FHA Loan Calculator for Wyoming

FHA Loans in Wyoming

FHA loans require a minimum 3.5% down payment (10% if credit score is 580-619). On Wyoming's median home of $290,000, that's a minimum down payment of $10,200.

FHA Loan Limits in Wyoming

FHA loan limits vary by county and are tied to conforming limits. In most Wyoming counties, the FHA floor limit is $498,257 (2024). High-cost areas like certain counties may qualify for higher limits up to $1,149,825. All Wyoming counties are at the standard conforming limit except Teton County, which qualifies for high-cost limits.

FHA vs Conventional in Wyoming

FHA MIP (Mortgage Insurance Premium) is required regardless of down payment. Conventional loans eliminate PMI at 20% equity. With Wyoming's median home at $290,000, buyers who can put down $58,000 (20%) are better served by conventional financing. FHA makes sense for buyers with limited savings or credit scores below 740.

Closing Costs

Wyoming closing costs average $2,400. Wyoming has no state income tax, no transfer tax, and minimal recording fees. Overall closing costs are among the lowest in the Mountain West. Sellers can contribute up to 6% of the purchase price toward FHA buyer closing costs.

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