The best home loan? It depends on what's important to you.
Some homebuyers focus on the neighborhood, others on the number of bedrooms and others on the kitchen size. When choosing a mortgage, there are just as many factors to consider. At AbbyBank, our experienced lending team can explain all options and guide you to a loan1 that's as sweet as your new home.
- Competitive interest rates.
- Fixed-rate and adjustable-rate loans.
- USDA loans for qualified homebuyers.
- Down payment assistance options, including the Downpayment Plus® Program2, to help make homeownership more affordable.
- Construction loans for those building from scratch or remodeling.
- Land loans for those who have found the perfect piece of property.
- Free pre-approval process that will let you know how much you can afford before you begin looking for your next place.
Forgot something or need to return to your application?
Heartwarming loan options
Most LovedFixed-Rate Mortgages
Prices are always going up. Certainly, in 10, 20 or 30 years everything will be more expensive. Except your mortgage payment. With a fixed-rate loan, you are locked in on Day One and never have to worry about it again.
Fixed-Rate Mortgages Details
Most AdaptableAdjustable Rate Mortgages (ARM)
Think of an adjustable-rate loan as a short-term commitment with a long-term vision. You lock in an interest rate for a shorter term and then let it unfold smoothly over a period of up to 30 years. While the rate may change after the initial set period, we've got it under control with caps at each adjustment, plus a lifetime cap for enduring stability. Flexibility meets reliability in your journey to a well-financed home.
Adjustable Rate Mortgages Details
Most EconomicalUSDA Guaranteed Rural Housing
Fresh air and farm friendly with open space. There are plenty of good reasons to live in rural areas. A USDA loan can help you move to a place with plenty of elbow room.
USDA Guaranteed Rural Housing Details
Most SpecializedMedical Profession Mortgage Program
Thank you for taking care of our bodies, teeth, eyes, back, feet and pets. After a long day of working, we think you deserve to relax in a nice home of your own.
Medical Profession Mortgage Program Details
Most Controlled
Most PersonalizedLand Purchase Loans Details
Downpayment Plus® Program
Dreaming of owning a home? We can help make it happen! As a member of FHLBank Chicago, AbbyBank offers the Downpayment Plus® program2 to provide eligible homebuyers with up to $10,000 in forgivable grants for down payment and closing costs.
Downpayment Plus® Details
Future Keys Home Program
Build your modular or manufactured home in Clark, Taylor, or Marathon County, WI with local financing, competitive construction rate, and a $500 closing credit.
Money that makes good things happen.
Your beautiful home can help you qualify for a versatile loan. Home equity funds can be used for almost any purpose - from home renovations and family vacations to college education and debt consolidation.
Home Equity Loans
- Get all loan funds right away.
- Credit limit1 is 90% of the equity you have in your home (current market value minus any outstanding mortgage balance).
- Same payment amount every month.
- Often used for big-ticket items, such as home remodeling, major purchases and business start-up costs.
Home Equity Line of Credit
- Get access to a pool of money you can use repeatedly for any reason.
- Credit limit1 is 90% of the equity you have in your home (current market value minus any outstanding mortgage balance).
- Access funds through eBanking, Mobile Banking, checks and at AbbyBank branches.
- Option of making interest-only payments each month.
- If you choose to pay down the loan principal, funds can be reused for other purposes.
- Often used for periodic payments such as college tuition and ongoing medical care.
Other products & services you might like
We know life moves fast.
AbbyBank's secure Online Mortage Application is available anytime, making it easy to fit your schedule.
Common Questions
What is required to apply for a mortgage?
When applying for a mortgage loan at AbbyBank, we look at two years’ worth of work history, applicant credit scores, borrower assets, and we will ask for a valid ID. Typically, a 660 credit score or higher is recommended when purchasing a home. There are many documents needed when applying for a home loan that you will want to start gathering for the lender.
How much house can I afford?
We will work with you to determine your Debt-to-Income ratio (DTI). Your DTI will help determine how much down payment you might need and how much home you can comfortably afford. A healthy DTI to aim for is under 43%. However, you can still get a loan if it is higher than that. You can calculate DTI by adding up your current monthly debt payments and divide them by your gross monthly income.
You can also use our mortgage qualifier calculator to help you calculate how much you can borrow. Visit our conventional mortgage rates page to add the most current rate into the mortgage calculator.
Is it better to get a mortgage loan from a bank or mortgage broker?
Although mortgage brokers tend to have access to more mortgage loan types, they typically have higher interest rates associated with their loans which can impact your monthly principal and interest payments. There also can be additional loan fees when doing business with brokers that you would not have with a traditional community bank.
One major benefit of working with AbbyBank is the ability to communicate directly to your mortgage lender without a go-between. Our mortgage lenders will give you their contact information and can answer any questions throughout the home financing journey and for the life of the loan. Mortgage Brokers sell the servicing of your mortgage loan, so your point of contact can change more than once throughout the life of the loan.
Why should I get a preapproval for a home loan?
Getting a preapproval for a home loan allows you to know how much home you can afford. This can help give you an estimate on what your monthly payments could look like. In a Sellers’ market, this offers you some negotiation power. A seller is more likely to negotiate with a prospective buyer who has a preapproval letter over someone who doesn’t. The seller wants to feel secure knowing you can obtain home loan financing.
Realtors also appreciate seeing the letter before showing you a home as it helps them know you are a qualified buyer and empowers them to find homes in your qualified purchase price range.
AbbyBank is a full-service financial institution with Wisconsin locations in Abbotsford, Appleton, Gresham, Medford, Shawano, Wausau, Weston and Withee.
¹All loans are subject to credit approval
2Downpayment Plus is a program from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the Federal Home Loan Bank of Chicago's website at www.fhlbc.com for complete requirements. "Downpayment Plus" is a registered trademark of the Federal Home Loan Bank of Chicago.