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Wyoming mortgage lenders
Lenders offering government-backed and veteran programs may get you better loan terms.
Wyoming has some of the lowest closing costs in the US, and you won’t pay a transfer tax. But that doesn’t mean much if you can’t find a decent lender. Learn where and how to begin your search.
Mortgage lenders in Wyoming
Before selecting a mortgage lender, compare the interest rates they offer, the down payment options or if they offer government-backed home loans such as FHA or USDA. The latter can be especially helpful if you’re buying a home for the first time or if you’re buying a home in rural or suburban areas.
How to find the lenders and rates in Wyoming
Lenders that offer government or VA-backed loans may be worth considering. Since the loans are backed by the government, the lender considers your loan safe. This could potentially land you a better mortgage rate.
Other features you should keep an eye on are interest rates, down payment options, closing costs, customer service and how to apply.
What to consider when looking for a mortgage in Wyoming
First-time homebuyers could use loan assistance from the Wyoming Community Development Authority (WCDA). One of their loan products is a 30-year fixed mortgage with low interest rates. You can also take out a loan to use for your down payment up to $10,000.
Another option to consider is a credit union. Their mortgage loans typically come with lower interest rates and they charge lower fees than traditional banks. However, you may not have as much flexibility, as their mortgages often come as 30-year loans.
Closing costs in Wyoming
Average closing costs after taxes are approximately $3,746 for a home costing between $200,000 to $300,000. This is one of the rare states that doesn’t charge transfer tax or expensive property tax.
The Wyoming Community Development Authority (WCDA) can help you secure a home loan with low interest rates if you’re a first-time homebuyer. Other low-interest-rate options include government or VA-backed home loans. But if you don’t qualify, there are other mortgage lenders that could offer you decent terms.
If these lenders aren’t what you’re looking for, check out other mortgage lenders and compare your options.
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