Before seriously looking to buy a home in Wyoming, consider what mortgage rate you may get. Your lender will demand a lot of information before offering a rate, including data on your income, debt-to-income ratio, doan payment savings, and credit score.
If you’re hoping for the best mortgage rate in Wyoming, documentation is key. Check your credit report and address errors well before you apply with a trustworthy lender for preapproval. Then gather the latest versions of paystubs, bank statements, and more to submit with your application.
Here’s a quick look at current Wyoming mortgage rates:
| Loan Program | Mortgage Rate | APR* | 1 Day Change |
|---|---|---|---|
| Conventional 30 year fixed | 6.593% | 6.674% | -0.04% |
| Conventional 20 year fixed | 6.898% | 7.035% | -0.1% |
| Conventional 15 year fixed | 6.16% | 6.314% | +0.21% |
| Conventional 5 year ARM | 6.725% | 7.445% | -0.06% |
| VA 30 year fixed | 6.008% | 6.415% | -0.09% |
| VA 5 year ARM | 6.125% | 6.687% | Unchanged |
Data source: ©Zillow, Inc. Use is subject to the Terms of Use
Have you been considering a home purchase in Wyoming? The Equality State may actually have the home you’ve been yearning for. Before you begin your quest, here’s everything you ever wanted to know about the state.
The nearly square state of Wyoming is home to fewer than 600,000 people, who are spread across the range with only one in three choosing to dwell in the state’s five largest cities:
WY also ranks as 39th for homes with more than 4 bedrooms.
Next, and perhaps most importantly, you’ll want to understand exactly how much home you can afford to buy. Wyoming ranks 9th in US homes for sale at average price, and 34th for homes over $1,000,000. A critical first step is to acquire a loan preapproval; it will prove essential for budgeting.
First-time homebuyers may qualify for a program administrated by the Wyoming Community Development Authority’s (WCDA.) There are several programs, including a Standard First-Time Homebuyer program for a 30-year mortgage with a fixed, low rate, and the WCDA Spruce Up program which is a mortgage and rehabilitation combination loan. Both can be combined with down payment assistance. There are two such programs available:
WCDA Homestretch Down Payment Assistance (DPA) which gives $10,000 at no interest and no monthly payment, and isn’t due unless you sell the home or refinance or pay off your first mortgage.
WCDA’s Amortizing DPA loan is also for up to $10,000 and comes with a low fixed interest rate, but must be paid back over 10 years.
Both programs require that you:
If the lower Wyoming mortgage rates have you considering whether or not to refinance your current home, there are a few options to keep in mind:
You may wish to speak up if you think you have a loan that qualifies for a streamlined refinance. Ask your lender for more information.
Use our free mortgage calculator tools to estimate your monthly mortgage payments based on your unique loan scenario. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.
Wondering what your monthly mortgage payment might be? Plug in your data to get an instant mortgage payment estimate.
Military service can mean eligibility for a no-down payment mortgage. Find out if you qualify for a VA home loan.
Designed for first-time and low-income homebuyers, an FHA loan could put you on the path to home ownership fast.
Seeking to refinance? Find out how much you can save in interest over the term of your home loan by refinancing now.
Each step-by-step guide is designed to shepherd you through a process from start to finish. Know what to expect and how to proceed, no matter where you are in your home buying journey.