Wyhy Mortgage Rates, Fees & Info
Cheyenne, WYLEI: 5493004JDNBZNOT8PR69
Tax ID: 83-0176464
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Mortgage Data
Review & Overview
Wyhy is a smaller mortgage company specializing in Cash Out Refi loans. Wyhy has a high proportion of conventional loans. Their top markets by origination volume include: Cheyenne, Casper, Riverton, Sheridan, and Gillette among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Wyhy has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.71% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Wyhy Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
182Origination Dollar Volume (All Markets)
$27,120,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| CHEYENNE, WY (FHA|USDA|VA) | 97 | $16,365,000 | $168,711 | $1,349 | 3.30% |
| CASPER, WY (FHA|USDA|VA) | 59 | $7,815,000 | $132,458 | $1,103 | 3.25% |
| Outside of Metro Areas | 15 | $1,725,000 | $115,000 | $1,119 | 3.23% |
| Riverton, WY (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $798 | 3.52% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,717 | 3.15% |
| Gillette, WY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,284 | 3.10% |
| Laramie, WY (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $111 | 2.68% |
| Rock Springs, WY (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $639 | 3.89% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 182 | $27,120,000 | $149,011 | $1,229 | 3.28% |
For 2021, Wyhy's most frequently originated type of loan was Conventional, with 182 originations.
Loan Reason
For 2021, Wyhy's most frequently cited loan purpose was Cash Out Refi, with 113 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
For 2021, Wyhy's most frequently cited loan duration was 20 Year, with 75 originations. The 2nd most popular length was 10 Year, with 73 originations.
Origination Fees/Closing Costs
Wyhy's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 97 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 101 | $17,495,000 | $173,218 |
| 2.5-3% | 61 | $7,765,000 | $127,295 |
| 4-5% | 14 | $1,620,000 | $115,714 |
| <2.5% | 4 | $130,000 | $32,500 |
| 5-6% | 2 | $110,000 | $55,000 |
During 2021, Wyhy's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 101 originations.
Loan Sizing
2021 saw Wyhy place emphasis on $100k-200k loans with 73 originations, totaling $10,575,000 in origination value.
Applicant Income
Wyhy lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $75k-100k, with 46 originations.
Applicant Debt to Income Ratio
Wyhy lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 28 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 181 | $27,055,000 | $149,475 | $1,231 | 3.28% |
| American Indian | 1 | $65,000 | $65,000 | $874 | 3.29% |
Approval Rates
Total approvals of all applications94.85%
Wyhy has an average approval rate.
Pick Rate
Approvals leading to origination68.13%
Wyhy has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 1 | $135,000 | $135,000 |
| NA | 181 | $26,985,000 | $149,088 |