Fixed-rate mortgages in Wyoming
If you’re looking for a conservative mortgage, take a close look at a fixed-rate mortgage (FRM). A popular choice among home buyers, neither the interest rate nor the monthly payment will ever change with this type of mortgage. Borrowers usually opt for a 30-year maturity term, but lenders do offer FRMs with shorter and longer terms. Shorter term FRMs may come with a lower interest rate, and is a good choice if you can afford the slightly higher payments. Forty- and 50-year terms are also available. But even though monthly payments likely will be lower, the longer term means you may pay more in total interest costs.
