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  1. United States
  2. Best Mortgage Brokers
  3. Mortgage Brokers in Wisconsin
  4. Madison
  5. Mortgage Affordability Calculator
1 · Your income
2 · Down payment
3 · What you can afford
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Mortgage Affordability Calculator Madison, WI

How much house can you afford in Madison? See your maximum price, monthly payment and pre-approval estimate. Free, instant, no credit check.

Updated · current rates and lending limits

Add your partner's income if you're buying together.

Car loans, credit cards, lines of credit, student loans. Not rent.

Property tax are for this state.

An estimate, not a mortgage approval or pre-approval. A mortgage broker confirms your real number.

Top-rated mortgage brokers in Madison

Ranked by TrustAnalytica from verified reviews · see the full Top 10 list →

1

Guild Mortgage - Ryan Smith

Known for clear communication and a supportive approach, Guild Mortgage - Ryan Smith offers a range of loan options including FHA, VA, and conventional mortgages. The team guides clients through every step, often helping first-time buyers turn initial setbacks into successful approvals. Some find the process less smooth after signing, but overall the service is knowledgeable and helpful.

Services & Prices
Purchase Mortgages Quoted per loan
Refinancing Quoted per loan
Pre-Approval Quoted per loan
View Profile
(608) 234-5117
Open 8:00 AM - 5:00 PM
345 W Washington Ave Suites 326, 327, 331, 333, Madison, WI 53703
General Services
Mortgage Services
2

Mike A Zilli | Fairway Independent Mortgage Corporation Loan Officer

With over 20 years of experience, Fairway Independent Mortgage Corporation’s Madison branch focuses on guiding clients through home financing with clear, personalized support. The team handles everything from pre-approval to closing, helping first-time buyers and others navigate loan options smoothly. Customers appreciate their organized approach and transparent communication throughout the… more...

With over 20 years of experience, Fairway Independent Mortgage Corporation’s Madison branch focuses on guiding clients through home financing with clear, personalized support. The team handles everything from pre-approval to closing, helping first-time buyers and others navigate loan options smoothly. Customers appreciate their organized approach and transparent communication throughout the process.

View Profile
(608) 318-4671
Open 8:00 AM - 6:00 PM
5940 Seminole Centre Ct #310, Madison, WI 53711
3

Jason Ford, Senior Mortgage Banker at Bell Bank

Bell Bank offers a range of mortgage programs, including specialized loans for doctors and dentists, supported by a team available seven days a week. Their mortgage professionals provide clear guidance through every step, with clients appreciating their responsiveness and transparency. Some find the process fast-paced but well-managed.

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(608) 225-9918
Open 00:00 - 23:59
5571 Odana Rd, Madison, WI 53719
4

Bell Bank Mortgage, Jason Weber

Bell Bank Mortgage is known for clear, proactive communication that helps make the mortgage process smooth and less stressful. The team assists with a range of home loan services, guiding clients through each step and promptly addressing questions. Customers appreciate their responsiveness and the way they keep everyone well informed throughout closing.

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(608) 345-1138
Open 8:00 AM - 5:00 PM
5571 Odana Rd, Madison, WI 53719
5

Select One Mortgage

Select One Mortgage focuses on providing competitive mortgage rates nationwide with a streamlined, fast loan process. Their services include purchase and refinance loans, debt consolidation, and home equity options, supported by online tools and secure applications. Clients appreciate the team’s responsiveness and guidance throughout each step of the mortgage experience.

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(608) 826-5626
Open 9:00 AM - 5:00 PM
1111 Deming Way, Madison, WI 53717
Where they are 10 on the map Click a pin for the profile and directions
6

Transparent Mortgage Solutions - Ritchie Baumann NMLS# 957614

Known for clear communication and transparency, Transparent Mortgage Solutions offers personalized mortgage guidance that helps clients understand every step of the loan process. The team assists with a variety of home financing options, including credit improvement advice, and is praised for being responsive and supportive throughout. Some clients note occasional wait times when questions arise.

Services & Prices
Detailed Fee Breakdown $0 - $50
Closing Cost Calculators $0 - $20
View Profile
(262) 754-3331
Open 7:00 AM - 8:00 PM
2921 Landmark Pl Ste. 215 #375, Madison, WI 53713
General Services
Fee Transparency
7

Mad City Home Loans | Rob Miller | Powered by ProVisor, Inc.

MadCity Home Loans focuses on transparent, no-surprises mortgage estimates and fast, reliable closings. The team offers a wide range of loan options, including FHA, VA, WHEDA, and Jumbo loans, along with refinancing and credit consultations. Clients appreciate the clear communication and local expertise, though some note the process can be fast-paced.

Services & Prices
Conventional Loans Quoted per loan
FHA Loans Quoted per loan
VA Loans Quoted per loan
View Profile
(608) 227-2002
Open 8:00 AM - 8:00 PM
8446 Excelsior Dr Ste 2, Madison, WI 53717
General Services
Home Financing
8

Educated Mortgage Services

Known for its Ca$h Advantage Program that helps buyers make stronger offers in competitive markets, Educated Mortgage processes, underwrites, and funds all loans in-house from its Madison office. The team offers purchase, refinance, and home equity loans with personalized guidance, often praised for clear communication and responsiveness throughout the process. Some clients note refinancing can… more...

Known for its Ca$h Advantage Program that helps buyers make stronger offers in competitive markets, Educated Mortgage processes, underwrites, and funds all loans in-house from its Madison office. The team offers purchase, refinance, and home equity loans with personalized guidance, often praised for clear communication and responsiveness throughout the process. Some clients note refinancing can take longer depending on individual circumstances.

Services & Prices
Pre-Approval Quoted per loan
Cash Advantage Program Quoted per loan
Rate Analysis Quoted per loan
Closing Costs Quoted per loan
View Profile
(608) 834-5000
Open 8:30 AM - 5:00 PM
5315 Wall St Ste 270, Madison, WI 53718
General Services
Home Purchasing
9

Connor Lanigan - Thompson Kane

Known for clear communication and responsiveness, Connor Lanigan at Thompson Kane guides clients through mortgage loans with a calm, friendly approach. The team helps with financing for first-time buyers and experienced homeowners alike, often smoothing what can be a stressful process. Some clients note availability beyond regular hours to keep things moving.

Services & Prices
Home Purchase Loans Quoted per loan
Refinancing Loans Quoted per loan
FHA Loans Quoted per loan
View Profile
(920) 350-5338
Open 00:00 - 23:59
8040 Excelsior Dr Ste 100, Madison, WI 53717
General Services
Mortgage Financing
10

Guild Mortgage Company

With a history dating back to 1960, Guild Mortgage offers a broad range of loan programs including VA, USDA, Jumbo, and renovation loans. The team provides personalized guidance and local support through in-house processing and underwriting, helping clients navigate the mortgage process with clear communication and responsiveness. Some customers note occasional scheduling challenges, but overall… more...

With a history dating back to 1960, Guild Mortgage offers a broad range of loan programs including VA, USDA, Jumbo, and renovation loans. The team provides personalized guidance and local support through in-house processing and underwriting, helping clients navigate the mortgage process with clear communication and responsiveness. Some customers note occasional scheduling challenges, but overall appreciate the smooth experience.

Services & Prices
Loan Origination Quoted per loan
Funding Letters Quoted per loan
View Profile
(608) 234-5117
Open 8:00 AM - 5:00 PM
345 W Washington Ave Suites 326, 327, 331, 333, Madison, WI 53703
General Services
Mortgage Services

Madison Mortgage Statistics

Home-purchase lending in Dane County and home costs in Madison, WI (latest HMDA and Census data)

Lenders made 6,551 home-purchase loans in Dane County in 2025 (average about $509,000) and denied 329 — 5% of decided applications, compared with 9% across Wisconsin, according to federal mortgage data (HMDA, CFPB). In Madison, the median home is worth $372,900 and 67% of owners have a mortgage, paying a median $2,098 a month (Census ACS 2020–2024).

Home-purchase loans, 2025
6,551▲ 4%6,304 in 2024
Denial rate
5%WI 9%
Median home value
$372,900WI $266,500
Monthly cost with a mortgage
$2,098median · WI $1,689
Refinance loans made (Dane County, 2025)
5,531 · 4,151 in 2024
Home-improvement loans made (2025)
2,250
Average home-purchase loan
$509,000 (WI $330,000)
Owners with a mortgage
67% · 24% of them spend 30%+ of income on housing
Median household income
$78,050 (WI $77,485)

Source: CFPB / FFIEC Home Mortgage Disclosure Act (HMDA) data, 2024–2025 loan applications in Dane County (originated vs denied); home values and costs: U.S. Census Bureau ACS 2020–2024. Compiled by TrustAnalytica.

How this Madison mortgage affordability calculator works

Lenders look at your debt-to-income ratio. Housing costs (principal and interest, property tax, homeowners insurance and mortgage insurance) should stay under about 31% of your gross monthly income, and housing plus your other monthly debts under 43%. The calculator finds the highest home price that passes both tests with your down payment, on a 30-year fixed loan.

Wisconsin rules and numbers this calculator uses

Debt-to-income
31% for housing and 43% total, the FHA standard and the long-time Qualified Mortgage limit. Some conventional loans go higher with strong credit and savings.
Down payment
At least 3% on a conventional first-time buyer loan (3.5% on FHA). Under 20% down, private mortgage insurance of about 0.6% of the loan a year is added to the payment.
Property tax
About 1.19% of the home's value a year, the Wisconsin average for owner-occupied homes (2024 Census ACS).
Insurance
Homeowners insurance assumed at $150 a month; it varies a lot by home and location.
Rate
Starts at 7.40% (Freddie Mac 30-year average, October 2026). Change it to the rate you have been quoted.

An estimate, not a mortgage approval or pre-approval. Your credit, income type, the property and the lender all change the answer; a mortgage broker confirms your real number. Sources: Freddie Mac Primary Mortgage Market Survey (October 2026), U.S. Census Bureau American Community Survey 2024 property tax data, FHA and CFPB debt-to-income guidance.

Frequently asked questions

9 questions
How does the mortgage affordability calculator work?
It estimates the highest home price you can afford in Madison based on income, debts, down payment, interest rate, and first-time buyer status.
What is the debt-to-income ratio for a mortgage in Wisconsin?
Lenders typically cap housing costs at 31% and total debt payments at 43% of gross monthly income, following FHA standards.
What is the minimum down payment for first-time buyers in Madison?
First-time buyers can put down as little as 3% on conventional loans or 3.5% on FHA loans; VA and USDA loans may allow 0% down.
How does PMI affect my mortgage in Wisconsin?
With less than 20% down, PMI adds about 0.6% of the loan annually; it can be removed once the balance is under 80% of the home's value.
How do interest rates affect how much house I can afford?
Higher interest rates increase monthly payments, reducing the home price you can afford. Rates start at 7.40% in this calculator and change weekly.
How do debts impact my mortgage affordability?
Existing debts reduce the amount you can borrow, as lenders cap total debt payments at 43% of your gross monthly income.
What are property taxes like in Wisconsin?
Wisconsin's property tax is about 1.19% of the home's value annually, based on the 2024 average for owner-occupied homes.
What is the difference between pre-approval and pre-qualification?
Pre-approval involves lender verification of income, debts, and credit, providing a confirmed loan amount; pre-qualification is an initial estimate.
What does a mortgage broker do?
A mortgage broker helps find and negotiate mortgage terms with lenders, but this calculator provides an initial affordability estimate without one.

General information, not financial advice — consult a qualified professional.