The Best Mortgage Lenders in Elkhorn, WI
Compare verified mortgage lenders serving Elkhorn, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Elkhorn
Featured Mortgage Lenders
Mike Gagliano
Fairway Independent Mortgage Corporation - Lake Geneva
Mike Gagliano and his team at Fairway Independent Mortgage are consistently rated among the top mortgage lenders in the Lake Geneva area, which serves Elkhorn residents. With over 185 excellent reviews and nearly two decades of experience, they specialize in personalized service and competitive rates. Fairway Independent Mortgage has been in business since 1996 and maintains an A+ BBB rating. Their local expertise in Walworth County makes them particularly knowledgeable about Elkhorn's real estate market, and they offer a comprehensive range of loan products with a focus on customer education throughout the homebuying process.
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Associated Bank
Associated Bank maintains a physical branch location right in Elkhorn, providing convenient in-person mortgage services to local residents. As a established regional bank with deep roots in Wisconsin, they offer the stability of a large financial institution with local decision-making. They have been serving Wisconsin communities for decades and maintain strong relationships with local real estate professionals. Their mortgage specialists provide personalized service with competitive rates, and their local presence allows for face-to-face consultations throughout the loan process. They offer a full range of mortgage products with particular strength in construction loans and home equity solutions.
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Johnson Bank (now part of Old National Bank)
Johnson Bank, which recently merged with Old National Bank, has maintained a strong presence in Elkhorn with a local branch that provides comprehensive mortgage services. With decades of experience serving southern Wisconsin communities, they offer competitive mortgage products and local underwriting expertise. Their mortgage specialists have extensive knowledge of the Elkhorn area market and provide personalized service with the backing of a regional banking institution. They are particularly strong in construction and lot loans, making them an excellent choice for buyers looking to build in the Elkhorn area. The merger with Old National has expanded their lending capacity while maintaining local service.
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Frequently Asked Questions
Common questions about mortgage lending in Elkhorn, WI
What are the current mortgage rates like in Elkhorn, WI, and how do they compare to state or national averages?
Mortgage rates in Elkhorn are generally aligned with national averages, but local lenders may offer competitive terms. As a community within Walworth County, rates can be slightly influenced by the local housing market's stability and demand. It's advisable to compare offers from both local credit unions, like Community State Bank, and larger national lenders to secure the best rate.
Are there any down payment assistance programs specifically for first-time homebuyers in Elkhorn?
Yes, first-time homebuyers in Elkhorn can access statewide Wisconsin programs like WHEDA (Wisconsin Housing and Economic Development Authority) loans, which offer competitive rates and down payment assistance. Additionally, local lenders may have partnerships or knowledge of county-level initiatives in Walworth County designed to help buyers with closing costs or down payments.
How does Elkhorn's property tax rate affect my mortgage payments and affordability?
Elkhorn's property tax rate is a key factor in your total monthly payment. Walworth County's rates are generally moderate for Wisconsin, but the City of Elkhorn's specific mill rate will directly impact your escrow. Your lender will calculate this into your debt-to-income ratio, so it's crucial to get an accurate tax estimate when determining your homebuying budget in the area.
What type of property appraisal challenges are common in Elkhorn's housing market?
In Elkhorn's mixed market of historic homes near the downtown square and newer subdivisions, appraisals must accurately compare unique properties. Appraisers need to find appropriate "comps" in a smaller city, which can sometimes be challenging for non-standard lots or recently renovated older homes. Working with a lender familiar with the local market can help ensure a smooth appraisal process.
Are USDA rural housing loans available for homes in Elkhorn, WI?
Most of Elkhorn itself is not eligible for USDA rural development loans, as it is considered a suburban area. However, some properties on the outskirts or in surrounding townships in Walworth County may qualify. For Elkhorn proper, buyers typically utilize conventional, FHA, or WHEDA loan programs instead.
Why Choose a Mortgage Lender in Elkhorn?
Local Market Knowledge
Lenders who understand Elkhorn'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 Elkhorn and get competitive rates on your home loan.