Wyoming has two large-loan markets that could not be more different. Teton County, around Jackson, has some of the highest home prices in the country. Everywhere else, a $1M+ bridge usually buys a group of plexes or rentals.
In short: LendingStreet makes residential investor bridge loans from $1M to $5M+ on 1-8 unit Wyoming property, with rates from 7.99%, interest-only payments and closings in as little as 10 days on a complete file. Typical collateral is Laramie and Cheyenne plexes, Casper rental packages and high-value homes in Teton County. Larger balances usually need a full valuation, and exits are a sale or a DSCR or jumbo DSCR refinance.
Cheyenne has steady demand from state government and F.E. Warren Air Force Base. Laramie has university demand from the University of Wyoming, with older plexes and small multifamily. Casper, Gillette, Rock Springs and Sheridan have energy-linked rental demand, and Sheridan and Cody also draw retirees and remote workers. Outside Teton County, single-family homes and plexes are moderately priced, so a large loan usually means two or more buildings or a group of houses.
Jackson and Teton County are a separate market, with very high values, a severe workforce housing shortage and nightly rentals allowed only in specific zones.
A large bridge loan is a short-term, interest-only loan used to buy or recapitalize investment property fast, then exit through a sale or a long-term refinance. Our bridge program spans $150,000 to $5M+, with rates from 7.99% and closings in as little as 10 days on a complete file.
At $1M and above in Wyoming, each request is reviewed on its own merits, and larger balances usually require a full valuation of every property securing the loan.
| Feature | Large residential bridge |
|---|---|
| Loan size | $1M to $5M+ (program from $150,000) |
| Rates | From 7.99% |
| Payments | Interest-only |
| Speed | As little as 10 days on a complete file |
| Valuation | Full valuation usually required on larger balances |
| Property | 1-8 unit non-owner-occupied investment property |
| Exit | Sale, DSCR or jumbo DSCR refinance |
Laramie and Cheyenne plexes rarely come to market in quantity, and Jackson homes draw competing offers. A bridge loan closes quickly, then gives time to stabilize or plan the exit.
This example is illustrative and not a quote. An investor buys two eight-unit buildings near the University of Wyoming for $2,200,000, 16 units in all. Several units are dated and below market.
The bridge loan is $1,540,000, sized at 70% of the purchase price for this example, and the estimated interest-only payment is about $12,833 a month. Over a 6-month hold that is roughly $77,000 of interest carry, which belongs in the budget from day one.
At refinance the properties appraise at $2,300,000. A DSCR loan at 70% LTV is $1,610,000, with estimated principal and interest of about $10,983 a month. Add $1,150 in taxes, $900 in insurance and $0 in other housing costs, and the total payment is about $13,033. Against $16,800 of monthly rent, DSCR is about 1.29x.
With low property taxes and 16 units at market, the buildings clear 1.0x comfortably. The $1,610,000 refinance repays the $1,540,000 bridge with about $70,000 left over.
| Item | Amount |
|---|---|
| Purchase price | $2,200,000 |
| Bridge loan (70% of price) | $1,540,000 |
| Estimated monthly interest-only payment | $12,833 |
| Interest carry over 6 months | $77,000 |
| Value at refinance | $2,300,000 |
| DSCR refinance at 70% LTV | $1,610,000 |
| Estimated principal and interest | $10,983 |
| Taxes, insurance and other monthly costs | $2,050 |
| Total monthly payment | $13,033 |
| Monthly rent | $16,800 |
| DSCR | 1.29x |
Wyoming does not charge a real estate transfer tax or a state income tax. Closing costs are mainly title, escrow and loan costs.
Wyoming is a non-disclosure state, so sale prices are not public and appraisers rely on MLS and their own research. Unique Teton County homes can be hard to value, so order the valuation early. Property taxes are low compared with most states, which helps the long-term ratio, but confirm the current assessment and mill levy with the county, since recent legislation has changed how residential property is taxed.
Laramie, Cheyenne and Casper plexes often clear a 1.0x DSCR at standard leverage on long-term leases, since prices are moderate and property taxes are low. The DSCR refinance qualifies on combined rent of all units.
Jackson homes are hard to support on long-term rent, so investors there usually plan a sale or a lower-leverage jumbo DSCR loan, with leverage that varies by program. Investors with five or more rentals elsewhere in the state can also refinance into a blanket portfolio loan with one payment and release provisions.
Rental demand in Gillette, Casper and Rock Springs moves with energy activity, so lenders look closely at occupancy and rent stability there. Winters bring heating, snow and wind costs statewide.
Teton County and Jackson limit nightly rentals to specific zones, and most residential areas do not allow them. Confirm before relying on STR income. Wind is a year-round factor across southern Wyoming, so ask insurers about roof and siding coverage on older buildings in Laramie and Cheyenne.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the addresses, price, current rents, any rehab budget and the exit you have in mind, and the financing team will size the bridge against the exit before you commit. Call (877) 298-1001 or use the form below.
Large Wyoming files move fastest when title, insurance and the valuation are ordered as soon as terms are agreed. Starting those three items early is usually what makes a 10-day close possible on a bigger balance.
No. Wyoming does not charge a real estate transfer tax. Closing costs are mainly title, escrow and loan costs.
Wyoming is a non-disclosure state, so appraisers rely on MLS and their own research. Unique homes can be harder to value.
Only in zones where nightly rentals are allowed. Most residential areas in Teton County do not allow them.
In as little as 10 days when title, valuation and entity documents are ready. Larger balances add review time, so start the valuation as soon as the contract is signed.
Generally yes. Larger balances usually need a full valuation of each property, even though some smaller bridge loans do not.
No. Our investor loans are business-purpose loans on non-owner-occupied property. They are made for investment properties held by investors or their entities.
Yes, with close attention to occupancy and rent stability, since demand moves with energy activity.
Yes. Buildings with up to 8 units qualify. Larger buildings are commercial loans.
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