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Seniors who would like to access credit through the equity in their homes can apply for Wyoming reverse mortgage loans. Like most seniors,Wyoming seniors who are over 62 years could be worried about emergencies and medical debt, may have a high debt to pay off, their income could have suddenly dropped off due to semi-retirement or retirement, and may feel pinched by the high cost of living expenses. With a reverse mortgage, senior homeowners can accumulate credit by using the equity in their homes. This means they do not have to sell the home but can still access lines of credit.

Majority of senior homeowners find Home Equity Conversion Mortgage (HECM) from the HUD convenient. This financial product is insured by the federal government and Wyoming lenders use local FHA limits to determine how suitable a borrower is for the loan. Only 2 out of the 23 counties in Wyoming have remarkably higher than the national average for FHA mortgage limits. These counties are Teton and  Sublette.

The FHA and HUD do not take applications for reverse mortgage, make loans or lend out money. They only administer the HECM and work together to provide updated homebuyer and homeowner programs, consumer information  and oversee the national housing industry.