Home Equity Loans

Is your bathroom too small?  Does your kitchen need updating?  No matter what changes your home needs, we can help you get the money you need to get things done.  With a Bank of Sun Prairie Home Equity Loan or Home Equity Line of Credit you are guaranteed a competitive rate and the finest professional assistance.  Call or request an Application online and we will help you find the loan product that best meets your needs.

For more information call Michelle Hahn or Judy Veith in Sun Prairie at 608-837-4511 or Gayle Kuzenski in our Cottage Grove office at 608-839-3977.

Mortgage Loans

We offer a variety of fixed-rate mortgages.  Fixed rate mortgages are the most popular and the type of mortgage familiar to most people.  The main advantage of this kind of loan is that the loan payment remains constant for the life of the loan.  Use our financial calculators to weigh your options on loan type, payments, qualification and more. 

The bank also offers Adjustable-Rate Mortgages (ARMs) which are popular for homebuyers when interest rates are high, if a homebuyer is not planning to own the residence for very long, or in the case where a homebuyers income is expected to steadily rise.

Sun Mortgage Program

The Sun Mortgage Program offers benefits over and above “conventional type” mortgages.  Enjoy perks such as 100% financing with no Private Mortgage Insurance,  which can save some customers up to $100 or more in their monthly payment! This is an all-in-1 loan verses an  80/20 1st and 2nd mortgage, often at a variable rate. This program helps not just first time buyers, but is available to previous owners as well, possibly allowing them to use proceeds of a previous home to payoff personal debt. And the best part is that all loans are serviced locally in Sun Prairie. So you get great customer service with a real person, not a stranger on a toll-free phone line.

Special Characteristics:

• Prospective clients can be first time buyers or previous owners
• Minimum 720 credit score with 3 verifiable credit sources minimum (this can include other typical sources, such as insurance payments, rent, phone bills)
• Income Limits and Purchase Price limits to follow WHEDA’s set guidelines. 
• 100% financing (Down payment assistance programs can be used)
• No Pmi Requirement
• Minimum 2 years in same employment field and or/college equivalent
• No cash back to clients at closing
• 1-4 Owner Occupied properties only
• Loan Prospector “accept” required
• Properties to require no immediate major repairs/improvements that could not be
• funded/corrected at or before closing.
• Escrow required for property tax
• Clients are required to open a deposit relationship with Bank of Sun Prairie and are
• required to have an automatic payment transfer for mortgage payments.

The following down payment assistance programs may be used:

• Dane County Housing Authority
• Down Payment Plus-FHLB
• City of Madison Home Buy
• South Central Wisconsin Housing Foundation
• Movin Out

Interest rate to be .15 basis points over FHLMC posted 30 year rate.

Term: 30 year fixed rate