Hard Money Loan Wyoming
All steps completed - you're finished
Last updated: May 20, 2025
At OfferMarket, our mission is to empower Wyoming investors to grow wealth through real estate. To support your journey in Wyoming’s dynamic property market, we provide an all-in-one platform:
💰 Private lending
☂️ Insurance rate shopping
🏚️ Off-market Wyoming properties
Our Hard Money Loan program offers fast, reliable, and affordable financing tailored specifically for Wyoming’s 1-4 unit residential investment properties. Whether you plan to flip a property in Casper, Cheyenne, or Jackson for profit, or rent it out and refinance into a DSCR loan, we are here to help you succeed in Wyoming’s unique real estate environment.
Let’s explore the OfferMarket Hard Money Loan Program designed for Wyoming real estate investors!
What is a hard money loan in Wyoming?
A hard money loan is a short-term, asset-backed loan secured by Wyoming residential real estate—typically 1-4 unit homes—used to purchase, refinance, or renovate properties to either sell for a profit or hold as rentals.
In Wyoming’s real estate circles, these loans are often called “bridge loans” or “fix and flip loans,” and they provide essential capital when traditional financing may be slow or unavailable.
Hard money loan scenarios specific to Wyoming investors
Wyoming real estate investors most commonly use hard money loans for the following purposes:
Buying and renovating older or distressed properties, such as fixer-uppers in Laramie or Gillette, without tying up all their cash
Refinancing a cash-purchased Wyoming property to free capital for renovation or other investments
Refinancing existing loans on Wyoming properties that require rehab to complete a project
Purchasing off-market Wyoming properties below market value with plans to sell “as-is” for profit
Refinancing a cash purchase in Wyoming without rehab plans, to tap equity for other deals
Refinancing after rehab completion to gain time or better financing options before sale or refinance
How it works for Wyoming real estate
A Wyoming hard money loan includes two key parts:
- Initial Advance – Funds wired at closing toward the purchase price of the property.
- Construction Holdback – Funds held for rehab costs, released as work progresses via draws.
You can choose either component independently or both combined. Many Wyoming investors use both to maximize leverage and reduce personal capital outlay. Others might use only the initial advance, especially if they plan to self-fund the rehab or do not plan improvements.
Your exit strategy might be to flip the property for profit or rent and refinance into a longer-term DSCR loan. Wyoming’s fluctuating markets—from booming oil towns to resort areas—make it smart to have flexible exit options.
For instance, you might start planning a BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy in Cheyenne, but find stronger resale profits after rehab, prompting a flip instead. Alternatively, a planned flip in Casper might pivot to rental and refinance if market conditions soften.
This flexibility helps Wyoming investors manage risk and seize opportunities based on local market conditions.
Who uses Wyoming hard money loans?
Fix and flip investors targeting markets like Casper and Sheridan
Rental property investors using the BRRRR method across Wyoming’s residential areas
Many Wyoming investors blend strategies, flipping some properties while renting others, adapting to market dynamics.
Hard Money Loan Program Guidelines for Wyoming
| Criteria | Guideline |
|---|---|
| Loan amount (minimum) | $25,000 |
| Loan amount (maximum) | $2,000,000 |
| ARV (minimum) | $100,000 |
| Experience | Not required |
| Credit score (minimum) | 680 |
| Borrowing entity | LLC or Corporation |
| Initial advance | Up to 90% |
| Construction holdback | Up to 100% |
| LTARV (maximum) | 75% |
| Interest rate | Get instant quote |
| Origination fee | 1.5 to 2 points |
| Term | 12 to 24 months |
| Points out | None |
| Prepayment penalty | None |
| Structure | Interest-only with balloon payment |
| Recourse | Full (51% of borrowing entity must guarantee) |
| Exit strategy: Sale | Minimum 30% ROI |
| Exit strategy: Refinance | Minimum 1.1 DSCR after repairs |
| Valuation | Appraisal report or In-house valuation |
| SqFt (minimum) | Single family: 700+ 2-4 unit: 500+ per unit Condo: 500+ |
| Acreage (maximum) | 5 acres |
| Interest accrual | Under $100,000 loan: full boat $100,000+ loan: as disbursed |
| Advanced draws | Lender discretion |
| Down payment (minimum) | $10,000 |
Project Eligibility
At OfferMarket, we prioritize helping Wyoming real estate investors build lasting wealth by minimizing risk. Our lending track record boasts a default rate under 0.5%, reflecting our commitment to your success in Wyoming’s diverse markets—from rural ranches to growing urban neighborhoods.
Investors with limited experience should avoid projects with high rehab complexity in Wyoming, as large-scale renovations can encounter delays, unexpected costs, and market shifts, especially in less liquid or rural Wyoming areas.
Our role as your hard money lender is to guide you safely through your deals in Wyoming by providing clear expectations, risk management, and capital support. Below is our rehab scope classification and corresponding eligibility based on your experience level.
Initial Advance
The initial advance amount depends on your individual profile and the specifics of the Wyoming property. We evaluate your recent property ownership, rehab project history, and credit score (minimum 680, preferably 720+).
If the Wyoming purchase price exceeds the appraised “As Is” value, your initial advance will be based on the lower appraised value to maintain prudent lending standards.
Your exit strategy also affects the initial advance: for sales, a projected 30% gross margin and $15,000 profit minimum apply; for rentals and refinance, a post-rehab DSCR of at least 1.1 is required.
Properties designated rural by Wyoming standards will face limited initial advances and require a minimum experience tier of 3.
Experience-Based Tiers for Wyoming Investors
| Tier | Verifiable Experience (completed rehab projects) |
|---|---|
| 1 | 0 |
| 2 | 1 to 2 |
| 3 | 3 to 4 |
| 4 | 5 to 9 |
| 5 | 10+ |
Initial Advance by Tier for Wyoming
| Tier | Initial Advance (% of purchase price) |
|---|---|
| 1 | 80%* |
| 2 | 85% |
| 3 | 85% |
| 4 | 90% |
| 5 | 90% |
(*85% may be available on an exception basis for borrowers with excellent credit and liquidity.)
Adjustments to Initial Advance in Wyoming
| Scenario | Adjustment |
|---|---|
| Credit score less than 720 | -5% |
| Full gut rehab | -5% |
| New Wyoming market | -5% |
| Licensed Realtor | Up to +5% |
| Licensed General Contractor | Up to +10% |
| Licensed Professional Engineer | Up to +10% |
| Rural Wyoming property | -20% (3+ experience required) |
Rehab Scope Classification
| Rehab Scope | Definition |
|---|---|
| Light | Rehab budget less than 25% of purchase price |
| Moderate | Rehab budget between 25% and 49.99% of purchase price |
| Heavy | Rehab budget between 50% and 99.99% of purchase price |
| Extensive | Rehab budget 100%+ of purchase price (addition, expansion, ADU, or low purchase price “lopsided” deal) |
Rehab Scope Eligibility
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience (projects) | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | Eligible | Eligible | Eligible | Eligible | Eligible |
| Moderate | Ineligible | Eligible | Eligible | Eligible | Eligible |
| Heavy | Ineligible | Eligible | Eligible | Eligible | Eligible |
| Extensive | Ineligible | Ineligible | Eligible | Eligible | Eligible |
LTARV Limits
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | 70% | 70% | 75% | 75% | 75% |
| Moderate | Ineligible | 70% | 75% | 75% | 75% |
| Heavy | Ineligible | 70% | 75% | 75% | 75% |
| Extensive | Ineligible | Ineligible | 70% | 70% | 70% |
LTFC Limits for Wyoming Hard Money Loans
Loan-to-Full-Cost (LTFC) limits apply to rehab scopes classified as Extensive, meaning the rehab budget exceeds the purchase price or As-Is value. For Wyoming projects with higher execution risk, LTFC limits ensure borrowers maintain significant equity, covering at least 15% of the total project cost.
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | N/A | N/A | N/A | N/A | N/A |
| Moderate | Ineligible | N/A | N/A | N/A | N/A |
| Heavy | Ineligible | N/A | N/A | N/A | N/A |
| Extensive | Ineligible | Ineligible | 85% | 90% | 90% |
Wyoming Hard Money Loan Examples
Example: No Experience
Purchase price: $100,000
Tier: 1 (no verifiable rehab experience)
Credit score: 695
Rehab budget: $24,000
ARV: $150,000
Initial advance: $75,000 (75%)
Construction holdback: $24,000
Total loan amount: $99,000
LTARV: 66%
LTFC: 79.8%
Interest accrual: Full boat
Example: No Experience, Excellent Credit
Purchase price: $100,000
Tier: 1 (no verifiable rehab experience)
Credit score: 750
Rehab budget: $24,000
ARV: $150,000
Initial advance: $80,000 (80%)
Construction holdback: $24,000
Total loan amount: $104,000
LTARV: 69.33%
LTFC: 83.9%
Interest accrual: As disbursed
Example: 5 Projects Experience
Purchase price: $100,000
Tier: 4 (5 verifiable rehab projects)
Credit score: 750
Rehab budget: $20,000
ARV: $150,000
Initial advance: $90,000 (90%)
Construction holdback: $20,000
Total loan amount: $110,000
LTARV: 73.33%
LTFC: 91.67%
Interest accrual: As disbursed
Refinancing Based on As-Is Value for Wyoming Properties
Our standard underwriting approach favors lending within your cost basis (purchase price plus sunk costs). This ensures Wyoming borrowers maintain “skin in the game” equity.
For refinance requests involving seasoned Wyoming properties with As-Is values higher than cost basis, we require:
Property must be habitable (condition rating C4 or better)
Property seasoned 3+ years
No default interest or fees on payoff statements
Minimum credit score of 680
Experience Tier 3 or higher (4+ similar rehab projects)
Strong support showing As-Is value exceeds cost basis (local comps from Wyoming neighborhoods)
Supportive scenarios such as recently vacated rental properties needing rehab before sale
Transactions Involving Wholesalers in Wyoming
If the transaction involves a wholesaler, OfferMarket can include the assignment fee or price increase in your initial advance cost basis, up to 20% of the original purchase price.
For example:
A-B Contract (owner to wholesaler): $100,000
B-C Contract (wholesaler assignment): $25,000
As-Is Value: $125,000
Value basis for initial advance: $120,000
Wholesaler transaction requirements:
Must be arm’s length
Full chain of contracts provided
No financing of finder’s or referral fees
Properties not previously listed on Wyoming MLS may be considered
Construction Holdback
The construction holdback is disbursed based on verified rehab progress through draw requests, typically supported by Wyoming contractor invoices and inspection photos.
If you prefer, and have the liquidity, you can opt out of the construction holdback and self-fund the rehab.
| Draw Processing Guideline | Wyoming Specifics |
|---|---|
| Minimum draw amount | None |
| Maximum draw amount | 100% of remaining construction holdback |
| Minimum number of draws | 0 |
| Maximum number of draws | None |
| Materials delivered but not installed | 50% (receipt or invoice required) |
| Draw inspection | App-based (self-serve) |
| Draw turnaround | 0 to 2 business days |
| Draw fee | $270 |
| Wire fee | $30 |
Wyoming Appraisal and In-House Valuation
Every OfferMarket hard money loan in Wyoming requires a valuation, which may be:
A third-party interior appraisal
A third-party exterior appraisal
An in-house valuation for qualified borrowers
In-House Valuation Eligibility
| Criteria | Requirement |
|---|---|
| Property type | Single family, Duplex, Triplex, Quadplex |
| Experience Tier | 4 or higher |
| Credit score | 720+ |
| Rural Wyoming property | No |
| New market | No |
| LTARV | 70% maximum |
Exterior Appraisals
REO sale
Foreclosure auction
Sheriff’s sale
Online auction
Bankruptcy sale
Exterior appraisals must be dated within 120 days of settlement or recertified if 120–180 days old.
Interior Appraisals
All other cases not covered above will require a full interior appraisal, with Wyoming-specific forms:
| Property Type | Appraisal Forms |
|---|---|
| Single family | 1004 + 1007 ARV with As-Is value |
| 2-4 Unit | 1025 + 216 ARV with As-Is value |
| Condo | 1073 + 1007 ARV with As-Is value |
Appraisal Transfer
Wyoming borrowers can transfer appraisals to OfferMarket if:
Ordered via approved AMC
Less than 180 days old at loan closing
Re-certified if 120 to 179 days old
Transferring lender provides signed transfer letter certifying compliance with AIR, appraisal reports (pdf & xml), and proof of payment
Stabilized Hard Money Loan
If the Wyoming property has no deferred maintenance and an appraisal condition rating of C4 or better, it qualifies as “stabilized.” In this case, we fund up to 75% of the As-Is value, reflecting a ready-to-rent or ready-to-sell property.
| Criteria | Wyoming Guideline |
|---|---|
| LTV (maximum) | Tier 1: 70% Tier 2: 70% Tier 3: 75% Tier 4: 75% Tier 5: 75% |
| LTFC (maximum) | Tier 1: 80% Tier 2: 80% Tier 3: 90% Tier 4: 90% Tier 5: 90% |
| Appraisal condition rating | C1, C2, C3, or C4 |
| Loan Term (maximum) | 12 months |
Key Loan Details for Wyoming Hard Money Loans
| Criteria | Details |
|---|---|
| Loan Amount | $25,000 to $2,000,000* |
| Units per Property | 1 – 4 |
| Eligible Property Types | Non-owner occupied 1‑4 unit residential: single-family homes, 2-4 unit multifamily, condominiums, townhomes, planned unit developments |
| Property Minimum Size | Single Family: ≥700 SQFT Condo and 2‑4 Unit: ≥500 SQFT per unit Max acreage: 5 acres |
| Loan to Cost (LTC) | Up to 90% purchase, 100% rehab |
| Loan to ARV (LTARV) | Up to 75% |
| Down Payment | Minimum $10,000 for purchase price under $100K |
| Loan Term | 12 months standard; 18-24 months available for select projects |
| Extensions | Up to 50% of original term (fees apply) |
| Points | 1.5 to 2 points ($2,000 minimum) |
| Prepayment Penalty | None |
| Occupancy | Non-owner occupied – business purpose only |
| Transaction Types | Arms-length purchase, refinance |
| Geographic Region | Wyoming only |
| Amortization | Interest-only with balloon payment at maturity |
| Interest Accrual Method | Loan Amount < $100K: full boat Loan Amount ≥ $100K: as disbursed |
Extensions
Hard money loans are designed as short-term financing, typically 12 to 24 months, with most Wyoming borrowers paying off within 12 months. Extensions should be avoided when possible, as they incur fees, add interest, and increase foreclosure risk if repayment is delayed beyond extension limits.
Avoid extensions in Wyoming by:
Using experienced general contractors familiar with Wyoming’s local codes
Avoiding overly aggressive rehab scopes relative to your experience and liquidity
Steering clear of Wyoming markets with slow permitting and zoning
Ensuring immediate access to the property (avoiding tenants with leases or difficult evictions)
Having a dual exit strategy of sale or refinance
Extension Limits
| Initial Loan Term | Maximum Extension |
|---|---|
| 12 months | 6 months |
| 18 months | 9 months |
| 24 months | 12 months |
Extension Terms and Fees
| Extension Term | Fee |
|---|---|
| 3 months (1st request) | 1% of total loan amount |
| 3 months (2nd request) | 1.5% of total loan amount |
| 6 months (1st request) | 2.5% of total loan amount |
Extension Prerequisites for Wyoming Loans
Extensions require proof of a valid builder’s risk insurance policy active throughout the extension period.
Ineligible Property Types
The following Wyoming properties are not eligible:
Mixed-use buildings
5+ unit multifamily properties
Condotels
Co-ops
Mobile or manufactured homes
Commercial properties
Cabins or log homes
Properties with oil/gas leases (common in Wyoming)
Operating farms, ranches, orchards
Vacation or seasonal rentals
Unique, exotic, or luxury properties
Properties with unpaved or dirt roads
Exception Scenarios for Wyoming
Guarantor credit scores between 660-679
Leasehold or ground rent properties
Single-family properties between 500-699 SQFT
2-4 unit properties with one or more units between 400-499 SQFT
Funding initial advance based on As-Is value higher than cost basis
Non-arms length transactions
Financed interest payment
Borrower and Guarantor Requirements
| Item | Requirements / Eligibility |
|---|---|
| Borrowing Entities | LLC or Corporation (nonprofits not eligible) |
| Eligible Borrowers | U.S. Citizens, U.S. Permanent Residents, qualified Foreign Nationals |
| Foreign Nationals | Valid passport and U.S. visa (excluding travel/student visas not on Visa Waiver Program) |
| Credit Requirements | Minimum 680 FICO (exceptions 660-679 possible) |
| Credit Report | Tri-Merge credit report not older than 120 days |
| Liquidity Requirements | Minimum estimated cash to close + 25% rehab budget in liquid assets |
| Eligible Liquid Assets | Bank accounts (personal/business), brokerage accounts, retirement accounts (50% haircut applied) |
| Verification | Two most recent statements; no seasoning required for new accounts; LOE for large deposits |
| Guaranty Structure | Purchase: at least 51% of borrowing entity guarantees; Cash-out refinance: 100% guarantee required |
| Recourse | Full recourse mandatory |
| Guarantor Net Worth | Aggregate minimum 50% of loan amount |
Credit and Background Items
If 3 credit scores returned, use middle score; if 2, use lowest
No mortgage tradelines or fewer than 5 require 6 months interest reserves
Bankruptcy must be discharged 4+ years before settlement
Foreclosure must be completed 4+ years before settlement
Bankruptcy/foreclosure 4-7 years before settlement requires 3 months interest reserves
Late mortgage payments in past 12 months require LOE and possible ineligibility
Past due balances on mortgage or non-mortgage accounts must be paid before funding
Involuntary liens or judgments (e.g., tax liens, child support) must be satisfied prior to funding
Pending civil lawsuits require LOE, subject to loan committee discretion
Pending criminal lawsuits and financial or serious crimes disqualify borrower
Repeat crimes require LOE and loan committee review
Interest Reserves
Interest reserves cover interest payments collected at closing and held in escrow, drawn down before the borrower starts monthly interest payments.
| Interest Reserve | Scenario |
|---|---|
| 0 months | Lender discretion |
| 1 month | Guarantor FICO 700+ |
| 3 months | Guarantor FICO 660–699 |
| 6 months | Guarantor FICO 660–699 and/or concerns in credit/background |
Financed Interest Payments in Wyoming
To protect borrower liquidity and credit health, interest payments can be financed—added to payoff instead of monthly payments.
Example:
Loan Amount: $100,000
Interest Rate: 12%
Months held: 9
Accrued Interest: $9,000 ($100,000 * 12% / 12 * 9)
Payoff Statement:
Principal: $100,000
Interest: $9,000
Property Sourcing Guidelines for Wyoming
New market transactions require a General Contractor agreement or Letter of Explanation for Wyoming properties
Deals with prior sale price increases, wholesale deals, or non-arm’s length transactions require extra documentation
Condo conversions and major renovations require architect or engineer letters or permits
All submissions must include purchase contracts, settlement statements, payoff letters (if applicable), borrower track record, and formation documents
Insurance Guidelines
Protect your Wyoming investment and yourself with specialized builders risk insurance, covering properties under construction, vacant, or in poor condition.
Coverage and Limits
| Coverage Type | Limit | Required |
|---|---|---|
| Dwelling | Replacement Cost or Loan Amount (no coinsurance) | Yes |
| Liability | $1M per occurrence / $2M aggregate | Yes |
| Builders Risk | Included | Yes |
| Flood | Greater of $250,000 or loan balance (if in FEMA Special Flood Hazard Area) | Conditional |
Coverage Details
| Coverage Item | Requirement |
|---|---|
| AM Best Rating | A- VIII or better |
| Policy Type | Special Form |
| Deductible | $1,000 to $5,000 |
| Lender’s Designation | Mortgagee and Additional Insured |
| Exclusions | No windstorm, hail, or named storm exclusions |
| Cancellation | 30-day notice |
💡 Pro tip: As soon as you take ownership of your Wyoming property, install smoke detectors, locks, and security cameras to meet insurance requirements and avoid denied claims.
Frequently Asked Questions About Wyoming Hard Money Loans
What states does OfferMarket fund hard money loans in?
We proudly fund hard money loans in Wyoming and most U.S. states, including:
Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, Washington DC, West Virginia, Wisconsin, and Wyoming.
Which states are excluded or have limited service?
We currently do not directly fund hard money loans in the following states or regions:
Alaska, Arizona*, Hawaii, Minnesota*, North Dakota*, Nevada*, Oregon, South Dakota*, Utah, Vermont*.
(*) In these states, where a business purpose lending license is required or we do not lend directly, OfferMarket acts as a rate shopping service and refers loans to licensed capital providers.
Can I have multiple hard money loans at once in Wyoming?
Yes, many OfferMarket clients hold several hard money loans simultaneously. However, we prioritize your risk management and will discuss liquidity or project pace concerns before approving additional loans.
Are hard money loans commercial loans?
Yes, these are business-purpose loans issued to your borrowing entity (LLC or Corporation), classifying them as commercial.
What is the minimum loan amount in Wyoming?
$25,000 is the minimum loan amount.
What property types are eligible in Wyoming?
We finance non-owner occupied 1-4 unit residential properties, including:
Single-family homes
Townhomes
Small multifamily (2-4 units)
Warrantable condominiums
How do you calculate Loan-to-Value (LTV)?
LTV most often refers to Loan-to-After-Repair Value (LTARV). The initial advance is based on the lower of the As-Is value and purchase price. LTARV equals the total loan amount (initial advance + construction holdback) divided by the after-repair value.
What are the credit requirements for Wyoming borrowers?
Minimum FICO of 680 required; exceptions considered for scores 660-680. We review credit scores of all personal guarantors.
What are the experience requirements?
Experience is not mandatory but allows for higher leverage. We verify experience through completed rehab projects with similar or greater scopes.
Does wholesaling count as experience?
No. Being a wholesaler does not count since you are not financially responsible for rehab completion.
What documentation is required for Wyoming loans?
Purchase Transaction Requirements
| Loan File Section | Required Documentation |
|---|---|
| Loan File | Purchase |
| Purchase Contract | Fully executed by buyer and seller |
| Credit Report | Soft tri-merge credit report for each borrowing entity guarantor |
| Background Report | Required for each borrowing entity guarantor |
| Track Record | Required for each borrowing entity guarantor |
| ID Verification | Government-issued ID (driver’s license, passport, Green Card) |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9 |
| Scope of Work | Detailed rehab budget used to determine ARV |
| Appraisal Report | Link provided to pay appraisal invoice; appraisal uploaded to loan file |
| Bank Statements | Two most recent statements for each guarantor; personal or business accounts accepted |
| Letter of Explanation | If requested by underwriting (e.g., large deposits, late payments, background issues) |
Refinance Transaction Requirements
| Loan File Section | Required Documentation |
|---|---|
| Loan File | Refinance |
| Settlement Statement | Fully executed by buyer and settlement agent |
| Credit Report | Soft tri-merge credit report for each borrowing entity guarantor |
| Background Report | Required for each borrowing entity guarantor |
| Track Record | Required for each borrowing entity guarantor |
| ID Verification | Government-issued ID (driver’s license, passport, Green Card) |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9 |
| Sunk Costs | Line items and costs already incurred |
| Scope of Work | Detailed rehab budget used to determine ARV and guide rehab |
| Appraisal Report | Link provided to pay appraisal invoice; appraisal uploaded to loan file |
| Bank Statements | Two most recent statements for each guarantor; personal or business accounts accepted |
| Letter of Explanation | If requested by underwriting (e.g., large deposits, late payments, background issues) |
Are there special requirements for Wyoming loans over $1 million?
Yes. Loans over $1 million (up to our $2 million maximum) have additional guidelines tailored for Wyoming investors:
| Criteria | Explanation |
|---|---|
| Experience | Minimum of 3 similar or higher-value rehab projects strongly preferred |
| Market Liquidity | At least 3 comparable sales within a 2-mile radius on the Wyoming MLS in the past 6 months |
| Credit Score | Minimum 680 FICO with at least 5 trade lines having a 24-month history |
| Rural Designation | Properties designated rural by CFPB and USDA or appraisal report are not eligible |
| Track Record | Required documentation for each borrowing entity member |
Glossary of Key Terms
| Term | Definition |
|---|---|
| ADU | Accessory Dwelling Unit: A secondary, self-contained housing unit on the same tax parcel as the main single-family home in Wyoming. |
| Arms-length | A transaction between independent parties with no special relationship, ensuring fair market value in Wyoming real estate deals. |
| Non Arms-length | A deal where personal, financial, or business connections between parties may affect pricing or terms. |
| Initial Advance | Portion of the total loan wired to the title company at closing toward purchase price in Wyoming. |
| Construction Holdback | Portion of the loan reserved for rehab costs, disbursed via draws as rehab progresses. |
| Interest Reserves | Funds collected at closing held in escrow to cover interest payments before borrower payments begin. |
| LOE | Letter of Explanation: A document clarifying financial, credit, or background items during underwriting. |
| LTC | Loan to Cost: Ratio of loan amount to total purchase price plus rehab costs. |
| LTFC | Loan to Full Cost: Ratio of loan amount to full project cost including purchase and rehab. |
| LTV | Loan to Value: Ratio of loan amount to property’s As-Is appraised value. |
| LTARV | Loan to After Repair Value (also called ARLTV): Ratio of loan amount to property’s value after rehab completion. |
| As Disbursed Interest | Interest charged only on loan funds actually disbursed (initial advance plus drawn rehab funds). |
| Full Boat Interest | Interest charged on the entire loan amount (initial advance plus total rehab budget). |
| Lopsided Deal | When As-Is value or purchase price is less than the rehab cost, requiring stricter loan limits. |
| GC Agreement | Contract with a General Contractor outlining management and execution responsibilities in Wyoming projects. |
| DSCR | Debt Service Coverage Ratio: A measure of rental income relative to debt obligations; Rent ÷ PITIA (Principal, Interest, Taxes, Insurance, Association fees). |
Instant Hard Money Loan Quote for Wyoming
Our private lending division, OfferMarket Capital LLC, is a leading private lender for Wyoming’s 1-4 unit residential investors, specializing in hard money and DSCR loans. We help you build wealth through Wyoming real estate and look forward to partnering on your next deal.
Thousands of real estate investors trust OfferMarket monthly. Membership is free and includes:
💰 Private lending ☂️ Insurance rate shopping 🏚️ Off market properties 💡 Market insights
