Monthly Payment on a $350K Mortgage in Wyoming
Using Wyoming's 0.61% property tax rate and $1,800/yr homeowners insurance.
$350K 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% | $2,410 | $2,300 | $1,918 |
| 6.0% | $2,515 | $2,400 | $2,007 |
| 6.5% | $2,624 | $2,503 | $2,098 |
| 7.0% | $2,734 | $2,607 | $2,191 |
| 7.5% | $2,847 | $2,714 | $2,286 |
| 8.0% | $2,962 | $2,823 | $2,382 |
How This Compares to Wyoming's Median
A $350K home is close to Wyoming's median of $340K — this represents a typical purchase in the state. Cities at this price range include Sheridan, Cheyenne, Laramie, Lander.
Income Needed for a $350K Home in Wyoming
To afford this payment of $2,503/mo in Wyoming, you'd need a household income of approximately $107K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $110K salary can afford →Closing Costs in Wyoming
Estimated closing costs in Wyoming: $4K (1.1% of purchase price). Wyoming has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $350K Mortgage in Wyoming
With 10% down ($35,000), your loan of $315,000 at 6.5% over 30 years produces a principal and interest payment of $1,991/mo. Adding Wyoming's 0.61% property tax ($178/mo) and $1,800/yr insurance ($150/mo) brings your total to $2,503/mo. Because you're putting less than 20% down, PMI adds $184/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $401,765 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $37,688 over the life of the loan.