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Mortgage options for your dream home at rates you can afford.
Secure the Perfect Spot, Build When You're Ready
We provide loans to purchase a land lot to build your home on at a later date.
If you're considering acquiring a piece of land in Madison or Dane County for residential or business purposes, securing a standard mortgage may not be the most straightforward option. In such cases, you might find yourself exploring alternatives like a land lease or opting for a land loan, commonly referred to as a Lot Loan, to gain full ownership of the property.
Current Mortgage Rates
| Product/Term | Interest Rate | APR* | Learn More |
|---|---|---|---|
| 30 Year Fixed Rate | 6.625% | 6.706% |
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The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in WI and is within Dane county. The property is an existing single family home and will be used as a primary residence. The rate lock period is 45 days and the assumed credit score is 740. At a 6.625% interest rate, the APR for this loan type is 6.706%. The payment schedule would be:
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. |
| 15 Year Fixed Rate | 6.375% | 6.507% |
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The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in WI and is within Dane county. The property is an existing single family home and will be used as a primary residence. The rate lock period is 45 days and the assumed credit score is 740. At a 6.375% interest rate, the APR for this loan type is 6.507%. The payment schedule would be:
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. |
| Residential 5/1 Portfolio T-Bill ARM | 7.500% | 7.947% |
Learn More
The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in WI and is within Dane county. The property is an existing single family home and will be used as a primary residence. The rate lock period is 0 days and the assumed credit score is 740. At a 7.500% initial interest rate, the APR for this loan type is 7.947%, subject to increase. Based on current market conditions, the payment schedule would be:
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. |
| Residential 7/1 Portfolio T-Bill ARM | 7.750% | 8.007% |
Learn More
The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in WI and is within Dane county. The property is an existing single family home and will be used as a primary residence. The rate lock period is 0 days and the assumed credit score is 740. At a 7.750% initial interest rate, the APR for this loan type is 8.007%, subject to increase. Based on current market conditions, the payment schedule would be:
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. |
Mortgage Lending Team
Our experienced mortgage lenders will walk you through each step of the process. Contact us to learn more about Residential Lending.
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