Wyoming rental portfolios are built in Cheyenne, Casper, Laramie, Gillette, Rock Springs and Sheridan, with a very different market in Jackson. Investors holding five or more rentals can combine them in one blanket loan.
In short: Yes, LendingStreet finances blanket portfolio loans in Wyoming for investors with five or more rental properties, each with 1 to 8 units, under one loan qualified on the portfolio's combined rent. Wyoming has no state income tax and no real estate transfer tax, and residential property is assessed on a 9.5% assessment ratio, which keeps tax bills moderate.
A blanket portfolio loan puts five or more investment properties, each with 1 to 8 units, under one mortgage. Instead of separate notes, escrow accounts and due dates, you have one closing, one payment and one set of loan documents. Pricing is set for the whole portfolio.
Underwriting looks at the portfolio's combined cash flow: total rent against total principal, interest, taxes, insurance and any HOA dues. A weaker property can be carried by stronger ones, as long as the combined ratio clears the program minimum, which is 1.0x on standard programs. Loans start at $150,000 with no stated maximum, and max LTV varies by program and portfolio size.
Cheyenne, the capital, has steady demand from state government and F.E. Warren Air Force Base, and sits about an hour from Fort Collins and Denver, which draws some commuter renters. Laramie is driven by the University of Wyoming. Casper, Gillette and Rock Springs track the energy industry, so rents there can move with oil, gas and coal activity, and current leases matter more than past peaks.
Sheridan and Cody have smaller markets with growing interest from in-migration. Jackson and Teton County have some of the highest prices in the country; a property there can push a blanket loan into much larger balances, and investors often hold those on separate loans. Investors with properties in northern Colorado can ask about programs that cover both states.
This example is illustrative and not a quote. An investor owns three Cheyenne rentals, a Laramie duplex near the university and two Casper single-family homes. Together the six properties are worth about $2,095,000, rent for $14,550 a month and carry about $1,880 a month in taxes and insurance.
At 70% of combined value, the blanket loan is about $1,466,000. Estimated principal and interest on a 30-year schedule is about $10,250 a month, so the total monthly obligation is about $12,130 and the portfolio DSCR is about 1.20x, above the 1.0x standard minimum. On its own, the Cheyenne SFR would carry an allocated balance of about $230,921 and a ratio of about 1.08x; inside the blanket, the stronger properties help carry it. Without a transfer tax, and with residential assessments at 9.5% of market value, the taxes-and-insurance column stays low here, which helps the combined ratio.
| Property | Value | Monthly rent | Taxes + insurance / mo |
|---|---|---|---|
| Cheyenne SFR | $330,000 | $2,050 | $280 |
| Cheyenne SFR near F.E. Warren | $300,000 | $1,950 | $260 |
| Cheyenne fourplex | $560,000 | $4,300 | $520 |
| Laramie duplex | $380,000 | $2,700 | $330 |
| Casper SFR | $270,000 | $1,800 | $250 |
| Casper SFR | $255,000 | $1,750 | $240 |
| Portfolio total | $2,095,000 | $14,550 | $1,880 |
Wyoming does not charge a real estate transfer tax, and it is a non-disclosure state, so sale prices are not public record, so appraisers lean on local multiple listing data and their own records. Residential property is assessed on a 9.5% assessment ratio and bills are generally moderate. Use current bills for each property.
Hail and high wind are the common insurance items across eastern Wyoming, and winter brings frozen pipe and roof snow load risk. Wildfire exposure matters in forested areas near Jackson, Cody and Sheridan. Get quotes for each property before applying.
Selling a rental out of a blanket loan is handled through a partial release. The loan documents assign each property a share of the balance and set a release price, typically above that share, that you pay down when the property sells. The rest of the portfolio stays in place under the same loan.
Plan releases with the remaining portfolio in mind. If you sell the property with the best rent-to-value, the remaining ratio drops, so it helps to model the portfolio after the sale before you list the property.
Wyoming's residential rental statutes are brief compared with most states, setting basic duties for habitability, deposits and notices, and there is no rent control. Leases and rent rolls are what underwriting uses to size the loan.
Short-term rentals are regulated locally. Jackson and Teton County limit them to specific zones, and many residential areas do not allow them. Other cities have fewer rules, but lodging taxes apply. Check locally before counting nightly income.
The case for a blanket loan is simplicity and coverage: one payment, one set of documents, and a combined ratio that lets a lower-performing house ride along with stronger ones. It suits investors who want to stop managing a dozen separate loans.
The case for individual loans is flexibility. Each property can be sold or refinanced on its own without a release price, and a problem with one loan does not touch the others. If you expect to sell several properties in the next few years, keep them out of the blanket.
A complete package keeps the appraisals and underwriting moving. Call (877) 298-1001 or use the form below to get a quote on your Wyoming portfolio.
Yes. LendingStreet finances blanket portfolio loans on non-owner-occupied investment property in Wyoming, from $150,000 with no stated maximum. Our investor loans are business-purpose loans on non-owner-occupied property.
No. Wyoming does not charge a real estate transfer tax. Title, recording and lender costs still apply.
Sale prices are not public record, so appraisers rely on local data and agent records. It can take a bit longer in small markets.
Five or more investment properties of 1 to 8 units each. Properties with 9 or more units are commercial and go through a different program.
Total monthly rent divided by the total monthly payment, including principal, interest, taxes, insurance and HOA dues. Standard programs want 1.0x or better.
Yes. LLC borrowers are standard. If properties sit in several LLCs, ask how the program handles multiple entities.
No stated maximum. Loans start at $150,000, and larger portfolios get more review and may have a lower max LTV.
It can, but Jackson values are much higher than the rest of the state, and many investors keep those properties on separate loans.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.