The Best Mortgage Lenders in Stevens Point, WI
Compare verified mortgage lenders serving Stevens Point, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stevens Point
Featured Mortgage Lenders
Associated Bank Mortgage Team
Associated Bank
Associated Bank stands as one of the top mortgage lenders in Stevens Point with deep roots in Wisconsin communities. With over two decades of serving central Wisconsin, they offer comprehensive mortgage solutions through their local branch network. Their experienced mortgage team provides personalized service with competitive rates on various loan programs. Customers consistently praise their responsive communication, smooth closing processes, and local decision-making capabilities that understand the unique Wisconsin housing market.
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North Star Home Loans
North Star Home Loans
North Star Home Loans has built an exceptional reputation in Stevens Point as a locally-owned mortgage broker known for outstanding customer service and competitive rates. Their team of experienced loan officers specializes in finding the right mortgage solutions for central Wisconsin homebuyers. With numerous 5-star reviews highlighting their attention to detail, transparent communication, and ability to handle complex situations, they consistently exceed client expectations. Their local expertise and strong relationships with multiple lenders allow them to offer diverse financing options.
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CoVantage Credit Union Mortgage Services
CoVantage Credit Union
CoVantage Credit Union has been serving central Wisconsin communities for decades with a strong focus on member satisfaction and community involvement. Their mortgage department offers competitive rates and personalized service with the advantage of local underwriting and decision-making. Members consistently report positive experiences with their knowledgeable loan officers who take time to educate borrowers throughout the process. As a not-for-profit financial cooperative, they often provide more favorable terms and lower fees than traditional banks, making them a top choice for Stevens Point area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Stevens Point, WI
Are there any first-time homebuyer programs specific to Stevens Point, WI, that can help with down payment or closing costs?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers several programs, like the WHEDA Advantage and WHEDA Conventional loans, which are widely used in Stevens Point. These programs provide competitive interest rates, low down payment options, and down payment assistance grants for eligible buyers. Additionally, local lenders often have knowledge of community-specific grants or programs aimed at helping first-time buyers in Portage County.
How do property taxes in Stevens Point and Portage County impact my mortgage payments and affordability?
Portage County property taxes are a significant factor, with rates typically around 2.0% to 2.3% of assessed value, which is moderately high for Wisconsin. Lenders will escrow these taxes, meaning your monthly mortgage payment will include 1/12 of the annual tax bill. When budgeting, factor in this escrow payment, as it can add several hundred dollars to your monthly housing cost compared to just the principal and interest.
What are typical mortgage rates offered by local lenders in Stevens Point, and how do they compare to national averages?
Mortgage rates in Stevens Point generally align with national averages but can vary slightly between local community banks, credit unions like CoVantage Credit Union or Forward Financial Credit Union, and national lenders. Local credit unions often offer very competitive rates and personalized service. It's advisable to get quotes from multiple local institutions, as they may have special promotions or relationship discounts for existing members.
Does the presence of UW-Stevens Point and associated employment stability affect mortgage lending or appraisal values in the city?
Yes, the stable employment base provided by the university, along with other major employers like Sentry Insurance and the Portage County government, is viewed positively by lenders. This stability can support consistent property values and make qualifying for a mortgage easier for those with secure jobs in these sectors. Appraisers also consider this economic stability, which can help ensure home values in neighborhoods near these employers remain robust.
Are there specific mortgage considerations for buying a historic home in Stevens Point's older neighborhoods, like the Historic Third Ward?
Yes, purchasing a historic home may involve additional steps. Lenders may require a more thorough inspection to identify potential issues with older plumbing, electrical systems, or foundations. Some renovation or rehabilitation loans, like the FHA 203(k) loan, can be particularly useful for financing both the purchase and needed updates. It's also wise to check if the property has any local historic preservation easements that could affect future modifications.
Why Choose a Mortgage Lender in Stevens Point?
Local Market Knowledge
Lenders who understand Stevens Point'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 Stevens Point and get competitive rates on your home loan.