The Best Mortgage Lenders in Phillips, WI
Compare verified mortgage lenders serving Phillips, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Phillips
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly-rated national mortgage lender with a strong reputation for competitive rates and exceptional customer service. Founded in 2003, they specialize in serving diverse borrower needs, including first-time homebuyers and those in rural areas like Phillips, WI. With an A+ BBB rating and numerous positive reviews highlighting their efficient online process and personalized support, they are a top choice for Wisconsin residents seeking reliable mortgage solutions.
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loanDepot
loanDepot
loanDepot is a leading national mortgage lender known for its innovative technology and customer-centric approach. Established in 2010, they offer a wide range of loan products with competitive rates, making them accessible to borrowers in Phillips, WI, and beyond. With high ratings from sources like the BBB and thousands of satisfied customers praising their quick approvals and transparent process, loanDepot provides a dependable option for those seeking efficient mortgage services.
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Investors Community Bank
Investors Community Bank
Investors Community Bank is a Wisconsin-based institution with deep roots in the state, offering personalized mortgage services to residents in Phillips and surrounding areas. Founded in 1997, they excel in providing competitive rates and flexible loan options, particularly for rural and community-focused borrowers. With high customer satisfaction ratings, a commitment to local service, and a reputation for reliability, they are a trusted choice for home financing in northern Wisconsin.
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Frequently Asked Questions
Common questions about mortgage lending in Phillips, WI
What are the typical down payment requirements for homes in Phillips, WI, given the local market?
In Phillips, many homes are priced below state averages, which can make lower down payment options more accessible. Conventional loans often require 5-10% down, but you may qualify for an FHA loan with as little as 3.5% down. Local lenders are familiar with appraising rural and recreational properties common in the area, which can influence specific requirements.
Are there any local or state-specific first-time homebuyer programs that are particularly useful in Phillips?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers several programs ideal for Phillips buyers, including low fixed-rate mortgages and down payment assistance. The WHEDA Advantage program is popular, offering competitive rates and flexible credit guidelines, which can be especially helpful for first-time buyers in Price County's more modest income brackets.
How does the seasonal economy and recreational property market in Phillips affect mortgage lending?
Phillips's economy is tied to tourism, logging, and seasonal recreation, which lenders consider when reviewing income stability. For financing cabins or lake homes on properties like the Phillips Chain of Lakes, you may face stricter requirements, such as a higher down payment or a larger reserve fund, compared to a primary residence.
What should I know about property taxes and insurance when calculating my mortgage payment in Phillips?
Price County property taxes are generally moderate, but it's wise to get an estimate from the county treasurer. Homeowners insurance can vary; if your property is in a wooded area, you may need additional coverage for wildfire risk, and if it's near water, flood insurance might be recommended, both of which will affect your total monthly payment.
Are USDA Rural Development loans available for homes in Phillips, WI, and what are the benefits?
Absolutely. Phillips 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 major advantage for buyers looking at homes just outside the city limits, as it significantly reduces the upfront cash needed to purchase.
Why Choose a Mortgage Lender in Phillips?
Local Market Knowledge
Lenders who understand Phillips'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 Phillips and get competitive rates on your home loan.