Few single homes in Cheyenne need a seven-figure loan. When a bridge loan here crosses $1M, it is almost always for several properties at once: a set of new duplexes from a builder, a landlord's whole portfolio, or a small apartment building, bought on a timeline a long-term loan cannot meet.
In short: LendingStreet offers residential investor bridge loans in the Cheyenne area from $1M to $5M+ on 1 to 8 unit properties, with rates from 7.99%, interest-only payments and closings in as little as 10 days when the file is ready. Larger balances are reviewed case by case and usually need a full valuation. Exits are a sale or a refinance into DSCR, jumbo DSCR or blanket portfolio financing.
Cheyenne home prices are moderate, so a $1M+ bridge loan usually reflects scale rather than one expensive property. Larger single homes do exist on the east side and on acreage north of town, but most large files we would expect here involve packages and small buildings.
That shapes the file. A package bridge loan has several titles, several insurance policies and several valuations, and the exit usually depends on leasing all of the units, not just one.
| Deal type | Cheyenne example | Typical exit |
|---|---|---|
| Builder package | Six newly built duplexes on the east side | Blanket DSCR loan after lease-up |
| Landlord portfolio | Ten older homes and duplexes in South Cheyenne | Blanket DSCR or individual DSCR loans |
| Small building | A 6 to 8 unit building near downtown | DSCR loan for 5-8 units |
| High-value home | A large home on acreage north of town | Sale or jumbo DSCR |
Builders finishing a phase of duplexes may want to sell several buildings to one buyer and close quickly. A long-term DSCR loan on empty new units can be harder to size until leases are signed, so a bridge loan covers the purchase and lease-up, then a blanket DSCR loan replaces it.
Retiring landlords are another source of packages. Older portfolios often include homes with deferred maintenance, below-market rents and month-to-month tenants. Bridge financing gives time to renovate, re-lease and document rents before refinancing.
A third use is paying off maturing debt. Some Cheyenne investors carry several properties on a local bank loan with a balloon date. A bridge loan can retire that loan on time while you finish renovations or sort out leases, then a blanket or individual DSCR refinance follows.
This example is illustrative and not a quote. An investor agrees to buy six newly completed duplexes, 12 units in all, for $2,400,000. The bridge loan covers 75% of the price, or $1,800,000, and the estimated interest-only payment is about $15,750 a month while the units lease.
Once all 12 units are leased at about $1,625 each, rent totals $19,500 a month and the package appraises at about $2,550,000. A blanket DSCR refinance at 70% of value is $1,785,000. Estimated principal and interest is about $12,329, taxes about $1,400 and insurance about $1,350, for a total payment of $15,079. DSCR is about 1.29x, and the refinance retires the bridge loan.
| Stage | Amount |
|---|---|
| Package price (12 units) | $2,400,000 |
| Bridge loan (75% of price) | $1,800,000 |
| Estimated monthly interest-only payment | $15,750 |
| Rent after lease-up | $19,500 |
| Appraised value | $2,550,000 |
| Blanket refinance (70% of value) | $1,785,000 |
| Refinance total payment | $15,079 |
| Refinance DSCR | About 1.29x |
Larger balances usually need a full valuation, and packages often need one per property or per building. Wyoming is a non-disclosure state, so recorded deeds do not show sale prices, and appraisers rely on MLS data and their own research. In a market of Cheyenne's size, close comparables for multi-unit buildings can be scarce.
Builder contracts, plans and specifications, and lease-up data from earlier phases help. For older portfolios, renovation scopes and current rent rolls help the appraiser understand both as-is and stabilized value.
Before you close, decide how the bridge loan will be repaid and what that requires. A blanket DSCR refinance needs leases or market rent support for every unit and a combined DSCR that clears the program. Individual DSCR loans let you sell some properties and keep others. A sale may be the exit for a high-value home.
Allow enough time. New units have to be leased, older ones renovated, and some DSCR programs require seasoning before a new appraised value can be used. Choosing a bridge term with a few months of cushion protects you from a slow winter lease-up or a delayed contractor. See our bridge to DSCR guide for how those steps line up.
Wyoming has no real estate transfer tax, which helps on a large purchase, though title, recording and lender costs still apply. Property taxes use a 9.5% assessment ratio and are low by national standards. Insurance is the cost to watch: hail is frequent, and insuring a dozen units with new roofs is very different from insuring older homes with aging roofs.
During the bridge term, budget for interest, insurance, utilities on vacant units, snow removal and leasing costs. Winter lease-ups in Cheyenne can be slower than summer ones, so build in a cushion.
On seven-figure loans, we look at your track record with similar properties, your liquidity, the condition of each property and the leasing plan. Investors who have managed rentals in Cheyenne or similar markets, or who work with an established property manager, are in a stronger position.
The borrower is usually an LLC, and its principals sign for the loan personally. We do not need W-2s or tax returns to size the loan, but we do verify funds for closing and reserves.
Reserves matter more on a package than on a single house. If two of twelve new units sit empty through a Cheyenne winter, the interest, utilities and snow removal still have to be paid, so keep several months of carrying costs available.
Send the property list, price, rent roll or lease-up plan, renovation budget and exit plan through the form below, or call (877) 298-1001. We will size the bridge loan, test the refinance and tell you what is needed to close on your timeline.
Our residential bridge program runs from $150,000 to $5M+, with larger balances reviewed case by case.
Rates start from 7.99% and depend on the property, leverage and your experience.
Larger balances usually need a full valuation, and packages often need one per property or building.
New or vacant units can be hard to size before leases are signed. A bridge loan covers the purchase and lease-up, then a DSCR loan replaces it.
In as little as 10 days when title, insurance and valuation are ready. Multi-property files often take longer.
No. Wyoming has no real estate transfer tax, though title, recording and lender costs still apply.
Not on this program. Residential bridge loans cover 1 to 8 unit properties, and nine or more units moves into commercial multifamily financing, which we cover on a separate page.
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