Wyoming is friendly to investors on paper, with no transfer tax, no state income tax and fast landlord remedies. But lenders' location rules look for a large metro nearby, and Wyoming's is across the border in Colorado. This page explains where our lending partners can finance in Wyoming, how to value a deal without public sale data, and their terms.
Our lending partners' underwriting guidelines look for property within about 45 to 60 minutes of a metro area of 200,000 people or more. Wyoming is the least populated state in the country, and none of its own metros comes close to that size. So the question in Wyoming is not which cities qualify, but which are close enough to one outside the state.
Cheyenne is the answer. It sits about 45 minutes north of Fort Collins, Colorado, whose metro is well over 200,000 people, and it shares the growing northern Front Range economy. Cheyenne and the surrounding parts of Laramie County are Wyoming's financeable core.
Laramie, about an hour from Fort Collins, sits at the edge of the guideline. Check each address.
The rest of the state, including Casper, Gillette, Rock Springs, Sheridan, Riverton and Jackson, sits well beyond an hour from any metro that size, so properties there generally fall outside the guideline. We would rather say that plainly than have you spend money on inspections first.
Two rules apply anywhere: a finished value of at least $100,000, and a lot of two acres or less, which excludes many parcels on the edge of Cheyenne.
Wyoming is a non-disclosure state. Sale prices are not generally public, so automated estimates are unreliable and you cannot simply look up the neighbors' sales. In a market Cheyenne's size, a single unusual sale can pull an estimate far off.
Build your after-repair value from closed sales pulled from the multiple listing service by a local agent, compare finishes and lot sizes yourself, and expect the lender's appraiser to work from the same data.
No transfer tax and no state income tax. A flip keeps money that would go to the state in many others, and rental income is not taxed at the state level.
Low property taxes. Wyoming's residential property taxes are among the lowest in the country. Still, check the county's figure for the exact address before you estimate holding costs.
Quick landlord remedies. For unpaid rent a Wyoming landlord gives a three-day notice to quit before filing, and the eviction process moves quickly. Security deposits go back within 30 days after the rental agreement ends, or 15 days after the landlord receives the tenant's new address, whichever is later, with an itemized list.
Foreclosure by power of sale. Wyoming generally allows foreclosure outside court, which lenders are comfortable with.
The season. Cheyenne winters are windy and cold. A renovation that includes a roof or siding should plan that work for the warmer months, since our lending partners' guidelines describe a nine-month standard term.
No Wyoming county is on the list where our lending partners cap leverage at 50 percent, so standard terms apply wherever the location test is met.
Fix and flip and bridge loans: from $50,000, up to 100 percent of cost but no more than 70 percent of after-repair value, with a 600 minimum credit score. Standard pricing under the underwriting guidelines is 12.99 percent and 2.99 points. The 10.99 percent starting rate is available after two loans have been paid off in good standing with our lending partner; a first-time borrower should expect to start above it and earn the way down.
DSCR rental loans: $75,000 to $2 million at up to 80 percent of value, qualified on the rent, with rates from 5.99 percent on the program page.
Construction loans: $100,000 to $3 million on non-owner-occupied single-family homes, from 8.5 percent.
Loans close in an entity such as an LLC, and every owner of 30 percent or more personally guarantees the loan. Terms change, so we confirm them for your property before you commit.
In the Cheyenne area, yes. Our lending partners finance in Wyoming, but their guidelines look for property within about 45 to 60 minutes of a metro area of 200,000 people or more. No Wyoming metro is that large, so qualifying property generally sits in and around Cheyenne and Laramie, within reach of Fort Collins, Colorado.
Generally not through our lending partners. Casper, Gillette, Rock Springs, Sheridan and Jackson are all well over an hour from a metro of 200,000 people, so properties there fall outside the location guideline.
No. Wyoming does not tax real estate transfers, and it has no state income tax, both of which help an investor's numbers.
Yes. Sale prices are not generally part of Wyoming's public record, so an agent with multiple listing service access is the practical way to find comparable sales for an after-repair value.
With a three-day notice to quit before filing an eviction action. Wyoming's eviction process is one of the faster ones in the country.
Within 30 days after the rental agreement ends, or within 15 days after the landlord receives the tenant's new address, whichever is later, with an itemized list of any deductions.
Holding a Cheyenne rental? Our two free landlord books compare what a rental costs to carry across the states.
Answer these and your deal goes to our lending partner's team, who will contact you about whether it is fundable and on what terms. By sending it you agree to your details being shared with them. Investment property only — our lending partners do not finance a home you will live in.
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Dominion Hard Money does not lend its own funds; it arranges financing through third-party lending partners. All financing is arranged for business purposes only and secured by non-owner-occupied investment property. Not a commitment to lend. All loans subject to underwriting, property review, and approval by the lender. Terms vary by property, borrower experience, and exit strategy.
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