Capital Home Mortgage Wyoming

Wyoming Reverse Mortgages

Wyoming Reverse Mortgage Lender

Welcome to Capital Home Mortgage Wyoming.  Our goal is simple, to provide Wyoming Seniors access to every reverse mortgage product available while providing sound financial advice of the pros and cons to each Wyoming Reverse Home Mortgage Loan Program.   We understand that considering a reverse mortgage is an important decision for seniors and that is why Capital Home Mortgage Wyoming provides dedicated points of contact throughout the reverse mortgage process to ensure that every question is answered and that you have the same representative to walk you through the process.  This assures outstanding customer service and provides a stress-free experience.

Capital Home Mortgage Wyoming is a direct Wyoming Reverse Mortgage Lender that offers seniors both refinance and purchase reverse mortgagees, while managing the entire lending process from beginning to end.  Our in-house processing and underwriting enables for quick, common sense approvals and timely closings.  Rest assured  we have complete control over everything from the application to the funding.

Thank you for the opportunity to earn your business. Call today (307) 365-6001 to talk begin the process or to one of our Wyoming Reverse Loan Specialists.

Wyoming Reverse Home Mortgages

Wyoming Reverse Home Mortgages

Borrowers must be at least 62 years old to qualify for a reverse mortgage in Wyoming. Younger spouses who are not listed as borrowers on the loan may be considered non-borrowing spouses and may have limited protections under certain circumstances.

Reverse mortgage loan amounts are subject to certain limits based on factors such as the appraised value of the home, the age of the youngest borrower, and current interest rates. Borrowers can receive funds through a lump sum, monthly payments, a line of credit, or a combination of these options.

Reverse mortgages in Wyoming are non-recourse loans, which means that borrowers or their heirs will not be held personally liable for repaying more than the home is worth at the time of repayment. If the home’s sale proceeds are insufficient to cover the loan balance, FHA insurance covers the shortfall.

Wyoming homeowners have legal protections against foreclosure on their primary residence, even if they have a reverse mortgage. Lenders are prohibited from foreclosing on the home as long as the borrower continues to meet the loan obligations, such as paying property taxes and homeowners insurance and maintaining the property.

Wyoming has consumer protection laws in place to safeguard borrowers from predatory lending practices and ensure that reverse mortgage transactions are conducted fairly and transparently.

Before obtaining a reverse mortgage in Wyoming, homeowners should explore alternative options, and consult with a qualified Wyoming Reverse Mortgage advisor to ensure that a reverse mortgage is the right choice for their needs.

Wyoming Reverse Mortgages

Wyoming Reverse Mortgages

Retirement life can be challenging, and when you reach the age of seniority or 62 years old in Texas, you’ll potentially have the most extended holiday of your life.  You’ll say goodbye to going to work on Mondays and miss the fun of leaving work on Fridays.  After all, you’re retired.   However, retirement also means that you have limited sources of income.  While you may have insurance, pensions, and investments, they can be inadequate.  The good news is you can access additional financing through a Wyoming Reverse Mortgage.

Wyoming Reverse Mortgage is a home mortgage program where the borrower gives up the equity in their home in exchange for a fixed amount of cash against the equity in their home.  The critical factor here is that the borrower owns and occupies the property as a primary residence.  Reverse mortgages provide qualified senior citizens with a steady stream of additional cash flow during retirement.

This mortgage program is a great way to realize the value of your investment.  Homes are still investments, and most people don’t enjoy their value because they can’t sell them.  With reverse mortgages, you can borrow against the value of your home, receive money from the mortgage, and get to keep staying in your home.  The loan must be repaid when the homeowner sells or vacates the property, or earlier under specific conditions, such as failure to pay property taxes, homeowners insurance, or neglect of home maintenance.

Capital Home Mortgage Wyoming offers reverse mortgages in Wyoming.  Call (307) 365-6001 to speak with our Wyoming Reverse Mortgage Specialists and discover if a reverse is right for you.

Wyoming REverse Home Loans

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • Purchase & Refinance
  • Primary Only
  • 62 Years or Older
  • Required Hud Counseling
  • Homeowners Insurance Required
  • Must Continue to Pay Taxes
  • Meet Required Equity Values

Wyoming HECM Reverse Mortgage

Wyoming Proprietary Reverse Mortgage

Wyoming HECM Reverse

Wyoming Home Equity Conversion Mortgages

A Wyoming Home Equity Conversion Mortgage is the most prevalent reverse mortgage type because it has no restrictions. In other words, you get to use the money in any way you want enabling seniors to access a portion of their home’s equity.  The HECM allows the borrower to withdraw cash in a fixed monthly amount, a line of credit, or a combination of both.  A HECM can also be used to purchase the borrower’s primary residence as well.  The HECM is insured and regulated by the U.S. Department of Housing and Urban Development (HUD), and under is under the division of the Federal Housing Administration (FHA).

  • Advantages of a HECM
    • No credit score requirements
    • Tax-exempt funds
    • No monthly loan payments are due.  Owner Still Responsible for Property Taxes, Insurance, Property Related Charges
    • Lenient income requirements
    • The ability to obtain funds based on their home equity
    • Depending on their preferences, homeowners can get cash through a line of credit, modified tenure, etc
  • Dis-Advantages of a HECM
    • Property must be their primary residence for most of the year
    • Must repay the HECM if they sell the home or relocate

Wyoming Proprietary Reverse

Wyoming Proprietary Reverse Mortgage

Wyoming Proprietary Reverse Mortgage is a private mortgage that is not guaranteed by the federal government and is typically issued to borrowers who require more than the HECM maximum. It enables the homeowner to access the equity in their house and utilize the funds for any purpose.  However, they are not regulated; therefore, the loan terms might vary significantly between lenders. 

  • Advantages of a Proprietary Reverse Mortgage
    • Homeowners can use the money from their home equity for anything they want.
    • Possible to get more money than with reverse mortgages insured by the government.

Wyoming Single Purpose

Single Purpose Reverse Mortgage

The Wyoming Single-Purpose Reverse Mortgage is a government or non-profit-backed option for accessing home equity for a particular purpose. A single-purpose reverse mortgage is an agreement between a lender and a borrower in which the lender gives the borrower money in exchange for a portion of the borrower’s home equity. The payments received by the borrower must be used for a specific purpose approved by the lender and specified in the loan.

  • Advantages of a Single-Purpose Reverse Mortgage:
    • Eliminating traditional mortgage payments and accessing home equity while still owning and living in the home.
    • Modifying an asset that would otherwise be hard to sell into cash that can be used to pay bills in retirement.
  • Disadvantages of Single-Purpose Reverse Mortgages:
    • As time goes on, the amount owed to the lender on the loan balance goes up. The home equity decreases as interest and fees are added to the loan balance each month.
    • With a single-purpose reverse mortgage, the money can only be used for the purpose approved and written into the loan.  This limits how the funds can be used.
Why Wyoming Seniors are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Wyoming Reverse Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Wyoming Reverse Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

Wyoming Mortgage Company Reviews

Wyoming Cities

Cheyenne Home Loans

Casper Home Loans

Gillette Home Loans

rock Springs Home Loans

Lamarie Home Loans

Sherdian Home Loans

Accessibility Toolbar