The Best Mortgage Lenders in Story, WY
Compare verified mortgage lenders serving Story, Wyoming. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Story
Featured Mortgage Lenders
First Federal Bank of Sheridan
First Federal Bank of Sheridan - Mortgage Division
First Federal Bank of Sheridan is a highly-rated community bank serving northern Wyoming, including the Story area. With over two decades of local lending experience, they offer personalized mortgage services and competitive rates. Their mortgage team specializes in rural and mountain property financing, making them an excellent choice for Story residents. They maintain strong relationships with local real estate professionals and provide exceptional customer service with local decision-making authority.
Loan Types:
WyHy Federal Credit Union
WyHy Federal Credit Union - Mortgage Lending
WyHy Federal Credit Union serves members throughout Wyoming, including Story area residents. As a member-owned financial cooperative, they offer competitive mortgage rates and personalized service. Their mortgage specialists have extensive experience with Wyoming property financing and understand the unique needs of rural communities. They provide educational resources for first-time homebuyers and offer various loan programs with flexible terms tailored to individual financial situations.
Loan Types:
Guild Mortgage Company - Sheridan Branch
Guild Mortgage Company
Guild Mortgage's Sheridan branch serves the Story area with comprehensive mortgage services from a nationally recognized lender with strong local presence. Their experienced loan officers specialize in mountain and rural property financing, offering competitive rates and flexible loan options. Guild provides personalized service with local processing and underwriting expertise, ensuring smooth transactions for Story homebuyers. They have built strong relationships with local real estate professionals and offer extensive educational resources for borrowers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Story, WY
Are mortgage rates in Story, WY, typically higher than the national average due to its rural location?
Not necessarily. While Story is a small, rural community, mortgage rates are primarily set by national economic factors and your personal financial profile. However, working with a local lender familiar with the Sheridan County market can sometimes provide access to competitive regional programs or relationships with local banks that value community investment, which can be advantageous.
What local or state programs are available for first-time homebuyers in Story?
Wyoming offers the **Wyoming Community Development Authority (WCDA) First-Time Home Buyer Program**, which provides competitive fixed-rate mortgages, down payment assistance, and closing cost assistance to eligible buyers. This is a key resource for Story residents, as local programs are scarce. Eligibility is based on income and purchase price limits, which are adjusted for the county.
How does the seasonal tourism economy in Story (near Big Horn Mountains) affect mortgage approval for service industry workers?
Lenders may scrutinize variable income more closely. If you work in a seasonal field like hospitality or outdoor recreation, you'll typically need to provide a two-year history of employment and tax returns to demonstrate stable annual income. Using year-round income averages, not just peak-season earnings, is crucial for qualifying for a mortgage in Story.
Are there specific considerations for getting a mortgage on a property with acreage or well/septic in Story?
Absolutely. Properties in and around Story often include land, private wells, and septic systems. Lenders will require a satisfactory water test and septic inspection in addition to the standard appraisal. The appraisal itself must be done by someone competent in valuing rural properties, as the value of the land and outbuildings significantly impacts the loan-to-value calculation.
Is it difficult to find lenders who understand the unique property types in Story, like log homes or older ranches?
It can be a challenge. While major national lenders may offer loans, your best bet is often a local or regional bank or credit union in Sheridan County. These institutions have more experience appraising and underwriting non-standard construction and understand the local market nuances, making the process smoother for unique Story properties.
Why Choose a Mortgage Lender in Story?
Local Market Knowledge
Lenders who understand Story's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Wyoming.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Story and get competitive rates on your home loan.