The Best Mortgage Lenders in Mercer, WI
Compare verified mortgage lenders serving Mercer, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Mercer
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a highly reputable lender with over 28 years of experience, known for its exceptional customer service and competitive rates. They specialize in serving rural communities like Mercer, WI, and are praised for their personalized approach, fast loan processing, and wide range of loan options. Their high ratings and substantial review count reflect consistent customer satisfaction and reliability in the Wisconsin market.
Loan Types:
New American Funding
New American Funding
New American Funding is a top-rated mortgage lender with a strong national presence and dedicated service in Wisconsin. Founded in 2003, they offer competitive rates and a diverse portfolio of loan products, emphasizing customer satisfaction and efficient processing. Their high review counts and ratings highlight their commitment to helping borrowers in areas like Mercer with both online and local support.
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Caliber Home Loans Inc.
Caliber Home Loans Inc.
Caliber Home Loans is a well-established lender known for its reliable service and competitive mortgage solutions, with a strong regional presence in the Midwest, including Mercer, WI. Founded in 2008, they have built a reputation for streamlined processes, excellent customer support, and a variety of loan options tailored to rural and urban borrowers alike. Their consistent ratings and review counts demonstrate trust and satisfaction among clients.
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Frequently Asked Questions
Common questions about mortgage lending in Mercer, WI
Are there any local or county-specific down payment assistance programs available for homebuyers in Mercer, WI?
Yes, Iron County, where Mercer is located, offers the Iron County Housing Authority's First-Time Homebuyer Program. This program can provide eligible buyers with down payment and closing cost assistance in the form of a low-interest, deferred loan. It's a valuable local resource, especially given the area's more modest income levels compared to state averages.
How does the prevalence of waterfront and recreational properties in the Mercer area affect the mortgage process?
Financing a cabin or lakefront home in the Mercer area often requires a specialized appraisal to account for the value of the waterfront frontage, dock, and septic systems common in the Northwoods. Lenders may have stricter requirements on property condition and may consider these as non-warrantable "second homes," which can influence down payment requirements and available loan products compared to a primary residence.
What are typical property taxes for a home in Mercer, and how do they impact mortgage affordability?
Iron County has relatively low property tax rates compared to much of Wisconsin. For 2023, the gross tax rate for the Town of Mercer was approximately $17.50 per $1,000 of assessed value. While this is favorable, buyers should still budget carefully, as the assessed value of a property with lake access can be higher, and taxes are a key component of your total monthly mortgage payment (PITI).
As a remote worker considering moving to Mercer, will lenders accept my out-of-state employment income?
Absolutely. Lenders are increasingly familiar with remote work arrangements, especially in desirable relocation areas like Mercer. You will need to provide standard income verification (pay stubs, W-2s) and a letter from your employer confirming your remote work status is permanent or ongoing. Your debt-to-income ratio will be calculated the same as for any other borrower.
Are USDA Rural Development loans a viable option for mortgages in Mercer, WI?
Yes, this is one of the most relevant loan programs for the area. The entire town of Mercer and surrounding Iron County are eligible for USDA RD loans, which offer 100% financing (no down payment) for eligible borrowers and properties. This is a major advantage for buyers in this rural region, making homeownership more accessible despite potentially lower local wages.
Nearby Cities
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Why Choose a Mortgage Lender in Mercer?
Local Market Knowledge
Lenders who understand Mercer'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 Mercer and get competitive rates on your home loan.