Current Mortgage Rates in Madison

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Loan Type	Rate	APR	Points	Est. Monthly Payment
FHA 30-Year Fixed	6.875%	7.697%	1.898	$3,159
VA 30-Year Fixed	6.750%	7.132%	1.766	$3,118
Conventional 15-Year Fixed	6.625%	7.069%	1.942	$3,892
Conventional 30-Year Fixed	7.125%	7.418%	2.051	$3,177
Jumbo 30-Year Fixed	7.250%	7.461%	1.925	$8,464

Loan Type	Rate	APR	Points	Est. Monthly Payment
FHA 30-Year Refinance	7.000%	7.866%	2.443	$3,189
VA 30-Year Refinance	7.000%	7.288%	2.301	$3,160
Conventional 15-Year Refinance	6.875%	7.358%	2.339	$3,941
Conventional 30-Year Refinance	7.375%	7.662%	2.161	$3,237
Jumbo 30-Year Refinance	7.250%	7.502%	2.250	$8,464

Loan Type	Rate	APR	Points	Est. Monthly Payment

FHA 30-Year Fixed: Interest rate offered based on $356,125 loan amount with 7.697% APR and $3,159 monthly payment at 70% loan-to-value (LTV) and 1.898 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 12, 2026.

VA 30-Year Fixed: Interest rate offered based on $354,375 loan amount with 7.132% APR and $3,118 monthly payment at 70% loan-to-value (LTV) and 1.766 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 9, 2026.

Conventional 15-Year Fixed: Interest rate offered based on $350,000 loan amount with 7.069% APR and $3,892 monthly payment at 70% loan-to-value (LTV) and 1.942 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 9, 2026.

Conventional 30-Year Fixed: Interest rate offered based on $350,000 loan amount with 7.418% APR and $3,177 monthly payment at 70% loan-to-value (LTV) and 2.051 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 9, 2026.

Jumbo 30-Year Fixed: Interest rate offered based on $950,001 loan amount with 7.461% APR and $8,464 monthly payment at 70% loan-to-value (LTV) and 1.925 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 1, 2026.

Estimated property taxes are based on a 1.63% effective rate for Dane County, Wisconsin, applied to the property value for each scenario shown. Rate is median real estate tax paid by households with a mortgage divided by median home value, per the American Community Survey 2020–2024. Taxes shown are an estimate only and vary by property.

Estimated homeowners insurance is based on an average annual premium of $1,687 for Madison, WI, divided by twelve. That average covers existing homes of all values in the area, not the property value shown. Insurance shown is an estimate only and varies by property, coverage and carrier.

FHA 30-Year Refinance: Interest rate offered based on $356,125 loan amount with 7.866% APR and $3,189 monthly payment at 70% loan-to-value (LTV) and 2.443 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 12, 2026.

VA 30-Year Refinance: Interest rate offered based on $351,750 loan amount with 7.288% APR and $3,160 monthly payment at 70% loan-to-value (LTV) and 2.301 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 9, 2026.

Conventional 15-Year Refinance: Interest rate offered based on $350,000 loan amount with 7.358% APR and $3,941 monthly payment at 70% loan-to-value (LTV) and 2.339 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 12, 2026.

Conventional 30-Year Refinance: Interest rate offered based on $350,000 loan amount with 7.662% APR and $3,237 monthly payment at 70% loan-to-value (LTV) and 2.161 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 9, 2026.

Jumbo 30-Year Refinance: Interest rate offered based on $950,001 loan amount with 7.502% APR and $8,464 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal, Interest, estimated property taxes and estimated homeowners insurance example only. Rate shown is current as of October 1, 2026.

Estimated monthly payment includes principal, interest, estimated Madison, WI property taxes, and estimated homeowners insurance.

Madison housing market at a glance

September 2026 data

In Madison, homes are selling in about 46 days (13 slower than a year ago), sales are up 22.5% from last year, and about 26% of listings have had a price cut.

Median sale price

$450,000

$256 per sq. ft.

Homes sold

767

▲ 22.5% vs. 626 last year

Days on market

vs. 33 days last year

Homes for sale

804

48 new listings

Listings with a price cut

26%

209 of 804 listings

Source: Movoto Madison, WI market trends, September 2026. Last updated October 5, 2026.

What it costs to buy a home in Madison

Monthly payments on Madison's median home price of $450,000 (September 2026), at today's rates.

20% down · Conventional

$3,177/mo

Down payment: $90,000
Loan amount: $360,000
Rate: 7.125%
Principal & interest: $2,425
Est. property tax: $611
Est. homeowners insurance: $141

5% down · Conventional

$3,632/mo

Down payment: $22,500
Loan amount: $427,500
Rate: 7.125%
Principal & interest: $2,880
Est. property tax: $611
Est. homeowners insurance: $141

3.5% down · FHA

$3,655/mo

Down payment: $15,750
Loan amount: $441,849
Rate: 6.875%
Principal & interest: $2,903
Est. property tax: $611
Est. homeowners insurance: $141

Payments include principal, interest, estimated Madison property taxes, and estimated homeowners insurance. They do not include mortgage insurance (PMI or FHA monthly MIP), which applies with less than 20% down, or HOA dues. The FHA loan amount includes the 1.75% upfront mortgage insurance premium. These are examples based on the median price, not the sample loan used in the rate table above.

How much income do you need to buy a home in Madison?

A common lender guideline is to keep your total housing payment (principal, interest, estimated Madison property taxes, and estimated homeowners insurance) at or below 28% of your gross monthly income. Gross income is what you earn before taxes and other deductions come out of your paycheck. Based on that guideline, here's the yearly household income needed for Madison's $450,000 median home:

20% down · Conventional$3,177/mo payment $136,170/yrabout $11,347/mo before taxes

5% down · Conventional$3,632/mo payment $155,660/yrabout $12,972/mo before taxes

3.5% down · FHA$3,655/mo payment $156,624/yrabout $13,052/mo before taxes

Why this matters: Keeping housing costs near 28% of your income leaves room for other bills, savings and the upkeep that comes with owning a home. It's a planning guideline, not a hard limit.

What lenders look at: Lenders also look at your debt-to-income (DTI) ratio, which adds your car, student loan and credit card payments to the new mortgage payment. Depending on the loan program and your credit, many lenders allow total debts of roughly 43% to 50% of gross income, so you may qualify with less income than shown, or need more if you carry other debt.

Household income counts: If you're buying with a partner or co-borrower, lenders can combine your incomes.

How rates change your payment

Principal and interest on a $360,000 loan (the Madison median price with 20% down). Every 0.25% is worth about $60/mo.

Rate	6.13%	6.38%	6.63%	6.88%	7.13% today	7.38%
Monthly P&I	$2,187	$2,246	$2,305	$2,365	$2,425	$2,486

Ways to make a Madison home more affordable

Negotiate on price. About 26% of Madison listings have had a price cut, so many sellers are open to offers.
Ask for seller concessions. Homes take 46 days to sell, 13 more than last year. Sellers may cover closing costs or pay for a rate buydown.
Consider buying down your rate. On this example loan, a rate 0.5% lower saves about $120 a month.
Compare loan types. FHA rates are at 6.875% vs. 7.125% for conventional, with as little as 3.5% down. Compare by APR, including mortgage insurance.

Madison mortgage and home buying FAQs

What are mortgage rates in Madison today?

As of October 9, 2026, Lower’s 30-year fixed conventional rate in Madison is 7.125% (7.418% APR), and the 30-year FHA rate is 6.875% (7.697% APR). Your rate depends on your credit, down payment, loan type and any points you pay. See the rate table above for points and full details.

What is the monthly payment on a median-priced home in Madison?

On Madison’s $450,000 median home price (September 2026), a 30-year conventional loan with 20% down at 7.125% comes to about $3,177 a month, including principal, interest, estimated Madison property taxes, and estimated homeowners insurance. With an FHA loan and 3.5% down, it’s about $3,655 a month before monthly mortgage insurance.

How much income do I need to buy a house in Madison?

To keep housing costs at 28% of gross (pre-tax) income, you’d need a household income of about $136,170 a year to buy Madison’s $450,000 median home with 20% down, or about $156,624 with an FHA loan and 3.5% down. Lenders also consider your other debts, so the income you need may be higher or lower.

How much do I need for a down payment in Madison?

On the $450,000 median home, 20% down is $90,000, 5% down is $22,500, and the FHA minimum of 3.5% is $15,750. Putting less than 20% down usually means paying mortgage insurance. You’ll also need money for closing costs.

Is it a buyer’s or seller’s market in Madison right now?

In September 2026, Madison homes sold in about 46 days, 13 days slower than a year earlier. 767 homes sold, up from 626 the year before, and about 26% of the 804 homes for sale have had a price cut. Slower sales and frequent price cuts generally give buyers more room to negotiate than a year ago.

How much does a quarter-point rate change affect payments in Madison?

On a $360,000 loan (the median Madison home with 20% down), each 0.25% change in rate moves the principal and interest payment by about $60 a month, or about $725 a year.

How much are property taxes in Madison?

Lower estimates Madison property taxes at about 1.63% of a home’s value per year. On the $450,000 median home, that’s roughly $7,335 a year, or $611 a month. Your actual bill depends on your assessed value and any exemptions.

Market data: Movoto, September 2026. Homeowners insurance estimates are based on average annual premiums in Madison from The Zebra; your quote will vary. Rates as of October 9, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, down payment, loan type and other factors.

5.0

Ashley's whole team are open to help you, to the best of their capibilities w/ open arms!

Danielle T.

Verified Customer

October 1, 2026

5.0

The excellent almost 24/7 communication and hard work from Claudia is the only reason we were able to close ! She worked well with my very specific circumstances and was DEDICATED to my case. Extremely happy with resul…ts.

Bryce J.

Verified Customer

August 30, 2026

5.0

Working with Edgard has been exceptional from the very first transaction. He is the kind of loan officer who looks for solutions, not obstacles, and consistently finds ways to make a deal work. I am genuinely grateful for the dedication he brin…gs to my clients and my transactions. He has made deals happen when other lenders could not, and my buyers have been thrilled with the results. Edgard goes far beyond what is typical in this industry. He is hands‑on with every step of the process—he doesn’t pass tasks off to others, he stays involved and engaged from start to finish. He is honest, patient, and willing to hold a buyer’s hand when needed. Recently, he even took one of my buyers to their own banks to help them gather the required documentation. That level of care is rare. We have closed several transactions together, all successful, and he continues to work diligently all the way through closing. My words may not fully capture how extraordinary he is. He thinks creatively, approaches challenges with an “out‑of‑the‑box” mindset, and is available nights and weekends when the situation calls for it. He truly cares about his clients and the deals he works on, and people feel that immediately. It is not easy in today’s market to find someone like Edgard. I will continue recommending him to my buyers—and to my colleagues’ buyers as well. He is an excellent communicator and even helped keep my nervous sellers calm while representing the buyer. Thank you, Edgard, for your hard‑earned efforts, your care, and your diligence. Respectfully, Laurie Ann von Wald

Laurieann W.

Verified Customer

August 31, 2026

5.0

Working with Sean was a great experience! He made the home-buying process smooth and easy to understand, was always responsive, and helped us every step of the way. Thank you! :)

Kristina C.

Verified Customer

August 2, 2026

5.0

Gabriela was always very responsive. She was willing To take time to explain and answer questions. She made the first time home buying experience go as smooth as possible.

Katie S.

Verified Customer

September 8, 2026

5.0

Sarah was very easy to talk to and answered all of my questions. There was alot i had to do but she made it easy to do

Blake E.

Verified Customer

September 13, 2026

Danielle T. rated Ashley Higdon 5.0 stars: Ashley's whole team are open to help you, to the best of their capibilities w/ open arms! Bryce J. rated Claudia Diaz 5.0 stars: The excellent almost 24/7 communication and hard work from Claudia is the only reason we were able to close ! She worked well with my very specific circumstances and was DEDICATED to my case. Extremely happy with results. Laurieann W. rated Edgard Gonzalez 5.0 stars: Working with Edgard has been exceptional from the very first transaction. He is the kind of loan officer who looks for solutions, not obstacles, and consistently finds ways to make a deal work. I am genuinely grateful for the dedication he brings to my clients and my transactions. He has made deals happen when other lenders could not, and my buyers have been thrilled with the results. Edgard goes far beyond what is typical in this industry. He is hands‑on with every step of the process—he doesn’t pass tasks off to others, he stays involved and engaged from start to finish. He is honest, patient, and willing to hold a buyer’s hand when needed. Recently, he even took one of my buyers to their own banks to help them gather the required documentation. That level of care is rare. We have closed several transactions together, all successful, and he continues to work diligently all the way through closing. My words may not fully capture how extraordinary he is. He thinks creatively, approaches challenges with an “out‑of‑the‑box” mindset, and is available nights and weekends when the situation calls for it. He truly cares about his clients and the deals he works on, and people feel that immediately. It is not easy in today’s market to find someone like Edgard. I will continue recommending him to my buyers—and to my colleagues’ buyers as well. He is an excellent communicator and even helped keep my nervous sellers calm while representing the buyer. Thank you, Edgard, for your hard‑earned efforts, your care, and your diligence. Respectfully, Laurie Ann von Wald Kristina C. rated Sean Antonius 5.0 stars: Working with Sean was a great experience! He made the home-buying process smooth and easy to understand, was always responsive, and helped us every step of the way. Thank you! :) Katie S. rated Gabriela Slazak 5.0 stars: Gabriela was always very responsive. She was willing To take time to explain and answer questions. She made the first time home buying experience go as smooth as possible. Blake E. rated Sara Pipkin 5.0 stars: Sarah was very easy to talk to and answered all of my questions. There was alot i had to do but she made it easy to do

Madison, WI Mortgage Rates Today