NMHL Mortgage Lending
Mortgage Lender in Racine, WI
Local expertise and competitive rates for Racine homebuyers.
Racine, Wisconsin's scenic lakefront and rich history make it an attractive place to call home. As of 2023, the median home price in Racine stands at approximately $180,000, according to recent market data. The local housing market is characterized by a mix of older homes and newer developments, with neighborhoods like Downtown Racine and Uptown showcasing the city's revitalization efforts. At National Mortgage Home Loans (NMHL), we understand the unique challenges faced by Racine borrowers, including those with bad credit or self-employed individuals. Our team is dedicated to providing personalized mortgage solutions that cater to the diverse needs of our clients.
NMHL offers a range of mortgage programs, including FHA, VA, and USDA loans, to help borrowers achieve their homeownership goals. Our expertise in handling complex financial situations, such as those involving non-traditional income or credit history, sets us apart from other lenders. By choosing NMHL, Racine borrowers can benefit from competitive rates, flexible underwriting, and a streamlined pre-approval process.
Whether you're a first-time homebuyer or an experienced homeowner, our knowledgeable loan officers are here to guide you through the mortgage process. With NMHL, you can trust that you're working with a lender who is committed to helping you succeed in Racine's competitive housing market.
Racine Housing Market Overview
Explore mortgage options in Racine, WI with NMHL. Our local expertise helps you navigate the Racine real estate market with competitive rates and personalized service.
See What You Qualify For
Takes about 5 minutes. No obligation. No credit check until you are ready.
Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Racine
Explore mortgage options tailored to Racine homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
Learn MoreWhat Our Clients Say
Real reviews from Google — no cherry-picking
Our Presence
Click on endorsed states to see our direct resources!
Exploring Racine's Neighborhoods
Racine's diverse neighborhoods offer a range of housing options, from historic homes to modern developments. Downtown Racine and Uptown are popular areas, with their vibrant atmosphere and mix of shops, restaurants, and entertainment venues. Other notable neighborhoods include Windpoint, known for its beautiful lakefront properties, and Northside, which features a mix of older homes and newer construction.
- Downtown Racine: Revitalized area with a mix of historic and modern homes
- Uptown: Vibrant neighborhood with shops, restaurants, and entertainment
- Windpoint: Upscale lakefront community with high-end homes
Contact NMHL to explore mortgage options in Racine's diverse neighborhoods
First-Time Homebuyer Programs in Wisconsin
Wisconsin offers several programs to help first-time homebuyers achieve their dreams of homeownership. The WHEDA First-Time Homebuyer Program provides competitive interest rates and down payment assistance. NMHL can help you navigate these programs and determine your eligibility.
Other programs available in Wisconsin include the Wisconsin First-Time Homebuyer Tax Credit, which can help offset the costs of homeownership. Our knowledgeable loan officers can guide you through the application process and help you make the most of these programs.
NMHL is here to help you explore first-time homebuyer programs in Wisconsin
Mortgage Options for Underserved Borrowers
At NMHL, we understand that not all borrowers fit the traditional mold. That's why we offer a range of mortgage programs designed to help underserved borrowers, including those with bad credit, self-employed individuals, and veterans. Our loan officers have extensive experience in handling complex financial situations and can help you find a mortgage solution that meets your needs.
- FHA loans for borrowers with lower credit scores or smaller down payments
- VA loans for veterans and active-duty military personnel
- USDA loans for borrowers purchasing homes in rural areas
NMHL is committed to helping underserved borrowers achieve their homeownership goals
The NMHL Advantage in Racine
At NMHL, we're dedicated to providing personalized mortgage solutions to Racine borrowers. Our team of experienced loan officers is committed to helping you navigate the mortgage process, from pre-approval to closing. With our competitive rates, flexible underwriting, and streamlined process, you can trust that you're working with a lender who is truly invested in your success.
Contact us today to schedule a consultation and take the first step toward achieving your homeownership goals in Racine.
Get started with NMHL today and experience the difference for yourself
Frequently Asked Questions
Mortgage rates in Racine vary depending on the loan program and borrower profile. At NMHL, we offer competitive rates starting from 6.5% APR for conventional loans. Contact us for a personalized rate quote and to discuss your mortgage options.
While traditional lenders may have strict credit score requirements, NMHL offers alternative mortgage programs for borrowers with less-than-perfect credit. We consider factors beyond credit scores, such as income stability and debt-to-income ratio. Our loan officers can help you explore options like FHA loans, which allow credit scores as low as 580 with a 3.5% down payment.
Racine's average effective property tax rate is approximately 1.83%, which is higher than the national average. Homeowners in Racine can expect to pay around $3,294 in annual property taxes on a median-priced home of $180,000. It's essential to factor property taxes into your mortgage planning to ensure you can afford the total cost of homeownership.
Yes, Wisconsin offers several down payment assistance programs that can help Racine borrowers. The Wisconsin Housing and Economic Development Authority (WHEDA) provides down payment assistance loans with favorable terms, such as 0% interest and deferred repayment. NMHL can help you navigate these programs and determine your eligibility.
School districts play a significant role in determining home values in Racine. The Racine Unified School District serves the city, with some of its schools receiving top ratings. Homes located within highly-rated school districts tend to appreciate in value over time, making them a desirable choice for families. When searching for a home in Racine, consider the local school district and its impact on property values.
Yes, NMHL offers mortgage pre-approval for self-employed borrowers in Racine. We understand that self-employed individuals may have unique income documentation requirements. Our loan officers will work with you to gather the necessary financial information and provide a pre-approval letter to help you navigate the homebuying process with confidence.
Related Resources
Ready to Buy in Racine?
Let NMHL help you navigate the Racine housing market with expert guidance and competitive rates.