Jumbo loans are rare in Casper. Few single rental properties are worth enough to need a $1.5M loan, so this page is mainly for investors buying or refinancing a newer multi-unit building, or deciding whether a jumbo loan or a blanket loan fits a group of rentals better.
In short: LendingStreet offers jumbo DSCR loans from about $1.5M to $5M+ for purchase, rate-and-term and cash-out on high-value 1-8 unit rentals in Casper, qualified on rent with no tax returns. Larger balances get more review and maximum LTV can be lower, varying by program. In Casper, jumbo files are usually newer 6-8 unit buildings; most single-family rentals and older multi-unit buildings fall into our standard DSCR programs.
Be realistic about what the market holds. Most homes and small buildings in Casper sell well below the jumbo range.
If your property fits the standard programs, they usually offer more leverage and a simpler review than a jumbo file. Start there unless the loan size truly requires jumbo terms.
| Property | Likely loan program | Why |
|---|---|---|
| Newer 7-8 unit townhome or apartment building | Jumbo DSCR | Value can exceed $2M |
| Older 5-8 unit walk-up | Standard 5-8 unit DSCR | Usually under jumbo size |
| Luxury home on acreage near Casper Mountain | Possible, case by case | Rent rarely covers a high-leverage payment |
| Five or more single-family rentals | Blanket portfolio loan | Combines properties into one loan |
This example is illustrative and not a quote. Buildings at this price are uncommon in Casper. This example assumes a newer eight-unit townhome building on the west side, purchased for $2,050,000, with each unit renting for $1,850, or $14,800 a month.
At 75% LTV the loan is $1,537,500 with estimated principal and interest of about $10,619. With assumed taxes and insurance the payment is about $12,369 and the DSCR is about 1.20x. If the program caps leverage at 70%, the loan is $1,435,000 and the DSCR rises to about 1.27x.
At this size, expect closer review of the rent roll, operating history, reserves and appraisal. A building with strong occupancy since completion presents best.
Lenders look closely at the stability of rent at this size. In Casper, that means asking how the building performed during past energy slowdowns, how long units take to lease and whether rents depend on a single employer or industry.
Expect requests for a detailed rent roll, a trailing operating history and larger reserves. Maximum LTV varies by program and is often below standard limits at jumbo balances.
Buildings that kept occupancy through past slowdowns, or that serve tenants tied to stable employers like the hospital and college, make a stronger case.
Wyoming does not publish sale prices, and Casper has very few sales of buildings at this level. Appraisers may pull comparables from Cheyenne, Gillette or other Wyoming markets and lean heavily on the income approach. Provide construction costs, leases and operating statements to help support value. Some large files need a second appraisal or a review, which takes time.
Plan for a longer appraisal timeline than on a standard loan, and keep the property ready for access, including every unit.
Newer townhomes with garages attract energy managers and engineers, medical professionals and households relocating for leadership roles. These tenants pay more for modern finishes and space, but the pool is smaller than in a large metro, so lease-up can take longer.
Underwrite conservatively on lease-up time and include a vacancy allowance in your own cash flow plan, even though the DSCR uses full market rent.
Buildings close to the hospital, Casper College and major shopping on the east and west sides tend to draw the steadiest higher-end tenants.
Builders who complete a multi-unit project often hold it as a rental. Once units are leased, a jumbo DSCR loan can pay off the construction loan on a 30-year term. Rate-and-term reaches up to 80% LTV on some programs, while cash-out is up to 75%, and both can be lower at jumbo balances.
A newly built property may need to be fully leased and show a short operating history before a lender will size the loan on rent.
Seasoning rules vary by program, so a builder refinancing soon after completion should check how the loan will be sized before relying on the appraised value.
Wyoming has no state income tax and no transfer tax. Residential property uses a 9.5% assessment ratio with the local mill levy. A large building means a large insurance premium, and wind and hail exposure along the North Platte corridor affects pricing. Budget for owner-paid common utilities, snow removal and maintenance, which do not enter the DSCR but matter to cash flow.
A capital plan for roofs, siding and paving helps you budget for the larger maintenance items that come with a multi-unit building.
If your Casper holdings are several homes or small buildings, a blanket portfolio loan qualifies on combined cash flow, closes once and includes release provisions. A jumbo DSCR loan suits one high-value property. Our financing team can compare both for your situation.
Some investors use both: a blanket loan for scattered single-family rentals and a separate DSCR loan for a larger building.
Send the property details, rent roll, operating history and your target loan. Call (877) 298-1001 or use the form below.
If a standard DSCR, 5-8 unit or blanket loan fits better, we will show that option too.
No. Most Casper rentals fit standard DSCR programs. Jumbo files are usually newer multi-unit buildings. That may change as newer buildings are completed.
About $1.5M to $5M+, reviewed case by case. Pricing and terms are set per file.
It varies by program and is often lower than standard limits at jumbo balances. Plan for a larger down payment or more equity in a refinance.
Possibly, but rent on high-end homes rarely covers a high-leverage payment, and acreage limits vary by program.
If you own five or more rentals, a blanket loan may fit better than a single jumbo loan. Blanket loans close once, with one payment and release provisions.
No. Jumbo DSCR loans qualify on the property's rent. You will still provide a credit report, entity documents, leases and statements showing reserves.
Usually longer than a standard appraisal, especially when comparables come from other Wyoming markets. Order early and keep the property ready for access.
No. Every loan we make is a business-purpose loan on non-owner-occupied investment property; we do not finance a home the borrower lives in.
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