Jumbo Loans in Wyoming

Jumbo mortgage loans in Wyoming offer convenient financing for larger parcels and home purchases.

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4 Best Jumbo Loans in Wyoming

Key Terms

  • Jumbo loans offer residents of Wyoming much more buying power than conventional mortgages.
  • You often can put down a smaller down payment with a Wyoming jumbo loan.
  • Borrowers can finance a large property with a single loan.

Wyoming features some of the most majestic landscapes in the country, small, friendly communities, and even a bit of glamour in places like Jackson Hole. Wyomingites are proud of their state, even as it transitions in places from “small town” to “resort getaway.” From Teton to Laramie, Platte, Sheridan, Natrona, and everywhere in between, there are some gorgeous homes and real estate properties in Wyoming.

Whether you are trying to keep pace in Jackson, living in a smaller community, or looking to buy a lot of acreage, home prices in Wyoming are going up.  According to the Wyoming Association of Realtors, the average sales price of a home in Wyoming right now is $370,000. In places such as Jackson or with larger properties, prices can be much, much higher, leaving homebuyers with limited financing options. 

For the most recent year, the HDMA data places Wyoming 48th in the country in terms of mortgage origination activity, with a total of $1.3 billion in jumbo mortgages originated. If you are looking to finance a home over conforming limits in Wyoming, a jumbo loan may be the right choice for you. From Cheyenne to Sweetwater, Hot Springs, and Big Horn, you could find a dream home and get your purchase started with a jumbo loan.

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What is the jumbo loan limit in Wyoming?

The jumbo loan limit in Wyoming for most counties is $726,200. For the county Teton, the Wyoming conforming loan limit is $1,089,300. Any loan that exceeds either $726,200 or $1,089,300 is a jumbo loan, depending on the county.

Wyoming Jumbo Loan Limits (May 2024)

Wyoming county-by-county jumbo loan, conforming loan and FHA loan limits.

Jumbo loan
loan limit
FHA loan limit
Albany$726,200+$726,200 $420,680
Big Horn$726,200+$726,200 $420,680
Campbell$726,200+$726,200 $420,680
Carbon$726,200+$726,200 $420,680
Converse$726,200+$726,200 $420,680
Crook$726,200+$726,200 $420,680
Fremont$726,200+$726,200 $420,680
Goshen$726,200+$726,200 $420,680
Hot Springs$726,200+$726,200 $420,680
Johnson$726,200+$726,200 $420,680
Laramie$726,200+$726,200 $420,680
Lincoln$726,200+$726,200 $420,680
Natrona$726,200+$726,200 $420,680
Niobrara$726,200+$726,200 $420,680
Park$726,200+$726,200 $420,680
Platte$726,200+$726,200 $420,680
Sheridan$726,200+$726,200 $420,680
Sublette$726,200+$726,200 $420,680
Sweetwater$726,200+$726,200 $420,680
Teton$1,089,300+$1,089,300 $970,800
Uinta$726,200+$726,200 $420,680
Washakie$726,200+$726,200 $420,680
Weston$726,200+$726,200 $420,680

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4 Top Wyoming jumbo loan lenders

If you’re in the market for a home in Wyoming, consider these jumbo mortgage loans that are available to state residents.

1. Huntington Bank

Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive physician loan product with no money down financing options.

We contacted a loan officer at Huntington Bank to gather information about the doctor mortgage and here’s what we heard back:

  • Loan amounts up to $2.5 million
  • Purchase and refinance available
  • Refinancing allows you to take up to $750,000 of equity out of your home.
  • Second homes are eligible
  • Multi-unit properties are eligible

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

2. SoFi

SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.

We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount.
  • 15-year or 30-year fixed rate products available

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

3. Keybank

Keybank has over $170 billion in assets and is the 24th largest bank in the Untied States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among medical doctors throughout the country. One of their key financial products is a jumbo mortgage loan.

We contacted Keybank to learn more about their jumbo loan mortgage and here are the key terms and highlights:

SilverKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.

GoldKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
  • Available for second homes and investment properties.

Jumbo Interest-Only Mortgages

  • Loan amounts up to $3.5 million
  • 30% down on mortgages up to $1.5 million for primary residences
  • 35% down on mortgages up to $2 million for second homes
  • No private mortgage insurance required
  • ARM-only options

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

4. Flagstar Bank

Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.

We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

Why homebuyers get jumbo loans in Wyoming

Traditional mortgages have limits. When homebuyers in Wyoming want to place an offer on a home that is over the state’s conforming limits, traditional mortgages can get complicated. The borrower will either have to put down a big down payment or take out several traditional loans to cover the cost. Using an NMLS id, you can talk to a mortgage lender about alternative loans if you already looked into those connected through the Federal Housing Finance Agency and learned they won’t work for you.

Not all home loans come with the same requirements, but there are strict limits and rules around FHA or VA loans. This is why if you already found an incredible dream home on the NMLS that you shouldn’t give up hope if the purchase price is too high for conforming loan limits. Other loan programs offer different terms than conventional loans, and if a chosen mortgage lender offers a jumbo loan, this could be one path to homeownership.

Although the mortgage rates might be different, a jumbo loan could be your only option for buying real estate at a higher loan limit. Not all borrowers can get fha loans through Fannie Mae or Freddie Mac, but some homeowners are able to get financing through a jumbo loan that meets their needs. Doing research first helps, since you can use a mortgage calculator to get a good idea of monthly payments, interest rates, and more.

Loan rates can vary from one lender to another, so it’s good to consider a few bank options when taking out a jumbo mortgage loan. With a few different types of mortgage available, underwriting can also look different depending on if you go with a VA loan, an adjustable rate loan, or a jumbo loan.

That is the main reason more and more people in Wyoming are turning to jumbo loans. These loans have higher limits that give you more purchasing power in the housing market and provide an easier way to finance a home with a higher price tag. Instead of wiping out savings or investments, or patching together several loans, residents of Wyoming can finance their entire purchase, in many cases, with just one jumbo loan. An added bonus?

These loans often do not require large down payments. With bigger price tags, down payments can become overwhelming. Remember that while a down payment is a lump sum you pay when you buy, mortgage payments add up over time, too. Keeping up with those monthly payments on a jumbo loan can be a challenge if you’re not prepared to stay current with them. Do your research on a mortgage calculator first.

Does a Wyoming jumbo loan make sense for you?

There are several things you should consider when applying for a jumbo loan. One is your credit score. To qualify for a jumbo mortgage, you will need a very solid score. That is because the lenders are exposing themselves to more risk and need to ensure that you are a reliable borrower.

Another factor to keep in mind are the interest rates that can come with jumbo loans in Wyoming. You will likely end up paying more for this type of financing than you might with a traditional mortgage. Given the benefits that come with a jumbo loan, many citizens of Wyoming consider it a fair exchange. 

Need a jumbo loan in a different state?

If you want to find the best jumbo loans in other states, click on your state below.

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Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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