Wyoming FHA Loan Rates, Closing Costs & Stats

Wyoming

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.

Wyoming FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Wyoming averaged 6.74% for the week of 2024-03-22, compared to the national average (all FHA variants) of 6.696% for the same period.

Wyoming's average FHA mortgage closing costs are $7,559.

The average rate for the prior week (2024-03-15) was 6.46% and one month ago for the week of 2024-02-16, the average rate was 6.48%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.71%.

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

Wyoming 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 Wyoming level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Wallick & Volk, Inc. 173 6.28% $9,208
QUICKEN LOANS, LLC 156 6.25% $11,883
UNITED WHOLESALE MORTGAGE, LLC 137 6.30% $10,531
GUILD MORTGAGE COMPANY 112 6.29% $10,147
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 86 6.38% $11,151
BAY EQUITY LLC 80 6.40% $10,277
CROSSCOUNTRY MORTGAGE, LLC 53 6.19% $11,212
AMERICAN PACIFIC MORTGAGE CORPORATION 41 6.24% $10,460
PRIMARY RESIDENTIAL MORTGAGE, INC. 38 6.33% $12,450
Glacier Bank 35 6.46% $9,073
Jonah Bank of Wyoming 32 5.95% $12,047
Pinnacle Bank - Wyoming 29 6.16% $9,329
Paramount Residential Mortgage Group, Inc. 24 7.07% $11,370
First Interstate Bank 24 5.91% $11,079
CORNERSTONE HOME LENDING, INC. 24 5.94% $12,558
BROKER SOLUTIONS, INC. 23 6.53% $12,109
Unify Home Lending Inc. 22 6.27% $9,340
NEWREZ LLC 21 6.16% $11,452
AXIA FINANCIAL, LLC 20 6.34% $10,026
CMG MORTGAGE, INC. 17 7.19% $11,800
LOANDEPOT.COM, LLC 15 6.38% $14,062
MOVEMENT MORTGAGE, LLC 15 6.59% $12,148
CHERRY CREEK MORTGAGE, LLC 15 6.13% $3,414
Gateway First Bank 13 6.56% $8,370
CENTENNIAL LENDING, LLC 13 6.14% $9,119
PENNYMAC LOAN SERVICES, LLC 13 6.00% $14,014
FREEDOM MORTGAGE CORPORATION 13 6.84% $13,735
LAKEVIEW LOAN SERVICING, LLC 11 5.84% $14,612
Plains Commerce Bank 11 6.82% $11,476
ACADEMY MORTGAGE CORPORATION 10 6.93% $12,806
ON Q FINANCIAL, INC. 10 6.21% $14,026
AMERISAVE MORTGAGE CORPORATION 9 6.26% $15,525
Flanagan State Bank 9 6.67% $10,978
Carrington Mortgage Services, LLC 8 5.88% $12,575
CARDINAL FINANCIAL 8 6.47% $13,981
Mr. Cooper ( Nationstar Mortgage ) 8 5.86% $16,595
GUARANTEED RATE, INC. 7 6.68% $12,781
MUTUAL OF OMAHA MORTGAGE, INC. 7 6.54% $15,365
ZILLOW HOME LOANS, LLC 6 5.98% $13,306
CRESCENT MORTGAGE COMPANY 6 6.63% $9,102
AMERICAN FINANCING CORPORATION 6 6.23% $13,656
HOMEBRIDGE FINANCIAL SERVICES, INC. 6 6.31% $12,838
AMERICAN FINANCIAL NETWORK, INC. 5 7.35% $14,506
Ixonia Bank 5 6.63% $10,416
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 7.45% $9,473
Equity Prime Mortgage LLC 4 7.00% $11,500
Mortgage Research Center, LLC 4 7.06% $10,613
RELIANCE FIRST CAPITAL, LLC 4 6.56% $12,565
Flagstar Bank, FSB 3 6.29% $6,481
INTERCAP LENDING INC. 3 6.63% $11,337
Wells Fargo Bank 3 6.25% $7,408
U.S. Bank 3 6.63% $9,347
SUN WEST MORTGAGE COMPANY, INC. 3 6.93% $12,886
AMERICAN FINANCIAL RESOURCES, INC. 3 6.75% $6,972
NBH Bank 3 6.46% $9,578
VERITAS FUNDING, LLC 2 6.13% $15,118
PLANET HOME LENDING, LLC 2 6.81% $18,357
PARTNERS UNITED FINANCIAL, LLC 2 6.56% $19,042
Servion, Inc. 2 6.13% $11,545
First National Bank of Omaha 2 6.25% $9,952
NATIONWIDE MORTGAGE BANKERS, INC. 2 6.75% $8,525
OPEN MORTGAGE, LLC 2 6.75% $11,203
AmRes Corporation 2 5.81% $14,719
WESTERN VISTA 2 5.88% $10,158
UNIVERSAL LENDING CORPORATION 2 6.88% $11,080
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.31% $11,896
VAN DYK MORTGAGE CORPORATION 2 5.56% $8,200
UMB Bank 1 6.25% $11,391
ADVANTAGE PLUS 1 6.50% $11,196
AmeriHome Mortgage Company, LLC 1 6.13% $9,280
Barrington Bank & Trust Company, N.A. 1 7.25% $10,216
BETTER MORTGAGE CORPORATION 1 6.63% $5,999
BMO Harris Bank 1 5.13% $7,779
Century Mortgage Company DBA Century Lending Company 1 6.75% $9,572
Chickasaw Community Bank 1 6.75% $13,023
CHURCHILL MORTGAGE CORPORATION 1 7.50% $25,634
Colonial Savings, F.A. 1 5.88% $6,670
DIRECT MORTGAGE, CORP. 1 6.88% $8,391
EVERETT FINANCIAL, INC. 1 6.63% $15,911
First Federal Bank 1 6.63% $8,030
GOLDENWEST 1 6.13% $10,361
HOMESTAR FINANCIAL CORPORATION 1 6.75% $11,029
LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $11,943
MEGASTAR FINANCIAL CORP. 1 6.13% $12,237
MID AMERICA MORTGAGE, INC. 1 6.00% $14,516
MOUNTAIN AMERICA 1 6.13% $9,651
M&T Bank 1 6.25% $8,047
Nations Lending Corporation 1 6.50% $15,022
NBKC BANK 1 6.63% $7,300
Northpointe Bank 1 7.13% $11,991
Peak Financial 1 6.75% $3,482
PLAZA HOME MORTGAGE, INC. 1 7.25% $7,153
PNC Bank 1 6.25% $10,511
PREMIA MORTGAGE, LLC 1 6.13% $4,969
SUMMIT FUNDING, INC. 1 6.13% $1,932
T2 FINANCIAL LLC 1 7.38% $12,804
The Loan Store, Inc. 1 7.13% $14,499
TJC Mortgage, Inc. 1 5.25% $18,164
TOWNE MORTGAGE COMPANY 1 7.75% $10,278
UNION HOME MORTGAGE CORP. 1 6.50% $6,171
V.I.P. MORTGAGE, INC. 1 5.25% $9,498

The top Wyoming FHA lender as defined by loan originations is Wallick & Volk, Inc., with 173 FHA loans originated. Their average total fees are $9,208, which is $2,675 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Wyoming FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($3,414), Gateway First Bank ($8,370), Glacier Bank ($9,073), CENTENNIAL LENDING, LLC ($9,119) and Wallick & Volk, Inc. ($9,208).

The lowest rate Wyoming FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (5.84%), First Interstate Bank (5.91%), CORNERSTONE HOME LENDING, INC. (5.94%), Jonah Bank of Wyoming (5.95%) and PENNYMAC LOAN SERVICES, LLC (6.00%).

Wyoming FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LARAMIE, WY ALBANY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BIG HORN 2022 $420,680 $538,650 $651,050 $809,150
GILLETTE, WY CAMPBELL 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CARBON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CONVERSE 2022 $420,680 $538,650 $651,050 $809,150
GILLETTE, WY CROOK 2022 $420,680 $538,650 $651,050 $809,150
RIVERTON, WY FREMONT 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GOSHEN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO HOT SPRINGS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JOHNSON 2022 $420,680 $538,650 $651,050 $809,150
CHEYENNE, WY LARAMIE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
CASPER, WY NATRONA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO NIOBRARA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PARK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PLATTE 2022 $420,680 $538,650 $651,050 $809,150
SHERIDAN, WY SHERIDAN 2021 $489,900 $627,150 $758,100 $942,100
NON-METRO SUBLETTE 2022 $420,680 $538,650 $651,050 $809,150
ROCK SPRINGS, WY SWEETWATER 2022 $420,680 $538,650 $651,050 $809,150
JACKSON, WY-ID TETON 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
EVANSTON, WY UINTA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WASHAKIE 2022 $420,680 $538,650 $651,050 $809,150
GILLETTE, WY WESTON 2022 $420,680 $538,650 $651,050 $809,150
LARAMIE, WY ALBANY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BIG HORN 2023 $472,030 $604,400 $730,525 $907,900
GILLETTE, WY CAMPBELL 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CARBON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CONVERSE 2023 $472,030 $604,400 $730,525 $907,900
GILLETTE, WY CROOK 2023 $472,030 $604,400 $730,525 $907,900
RIVERTON, WY FREMONT 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GOSHEN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO HOT SPRINGS 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JOHNSON 2023 $472,030 $604,400 $730,525 $907,900
CHEYENNE, WY LARAMIE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
CASPER, WY NATRONA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO NIOBRARA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PARK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PLATTE 2023 $472,030 $604,400 $730,525 $907,900
SHERIDAN, WY SHERIDAN 2023 $489,900 $627,150 $758,100 $942,100
NON-METRO SUBLETTE 2023 $472,030 $604,400 $730,525 $907,900
ROCK SPRINGS, WY SWEETWATER 2023 $472,030 $604,400 $730,525 $907,900
JACKSON, WY-ID TETON 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
EVANSTON, WY UINTA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WASHAKIE 2023 $472,030 $604,400 $730,525 $907,900
GILLETTE, WY WESTON 2023 $472,030 $604,400 $730,525 $907,900

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).