7 Best Hard Money Lenders in Wyoming


Hard money lenders in Wyoming are available to provide real estate loans for investors.

Key Terms

  • A hard money loan is an investment opportunity designed to help fix and flip, short and long-term rental property and other commercial real estate developers.
  • If you are looking for a short-term loan type, most hard money lenders offer that in the way of 1 to 5 year terms.
  • A key advantage to the best hard money loans is that they are based on the after repair value of the property, which can open doors for investors in some projects.

Wyoming is the least populous state in the country, with about 575,000 people calling it home. It is a Mountain West state bordering Idaho, Montana, South Dakota, Utah, and Colorado. While it is small in population, it is the 10th largest state by land size. Much of the state is very rural, thanks to the Rocky Mountain terrain that runs through the state. It does have beautiful, open prairies and a wide range of natural parks. That includes Yellowstone and Grand Teton. There’s quite a bit that Wyoming has to offer, including outstanding quality of life and a competitive cost of living. Its economy is versatile, based on agriculture, coal, natural gas, and transportation. There is a solid tourism industry here, thanks to the national parks that call it home.

As rural as it is, the cost of living here is not as low as in some other states. In some areas, such as Cheyenne, Casper, and Gillette, home values are much higher than what many would expect. It is common for property here to be larger and more expansive than found in a traditional suburban community, but there are numerous neighborhoods and smaller, urban areas here as well. The average purchase price of a home in Wyoming is $370,000, according to recent Wyoming news sources. The Wyoming real estate market has benefited from growth, low inventory, and very low mortgage rates.

Wyoming is also a state where most people own their homes. The U.S. Census Bureau data shows that 73.8 percent of people own their homes in Wyoming, and 26.2 percent rent them. That’s a very high percentage of homeownership compared to other states. There is about 6 percent of rentals vacant as well, which is a rather high number. Yet, without the density and the demand for housing, this is not unexpected.

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How hard money loans work

For many people looking to purchase investment property in Wyoming, that starts with a hard money loan, a type of asset-backed loan that is provided by private investors rather than traditional mortgage brokers like banks or government-backed loans. Wyoming hard money lenders are either individuals or a group of investors who pool their assets together to lend to borrowers who take on these bigger and more risky investments. There’s risk here, which is why the value of the loan is backed by the property itself, allowing the lender to force the sale of the property to get back some of its investment.

Hard money loans in Wyoming are very different than traditional mortgages. First, they are meant for investment property. This could include property types that are purchased in poor condition, upgraded, modernized, and expanded as needed, and then resold. They can also work as bridge loans for real estate purchases for future development. They can be used for the purchase of rental income properties in some areas of the state. Commercial real estate developers who wish to preserve their own finances can use the loans from hard money lenders in Wyoming to secure their property.

Most hard money loans are short term, requiring refinancing or payment in full within 5 years. Because these properties are often fix and flip properties, that is typically not a problem. It also helps to defray some of the costs since these loans tend to have interest rates that range from 8 to 15 years. Still, most investors seeking these loans are unable to obtain a traditional loan from a bank for their property. That makes these loans highly valuable overall.

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7 Top Wyoming hard money lenders

If you’re ready to learn more about the best hard money lenders in Wyoming, here are the top options we’ve found through our research.

1. New Silver

New Silver started in 2019 by Kirill Bensenoff and Alex Shvayetsky. They offer a variety of private money lending products like fix and flip, rental, ground up and personal loans.

We contacted New Silver Lending to learn more about their private lending business and here are some of the highlights:

  • Origination fee from 1.875%
  • Loan to cost up to 90%
  • 100% construction financing available
  • Loan to ARV up to 80%
  • Terms are typically 24 months
  • Loan amounts are from $100,000 to $5 million
  • Minimum FICO score is 650
  • No hard credit pull required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

2. Lima One Capital

Lima One Capital is based in Greenville, South Carolina and founded by former Marines. They lend throughout the United States and offer typical private money lending products like Fix and Flip, bridge loans, construction loans, rental loans and multi-family loans.

We contacted Lima One Capital to learn more about their private lending business and here are some of the highlights:

  • For Fix and Flip loans, up to 90% LTC and 70% LTV for loans from $75K to $3 million
  • 12, 19 and 24-month terms available
  • Interest only loans
  • For Fix and Rent loans, can finance single properties or portfolio loans with 5, 10, 30-year term options available
  • For rental property, can fund loans from $75K to $1 million up to 80% LTV on purchases and refinances.

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

3. Easy Street Capital

East Street Capital is based in Austin, Texas but lends nationwide except in North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital has over six years of experience in the real estate investing world.

We reached out to Easy Street Capital to learn more about their hard money loans and this is what we found:

  • Interest rates range from 6.9% – 10.9%
  • Points range from 2-3
  • There is a $1495 document fee
  • No minimum credit score required
  • Down payments of at least 10% required
  • Renovation financing ok
  • Fix and Flip loans do not typically have prepayment penalties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

4. EquityMax

EquityMax is based out of Florida and most of its business in the state but is able to lend throughout the United States. Founded by Brad Emmer in 1990, EquityMax has decades of experience as a hard money lender.

We reached out to EquityMax to learn more about their hard money loans and these are the key highlights that you need to know:

  • Single Family Homes
  • 1-4 Multi-Unit Properties
  • Condos and Townhomes ok
  • Commercial property and Industrial Warehouses OK
  • Direct lender that has decision making over financing deals.
  • Can originate loans to individuals, LLCs, corporations, land trusts and self-directed IRAs.
  • No prepayment penalties
  • No minimum credit score required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

5. LendSimpli

LendSimpli is a private money lender based in Tampa, Florida. They can lend nationally in most states but may not be able to lend if the property is in a rural area. Founded by Brenden Crampton and Matthew Davies in 2018, they have nearly four years of experience in the private lending real estate investing market.

We reached out to LendSimpli to get more details about their bridge loan product and this is what we found:

  • Loan amounts up to $5 million for 1-4 unit properties
  • Loan amounts up to $20 million for 5+ unit properties
  • Single family (1-4 units)
  • Multifamily (5-20 units)
  • No owner-occupied properties
  • Loan terms 12-24 months
  • Interest-only payments with rates starting at 8.50%
  • Max LTC is 90% of project costs
  • Minimum credit score is 660
  • Prefer that you have at least two transactions in the past three years

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

6. Stratton Equities

Stratton Equities is a nationwide direct hard money lender for real estate investors. Founded by Michael Mikhail in 2017, Stratton Equities has over five years of experience in the private lending market.

We reached out to Stratton Equities to get more information about their hard money lending program and here are some highlights:

  • Loan amounts from $100,000 up to $5 million
  • Investment properties only
  • Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial and Warehouse are all ok
  • Up to a 75% LTV
  • Rates start at 7.25%
  • Interest only payments
  • Loan terms are 9-24 months
  • Foreign nationals are eligible
  • No prepayment penalty option is available

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

7. HouseMax Funding

HouseMax Funding is based out of Austin, Texas but has a national footprint when it comes to real estate industry lending. Started by Jeff Fetcher and Alex Morris, HouseMax provides asset-based loan financing to investors for real estate transactions.

We reached out to HouseMax to learn more about their hard money lending program and here is what we found:

  • Minimum loan amount is $75,000
  • Lends up to 75% of the after-repair value (APV)
  • 1-3 points origination fee
  • 3 months reserves required
  • Direct lender that approves loans internally and funds using their own private capital.
  • Lends in urban and suburban communities in all 50 states.
  • Goal is to close loans in 10 days or less.
  • Specializes in fix & flip loans, ground-up construction and rental loans
  • Multi-family and commercial properties are ok

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

What are the main advantages of a Wyoming hard money loan?

Wyoming hard money loans are very different from a traditional mortgage backed by the federal government. They are backed by private investors who set the terms and conditions for each loan, including the interest rate charged, eligibility requirements, and other costs. As such, these loans have far less federal regulatory scrutiny. That creates more risk, but it also allows borrowers who are looking for access to funds for an investment project to secure them.

Most Wyoming hard money lenders will base the value of the property on the after repair value rather than on the current condition of the home. That’s key since the value may be very low, thanks to the poor condition of these properties and the number of upgrades needed. That makes them significantly more desirable than traditional loans that do not offer this benefit.

Hard money loans have a higher interest rate, but the shorter term can be a good way to keep costs more in line with your goals and expectations. Hard money lenders may offer more funding and flexibility for borrowers, too. This may mean that the home can close faster than it would with a traditional bank loan.

Hard money lenders set eligibility requirements for these loans. Those terms and conditions may range widely compared to traditional loans. Credit scores are a factor, but some lenders may accept a high down payment in lieu of a high credit score, and the opposite may be the case as well. Borrowers may also want to consider eligibility requirements related to past experience managing investment properties, as this can change from one lender to the next. That’s the other key advantage – each lender sets its own terms, which means borrowers can consider several before investing.

If you’re looking to explore hard money in other states, check out our national overview of hard money lenders as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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