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Mortgage Options

You want a home, not a home loan. We'll help you stress less about the buying process so you can focus more on how to organize your new kitchen. Our Mortgage Loan Officers will do the heavy lifting when choosing your best financing options. With so many loan options to choose from, your journey to buying a house just became a lot less complicated. 
 
If you are in search of a home but haven't found one yet, a pre-approval might be the first place to start. 

Pre-Approval

Before you fall in love with your dream home, get pre-approved1!
  • Free and easy
  • Peace of mind knowing what you can afford
  • Gives you the ability to make a purchase offer on the spot
  • Assists in faster mortgage closing
Start the pre-approval process online today!


With many loan options to choose from, we are confident we can help find the loan that is right for you. Apply for your mortgage today. Visit our Mortgage Center to get started! You can choose a loan officer in your area or apply now if you are ready. 


  
Did you already start your loan application? You can return to complete or add more information.


Fixed Rate Mortgages

A fixed rate mortgage1 locks in your loan rate for the life of your loan. With several loan terms available, you can feel confident knowing you are getting the best interest rate for your long-term needs and financial situation.

  • Variety of loan terms and down payment options
  • Designed for one to four family dwellings and/or second home financing
  • Refinance options available

Adjustable Rate Mortgages (ARM)

With an adjustable rate mortgage (ARM)1, the loan rate is fixed for an initial period of time, after which it resets periodically. If you’re planning on buying and selling again in a few years, an ARM may be a good fit for you.

  • Variety of loan terms and down payment options
  • Designed for one to four family dwellings and/or second home financing
  • Protection from large rate increases with rate caps

USDA Guaranteed Rural Housing

This federally guaranteed loan1 program helps low-to-moderate income buyers who live in rural areas and communities become homeowners. You must meet income and resident eligibility requirements.

  • Low to no down payment options
  • Current and first-time home buyers are eligible
  • For primary residence only

Learn more about the Wisconsin income eligibility and home purchase information by visiting USDA Rural Housing's website or simply call us and we’ll tell you!


Medical Profession Mortgage Program

This exclusive program is designed for medical professionals with deferred student loan debt who are entering certain medical professions. Even with significant student loan debt, a home loan is still possible. You take care of your patients, make us your banking partner and we'll take care of you! 



Construction Loans

Ready to build? Finance1 with a bank that understands home construction!

  • Interest only payments during construction period
  • Pay only on what you borrow as the project progresses
  • Refinance options upon completion of construction

Get started with our construction checklist! When you are almost done with your new build, use our pre-closing checklist during your walk-through with your builder.



Land Purchase Loans

Future Building Site

Found the perfect building site? Buy it now and build later! 

  • No down payment required
  • Purchase1 up to 40 acres
  • For primary residence only

Recreational Land Loans

Looking for land for hunting, fishing, or other outdoor activities? Whether it's a few acres or a few hundred acres, each situation is unique. Finance1 your adventure with AbbyBank! 

Home Equity Options

Home is where it counts! Whether it’s for a vehicle purchase, home improvements or that trip of a lifetime, take advantage of your home’s equity however you see fit!

Home Equity Loans

With a Home Equity loan1, lock in the interest rate and feel secure knowing what your payments are each month.

  • Borrow up to 90% of your home’s value, minus the outstanding mortgage balance

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is a revolving line of credit1 secured by your primary residence, which allows you to borrow and repay on a revolving basis. With an equity line, you can borrow as much or as little as you need, whenever you need it, up to 90% of the current value of your home, minus the amount owed on your AbbyBank first mortgage loan.

As you repay the outstanding balance on the HELOC, the amount of credit available to you is replenished, giving you the opportunity to borrow the funds again as needed – much like a credit card.

 

¹All loans are subject to credit approval

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.

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.  

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.

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.