When you get a reverse mortgage in Wyoming, you borrow against your home's value. You work with a lender that holds a license from the Wyoming Division of Banking. The reverse mortgage Wyoming lenders usually offer is the federal Home Equity Conversion Mortgage, or HECM. While you're living in the home, you don't make monthly payments on the loan. The balance grows over time instead. You repay the loan after you move out or sell the house. Between October 2025 and August 2026, 59 HECMs got insured in Wyoming, an increase from 50 during fiscal year 2025. The median home value among borrowers was $383,000, and the median initial principal limit came to $185,598. Your principal limit is the full amount you can borrow before any existing liens or fees are subtracted.
Wyoming's property tax refunds and the limit on assets of $156,900
Federal Consumer Financial Protection Bureau rules say you have to continue paying for your property taxes and homeowners insurance. You're also required to live in the house as your main home and maintain it well. If you get behind on property taxes, your loan could go into default. When you default, you've broken the loan's rules and the lender can demand you pay it back and begin foreclosure. Tax help from the state can keep your budget on track.
Property Tax Refund Program: how to apply
Through the Wyoming Property Tax Refund Program, you can get back as much as 1/2 of the median tax on a residential property. The cap is 75% of your bill if that amount is less. You need to have lived in Wyoming for the last 5 years to be eligible. Your household income has to be less than 145% of either your county's median or the state's median, whichever number is greater. For each adult in your household, you must also have less than $156,900 in assets. Having a reverse mortgage might change your eligibility, so go over the application form carefully. You'll find it available through the Department of Revenue or at your County Treasurer's office. You must turn in your application by the 1st Monday in June every year.
If you're a homeowner older than 62, can you put off taxes in Teton County?
Yes, you can defer if your income is limited and you reside in Teton County. A deferral puts off paying your taxes to a later date. The Property Tax Deferral Program is a county-level choice under state law, and so far Teton County is the only place that has approved it. You have to be older than 62 or certified as disabled by the Social Security Administration. Apply by November 10 in the year taxes are levied. The deferral then covers as much as 1/2 of the property taxes owed on a qualifying principal residence. Deferred taxes keep collecting interest, so this deferral is neither a refund nor a credit.
Wyoming Division of Banking: the (307) 777-7797 complaint line
Wyoming's state government licenses and supervises all reverse mortgage lenders, along with loan originators and mortgage brokers. A Wyoming legislative report says the Division of Banking watches over more than 4,100 companies that offer consumer financial services. The agency investigates consumer complaints against state-chartered financial institutions and businesses that lend money to consumers. Mortgage lenders and brokers fall into that category. You can file a consumer complaint with the Wyoming Division of Banking or call (307) 777-7797.
Are there any rules in the Wyoming Residential Mortgage Practices Act that apply only to reverse mortgages?
No, state records don't show any law drafted only for reverse mortgages. Both lenders and brokers follow the Wyoming Residential Mortgage Practices Act, which runs from Wyoming Statutes 40-23-101 through 40-23-133. It's also covered by rules the Division of Banking issues. Federal rules set your reverse mortgage requirements, since the state regulates lender licensing.
