The Best Mortgage Lenders in Franksville, WI
Compare verified mortgage lenders serving Franksville, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Franksville
Featured Mortgage Lenders
Educators Credit Union Mortgage Department
Educators Credit Union
Educators Credit Union stands as one of southeastern Wisconsin's most trusted mortgage lenders with deep roots in Racine County. Serving Franksville residents for decades, ECU combines competitive rates with exceptional member service. Their mortgage specialists provide personalized guidance through every step of the home financing process, offering a comprehensive range of loan products including specialized first-time homebuyer programs. With numerous local branches and a strong community presence, they've built a reputation for reliability and customer satisfaction that makes them a top choice for Franksville homebuyers.
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Johnson Bank Mortgage Team
Johnson Bank (now part of Associated Bank)
With deep historical roots in Racine County, Johnson Bank (now operating as Associated Bank) has been serving Franksville and surrounding communities for generations. Their local mortgage experts understand the southeastern Wisconsin housing market intimately and provide tailored financing solutions for various property types. The bank offers competitive rates, flexible terms, and a streamlined application process backed by their longstanding commitment to community banking principles. Their experienced loan officers provide hands-on guidance from application to closing, making them a preferred choice for both purchase and refinance transactions in the Franksville area.
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Strong Home Mortgage
Strong Home Mortgage, LLC
Strong Home Mortgage has established itself as one of Wisconsin's premier mortgage brokerage firms, serving clients throughout southeastern Wisconsin including Franksville. As a broker, they leverage relationships with multiple lenders to secure highly competitive rates and terms for borrowers. Their team of experienced mortgage professionals provides white-glove service with an emphasis on communication and transparency throughout the lending process. Specializing in both traditional and complex financing scenarios, they've earned exceptional reviews for their responsiveness, expertise, and ability to close loans efficiently, making them an excellent choice for Franksville homebuyers seeking optimal mortgage solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Franksville, WI
Are there any first-time homebuyer programs specifically for Franksville, WI, that can help with down payment or closing costs?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers statewide programs that are widely used in Franksville, including low down payment options and down payment assistance grants. Additionally, Racine County, where Franksville is located, may have local Community Development Block Grant (CDBG) funds or other initiatives for income-eligible buyers. It's best to consult with a local lender familiar with these programs to determine your eligibility.
How do property taxes in Franksville and Racine County impact my mortgage payment and affordability?
Racine County property taxes are a significant component of your monthly mortgage escrow payment. Franksville's effective property tax rate is typically around 2.2% to 2.5% of assessed value, which is above the national average. When calculating your budget, lenders will include these taxes, so it's crucial to factor them in, as they can add several hundred dollars to your monthly payment compared to areas with lower rates.
What are typical mortgage rates offered by local lenders in the Franksville area, and are they competitive with national averages?
Mortgage rates in Franksville are generally aligned with national averages, as they are driven by broader financial markets. However, local credit unions like Educators Credit Union or smaller community banks may sometimes offer special promotions or relationship discounts. It's highly recommended to get quotes from at least one local institution and one national lender to ensure you're getting the best available rate and terms for your situation.
Does Franksville's location in a more rural part of Racine County affect the type of properties or loans I might need?
Yes, if you are looking at homes on larger lots or with acreage outside the village center, you may encounter properties that require specialized financing. For example, a property classified as "rural" by the USDA might qualify for a USDA loan, which offers 100% financing. Always confirm the property's eligibility with your lender, as standard conventional loans have specific requirements regarding property type and location.
What should I know about the local Franksville real estate market when getting pre-approved for a mortgage?
The Franksville market is competitive for well-priced, single-family homes, often receiving multiple offers. To be a strong contender, you need a solid pre-approval letter from a reputable local or national lender, not just a pre-qualification. Sellers favor buyers who can demonstrate proven financial readiness. Furthermore, be prepared for potential appraisal challenges if comparable sales in the area are limited, which can affect your loan contingency.
Why Choose a Mortgage Lender in Franksville?
Local Market Knowledge
Lenders who understand Franksville'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 Franksville and get competitive rates on your home loan.