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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Cheyenne, Casper, Rock Springs, Gillette, and Sheridan 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. Wyhy is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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
110Origination Dollar Volume (All Markets)
$12,330,000Top 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) | 44 | $5,090,000 | $115,682 | $2,831 | 5.50% |
| CASPER, WY (FHA|USDA|VA) | 40 | $4,350,000 | $108,750 | $2,062 | 5.51% |
| Outside of Metro Areas | 9 | $1,375,000 | $152,778 | $3,376 | 5.22% |
| Rock Springs, WY (FHA|USDA|VA) | 9 | $825,000 | $91,667 | $1,331 | 6.29% |
| Gillette, WY (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $628 | 5.92% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 7.00% |
| Riverton, WY (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $795 | 6.62% |
| Evanston, WY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,499 | 6.16% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 109 | $12,295,000 | $112,798 | $2,368 | 5.60% |
| FHA | 1 | $35,000 | $35,000 | $609 | 6.16% |
For 2022, Wyhy's most frequently originated type of loan was Conventional, with 109 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2022, Wyhy's most frequently cited loan purpose was Cash Out Refi, with 46 originations. The 2nd most popular reason was Other, with 31 originations.
Loan Duration/Length
For 2022, Wyhy's most frequently cited loan duration was 20 Year, with 50 originations. The 2nd most popular length was 10 Year, with 31 originations.
Origination Fees/Closing Costs
Wyhy's average total fees were $12,872, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 60 originations.
Interest Rates
During 2022, Wyhy's average interest rate for loans was 5.96%, while their most frequently originated rate bucket for loans was 5-6%, with 30 originations.
Loan Sizing
2022 saw Wyhy place emphasis on $100,000 or less loans with 63 originations, totaling $3,345,000 in origination value.
Applicant Income
Wyhy lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $50k-75k, with 23 originations.
Applicant Debt to Income Ratio
Wyhy lent most frequently to those with DTI ratios of 20-30%, with 29 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 | 108 | $12,210,000 | $113,056 | $2,392 | 5.60% |
| Black | 2 | $120,000 | $60,000 | $250 | 6.09% |
Approval Rates
Total approvals of all applications92.74%
Wyhy has an average approval rate.
Pick Rate
Approvals leading to origination64.55%
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 |
|---|---|---|---|
| 4337.16 | 1 | $125,000 | $125,000 |
| 9293.66 | 1 | $195,000 | $195,000 |
| NA | 108 | $12,010,000 | $111,204 |