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Stampfli Mortgage | NMLS # 1598803303 S. Main Street | Verona, WI 53593
Wisconsin Conventional mortgages remain the most common home loans in Madison and most of Wisconsin. These mortgage loans are also referred to as conforming loans. They conform to the Fannie Mae and Freddie Mac lending guidelines. These popular mortgages are available at Stampfli Mortgage. To learn more, call (608) 572-7222 or simply fill out a no-obligation online application today!
Fixed Rate Mortgages
Just as the name implies, a fixed rate simply means the interest rate remains the same for the life of the mortgage. This is the most common type of home loan in Wisconsin. A fixed rate mortgage offers the security of knowing your interest rate and monthly payments will not sky-rocket over time. Stampfli Mortgage offers competitive interest rates and the mortgage advisors are dedicated to finding you the best overall deal.
Adjustable Rate Mortgage (ARM)
Unlike the Wisconsin fixed rate mortgage, the Wisconsin ARM home loans have an interest rate which can fluctuate over time. There is a fixed period (often 3, 5, or 7 years), followed by and annual interest rate adjustment. Some people like this option because the initial interest rate may be lower than a fixed rate mortgage. Others do not like to take the risk of an uncertain market. Your knowledgeable mortgage advisor at Stampfli Mortgage can help you decide which option is right for you.
Conventional Mortgage Guidelines
There are a multitude of specific guidelines for Fannie Mae and Freddie Mac mortgage loans. These guidelines help lenders avoid risk. Lenders use these standard guidelines to determine if an application is approved or denied. Common guidelines for Wisconsin conventional mortgages include (but are not limited to):
Options to Consider
There are several options to consider when you are looking into a conventional mortgage. It's important to understand the advantages and disadvantages of each type of loan product. Whether you're a first time homebuyer or a seasoned homebuyer, the choices can be difficult to weed through. You will need to decide if fixed rate or adjustable rate is best for you. You will need to determine and decide how much of a down payment to put down. The mortgage can be structured different ways depending on individual needs. Having an experienced mortgage advisor at Stampfli Mortgage explaining the options can give you just the edge you need to make the best decision.
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