Wyoming Mortgage and Refinance Rates
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| Lender | Rate | APR | Mo. payment | as of May 2, 2025 | |
|---|---|---|---|---|---|
Current mortgage rates in Wyoming
As of Friday, May 02, 2025, current mortgage interest rates in Wyoming are 7.00% for a 30-year fixed mortgage and 6.00% for a 15-year fixed mortgage.
Mortgage rates started 2025 above 7 percent, following several months of increases, even after the Federal Reserve implemented three rate cuts last year. Despite a brief drop well below 7 percent in early April, rates have ticked back up closer to 7 percent. Although mortgage rates are unpredictable and often fluctuate, experts predict they’ll remain between the 6 and 7 percent range for most of 2025.
Refinance rates in Wyoming
While mortgage refinance rates have more than doubled since the pandemic, 2025 may bring about mini refi booms if rates swing down amid a volatile rate market. Homeowners who locked in rates at their peak within the last few years might get the opportunity to refinance to lower rates and save money on their monthly payments.
In addition, many Wyoming homeowners have much more tappable equity now. On average, U.S. homeowners with a mortgage gained about $5,700 in equity for the third quarter of 2024 compared to the same time in 2023, according to Cotality. With a cash-out mortgage refinance, you could take advantage of this asset to help further your financial goals.
National mortgage rates by loan type
| Product | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed Rate | 6.76% | 6.82% |
| 15-Year Fixed Rate | 5.93% | 6.03% |
| 30-Year Fixed Rate FHA | 6.39% | 6.45% |
| 30-Year Fixed Rate VA | 6.45% | 6.50% |
| 30-Year Fixed Rate Jumbo | 6.80% | 6.84% |
Rates as of Friday, May 02, 2025 at 6:30 AM
Wyoming mortgage rate housing market statistics and trends
Due to elevated prices and mortgage rates still not expected to drop below 6 percent in 2025, home affordability is still difficult for many homebuyers in Wyoming. However, not every area is the same — and there are still some affordable areas to buy property in the state.
If you're hoping to buy in Wyoming, check out these statistics about the housing market in the state:
- Most popular cities: Cheyenne, Casper, Gillette, Laramie, Sheridan
- Most affordable counties, Feb 2025: Carbon, Goshen, Hot Springs, Niobrara, Washakie, Weston
- Median home sales price, Feb. 2025: $346,014
- Median days to pending, March 2025: 48
- Homeownership rate, Q4 2024: 73.9%
Sources: ATTOM, Zillow, U.S. Census Bureau
Mortgage options in Wyoming
If you’re looking to get a mortgage in Wyoming, consider these loan options:
- Wyoming conventional mortgages: To qualify for a conventional loan, you’ll need a credit score of at least 620 and a debt-to-income (DTI) ratio of no more than 45 percent. If you make a down payment of less than 20 percent, you’ll need to pay for private mortgage insurance (PMI), as well.
- Wyoming FHA loans: If your credit history disqualifies you from a conventional loan, you might be eligible for a loan insured by the Federal Housing Administration (FHA). For this type of mortgage, you’ll need a credit score of at least 580 with a 3.5 percent down payment. As with a conventional loan, if you put down less than 20 percent on an FHA loan, you’ll be on the hook for mortgage insurance.
- Wyoming VA loans: If you’re an eligible veteran or active-duty member of the military, you might qualify for a mortgage backed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee.
First-time homebuyer programs in Wyoming
The Wyoming Community Development Authority (WCDA) offers mortgage programs to assist first-time homebuyers, along with down payment assistance and a mortgage credit certificate, all of which can help make homeownership more affordable for you. Here’s an overview of some options:
- WCDA Standard First-Time Homebuyer loan: Through its lender partners, the WCDA offers a 30-year, fixed mortgage with a low interest rate to first-time buyers. To qualify, your income can’t exceed certain limits, and you can’t buy a home over a specific price, depending on the size of your household and where you end up buying.
- Spruce Up loan: If you’re a first-time homebuyer and looking at a fixer-upper, consider a Spruce Up loan, which finances the purchase of the home and any renovations with one mortgage. This means you’ll have fewer closing costs than obtaining two separate loans.
- Down payment assistance: If you need help making a down payment, the WCDA offers two assistance options worth exploring: a zero-interest deferred loan up to $15,000; or a 10-year fixed-rate, low-payment loan, also up to $15,000. Both loans require a minimum credit score of 620 and a minimum borrower contribution of $1,500.
- Mortgage credit certificate (MCC): A mortgage credit certificate (MCC) allows you to claim a federal tax credit for the life of the loan. There are fees involved, but if you plan to stay in the home for the long haul, they might be well worth the cost in tax savings.
How to find the best mortgage rate in Wyoming for you
When shopping for a mortgage, be sure to compare at least three different lenders — research shows this exercise can save you thousands of dollars over the life of a loan. You might also want to read Wyoming lender reviews to get an idea of the customer experience with lenders in the state.
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Step 1: Strengthen your credit score - Long before you start looking for a mortgage lender or applying for a loan, give your finances a checkup, and improve your credit score if needed.
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Step 2: Determine your budget - To find the right mortgage, you’ll need a good handle on how much house you can afford.
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Step 3: Know your mortgage options - There are a few different types of mortgages, some of which are easier to qualify for than others.
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Step 4: Compare rates and terms from several lenders - Rate-shop with at least three different banks or mortgage companies.
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Step 5: Get preapproved for a mortgage - Getting a mortgage preapproval is the only way to get accurate loan pricing for your specific situation.
Additional Wyoming mortgage resources
- Wyoming loan limits by county: See the FHA and conforming loan limits for local cities and counties.
- Wyoming mortgage lenders hub: Learn which lenders do business in Wyoming.
- Wyoming homeowners insurance: Check out these homeowners insurance companies to choose the right policy for you.
Meet our Bankrate experts
Written by: Andrew Dehan, Writer, Home Lending
I’ve covered mortgages, real estate and personal finance since 2020. At Bankrate, I’m focused on all of the factors that affect mortgage rates and home equity. I enjoy distilling data and expert advice into takeaways borrowers can use. Prior to Bankrate, I wrote and edited for Rocket Mortgage/Quicken Loans. My work has been published by Business Insider, Forbes Advisor, SmartAsset, Crain’s Business and more.
Edited by: Laurie Richards, Editor, Home Lending
I’ve spent five years in writing and editing roles, and I now focus on mortgage, mortgage relief, homebuying and mortgage refinancing topics. I’m most interested in providing resources for aspiring first-time homeowners to help demystify the homebuying process. In 2021, I earned a Poynter ACES Certificate in Editing. I have an MA in English.