30-Year Mortgage Rates in Madison, WI
Compare current 30-year fixed mortgage rates in Madison, WI. Find the best local lenders, understand Madison market trends, and secure competitive rates for your home purchase or refinance.
As of April 2026, the average 30-year fixed mortgage rate in Madison, WI is approximately 6.65%, based on national survey data from Freddie Mac. Rates in Madison generally track the Upper Midwest average, influenced by local housing demand, lender competition, and economic conditions. The median home price in Madison is approximately $365,000. Capital university town.
Current Mortgage Rates in Madison, WI
Compare average mortgage rates available to Madison borrowers. Rates are based on national averages from Freddie Mac and may vary by lender, credit score, and loan amount.
| Loan Type | Rate | APR | Est. Payment |
|---|---|---|---|
| 30-Year Fixed | 6.65% | 6.82% | $1,925/mo |
| 15-Year Fixed | 5.90% | 6.12% | $2,585/mo |
| FHA 30-Year | 6.25% | 7.15% | $1,845/mo |
| VA 30-Year | 6.15% | 6.38% | $1,815/mo |
| Jumbo 30-Year | 6.85% | 7.02% | $2,125/mo |
Top Mortgage Lenders in Madison, WI
Compare mortgage lenders serving Madison borrowers. All lenders shown are licensed to operate in Wisconsin.
Premium Madison Lender
- Competitive 30-year fixed rates
- Local Madison branch offices
- Same-day pre-approval available
- Dedicated WI loan officers
Featured Madison Lender
- Low rate guarantee programs
- Online application portal
- First-time buyer specialists
- Down payment assistance guidance
Verified Madison Lender
- Serving Wisconsin since 2005
- FHA/VA/USDA loan options
- Free rate lock for 60 days
- Local market expertise
Madison Housing Market Overview
Understanding the Madison real estate market helps borrowers make informed mortgage decisions in Wisconsin.
Madison Home Prices
The median home price in Madison is approximately $365,000. Local prices reflect the Upper Midwest market dynamics and Madison's specific economic conditions and housing supply.
Madison Market Trends
Madison's housing market reflects broader Wisconsin trends. Local inventory levels, days on market, and price appreciation help determine the best timing for mortgage applications.
Cost of Living in Madison
Madison's cost of living, including property taxes and insurance rates, affects the total homeownership cost beyond the mortgage payment for WI residents.
Factors Affecting Mortgage Rates in Madison
Several local and national factors influence the mortgage rates available to Madison homebuyers.
Credit Score in Madison
Your credit score is the biggest factor in your Madison mortgage rate. Aim for 740+ for the best rates. Borrowers with excellent credit save thousands over the life of a 30-year loan.
Down Payment & LTV
A 20% down payment on a $365,000 home in Madison avoids PMI. FHA loans allow 3.5% down, making homeownership more accessible in Madison's market.
Local Lender Competition
Shopping 3-4 Madison-area lenders can save 0.25-0.5% on your rate. Compare banks, credit unions, and mortgage brokers serving the Madison market.
Rate Lock Strategy
When you find a competitive rate in Madison, lock it. Rate locks of 30-60 days protect you from market volatility during the closing process in WI.
Frequently Asked Questions: Madison Mortgage Rates
The average 30-year fixed rate in Madison is approximately 6.65% as of April 2026, based on Freddie Mac data. Your actual rate depends on credit score, down payment, loan amount, and lender. Shopping multiple Madison lenders typically saves 0.25-0.5%.
With a median home price of $365,000 in Madison, a 20% down payment would be about $73,000. FHA loans require just 3.5% down, and VA loans offer zero down for eligible veterans in WI.
For the best mortgage rates in Madison, aim for a credit score of 740+. Scores of 760+ get the absolute best rates. FHA loans in WI accept scores as low as 580 with 3.5% down.
Yes. The Wisconsin Housing Finance Authority offers down payment assistance and below-market rate programs. Federal programs including FHA, VA, and USDA loans are also available to Madison buyers. Contact local lenders for current program availability.
A 30-year fixed offers lower monthly payments, ideal for Madison buyers wanting payment flexibility. A 15-year saves on total interest but requires higher payments. With Madison's median price of $365,000, most buyers choose the 30-year for affordability.
Compare Nearby Mortgage Markets
Explore mortgage rates and housing data in nearby cities to find the best market for your home purchase.