Rates by city
Mortgage rates in Wyoming, Michigan
Wyoming is Grand Rapids' most accessible neighbor — a working-class suburb whose affordable ranches and bungalows make it one of West Michigan's genuine first-time-buyer strongholds.
The Wyoming market
Prices well below the Grand Rapids median keep Wyoming in reach of first-time and working-family buyers, and demand spillover from the tight GR market has pushed values up steadily. Much of the stock is modest post-war housing that suits FHA financing and pairs well with down payment assistance.
Neighborhoods buyers ask about: Godfrey-Lee · Galewood · Southwest Wyoming · Panhandle · Wyoming Village
What's different about buying here
Wyoming's below-median prices make it one of West Michigan's best MSHDA markets — many homes qualify for the MI Home Loan and the $10,000 down payment assistance.
Down payment help in Wyoming
Wyoming is prime MSHDA territory — a large share of homes fall under the purchase-price cap, so the MI Home Loan plus the MI 10K DPA is a realistic path for many first-time buyers here.
Today's Michigan rates
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 6.45% | 6.52% | ▾ 0.04 pts |
| 15-Year Fixed | 5.72% | 5.81% | ▾ 0.02 pts |
| FHA 30-Year | 6.12% | 6.89% | ▾ 0.05 pts |
| VA 30-Year | 6.02% | 6.21% | ▴ + 0.01 pts |
Source: Editorial survey of Michigan lenders; national benchmark: Freddie Mac PMMS. Averages for borrowers with 740+ credit and 20% down; your quote will differ.
Estimate your exact payment with Kent County's tax rate in the Michigan payment calculator, and see whether you qualify for MSHDA down payment help before assuming you need 20% down.
Frequently asked questions
Is Wyoming a good place for first-time buyers near Grand Rapids?
One of the best. Wyoming's affordable ranches and bungalows sit below both the GR median and the MSHDA purchase-price cap, so income-qualified buyers can pair an FHA or MI Home Loan with the $10,000 MI 10K DPA and get in with minimal cash.
What is the monthly payment on a typical Wyoming home?
On Wyoming's median price of about $260 000 with 10% down at today's 6.45% average rate, expect roughly $1 925/month including Kent County property taxes at ~1.4% and insurance.
Are mortgage rates different in Wyoming than the rest of Michigan?
The interest rate itself is the same statewide — what changes in Wyoming is everything around it: Kent County's ~1.4% effective property tax, local insurance costs, and which down payment assistance programs apply.