Top 5 Mortgage Questions Wisconsin Homebuyers Are Asking in 2025
Buying a home is exciting, but if you're like most Wisconsin buyers, you've got questions. Good news: you're not alone. Every week, my team and I get asked the same questions from clients across Milwaukee, Waukesha, Dane County, and beyond.
To make life easier, here are the top 5 mortgage questions Wisconsin homebuyers are asking in 2025 - and straight answers you can trust.
1. How much down payment do I need?
In Wisconsin, you don't always need 20% down. In fact:
- FHA loans allow as little as 3.5% down.
- Conventional loans can go as low as 3% for first-time buyers.
- VA loans and USDA loans often require 0% down.
👉 Related Reading: Down Payments in Wisconsin 2025 - What Counts and Where the Money Can Come From
2. What credit score do I need for a mortgage?
- FHA loans: 580+ (with 3.5% down)
- Conventional loans: 620+ (higher scores = better pricing)
- VA loans: flexible, but 620 is a safe benchmark
The higher your score, the more options you'll have - and the lower your rate could be.
3. Can I buy a home if I still have student loans?
Yes! Mortgage approvals don't just look at the loan balance - they focus on your debt-to-income ratio (DTI). If your monthly debt payments are manageable compared to your income, you can still qualify.
4. How long does pre-approval take?
With my team, pre-approvals are fast. Most clients get theirs within 24 hours once documents are submitted. In hot markets like Milwaukee and Waukesha, having a strong pre-approval in hand gives you a serious edge when making offers.
👉 Related Reading: Mortgage Pre-Approval in Wisconsin - From Call to Letter in 3 Easy Steps
5. What's the difference between FHA and Conventional loans?
- FHA Loans: Lower credit score requirements, small down payments, but lifetime mortgage insurance.
- Conventional Loans: Flexible options, cancellable PMI, strong for buyers with good credit.
👉 Related Reading: Conventional Loans in Wisconsin 2025 - A Smart Choice for Homebuyers
Wrap-Up
The mortgage process doesn't have to be confusing. If you've got questions, chances are I've already answered them before - and I'd be happy to walk you through the process step by step.
📲 Call/Text: 414-976-2654
📧 Email: azeman@uhm.com
🌐 www.mkemortgage.com
🤖 Try my 24/7 Mortgage Assistant: Wisconsin Real Estate & Mortgage Expert