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• Mortgage rates in Appleton, Wisconsin, are a product of many influences, including the state of the economy and your personal creditworthiness.
• Even a small increase in your mortgage interest rate can have a big impact on your bottom line.
• Fixed-rate mortgages offer stable payments for the life of the loan, while ARMs have fluctuating rates.
• First-time homebuyers in Wisconsin have a variety of assistance programs at their fingertips.
• Mastering mortgage rates can be key to unlocking the door to your dream home.
• Compare offers from multiple lenders to find the best fit for your financial situation and goals.
Introduction to Mortgage Interest Rates
Residents believe Appleton is one of the best affordable places in the U.S. Given its modest cost of living and low average home value compared to the national average, Appleton certainly has a lot to offer. But much of your monthly budget rides on that all-important mortgage payment. How can you know if you’re getting a good deal?
Mortgage rates in Appleton, and across the state of Wisconsin, are influenced by a variety of economic factors as well as the borrower’s individual financial situation and credit history. This guide will help you understand the most important things that lenders consider when setting home loan rates and what you can do to secure the lowest rate possible.
Whether you’re buying your first home or a seasoned homeowner looking to refinance, understanding how mortgage rates in Wisconsin are set is important for making the best financial decisions for your home. It can also help you time your application to take advantage of favorable market conditions. Let’s get started.
First-time homebuyer programs usually consider anyone who hasn’t owned a home in the previous three years to be a “first-timer.” If you think you might qualify as a first-time homebuyer, you could enjoy special benefits such as lower down payment minimums, grants, and closing cost assistance.
Where Mortgage Rates Come From
Mortgage rates in Wisconsin are influenced by a variety of factors, and understanding how they are determined can help you make more informed decisions when it comes to your home purchase. The bond market, and specifically the 10-year U.S. Treasury Note, is a strong indicator of which direction rates are heading. The performance of the housing market, inflation, and unemployment rates also play a role. When the economy is strong and growing, mortgage rates tend to rise. When the economy is slowing or inflation is low, mortgage rates tend to fall.
But that’s just half the story. The other half belongs to you, the homebuyer. Lender will weigh your personal financial profile and history, scrutinizing the following:
• Credit score Most conventional lenders will look for a score of 620 or more, but generally speaking, higher is better.
• Down payment Making a larger down payment can result in a lower interest rate because lenders perceive a lower default risk.
• Debt-to-income (DTI) ratio In general, mortgage lenders like to see a DTI ratio of no more than 36%.
See how your debt level may affect your mortgage
Use SoFi’s debt-to-income calculator to determine your personal DTI number.
See how your debt level may affect your mortgage
Use SoFi’s debt-to-income calculator to determine your personal DTI number..
How Interest Rates Affect Home Affordability
Are we making too big a fuss about mortgage rates? You be the judge: A one-percentage-point increase in the interest rate on a $250,000 mortgage — from 6.00% to 7.00% — adds about $165 to the monthly payment. That’s almost $2,000 a year.
Even a fraction of a percentage point can have a significant impact on your budget and your long-term financial health and stability, as you can see in the table below. Calculations are based on a $250,000 fixed-rate loan repaid over 30 years.
Interest Rate
Monthly Payment
Total Interest
6.00%
$1,199
$231,677
6.50%
$1,264
$255,085
7.00%
$1,330
$279,021
7.50%
$1,398
$303,403
8.00%
$1,467
$328,309
Appleton Mortgage Rate Trends
Historical U.S. Mortgage Rates
Mortgage interest rates have always fluctuated quite a bit. The graphic shows 50 years of average national rates, from 18.00%+ in 1981 to under 3.00% in 2021. The table illustrates how rates in Wisconsin closely follow the national average, usually a bit higher or lower. Keeping your finger on the pulse of these trends by following news of interest rates can help you make the best choices for your mortgage.
Year
Wisconsin Rate
U.S. Rate
2000
8.06
8.14
2001
7.03
7.03
2002
6.47
6.62
2003
5.69
5.83
2004
5.75
5.95
2005
5.91
6.00
2006
6.56
6.60
2007
6.49
6.44
2008
6.13
6.09
2009
5.06
5.06
2010
4.74
4.84
2011
4.57
4.66
2012
3.64
3.74
2013
3.85
3.92
2014
4.18
4.24
2015
3.88
3.91
2016
3.76
3.72
2017
4.96
4.03
2018
4.66
4.57
Source: Federal House Finance Agency
Should You Wait for Interest Rates to Dip?
It’s a question that often pops up, especially among those new to the homebuying scene in Appleton. The current outlook suggests that mortgage rates will hold steady for a while. Forecasts are pointing to an average mortgage rate in Wisconsin of around 6.30% by the close of 2025.
While the idea of lower rates down the road is alluring, it’s wise to weigh your financial readiness and the perks of locking in a mortgage now. If rates do take a dip in the future, you can always explore a mortgage refinance to take advantage.
The Cost of Living in Appleton
The overall cost of living in Appleton is about on par with the national average. While home prices are on the rise (up 6.9% year over year in May 2025), the average home value here of $287,000 is well below the national average of $368,000. That can make fitting a mortgage payment into your monthly budget much easier.
Here’s how Appleton compares to other Wisconsin cities on an index where 100 equals the average cost of living in the U.S.
To secure the best mortgage rates in Appleton, the first thing to focus on is improving your credit score, which can significantly lower your interest rate. Then pay down your existing debts as much as possible; aim for a debt-to-income (DTI) ratio below 36%. And you probably know that increasing your down payment can help you avoid private mortgage insurance (PMI). But a higher down payment can also reduce your interest rate.
Lenders will carefully review your employment history, income, and assets to assess your financial stability. To solidify your budget, consider going through the mortgage preapproval process and explore different types of mortgages, such as fixed-rate or adjustable-rate loans, to find the best fit for your financial situation.
Helpful Tools & Calculators
Using a mortgage calculator is a great way to see how different mortgage rates in Appleton, WI will affect your monthly payments and overall costs. You can also input different loan amounts, loan terms, and interest rates to see how your total payment will vary. Remember, you should also compare rates and fees from different lenders to see which lender will offer you the best deal. Additionally, you can use online calculators to estimate closing costs and other expenses.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Amo payments shown depend on the accuracy of the information provided.
Types of Mortgages Available in Appleton, Oregon
Another factor that influences your mortgage interest rate is the type of mortgage loan you choose. Fortunately, in Appleton, you’re spoiled for choice when it comes to mortgages. For a conventional mortgage, a credit score of 620 is the usual starting point, but the average score for a homebuyer in 2024 was 758. Here’s a bit more about the main mortgage types and the rates you can generally expect from each.
Fixed-Rate Mortgage
A fixed-rate mortgage in Appleton is just what it sounds like: The interest rate remains constant for the entire life of the loan. This means your monthly payments will also remain the same, providing a clear and consistent budget. Fixed-rate mortgages are typically available in 10, 15, 20, 30, or 40-year terms, giving you the flexibility to choose the best option for your financial situation. With a fixed-rate mortgage, you won’t have to worry about the potential for rising interest rates, which can provide a great deal of peace of mind.
Adjustable-Rate Mortgage (ARM)
Adjustable-rate mortgages (ARMs) often start with lower rates than fixed-rate loans, which can be a plus if you plan to sell before the low introductory rate ends. For instance, a 5/1 ARM will have a fixed rate for the first five years and then adjust annually. This type of mortgage can be a good choice if you expect rates to decrease, but it does come with the risk of rising rates. Make sure you run the numbers on how higher rates and payments may fit into your budget, just in case you end up being in the home longer than expected.
FHA Loan
The FHA loan, backed by the Federal Housing Administration, is a great option for those who might not qualify for a conventional loan due to more stringent requirements. It’s tailor-made for first-time homebuyers and those with lower credit scores. In Appleton, a credit score of 580 or higher could get you started with just a 3.5% down payment, while a score of 500 to 579 would require a 10% down payment. Although FHA loans do come with mortgage insurance premiums, which add to the cost, they’re still a fantastic option for those with limited savings.
VA Loan
VA loans are a great option for those who have served or are currently serving in the military. They are available to eligible active-duty military members, veterans, reservists, National Guard members, and surviving spouses. One of the main benefits of a VA loan is that it does not require a down payment, which can make homeownership more accessible. VA loans also typically have lower interest rates and no private mortgage insurance (PMI). The first step is to request a Certificate of Eligibility from the VA.
Jumbo Loan
In most places, the ceiling for a conventional mortgage loan is $806,500 for a single-family home. A jumbo loan, on the other hand, is tailored for properties that surpass this limit, allowing for more substantial financial backing to acquire pricier homes. These loans typically come with more stringent requirements, such as elevated credit scores and heftier down payments. In Appleton, where the median home price stands at $287,400, jumbo loans might not be the norm, but they are indeed a good avenue for those eyeing high-value properties.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
How to Evaluate Loan Offers in Appleton
A competitive mortgage rate can be the key to significant savings over the life of your loan. Even a seemingly small rate difference can add up to big bucks. That’s why it’s so important to compare rates and fees from multiple lenders, focusing on the APR (annual percentage rate), which includes all the costs of the loan. Once you’ve found an offer you like, you can lock in your rate for up to 90 days for a fee, which can provide some peace of mind in a volatile market.
Appleton Mortgage Resources
Appleton is brimming with resources and programs to support homebuyers, especially those stepping into the market for the first time or those with limited financial resources. The Wisconsin Housing and Economic Development Authority (WHEDA) is a fantastic starting point. They offer the Advantage Conventional Loan, which requires a 620 credit score and meeting income limits. The Advantage FHA loan needs a 640 credit score, and they also have two down payment assistance programs: the Easy Close DPA and Capital Access DPA. These resources can be the key to making homeownership more accessible and affordable for you.
Closing Costs in Appleton
For those of you setting your sights on a new home in Appleton, closing costs typically range between 2% and 5% of the loan value. What’s the secret formula behind these costs? Well, it’s a mix of your property’s value and location, and the typical costs include loan origination fees, appraisal fees, title insurance, and attorney fees.
Here’s a pro tip: To keep these costs in check, be sure to shop around for lenders who are upfront about their rates and fees. And don’t be afraid to negotiate.
The Takeaway
Appleton, Wisconsin homebuyers know a great place to live when they find one. They also know that making well-informed decisions can set them on the path to successful homeownership. Comparing interest rates and terms from multiple lenders can result in significant savings. Keeping an eye on interest-rate news and locking in a rate can shield you from potential increases. By exploring assistance programs and staying up to date, you can confidently navigate the mortgage market. This knowledge is your key to securing favorable terms and realizing your property ownership aspirations.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Wondering if mortgage rates will dip in Appleton, Wisconsin?
Predicting future mortgage rates is a bit like forecasting the weather — it’s not an exact science. But you can get a good idea of what might happen by keeping an eye on key economic indicators. For example, if the 10-Year Treasury Note yield dips, mortgage rates might follow. That said, the forecast is for interest rates to hold steady for the rest of the year, ending 2025 around 6.30%.
Will mortgage rates ever be normal again?
While we may not see a return to the record low mortgage rates of 2021, there is hope that they will hold steady for the time being. If you take the long view, current rates are actually around the 50-year average. The key is to stay flexible and consider your financial readiness before making any big decisions about a home. And if you’re ever in doubt, a chat with a financial advisor can help you make the best choice for your situation.
Will Appleton, Wisconsin home prices ever decrease?
Although we’ve seen a general uptick in home prices of late, we could see a leveling off or even a dip in home prices. To navigate these potential shifts, it’s wise to stay attuned to local market conditions and seek the guidance of a qualified real estate professional. Additionally, utilizing a mortgage calculator can be a strategic move, allowing you to carefully estimate your monthly payments and compare different scenarios based on current mortgage rates. This kind of planning can provide the clarity you need to make a confident, well-informed decision.
Is it a good time to buy a house in Appleton, Wisconsin?
Whether or not to make that leap into homeownership in Appleton, Wisconsin, is a decision that’s influenced by a variety of factors. While higher mortgage rates can nudge up monthly payments, Appleton home values in 2025 are well below the national average. For first-time homebuyers, there are programs like the WHEDA Advantage Conventional Loan and down payment assistance to help ease the financial load. Keep an eye on the economic landscape and your own financial readiness to know when the time is right for you.
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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
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