Reverse Mortgage Cheyenne WY

A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence or fail to meet the obligations of the mortgage. There are certain reverse mortgage requirements you must qualify for before you can apply for this type of FHA Home Equity Conversion Mortgage (HECM) that’s only available to people 62 years of age or older. Please scroll down to learn more and get access to all the products and services in Cheyenne, WY listed below.

Bank of the West - Cheyenne - Downtown Branch
(800) 488-2265
1800 Carey Avenue
Cheyenne, WY
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Bank of the West - Cheyenne North Branch
(800) 488-2265
1515 Dell Range Blvd
Cheyenne, WY
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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U.S. Bank - Cheyenne Downtown Branch
(800) 872-2657
2020 Carey Ave
Cheyenne, WY
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.95. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Wells Fargo - Cheyenne East Branch
(866) 245-3452
3600 East Pershing Boulevard
Cheyenne, WY
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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US Bank - Frontier Mall Office
(307) 772-4060
1437 Prairie Ave
Cheyenne, WY
Drive Up Hours
Mon 08:00 am to 05:30 pm
Tue 08:00 am to 05:30 pm
Wed 08:00 am to 05:30 pm
Thur 08:00 am to 05:30 pm
Fri 08:00 am to 05:30 pm
Sat 09:00 am to 12:00 pm

Bank of the West - Cheyenne East Branch
(800) 488-2265
2200 East Lincolnway
Cheyenne, WY
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
U.S. Bank - Cheyenne Frontier Branch
(800) 872-2657
1437 Prairie Avenue
Cheyenne, WY
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.95. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
Wells Fargo - Cheyenne Downtown Branch
(866) 245-3452
1701 Capitol Avenue
Cheyenne, WY
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided By:
Wells Fargo - Cheyenne Downtown
(307) 771-3711
1701 Capitol Ave
Cheyenne, WY
Type
Branch
Office Hours
Mon-Fri 07:30 AM-05:30 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Wells Fargo - Cheyenne East
(307) 433-1267
3600 E Pershing Blvd
Cheyenne, WY
Type
Branch
Office Hours
Mon-Fri 07:30 AM-05:30 PM
Sat 09:00 AM-01:00 PM
Sun Closed

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Reverse Mortgage

A reverse mortgage is sometimes called a senior reverse mortgage. These home loans allow homeowners age 62+ to borrow against equity in their homes if they meet reverse mortgage requirements. One very popular type is the FHA Home Equity Conversion Mortgage (HECM).

The FHA Home Equity Conversion Mortgage (HECM) is a special type of senior reverse mortgage. With it, the homeowner can borrow against the equity in their home without having to sell their home, give up title to their home or take on a new monthly payment on the mortgage. Instead, this type of mortgage essentially “reverses” the payment. So, instead of making a mortgage payment to the lender, the lender pays the owner instead.

This can be kind of confusing, which is why consulting with an HECM specialty lender is a good idea. The lender can help you understand the reverse mortgage eligibility requirements. Typically, the amounts you can receive are age dependent, as well as factor in the appraised value of the home, current loan interest rates, and with the government program there are also geographical caps on lending limits. Typically, the older you are, and the less you owe on your home, the more money you are able to get through a reverse mortgage.

A wonderful thing about senior reverse mortgage options is that you have choices in how the money is distributed. You can choose fixed monthly payments, a lump sum, or a line of credit. This makes these home loans flexible, and can help borrowers with financial budgeting.

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