Wisconsin Home Loans & Mortgage Rates

Wisconsin offers some of the Midwest’s best value in homeownership, with a statewide median around $295,000 and strong job markets anchored by healthcare, manufacturing, agriculture, and a growing tech presence in Madison. The state’s two major metros deliver very different housing profiles, from affordable Milwaukee to the competitive college-town market of Madison.

Milwaukee County has a median around $264,000, with wide variation from affordable neighborhoods to upscale suburbs. Waukesha County (Brookfield, New Berlin) runs higher at approximately $380,000. Dane County (Madison) is the state’s priciest major market at roughly $400,000, driven by state government, UW-Madison, and Epic Systems. Brown County (Green Bay) offers strong value at about $260,000. Racine and Kenosha counties sit around $250,000-$280,000, with commuter access to Chicago. Eau Claire, La Crosse, and Appleton range $230,000-$270,000.

Wisconsin’s FHA limits are essentially uniform at the $541,287 baseline across all 72 counties. The only minor exceptions are Pierce and St. Croix counties (Minneapolis suburbs) with slightly elevated limits. At Wisconsin price points, FHA covers nearly every purchase statewide with significant headroom.

WHEDA (Wisconsin Housing and Economic Development Authority) runs the Advantage programs with Easy Close DPA (up to 6%) and Capital Access DPA ($7,500 at 0%). Milwaukee offers additional city-level grants up to $7,000. Wisconsin has moderate property taxes (1.53-1.73%) and a modest transfer fee.

2026 Loan Limit Takeaways

Wisconsin’s FHA limits are essentially uniform. The $541,287 baseline covers the vast majority of purchases statewide. Even Dane County’s $400,000 median is well within range. Only Pierce and St. Croix counties (part of Minneapolis-St. Paul MSA) get a slight bump to $552,000. FHA is accessible and practical across all Wisconsin markets.

Down Payment Assistance Notes

WHEDA Easy Close’s 6% is generous but requires monthly payments on the second mortgage. Capital Access $7,500 at 0% is more modest but has zero monthly payments. The two programs serve different buyer profiles. Milwaukee’s city grants can stack with WHEDA programs. Homebuyer education required for all WHEDA programs. Rural target areas may receive lower mortgage rates.

Closing Costs in Wisconsin

Wisconsin has moderate closing costs with a simple fee structure.

Transfer Fee: Wisconsin charges a real estate transfer fee of $3.00 per $1,000 of sale price (0.30%). Split between buyer and seller — typically the seller pays. On a $295,000 home, that is approximately $885. Some counties may have additional fees.

No Mortgage Tax: Wisconsin does not charge a mortgage recording tax.

Title Company State: Wisconsin uses title companies for closings. Attorney involvement is optional but common. Title insurance typically $1,000-$2,000.

Estimated Total Buyer Closing Costs: On a $295,000 purchase, expect approximately $5,300-$10,300 (1.8-3.5%). Wisconsin’s low transfer fee and no mortgage tax keep costs manageable. Major buyer expenses are lender fees, title insurance, and prepaid items.

Property Taxes in Wisconsin

Wisconsin property taxes are above the national average, primarily due to school funding.

Statewide Average: Approximately 1.53-1.73% effective rate. Median annual bill approximately $4,000.

County Effective Rates: Milwaukee County approximately 2.10% (highest in state due to city levy). Dane County (Madison) about 1.70%. Waukesha County approximately 1.55%. Brown County (Green Bay) about 1.80%. Racine County approximately 1.85%. Kenosha County about 1.70%.

On a $264,000 Milwaukee home, expect approximately $5,500/year. In Madison on a $400,000 home, about $6,800. In Green Bay on a $260,000 home, approximately $4,700. These are above the national average but offset by Wisconsin’s relatively affordable home prices.

Exemptions: Wisconsin Homestead Credit provides property tax relief for lower-income homeowners. School Levy Tax Credit provides automatic reduction. Lottery and Gaming Credit for primary residences. First Dollar Credit. Various senior and disability exemptions.

USDA Loan Eligibility in Wisconsin

Wisconsin has extensive USDA eligibility across its rural landscape.

Northern Wisconsin is broadly eligible (Vilas, Oneida, Forest, Florence, Marinette, Price, Ashland, Bayfield counties). Central Wisconsin outside Wausau and Stevens Point (Wood, Portage portions, Clark, Taylor, Lincoln counties). Western Wisconsin (Trempealeau, Buffalo, Pepin, Crawford, Vernon, Grant, Iowa counties). Southern Wisconsin between Madison and Milwaukee (Jefferson, Dodge, Green, Lafayette counties).

Commuter-friendly USDA areas include outer Walworth County, rural Columbia County, portions of Sauk County (Wisconsin Dells area), and areas along I-39/I-90/I-94 corridors outside metro boundaries. Door County (tourism region) has eligible areas.