Washburn County, Wisconsin
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Washburn Real Estate Market Update
Washburn County, Wisconsin, presents a diverse real estate market with a median home value of approximately $196,900. The area has seen a variety of home prices, with a significant portion of homes valued between $100,000 and $399,000. The rental market is also active, with a median rent of $805, reflecting a cost-effective living option compared to national averages.
The county encompasses several notable cities, including Spooner, Birchwood, Minong, and Shell Lake. Spooner, the largest city, is known for its vibrant community and serves as a hub with a population of around 2,600 residents. Birchwood and Minong offer smaller, close-knit communities with populations of approximately 400 and 500, respectively, while Shell Lake is home to about 1,300 people, providing a mix of rural charm and suburban amenities.
Living in Washburn County offers a blend of rural and suburban lifestyles, with agriculture playing a significant role in the local economy. The county is characterized by its scenic landscapes, making it attractive for those seeking a quieter, nature-oriented lifestyle. The top industries include agriculture, manufacturing, and tourism, drawing individuals and families looking for a peaceful environment with opportunities for outdoor recreation. The county's appeal is enhanced by its affordable housing and the migration of people seeking a balance between rural tranquility and suburban convenience.
2025 Mortgage Loan Limits:
Washburn County, Wisconsin
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Washburn County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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