The Best Mortgage Lenders in Somers, WI
Compare verified mortgage lenders serving Somers, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Somers
Featured Mortgage Lenders
Johnson Bank Mortgage Team
Johnson Bank
Johnson Bank has been serving southeastern Wisconsin communities for over 50 years with a strong focus on personalized mortgage services. Their mortgage team consistently receives high marks for local expertise, competitive rates, and exceptional customer service. As a community-focused bank with deep roots in the region, they understand the unique needs of Somers homebuyers and offer comprehensive guidance through the entire mortgage process. Their local decision-making and relationship-based approach make them a top choice for residential lending in Kenosha County.
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Landmark Credit Union Mortgage Services
Landmark Credit Union
Landmark Credit Union has been a trusted financial institution in southeastern Wisconsin for nearly 90 years, with multiple branches serving the Kenosha area including Somers. Their mortgage department is particularly praised for competitive rates, low fees, and exceptional member service. As a credit union, they offer member-focused benefits including potentially lower closing costs and more flexible underwriting. Their local mortgage experts provide personalized guidance and have extensive knowledge of the Somers and Kenosha County real estate markets.
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Fairway Independent Mortgage Corporation - Kenosha
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage has established itself as one of the highest-rated mortgage lenders nationwide with a strong local presence in Kenosha County serving Somers homebuyers. Their Kenosha branch consistently receives outstanding reviews for efficient processing, competitive rates, and exceptional communication throughout the loan process. With access to numerous loan products and programs, they excel at finding the right mortgage solution for each borrower's unique situation. Their team's local market knowledge combined with national lending resources makes them a premier choice for Somers residents.
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Frequently Asked Questions
Common questions about mortgage lending in Somers, WI
What are the current mortgage rates like for homebuyers in Somers, WI, and how do they compare to state or national averages?
Mortgage rates in Somers are generally competitive and align closely with national averages, but local lenders may offer specific promotions. Due to Somers' location in Kenosha County, which is part of the Chicago-Naperville-Elgin MSA, rates can sometimes be influenced by the broader metro market. It's advisable to compare offers from both local Wisconsin credit unions and larger regional banks serving the I-94 corridor.
Are there any down payment assistance or first-time homebuyer programs specifically available for purchasing a home in Somers?
Yes, Somers homebuyers can access the Wisconsin Housing and Economic Development Authority (WHEDA) programs, which offer competitive rates, down payment assistance, and education for first-time buyers. Additionally, Kenosha County may have local initiatives, and some lenders offer special programs for professionals like teachers or healthcare workers in the area. These can be crucial for managing costs in Somers' evolving market.
How does Somers' proximity to the Illinois border and Chicago affect the mortgage and appraisal process?
Somers' location creates a unique dynamic where some buyers commute to Illinois for work. Lenders will carefully scrutinize employment stability for cross-state commuters. Furthermore, appraisals must use comparable sales ("comps") primarily from within Wisconsin and Kenosha County, which can differ significantly from the Illinois market, ensuring valuations reflect the local Somers property values accurately.
What should I know about property taxes in Somers when calculating my total monthly mortgage payment?
Property taxes in Somers, which fund the Village and the Kenosha Unified School District, are a significant component of your escrow payment. Kenosha County's effective property tax rate is above the national average, so lenders will emphasize this in your debt-to-income ratio calculation. It's essential to get a clear estimate of the annual tax burden on any specific property you're considering.
Are there specific types of properties or loans common in Somers that I should be prepared for, like for older homes or new construction?
Somers has a mix of established neighborhoods and new developments. For older homes, a thorough inspection is key, and lenders may have specific requirements for older roofs or systems. For new construction in areas like the Prairie Springs or Woodland Ridge subdivisions, you might work with a construction-to-permanent loan. USDA Rural Development loans are generally not applicable, as Somers is not considered a rural area under the program's current map.
Why Choose a Mortgage Lender in Somers?
Local Market Knowledge
Lenders who understand Somers'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 Somers and get competitive rates on your home loan.