Wyoming Mortgage Refinance
Nicknamed the “Equality State,” Wyoming provides home owners with equal opportunity to lower their monthly mortgage payments through refinance. Home values throughout this majestic state run from $89,163 to $1,563,158. With a population of only 515,004, Wyoming is considered to be the perfect getaway and retreat for many, making Wyoming an up and coming place to live. Home owners interested in saving money and lowering their monthly mortgage payment have several mortgage product options and rates. For a 15 year fixed product, rates range from 4.30% APR to 4.79% APR. Interested in an adjustable rate mortgage (ARM)? Wyoming 5/1 ARMs have rates of 3.92% APR. Understanding how to compare mortgages Wyoming may be complex, however if borrowers get through the basics, mortgage comparison should be straight forward. In addition to creating a budget and establishing financial goals, borrowers in Wyoming should be able to discern between mortgage refinance products. ARMs offer a lower rate that adjusts after an initial period based on market conditions. Fixed rate products may have a higher rate, but once the borrower locks in, the rate remains the same throughout the life of the loan. In addition to understanding home values, sale prices is important too. For example, homes in Jelm (82063) have sold for prices anywhere from $28,500 to $2,500,000. In Cheyenne (82009), homes have sold for $179,481 and $236,733.