CALCMONEY // MORTGAGE REFINANCE // WY
Wyoming average rate: 7.00%. On the median loan of $260,000, a 1% rate drop saves $171/month and breaks even in 39 months.
Calculate Your Refinance7.00%
$325,000
$1,730
$6,500
| New Rate | New Monthly | Monthly Savings | Break-Even | 30yr Savings |
|---|---|---|---|---|
| 6.50% (save 0.5%) | $1,643 | $86/mo | 6yr 4mo | $24,607 |
| 6.00% (save 1.0%) | $1,559 | $171/mo | 3yr 3mo | $55,044 |
| 5.50% (save 1.5%) | $1,476 | $254/mo | 2yr 2mo | $84,773 |
The median home price in Wyoming is $325,000. At 80% LTV, the typical loan is $260,000 at the current 7.00% average rate, producing a monthly P+I payment of $1,730. Total interest over 30 years at this rate: $362,723.
Property taxes in Wyoming average 0.61% of assessed value, or $1,983 per year on the median home. This adds $165/month to your all-in housing cost. When evaluating a refinance, factor in property tax and insurance for a complete picture.
Wyoming has no state income tax, so there is no state-level mortgage interest deduction. The federal deduction still applies on loans up to $750,000 for itemizers.
Tennessee
$330,000 median home
MNMinnesota
$340,000 median home
NCNorth Carolina
$340,000 median home
SCSouth Carolina
$310,000 median home