Wyoming
New 1% Down Mortgage Program Expands Access to Homeownership Across Wyoming
CASPER, Wyo. — A recently reintroduced mortgage program is making it easier for Wyoming residents to purchase a home with significantly less money out of pocket. The 1% Down Conventional Loan Program allows qualified buyers to contribute just 1% toward their down payment, while the lender provides an additional 2% grant, up to $7,000, to meet the standard 3% requirement for conventional financing.
Unlike most down payment assistance options, the 2% contribution is structured as a true, non-repayable grant. Borrowers do not take on a second lien or deferred loan, and there is no repayment obligation—making the program one of the most accessible and flexible low-down-payment options available in today’s housing market.
The program is offered as a 30-year fixed-rate conventional loan and is available to both first-time and repeat homebuyers purchasing a primary residence.
“In today’s market, affordability is one of the greatest barriers for potential homebuyers,” said Alexander Lexington, owner of Lexington Funding and a mortgage broker based in Casper. “This program offers a direct path to ownership for borrowers who may be short on liquid savings.”
Real estate professionals and lenders across the state have welcomed the program as a timely solution to the affordability crisis, especially as home prices continue to rise. Some note the program’s potential to serve as a compelling alternative to traditional assistance programs or FHA loans, which require higher minimum down payments and include upfront mortgage insurance premiums.
“What’s exciting about this program is that it runs as a conventional loan,” Lexington added. “Compared to typical DPA programs, it’s more flexible, no upfront mortgage insurance, and doesn’t saddle the buyer with hidden strings or extra layers of financing. It’s opening doors that felt closed for a lot of families.”
With a limited pool of funds and growing interest from buyers across the state, this program is expected to fill quickly. Those considering a home purchase are encouraged to act now.
📞 To learn more, ask questions, or see if you qualify, contact Alexander Lexington at (307) 998‑3650.
Disclosure: Alexander Lexington is a licensed mortgage broker in Wyoming. NMLS #2074181. This article is for informational purposes only and does not constitute a commitment to lend. All loans are subject to credit approval, program guidelines, and funding availability. Rates and terms are subject to change without notice. Equal Housing Lender.
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Wyoming’s economy continues to show signs of steady—if cautious—forward motion as the state works through a mix of growth, headwinds, and sector-by-sector shifts.
During the third quarter, job growth held to a familiar, modest pace. Total employment was up 0.4 percent compared to a year earlier, translating to about 1,300 additional jobs statewide. While that growth won’t set records, it reflects a labor market that remains resilient in an uneven economic climate.
Several sectors helped carry that momentum. Transportation, warehousing, and utilities posted the strongest gains, growing nearly 2 percent over the year. Government employment—including public higher education, K–12 schools, and local hospitals—added about 500 jobs, while private education and health services contributed another 400. Together, those gains helped offset continued losses in mining, which contracted by nearly 4 percent.
Even with that decline, Wyoming’s unemployment rate remained low at 3.3 percent in the third quarter—well below the national average of 4.3 percent. Dr. Wenlin Liu, chief economist with the Wyoming Division of Economic Analysis, said the numbers reflect a labor market that’s holding its ground. “Despite a contraction in the mining industry, the state’s labor market continued to demonstrate resilience, characterized by a low unemployment rate and modest employment growth,” Liu said.
That resilience, however, hasn’t carried over evenly into consumer activity. Total taxable sales dipped 0.2 percent compared to the same quarter last year, marking the sixth straight quarter of year-over-year decline. The biggest drags came from wholesale trade and mining. Wholesale trade fell more than 33 percent, largely reflecting a slowdown in wind power projects, while mining sales dropped over 20 percent, driven in part by tax refunds issued back to businesses.
Tourism, on the other hand, offered a bright spot. Even as international travel declined nationwide, Wyoming’s national parks continued to draw crowds. Grand Teton National Park set a new record for recreation visits during the third quarter, and Yellowstone National Park logged its third-highest visitation on record. Those numbers provided a welcome boost to local economies that rely heavily on visitor spending.
Housing remains one of the more complicated stories. Across the country, high mortgage rates and elevated home prices have kept existing-home sales near their slowest pace since the 2008 financial crisis. Inventory, which had been a major obstacle for buyers, has improved—climbing more than 15 percent year-over-year—but affordability remains a challenge. In Wyoming, single-family home prices continued to edge higher, rising 1.2 percent compared to last year. That increase was slower than the national pace, which cooled to a 2.2 percent annual gain.
Energy revenues told a more nuanced story. Mineral severance tax collections in the third quarter were up slightly—about 0.6 percent from a year ago. Strong demand from AI-related data centers and record liquefied natural gas exports pushed natural gas prices higher, helping to offset a significant drop in oil prices. The net result was a modest gain in revenue rather than a sharper decline.
State finances also benefited from higher investment returns. Thanks to a larger investment corpus, income distributed to the state’s general fund reached $118.8 million in the third quarter—up 12.5 percent from the same period last year and the highest total ever recorded for a third quarter.
At the local level, the November 2025 Cheyenne Economic Indicators report painted a similarly mixed but generally positive picture for Laramie County. The Cheyenne Economic Health Index rose to 108.1 in September, up from 107.3 a year earlier, and has increased year-over-year in five of the past six months. Non-farm payrolls reached 49,000 jobs, up about 200 from last year, while the county’s unemployment rate ticked slightly higher to 3.0 percent.
Sales tax collections told a stronger story locally than statewide. Laramie County collected $13.6 million in 4 percent sales and use tax revenue in September—an 11.9 percent increase over last year. Meanwhile, the average home value in the county rose 2.9 percent year-over-year.
Taken together, the data suggest an economy that’s neither surging nor stalling. Wyoming continues to lean on steady employment, strong tourism, and solid investment income, while navigating softer consumer spending, housing affordability challenges, and ongoing shifts in the energy sector. It’s a familiar balancing act—one that shows progress, even if it’s coming a little slower than some might hope.
Wyoming: A Dozen Photos Reflecting on 2025
Gallery Credit: Kolby Fedore, Townsquare Media
Wyoming and Idaho families with kids may not have access to additional federal food assistance again next summer.
The states are among 13 yet to opt into the program known as Summer Electronic Benefit Transfer. The program provides $120 during the summer months for each school-age child who qualifies for free or reduced-price meals during the school year.
Kelsey Boone, senior child nutrition policy analyst at the Food Research and Action Center, said about 107,000 Idaho children would be eligible if the state participates in the program, although it does not look likely for 2026.
“Every time a state opts out of Summer EBT, they leave federal dollars on the table and leave children without critical nutrition support,” Boone contended. “We strongly urge states to support families and opt in, in 2027 and beyond, and we urge lawmakers to protect Summer EBT funding.”
Boone noted states attempting to replace Summer EBT with their own programs have largely failed to reach as many kids as the federal program. The deadline for states to sign up for Summer EBT is Jan. 1. Boone said a regulatory deadline passed in August without Idaho submitting a plan but it is unclear if it would keep the state from participating. Idaho, and Wyoming, did not participate in the program in 2025.
The state of Wyoming and some school districts offer other local summer school lunch programs.
Summer EBT began as a program during the pandemic to provide assistance to children. Boone pointed out households, especially those with children and families of color, are still struggling to recover from the pandemic. She added families are also facing an anticipated loss because of cuts to the Supplemental Nutrition Assistance Program or SNAP, included in the One Big Beautiful Bill Act.
“SNAP cuts will ripple through every child nutrition program, including Summer EBT,” Boone projected. “As households with children lose access to SNAP, summer childhood hunger will rise, making Summer EBT even more essential.”
The One Big Beautiful Bill Act cuts SNAP funding by $186 billion through 2034, the largest cut in the program’s history.
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