Monthly Payment on a $200K Mortgage in Wyoming
Using Wyoming's 0.61% property tax rate and $1,800/yr homeowners insurance.
$200K Mortgage in Wyoming: Rate Comparison
Monthly PITI payment using Wyoming's 0.61% property tax and $1,800/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $1,441 | $1,379 | $1,160 |
| 6.0% | $1,502 | $1,436 | $1,211 |
| 6.5% | $1,563 | $1,494 | $1,263 |
| 7.0% | $1,627 | $1,554 | $1,316 |
| 7.5% | $1,691 | $1,615 | $1,370 |
| 8.0% | $1,757 | $1,677 | $1,426 |
How This Compares to Wyoming's Median
A $200K home is 41% below Wyoming's median of $340K. You'll find homes at this price in cities like Thermopolis, Torrington.
Income Needed for a $200K Home in Wyoming
To afford this payment of $1,494/mo in Wyoming, you'd need a household income of approximately $64K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $60K salary can afford →Closing Costs in Wyoming
Estimated closing costs in Wyoming: $2K (1.1% of purchase price). Wyoming has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $200K Mortgage in Wyoming
With 10% down ($20,000), your loan of $180,000 at 6.5% over 30 years produces a principal and interest payment of $1,138/mo. Adding Wyoming's 0.61% property tax ($102/mo) and $1,800/yr insurance ($150/mo) brings your total to $1,494/mo. Because you're putting less than 20% down, PMI adds $105/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $229,580 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $21,536 over the life of the loan.