WI mortgages : WI mortgage rates and home loans

At the Bank of Lake Mills, we offer a wide range of products to fit all customer needs. We can compete with the most competitive rates on the Secondary market. We also have the ability to provide local lending to meet a customer's specific criteria. At the Bank of Lake Mills, we have you covered. Why not work with a lender you trust?

Here are some of the mortgage products that we offer:

Purchase, Refinance Conventional mortgages

Government and First Time Homebuyer loan programs

In-House portfolio loans

Home equity loans

CONVENTIONAL LOAN PROGRAMS

We offer Fixed Rates for terms of 15 years, 20 years, 25 years, 30 years or 40 years

Traditional 1 year, 3 year and 5 year ARMS are also available

Financing is available for Refinances - consolidate your mortgages or pay off existing debt with some of your current equity, up to 90% Loan to value.

Purchases up to 97% financing are available.

Please visit our rate sheet to find out more details:RateSheet

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Guaranteed Rural Housing: Great Program for First Time buyers, but not limited to First Time buyers. No down payment is required. Fixed interest rate for a 30 year term. No monthly mortgage insurance. Please visit:  http://www.rurdev.usda.gov/ for more information.

WHEDA: Another great First Time buyer program. Down payment as low as 3% down program, with reduced mortgage insurance rates. Competitive interest rates. Please visit: http://wheda.com for more information.

FHA: Federal Housing Administration loan programs, with low down payments (3%), low closing costs and competitive credit qualifying. Allows financing for repairs or fixer-uppers. Good program for first time buyers.  FHA also has a good refinance program, and you do not have to currently be in an FHA loan to use this program. Please visit: http://www.hud.gov for more information. Also see: Government Loan Programs

State VA: Great program for veterans or current military members to utilitize for a home purchase. Only 5% down payment is needed, low interest rates and NO PMI, points or prepayment penalties. Please visit: http://www.dva.state.wi.us for more information.

Federal VA: Veterans and current military members can purchase at low rates with no money down. A Federal VA loan is a fully assumable loan. Please visit: http://www.homeloans.va.gov/pamphlet.htm for more information. Also see:   Government Loan Programs

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New Construction Loans and Lot purchase loans:

Financing for the construction of your new home is available at a low rate, interest-only payments for a six month term. Extended terms are also available for construction loans, with low rates.

Financing is also available for the purchase of the vacant land, with the intention to build. Only a 10% down payment is required on the purchase of vacant land. For more information on construction loans, please visit: ConstructionLoans

Bridge loans:

Allows for you to purchase your new home without waiting for the sale of your existing home. Uses your current equity for a down payment. Bridge loans are available for up to 85% of your home's current equity.  For detailed information on bridge loans and what they entail, please visit: WhatisaBridgeLoan



In-House servicing loans:

These are fixed rate loans that are available at a slightly higher interest rate for both purchases and refinances. The Bank of Lake Mills retains the servicing of these loans, which means you have the added ease of making your monthly payment to your local, trusted lender. For more information, please feel free to give us call.

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Home Equity Loans:

Home Equity Line of Credit (HELOC): Home equity lines of credit are starting at fantastic rates, which are adjustable. These lines of credit can be used for anything: debt consolidation, home improvements or miscellaneous purchases. The line of credit is easy to use and convenient to have for the little surprises life throws your way.

Fixed Rate second mortgages (Closed end seconds): If you want a fixed rate on your second mortgage, we have just the product for you. You can choose from a rate fixed for 5 years or one for 15 years. Call us today to find out which fixed rate second mortgage would best suit your needs. Both have competitive rates!

Please visit : Second Mortgages for further information

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Bank of Lake Mills - Loan Office

1640 S. Church St.

Watertown, WI 53094

Ph. (920) 206-9480 Fax (920) 206-9488

email: sthomas@blm-mortgage.com

For further banking information please visit

www.bankoflakemills.com