The real estate market in Milwaukee looks better than it has in years. Homes in many neighborhoods are still affordable but are rising in value. If you’re considering buying a home in Milwaukee, you’ll want to find a mortgage lender that fits your needs. Our partners at ConsumerAffairs reviewed the best mortgage lenders in Milwaukee to help your home purchase go smoothly.
Now is a great time to buy a home in Milwaukee. Many up-and-coming neighborhoods have affordable houses available. Since 2000, the value of homes in Milwaukee has shot up more than 36 percent, and the median home value is $116,549.
Some of the highest-appreciating neighborhoods in Milwaukee include:
You’ll want to get to know each community and find out which amenities are most important to you. Most homes in neighborhoods like Riverwest or Bay View are single-family homes with competitive pricing. If you’re looking to move to West Town or East Village, these neighborhoods have more expensive condos that may not be an option for everyone.
Neighborhoods such as Harambee have a selection of historic homes built in the 1940s to 1950s, and these homes are often very affordable. The City of Milwaukee has more information about the different neighborhoods in the metropolitan area.
While you’re looking for homes in Milwaukee, you should also be working with a mortgage lender on securing your loan. A good mortgage lender can help you set a budget and work with you on which type of loan you need for a specific house.
Mortgage companies in Milwaukee have a variety of loans for homebuyers, including:
Conventional loans: The most common type of loan, conventional loans may require higher credit scores and larger down payments than other options.
FHA loans: The Federal Housing Administration backs these loans. Homebuyers with lower credit scores may qualify for these loans, but the loan does require mortgage insurance.
HUD loans: These loans are backed by the Department of Housing and Urban Development and can be a good option for people with lower incomes.
VA loans: VA loans are low-cost loans that have low down payments. They’re offered by the Department of Veterans Affairs to veterans, members of the armed forces and surviving spouses.
USDA loans: USDA loans are zero-down-payment loans offered by the U.S. Department of Agriculture for people buying houses in specific rural areas.
Your mortgage company can help you decide which loan will work best for you, depending on your situation and the home you choose to purchase.
AmeriSave has more than 16 years of experience and offers competitive rates and exceptional customer service. AmeriSave has multiple loans available, including fixed-rate, FHA and VA loans. Customers in Milwaukee say that AmeriSave’s employees are quick and professional.
HomeDirect Mortgage is an internet-based direct lender with an automated application system. The company strives to make purchasing a house easy on their clients and follows them throughout the whole process, including servicing the loan. Milwaukee customers say the company’s employees are thorough in explaining the mortgage process to first-time homebuyers.
Wisconsin Mortgage Group
Wisconsin Mortgage Group is a Wisconsin-based mortgage lender that strives to provide individualized service. This company offers competitive rates and works with highly rated lenders to find you the best loan. Customers say Wisconsin Mortgage Group’s employees are professional and easy to work with.
Wisconsin Wholesale Mortgage
Wisconsin Wholesale Mortgage is a Milwaukee-based lender that offers affordable rates and quality service. This company is an A+ Better Business Bureau accredited business and has been in business for more than 11 years. Local customers say Wisconsin Wholesale Mortgage employees are very knowledgeable and help make the homebuying process easy.