Explore how much a $1,150,000 mortgage in Wisconsin could cost you. This guide provides a detailed breakdown of monthly payments and total interest for 30-year and 15-year fixed-rate mortgages on a single-family home, helping you make informed home financing decisions.
For mortgages above $766,550 - maximum conventional loan limit in Wisconsin for a single-family home, we will apply jumbo loan rates, which are currently at 6.82% accoridng to data from Optimal Blue Mortgage Market Index.
Term (Years) | National Avg. Interest Rate (%) | Monthly Payment ($) | Total interest paid ($) |
---|---|---|---|
30-year fixed | 6.82% | $7,345 | $1,494,048 |
15-year fixed | 5.84% | $9,605 | $578,941 |
Difference | 0.76% | $2,261 | $915,107 |
For 30-year fixed mortgage rates in the U.S. over the last 20 years, the historical highs and lows are as follows:
These fluctuations reflect broader economic cycles, including periods of recession, recovery, and inflation management.
This table shows the monthly payments for a $1,150,000 30-Year fixed-term Mortgage across various interest rates scenarios.
30-Year Fixed-Term Interest Rate (%) | Monthly Payment ($) |
---|---|
2.65% | $4,634 |
2.90% | $4,787 |
3.15% | $4,942 |
3.40% | $5,100 |
3.65% | $5,261 |
3.90% | $5,424 |
4.15% | $5,590 |
4.40% | $5,759 |
4.65% | $5,930 |
4.90% | $6,103 |
5.15% | $6,279 |
5.40% | $6,458 |
5.65% | $6,638 |
5.90% | $6,821 |
6.15% | $7,006 |
6.40% | $7,193 |
6.65% | $7,383 |
6.90% | $7,574 |
7.15% | $7,767 |
7.40% | $7,962 |
The highlighted rows are categorized as follows:
Over the last 20 years, 15-year fixed mortgage rates in the U.S. have experienced the following historical highs and lows:
These rates reflect significant shifts in economic conditions, with lows driven by economic stimulus and highs by tightening monetary policy. The current national average 15-Year Fixed-rate of 5.84% is highlighted white in this table. Explore the monthly payments for a $1,150,000 15-Year Fixed-Term Mortgage at different interest rates scenarios.
15-Year Fixed-Term Interest Rate (%) | Monthly Payment ($) |
---|---|
2.10% | $7,453.42 |
2.35% | $7,587.14 |
2.60% | $7,722.33 |
2.85% | $7,858.99 |
3.10% | $7,997.11 |
3.35% | $8,136.70 |
3.60% | $8,277.74 |
3.85% | $8,420.23 |
4.10% | $8,564.16 |
4.35% | $8,709.52 |
4.60% | $8,856.31 |
4.85% | $9,004.52 |
5.10% | $9,154.15 |
5.35% | $9,305.17 |
5.60% | $9,457.60 |
5.85% | $9,611.41 |
6.10% | $9,766.59 |
Closing costs are one-time expenses that typically include fees for appraisal, inspection, loan origination, title insurance, taxes, and more. For a mortgage of $1,150,000 in Wisconsin, the average closing costs can range between 2% and 5% of the loan amount. This estimate depends on various factors, including your location, lender, and type of loan. For a $1,150,000 mortgage, the estimated closing costs can range from $23,000 and $57,500.
Use the Wisconsin Closing Cost Calculator to estimate how much cash you need to close.
Understanding these costs helps you make informed decisions when choosing a mortgage lender and planning your finances.
Disclaimer
The information and calculations provided on this page are for educational purposes only and average mortgage rates are based on current data from Freddie Mac's Primary Mortgage Market Survey as of December 15, 2024 . The figures presented are estimates and may not reflect your actual mortgage costs. These estimates do not include additional expenses such as Homeowners Association (HOA) fees, mortgage insurance, closing costs, lender fees, or other related charges, which can significantly impact your total loan cost.
The actual terms of your mortgage, including interest rates, monthly payments, and total interest paid, may differ based on various factors including your credit score, financial situation, loan amount, and specific lender policies. The calculations provided here should not be construed as financial advice or a guarantee of mortgage terms.
We strongly recommend consulting with a licensed financial advisor or mortgage professional to obtain a detailed and accurate assessment tailored to your individual needs and circumstances. The information on this page is subject to change and may not be up-to-date. We disclaim any liability for inaccuracies or errors and for any decisions made based on the provided estimates.