The Best Mortgage Lenders in Franklin, WI
Compare verified mortgage lenders serving Franklin, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Franklin
Featured Mortgage Lenders
Community State Bank
Community State Bank
Community State Bank stands out as Franklin's premier local mortgage lender with deep community roots spanning over a century. As a locally-owned and operated institution, they offer personalized service and competitive rates with loan officers who understand the Franklin real estate market intimately. Their high 4.8 rating reflects exceptional customer satisfaction, particularly for first-time homebuyers and those seeking construction loans. With multiple Franklin locations and digital mortgage capabilities, they combine traditional community banking values with modern lending technology.
Loan Types:
First Federal Mortgage of Wisconsin
First Federal Mortgage of Wisconsin
First Federal Mortgage of Wisconsin consistently earns top ratings for their exceptional service and competitive rates throughout southeastern Wisconsin, including Franklin. With a remarkable 4.9 rating based on hundreds of reviews, they specialize in making the mortgage process smooth and transparent. Their team of experienced loan officers provides personalized guidance through every step, from pre-approval to closing. They're particularly praised for their responsiveness and ability to close loans quickly, making them a top choice for both purchase and refinance transactions in the Franklin area.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - New Berlin Branch
Fairway Independent Mortgage Corporation brings national lending power with strong local presence through their nearby New Berlin branch that actively serves Franklin homebuyers. With nearly three decades of experience and thousands of 5-star reviews nationwide, their local team maintains a 4.8 rating for exceptional service in the Milwaukee metro area. They offer a comprehensive range of loan products with competitive rates and are particularly noted for their innovative technology platform that streamlines the application process. Their commitment to customer education and transparent communication makes them a top choice for Franklin residents seeking reliable mortgage services.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Franklin, WI
What are the current mortgage rates like for homebuyers in Franklin, WI, and how do they compare to state or national averages?
Mortgage rates in Franklin typically align closely with national averages, but local lenders may offer competitive rates due to the stable Milwaukee County housing market. As of recent trends, rates in Franklin are often slightly more favorable than in some higher-cost Wisconsin cities, but it's crucial to shop around with both local credit unions, like Landmark Credit Union, and national lenders to secure the best deal for your specific financial profile.
Are there any down payment assistance programs specifically for first-time homebuyers in Franklin?
Yes, first-time homebuyers in Franklin can access statewide programs like WHEDA (Wisconsin Housing and Economic Development Authority) Advantage Loans, which offer competitive rates and down payment assistance. Additionally, the City of Franklin itself does not currently administer its own program, but buyers should consult with local lenders familiar with WHEDA and other grants available to Milwaukee County residents to help cover down payment and closing costs.
How does Franklin's property tax rate impact my monthly mortgage payment and affordability?
Franklin has a relatively lower property tax rate compared to many other municipalities in Milwaukee County, which is a significant advantage for homeowners. This lower rate, combined with the city's high-quality services, means your escrowed monthly mortgage payment may be more affordable than in neighboring cities, directly increasing your purchasing power for a home in the area.
What should I know about appraisals and home values when getting a mortgage in Franklin's housing market?
Franklin's market features a mix of established neighborhoods and new developments, and appraisals must reflect this diversity. Lenders will closely compare your property to recent sales in specific subdivisions like Woodbridge or the newer areas near Ryan Road. Consistent demand and steady appreciation in Franklin mean appraisal gaps are less common than in volatile markets, but using a local appraiser familiar with the city's nuances is key.
Are there specific mortgage considerations for buying a home in one of Franklin's newer developments versus an older, established neighborhood?
Yes, financing a home in a new development may involve dealing with the builder's preferred lender, who might offer incentives, but it's wise to get an independent mortgage pre-approval. For older homes in established areas like Robinwood, lenders may pay extra attention to the age and condition of major systems (roof, HVAC) during underwriting, potentially requiring specific inspections or repairs as a loan condition.
Nearby Cities
Explore mortgage lenders in cities near Franklin, WI
Why Choose a Mortgage Lender in Franklin?
Local Market Knowledge
Lenders who understand Franklin'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 Franklin and get competitive rates on your home loan.