The Best Mortgage Lenders in Tomah, WI
Compare verified mortgage lenders serving Tomah, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tomah
Featured Mortgage Lenders
Royal Credit Union
Royal Credit Union
Royal Credit Union stands as the premier local mortgage lender in Tomah with deep community roots and exceptional customer satisfaction. As a not-for-profit financial cooperative, they offer highly competitive rates and personalized service through their local Tomah branch. Their mortgage specialists are known for guiding borrowers through the entire process with expertise in VA loans (important for the Fort McCoy military community), first-time homebuyer programs, and various government-backed loans. With outstanding online reviews highlighting their responsive service and smooth closing processes, RCU provides the advantage of local decision-making combined with comprehensive mortgage products.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage's La Crosse office serves the Tomah area with exceptional expertise and consistently receives top ratings for customer service. As a nationwide lender with strong local presence, they combine the resources of a large mortgage company with personalized, local service. Their team specializes in navigating complex loan scenarios and offers competitive rates across all loan types. Particularly noted for their efficient processing and clear communication throughout the mortgage journey, they've built a reputation for making the home financing experience smooth and stress-free for Tomah area residents.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation's La Crosse branch consistently ranks among the top mortgage lenders serving the Tomah region, known for their exceptional customer service and competitive loan products. With nearly three decades of experience, they've developed sophisticated processes that streamline mortgage approvals while maintaining personal attention to each client. Their loan officers are particularly skilled with VA loans and first-time homebuyer programs, making them an excellent choice for military families from Fort McCoy and new homeowners alike. The company receives consistently high marks for their responsiveness, transparency, and ability to close loans efficiently.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Tomah, WI
Are there any special first-time homebuyer programs available specifically for Tomah, WI?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers its popular first-time homebuyer programs statewide, including in Tomah. These programs provide competitive interest rates, down payment assistance, and flexible credit requirements. Additionally, local lenders in Tomah are well-versed in these programs and can guide you through the application process tailored to Monroe County's housing market.
How do property taxes in Tomah and Monroe County affect my mortgage payments?
Monroe County has a relatively moderate property tax rate compared to other parts of Wisconsin, which can positively impact your monthly mortgage payment when taxes are escrowed. For a typical Tomah home, you can expect property taxes to add approximately $150-$300 to your monthly payment, depending on the home's assessed value. It's crucial to factor this into your budget, as lenders will include this in your debt-to-income ratio calculation.
What is the typical down payment needed for a home in Tomah's current market?
While Tomah's market is more affordable than many areas, a down payment of 3-5% is common for conventional loans, with 20% needed to avoid private mortgage insurance (PMI). For the area's median home price (around $180,000-$220,000), this translates to $5,400-$11,000 for a 3-5% down payment. Many local buyers also utilize USDA Rural Development loans, which offer 0% down payment options for eligible properties in and around Tomah.
Are USDA loans a viable option for mortgages in Tomah, WI?
Absolutely. Tomah and much of Monroe County are eligible for USDA Rural Development loans, which are particularly popular here. These government-backed loans offer 100% financing (no down payment), competitive interest rates, and more flexible credit guidelines. This is a significant advantage for buyers looking at homes in Tomah's more rural outskirts or even within the city limits, which often qualifies.
How does the presence of Fort McCoy influence the mortgage process for military or VA loan users in Tomah?
Fort McCoy's proximity makes Tomah a popular location for active-duty military, veterans, and civilian personnel. Local lenders are highly experienced with VA loans, which offer 0% down payment and no PMI. The stable military presence also contributes to a consistent rental and resale market, which lenders view favorably. If you have VA eligibility, you'll find numerous Tomah-area lenders who specialize in streamlining this process.
Why Choose a Mortgage Lender in Tomah?
Local Market Knowledge
Lenders who understand Tomah'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 Tomah and get competitive rates on your home loan.