If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
If you're considering purchasing a home in Wyoming, it's smart to talk with several mortgage lenders about what loan terms and interest rates you may qualify for. Most lenders allow you to get pre-qualified online quickly to find out what borrowing will cost you. This makes it easy to find the best mortgage rates in Wyoming and ensure you don't pay more than necessary for your home.
For today, January 22nd, 2022, the current average mortgage rate in Wyoming for a 30-year fixed-rate mortgage is 3.808%, the average rate for a 15-year fixed-rate mortgage is 3.063%, and the average rate for a 5/1 adjustable-rate mortgage (ARM) is 3.625%. Rates are quoted as annual percentage rate (APR) .
|Product||Interest Rate||Average Points/Credits|
|Fixed 30 Year||3.808%||0.543|
|Fixed 30 Year - FHA||3.722%||1.393|
|Fixed 30 Year - VA||3.469%||0.613|
|Fixed 30 Year||3.884%||0.420|
|Fixed 15 Year||2.823%||0.599|
|Fixed 30 Year - FHA||3.578%||1.164|
Buying a Wyoming home can be expensive. Of course, some places have a lower cost of living than others, so here are five of the most affordable places to live in the state.
Evanston ranks fifth on Niche's list of places with the lowest cost of living in Wyoming, with only very small towns considered more affordable. Evanston is also the eighth most diverse place to live in Wyoming, and is 18 on the list of best places to buy a home in the state. A median home value of $168,000 makes homes affordable for the 68% of Evanston residents who own, as it's below the national median value of $184,700. Property taxes in Unita County (which includes Evanston) are also relatively affordable -- they average 0.49% of a property's assessed value, according to Tax-Rates.org.
Rock Springs has a population of just over 23,600, and ranks fourth on Niche's list of best places to buy a home in Wyoming. Interesting things to see include Bunning Park and the Rock Springs Historical Museum. The median home value here is higher than Evanston's at $217,400, but 72% of Rock Springs residents own their homes. Property taxes in Sweetwater County are a bit higher than in Evanston, though, at an average rate of 0.56% of assessed fair market value. Residents who enjoy Rock Springs' local attractions may not mind paying these higher taxes, though.
Green River is a smaller town than Rock Springs, with a population of only 12,278. However, it's also a great place to become a homeowner. It comes in sixth out of 31 on Niche's list of the best places to buy in Wyoming. Green River is also the fifth most diverse place in the state, and the 10th best place to raise a family. Median home prices here also top the national average at $212,400. However, 77% of Green River residents are owners. Like Rock Springs, Green River is in Sweetwater County, where property taxes come in at an average rate of 0.56%.
Gillete is the 16th best place in Wyoming to purchase a home, but is the 13th best place for young professionals and the 15th most diverse location in the state. Around 67% of the 33,056 residents of this mid-sized town live in homes they own. The median value of those homes is around $207,700. Gillette is located in Campbell County, where property taxes are lower than in the top four locales on this list. The average rate is just 0.47% of a property's assessed fair market value.
Casper is a much larger Wyoming town than the others listed here, with a population of 58,756. Sixty-three percent of residents own their homes, and the median value of Casper houses is above the national average at $200,700. Casper is known for its diversity and its good public schools, and it's also considered one of the best places for young professionals in Wyoming. Those young professionals, as well as other residents, may enjoy visiting the Hogadon Baisin Ski area as well as Nicolaysen Art Museum located in Casper. The county where it is located, Natrona, also charges taxes at a rate just below Rock Springs. It’s 0.55% of assessed fair market value on average.
Comparing cost of living is important, as is comparing mortgages. That way you can find the best mortgage rates in Wyoming. With a little research, you can ensure your home purchase is an affordable one you won't regret.
If you want to uncover more about the best mortgage lenders for low rates and fees, our experts have created a shortlist of the top mortgage companies. Some of our experts have even used these lenders themselves to cut their costs.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 - 2022 The Ascent. All rights reserved.