Wyoming Construction Lenders for Residential Properties
Are you building a residential investment property in Wyoming? On this page you'll find a list of private construction lenders for ground-up projects throughout Wyoming's urban areas. The maximum loan-to-completed value (LTCV) for most lenders in Wyoming is 70%. You typically need to contribute 20%-25% of the project costs and have some cash reserves. Development experience is almost always required. Most lenders will require the project to be fully entitled and shovel ready. A small percentage of lenders will consider land acquisition and/or horizontal financing. The lenders listed here can fund a single home build, or a development with multiple homes. We have a separate page for lenders that offer ground-up construction financing for commercial properties.Searching...
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Center Street Lending
Smarter Loans for Residential Investors
Lima One Capital
The Nation's Premier Lender for Real Estate Investors
RCN Capital
Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans
Old North Capital Fund, LLC
True asset-based financing | No credit check, No appraisals, No prepay
HouseMax Funding
Hard Money Loans to Fund Your Next Big Project
LendingOne
Rental, Fix & Flip, New Construction, Fix to Rent, SFR Portfolio Loans Nationwide
Funded Residential Construction Loans in Wyoming
RCN Capital, a national direct private lender, funded a $351,653 1st lien position ground-up construction loan for a residential investment property in Cheyenne, Wyoming. We provided 75% of the total project costs. The Borrower had already purchased the property for $155,000. We provided an initial advance of $129,000 which included a payoff of the previous lien and closing costs. In addition, we funded 100% of the $222,800 construction budget. The property had an existing single-family residence, and the plan was to build a duplex on the lot with an end goal of having 3 units on the property. The completed value was estimated at $630,000 so our loan-to-completed value was 55%. All necessary due diligence was in place: survey, environmental review, CFSI contractor review, and CFSI feasibility study. The Borrower had completed 3 ground-up projects recently which qualified them for a higher loan-to-cost. They had a mid-FICO score of 719 and sufficient liquidity. The structure of the loan resulted in a solid return on investment of 34.37% for the Builder. They plan to refinance into a long-term rental loan upon completion. The interest rate was 11.99%, and we charged 2% origination points. The loan term was set at 24 months. This ground-up construction loan was funded in July 2023.
