Casper FHA Loan Rates, Closing Costs & Stats

CASPER, WY

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Casper's 42 lenders originated 416 FHA loans during 2023. The total origination value was $104,840,000, with an average FHA loan value of $252,019.

    Casper FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Casper averaged 6.44% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Casper's average FHA mortgage closing costs are $6,799.

    The average rate for the prior week (2024-04-12) was 6.73% and one month ago for the week of 2024-03-15, the average rate was 6.6%.

    The average rate one year ago was 6.13%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Casper FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Casper level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Wallick & Volk, Inc. 96 6.22% $9,393
    GUILD MORTGAGE COMPANY 60 6.30% $10,040
    CROSSCOUNTRY MORTGAGE, LLC 22 6.21% $11,172
    QUICKEN LOANS, LLC 21 6.28% $11,452
    PRIMARY RESIDENTIAL MORTGAGE, INC. 20 6.19% $11,203
    NEWREZ LLC 15 6.31% $10,412
    CHERRY CREEK MORTGAGE, LLC 13 6.17% $3,457
    MOVEMENT MORTGAGE, LLC 10 6.46% $12,320
    ON Q FINANCIAL, INC. 9 6.11% $14,936
    Gateway First Bank 6 6.71% $7,775
    First Interstate Bank 6 6.04% $13,038
    UNITED WHOLESALE MORTGAGE, LLC 5 6.85% $9,764
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 7.38% $9,934
    Jonah Bank of Wyoming 4 5.88% $10,828
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.72% $10,179
    AMERISAVE MORTGAGE CORPORATION 3 7.00% $13,470
    PENNYMAC LOAN SERVICES, LLC 3 5.75% $13,118
    Glacier Bank 3 7.17% $9,953
    LOANDEPOT.COM, LLC 3 6.16% $14,364
    AMERICAN FINANCING CORPORATION 2 5.94% $13,340
    LAKEVIEW LOAN SERVICING, LLC 2 5.75% $15,615
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.00% $20,066
    AmRes Corporation 2 5.81% $14,719
    PARTNERS UNITED FINANCIAL, LLC 2 6.56% $19,042
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.63% $11,179
    TJC Mortgage, Inc. 1 5.25% $18,164
    AmeriHome Mortgage Company, LLC 1 6.13% $9,280
    BROKER SOLUTIONS, INC. 1 6.25% $12,999
    Carrington Mortgage Services, LLC 1 5.75% $7,389
    CMG MORTGAGE, INC. 1 7.63% $13,058
    Equity Prime Mortgage LLC 1 6.25% $11,133
    EVERETT FINANCIAL, INC. 1 6.63% $15,911
    First National Bank of Omaha 1 5.63% $12,436
    Mortgage Research Center, LLC 1 6.13% $7,903
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $12,854
    OPEN MORTGAGE, LLC 1 7.00% $10,977
    Pinnacle Bank - Wyoming 1 5.88% $11,025
    T2 FINANCIAL LLC 1 7.38% $12,804
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $6,161
    Unify Home Lending Inc. 1 5.75% $11,516
    UNIVERSAL LENDING CORPORATION 1 7.25% $13,163
    VERITAS FUNDING, LLC 1 6.63% $14,466

    The top Casper FHA lender as defined by loan originations is Wallick & Volk, Inc., with 96 FHA loans originated. Their average total fees are $9,393, which is $647 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Casper FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($3,457), Wallick & Volk, Inc. ($9,393), GUILD MORTGAGE COMPANY ($10,040), NEWREZ LLC ($10,412) and CROSSCOUNTRY MORTGAGE, LLC ($11,172).

    The lowest rate Casper FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC (6.17%), PRIMARY RESIDENTIAL MORTGAGE, INC. (6.19%), CROSSCOUNTRY MORTGAGE, LLC (6.21%), Wallick & Volk, Inc. (6.22%) and QUICKEN LOANS, LLC (6.28%).

    Casper FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CASPER, WY NATRONA 2022 $420,680 $538,650 $651,050 $809,150
    CASPER, WY NATRONA 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Casper (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $225,000 (0.0%) $265,867 (3.0%) 0.00 398
    2018-02-01 $233,725 (9.2%) $270,838 (5.8%) 0.00 375
    2018-03-01 $250,000 (13.0%) $276,563 (6.6%) 0.00 405
    2018-04-01 $259,500 (15.4%) $285,953 (7.4%) 0.00 414
    2018-05-01 $265,900 (16.1%) $295,439 (8.7%) 0.00 440
    2018-06-01 $267,400 (16.3%) $301,150 (12.5%) 0.00 462
    2018-07-01 $266,925 (16.1%) $303,896 (12.6%) 0.00 474
    2018-08-01 $265,675 (15.8%) $303,381 (12.7%) 0.00 473
    2018-09-01 $267,900 (16.5%) $299,556 (12.0%) 0.00 464
    2018-10-01 $267,050 (12.7%) $297,798 (9.1%) 0.00 442
    2018-11-01 $256,450 (11.2%) $297,861 (11.0%) 0.00 416
    2018-12-01 $250,000 (6.4%) $295,741 (11.2%) 0.00 383
    2019-01-01 $245,600 (9.2%) $287,411 (8.1%) 0.00 334
    2019-02-01 $239,600 (2.5%) $276,223 (2.0%) 0.00 324
    2019-03-01 $244,243 (-2.3%) $277,431 (0.3%) 0.00 317
    2019-04-01 $248,193 (-4.4%) $281,597 (-1.5%) 0.00 303
    2019-05-01 $245,000 (-7.9%) $285,346 (-3.4%) 0.00 274
    2019-06-01 $249,900 (-6.5%) $295,145 (-2.0%) 0.00 283
    2019-07-01 $240,950 (-9.7%) $291,964 (-3.9%) 0.00 304
    2019-08-01 $233,818 (-12.0%) $285,502 (-5.9%) 0.00 308
    2019-09-01 $226,045 (-15.6%) $280,359 (-6.4%) 0.00 311
    2019-10-01 $220,000 (-17.6%) $275,779 (-7.4%) 0.00 309
    2019-11-01 $216,950 (-15.4%) $273,958 (-8.0%) 0.00 254
    2019-12-01 $221,175 (-11.5%) $279,529 (-5.5%) 0.00 222
    2020-01-01 $228,750 (-6.9%) $285,029 (-0.8%) 0.00 201
    2020-02-01 $239,750 (0.1%) $289,182 (4.7%) 0.00 191
    2020-03-01 $247,450 (1.3%) $297,549 (7.3%) 0.00 190
    2020-04-01 $264,700 (6.7%) $312,032 (10.8%) 0.00 221
    2020-05-01 $265,000 (8.2%) $301,688 (5.7%) 0.00 228
    2020-06-01 $273,975 (9.6%) $322,286 (9.2%) 0.00 215
    2020-07-01 $282,795 (17.4%) $322,801 (10.6%) 0.00 235
    2020-08-01 $287,000 (22.7%) $333,468 (16.8%) 0.00 249
    2020-09-01 $287,325 (27.1%) $344,181 (22.8%) 0.00 256
    2020-10-01 $279,000 (26.8%) $333,595 (21.0%) 0.00 261
    2020-11-01 $266,750 (23.0%) $327,891 (19.7%) 0.00 264
    2020-12-01 $269,225 (21.7%) $328,304 (17.5%) 0.00 222
    2021-01-01 $265,000 (15.9%) $331,038 (16.1%) 0.00 195
    2021-02-01 $271,250 (13.1%) $348,767 (20.6%) 0.00 157
    2021-03-01 $286,000 (15.6%) $357,746 (20.2%) 0.00 131
    2021-04-01 $304,783 (15.1%) $399,725 (28.1%) 0.00 111
    2021-05-01 $315,000 (18.9%) $395,210 (31.0%) 0.00 114
    2021-06-01 $300,000 (9.5%) $393,946 (22.2%) 0.00 143
    2021-07-01 $282,450 (-0.1%) $361,191 (11.9%) 0.00 178
    2021-08-01 $292,500 (1.9%) $364,120 (9.2%) 0.00 192
    2021-09-01 $272,000 (-5.3%) $425,383 (23.6%) 0.00 184
    2021-10-01 $262,450 (-5.9%) $366,448 (9.9%) 0.00 168
    2021-11-01 $255,950 (-4.1%) $339,607 (3.6%) 0.00 136
    2021-12-01 $255,950 (-4.9%) $349,525 (6.5%) 0.00 128
    2022-01-01 $267,500 (0.9%) $368,259 (11.2%) 0.00 100
    2022-02-01 $299,750 (10.5%) $443,016 (27.0%) 0.00 76
    2022-03-01 $351,250 (22.8%) $461,353 (29.0%) 0.00 79
    2022-04-01 $370,000 (21.4%) $454,433 (13.7%) 0.00 82
    2022-05-01 $344,925 (9.5%) $448,359 (13.5%) 0.00 95
    2022-06-01 $346,175 (15.4%) $420,791 (6.8%) 0.00 137
    2022-07-01 $349,500 (23.7%) $427,464 (18.4%) 0.00 171
    2022-08-01 $349,500 (19.5%) $428,109 (17.6%) 0.00 196
    2022-09-01 $349,500 (28.5%) $426,621 (0.3%) 0.00 199
    2022-10-01 $364,950 (39.1%) $434,324 (18.5%) 0.00 177
    2022-11-01 $366,175 (43.1%) $434,534 (28.0%) 0.00 174
    2022-12-01 $382,400 (49.4%) $450,919 (29.0%) 0.00 163
    2023-01-01 $359,900 (34.5%) $439,604 (19.4%) 0.00 146
    2023-02-01 $351,500 (17.3%) $423,154 (-4.5%) 0.00 148
    2023-03-01 $385,000 (9.6%) $453,520 (-1.7%) 0.00 128
    2023-04-01 $404,100 (9.2%) $504,303 (11.0%) 0.00 130
    2023-05-01 $415,875 (20.6%) $529,990 (18.2%) 0.00 134
    2023-06-01 $399,450 (15.4%) $491,971 (16.9%) 0.00 153
    2023-07-01 $386,150 (10.5%) $471,109 (10.2%) 0.00 162
    2023-08-01 $374,500 (7.2%) $462,090 (7.9%) 0.00 190
    2023-09-01 $368,500 (5.4%) $463,973 (8.8%) 0.00 205
    2023-10-01 $363,450 (-0.4%) $476,326 (9.7%) 0.00 194
    2023-11-01 $375,000 (2.4%) $475,802 (9.5%) 0.00 193
    2023-12-01 $385,000 (0.7%) $480,382 (6.5%) 0.00 186
    2024-01-01 $378,500 (5.2%) $518,548 (18.0%) 0.00 185
    2024-02-01 $381,225 (8.5%) $519,122 (22.7%) 0.00 154
    2024-03-01 $375,000 (-2.6%) $518,909 (14.4%) 0.00 141
    Casper's median listing price for 2024-03-01 was $375,000, a difference of $-10,000 (-2.6%) versus the prior year and $-6,225 versus the prior month.

    Casper's median listing price comes in at 0% of the national average.

    Casper's average listing price for 2024-03-01 was $518,909, a difference of $65,389 (14.4%) versus the prior year and $-213 versus the prior month.

    For the 2024-03-01 period, Casper had 141 MLS listings, a difference of -13 listings (-8%) versus the prior month and 13 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Casper (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,208 sqft
    2018-02-01 0 days 2,245 sqft
    2018-03-01 0 days 2,256 sqft
    2018-04-01 0 days 2,303 sqft
    2018-05-01 0 days 2,373 sqft
    2018-06-01 0 days 2,368 sqft
    2018-07-01 0 days 2,353 sqft
    2018-08-01 0 days 2,350 sqft
    2018-09-01 0 days 2,331 sqft
    2018-10-01 0 days 2,328 sqft
    2018-11-01 0 days 2,293 sqft
    2018-12-01 0 days 2,235 sqft
    2019-01-01 0 days 2,180 sqft
    2019-02-01 0 days 2,156 sqft
    2019-03-01 0 days 2,171 sqft
    2019-04-01 0 days 2,162 sqft
    2019-05-01 0 days 2,140 sqft
    2019-06-01 0 days 2,190 sqft
    2019-07-01 0 days 2,125 sqft
    2019-08-01 0 days 2,112 sqft
    2019-09-01 0 days 2,105 sqft
    2019-10-01 0 days 2,101 sqft
    2019-11-01 0 days 2,018 sqft
    2019-12-01 0 days 2,020 sqft
    2020-01-01 0 days 2,031 sqft
    2020-02-01 0 days 2,196 sqft
    2020-03-01 0 days 2,203 sqft
    2020-04-01 0 days 2,285 sqft
    2020-05-01 0 days 2,261 sqft
    2020-06-01 0 days 2,338 sqft
    2020-07-01 0 days 2,363 sqft
    2020-08-01 0 days 2,345 sqft
    2020-09-01 0 days 2,331 sqft
    2020-10-01 0 days 2,315 sqft
    2020-11-01 0 days 2,306 sqft
    2020-12-01 0 days 2,307 sqft
    2021-01-01 0 days 2,300 sqft
    2021-02-01 0 days 2,239 sqft
    2021-03-01 0 days 2,263 sqft
    2021-04-01 0 days 2,348 sqft
    2021-05-01 0 days 2,367 sqft
    2021-06-01 0 days 2,259 sqft
    2021-07-01 0 days 2,206 sqft
    2021-08-01 0 days 2,222 sqft
    2021-09-01 0 days 2,270 sqft
    2021-10-01 0 days 2,119 sqft
    2021-11-01 0 days 2,120 sqft
    2021-12-01 0 days 2,132 sqft
    2022-01-01 0 days 2,221 sqft
    2022-02-01 0 days 2,237 sqft
    2022-03-01 0 days 2,433 sqft
    2022-04-01 0 days 2,491 sqft
    2022-05-01 0 days 2,297 sqft
    2022-06-01 0 days 2,401 sqft
    2022-07-01 0 days 2,408 sqft
    2022-08-01 0 days 2,378 sqft
    2022-09-01 0 days 2,366 sqft
    2022-10-01 0 days 2,408 sqft
    2022-11-01 0 days 2,370 sqft
    2022-12-01 0 days 2,388 sqft
    2023-01-01 0 days 2,340 sqft
    2023-02-01 0 days 2,248 sqft
    2023-03-01 0 days 2,389 sqft
    2023-04-01 0 days 2,515 sqft
    2023-05-01 0 days 2,572 sqft
    2023-06-01 0 days 2,393 sqft
    2023-07-01 0 days 2,392 sqft
    2023-08-01 0 days 2,359 sqft
    2023-09-01 0 days 2,262 sqft
    2023-10-01 0 days 2,260 sqft
    2023-11-01 0 days 2,296 sqft
    2023-12-01 0 days 2,343 sqft
    2024-01-01 0 days 2,339 sqft
    2024-02-01 0 days 2,343 sqft
    2024-03-01 0 days 2,282 sqft
    Casper's median listing age (time on market) for 2024-03-01 was 0 days.

    Casper's median square footage for active listings during the 2024-03-01 period was 2,282 sqft. One year prior, the average listing was 2,389 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).