Wyoming Mortgages

Wyoming offers a number of great mortgage options for new buyers or homeowners looking to refinance their current mortgage. Wyoming Fixed Rate Mortgages are becoming more and more popular with the market trends for 2005 indicating rising interest rates. Wyoming Fixed Rate Mortgages offer a fixed, unchanging interest rate and monthly payment for the life of the loan. Wyoming Fixed Rate Mortgages are offered in 10, 15, 20, 25, and 30 year terms. Wyoming Fixed Rate Mortgages typically carry slightly higher premiums (in the form of interest rates) than do Wyoming Adjustable Rate Mortgages (ARMs). Many residents, however, feel the higher premium is worth the security of the fixed interest rate and monthly payment.

Another option for a Wyoming mortgage is a Wyoming Adjustable Rate Mortgage (ARM). Wyoming Adjustable Rate Mortgages (ARMs) are fixed for an introductory period, and then adjust periodically thereafter. Wyoming ARM interest rates are based upon an economic index and a margin. Typical economic indices used to figure interest rates are: MTA, COFI, and the LIBOR index. It is important to discuss the index and margin tied to your loan with your loan representative so you fully understand the capacity of the loan to change over time. Typical Wyoming ARM (adjustable rate mortgage) terms are 2/1, 3/1, 5/1, or 7/1 (although others are available). The first number in the set indicates the term of the introductory period, while the second indicates how often the loan will adjust thereafter. (For example the 3/1 ARM, the 3 indicates the loan has a fixed introductory interest rate for the first 3 years of the loan and the 1 indicates it will adjust once per year thereafter). Call today 1-877-673-3282 to speak to a representative about your options for a Wyoming mortgage.