are particularly relevant for Coloma area residents. They provide competitive rates and exceptional customer service with a strong focus on first-time homebuyer education and support.
Loan Types:
Associated Bank
Associated Bank, N.A.
Associated Bank is a well-established regional bank with a strong presence throughout Wisconsin, including service to Coloma area residents. They offer a comprehensive range of mortgage products with competitive rates and have built a reputation for reliable service and local decision-making. Their mortgage specialists understand the unique aspects of rural Wisconsin properties and provide personalized guidance through the entire home financing process. They maintain multiple branch locations throughout the region for convenient in-person service.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Central Wisconsin
Fairway Independent Mortgage Corporation has a highly-rated local team serving central Wisconsin communities including Coloma. They consistently receive outstanding customer reviews for their responsive service, competitive rates, and efficient loan processing. Their local loan officers have deep knowledge of the Coloma area real estate market and specialize in rural property financing. They offer a wide variety of loan programs and are particularly noted for their excellent communication throughout the mortgage process and ability to close loans quickly.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Coloma, WI
What are the typical mortgage rates for a home in Coloma, WI, and how do they compare to state averages?
Mortgage rates in Coloma are generally aligned with national and Wisconsin state averages, but local credit unions like Royal Credit Union often offer competitive rates. For a conventional 30-year fixed mortgage, rates in the Coloma area typically range within 0.125% of the state average. It's wise to get quotes from both local lenders and larger banks, as rural lenders sometimes offer special programs for areas like Coloma.
Are there any down payment assistance programs specifically for buyers in Coloma or Waushara County?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers down payment assistance and favorable loan terms for eligible buyers statewide, which is a key resource for Coloma residents. Additionally, some local lenders may have partnerships with community programs for Waushara County. First-time homebuyers should also inquire about any local grants or matched savings programs through organizations like the Central Wisconsin Community Action Council.
How does the appraisal process work for a rural property in Coloma, given the mix of agricultural and residential land?
Appraising rural properties in Coloma requires a specialist familiar with valuing land, outbuildings, and wells/septic systems, which are common. Lenders will often require a "rural appraisal," which can take longer and cost more than a standard urban appraisal. It's crucial to work with a lender experienced in the area to ensure the appraiser properly values the unique characteristics of your property.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Coloma?
Waushara County property taxes are relatively moderate, but you should verify the exact mill rate for the Town of Coloma. Homeowners insurance can be influenced by the rural setting, potentially requiring additional coverage for detached structures or a higher deductible for hail/wind damage. Your lender will help you set up an escrow account to manage these payments as part of your monthly mortgage bill.
Are USDA Rural Development loans a common and good option for buying a home in Coloma, WI?
Absolutely. Coloma is located in an area eligible for USDA Rural Development loans, which offer 100% financing (no down payment) for qualified buyers and properties. This is a highly popular and advantageous program in the area due to its rural designation. Income limits apply, but many Coloma households qualify, making it an excellent option for first-time and moderate-income buyers.
Why Choose a Mortgage Lender in Coloma?
Local Market Knowledge
Lenders who understand Coloma'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 Coloma and get competitive rates on your home loan.