Hard Money Lenders in Cheyenne, WY | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inCheyenne, Wyoming

Fix and flip, DSCR rental and new construction financing for Cheyenne investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.

Get a term sheet →Price a Cheyenne deal

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO, September 2026

Price a Cheyenne deal right now

Prefilled with a realistic Cheyenne deal. Change any number and it reprices on the programs that lend in Wyoming, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

Financing a deal in Cheyenne

Cheyenne is a government, rail and Air Force town, and that mix keeps resale steadier than its size suggests. The state capitol, F.E. Warren, the Union Pacific yard and a growing data center corridor all put people in houses here. The flip stock is the older brick and frame housing in the Avenues, around downtown and across South Cheyenne, while the north side is mostly newer tract homes that rarely need a full rehab.

What decides a Cheyenne deal is the weather file, not the kitchen. The wind here is relentless and the hail season is real, so shingles, siding and windows take a beating and buyers' inspectors know it. A lot of the south side ranches have full or partial basements, and on the clay east and south of downtown that means seepage, heaving slabs and bowed block walls. Price the envelope and the basement first. The cosmetic scope is usually the easy part.

What a Cheyenne deal looks like on paper

Cheyenne example: $205,000 purchase, $45,000 rehab, $330,000 after repair value, 700 credit, 4+ completed flips. The engine puts that borrower on the 7.5% Down, 3+ Flips program at 9.99%. Picture a 1950s brick ranch south of Lincolnway: new roof after hail, a furnace, a kitchen, and a basement that finally stays dry. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$231,250
Cash to close$34,779
Proof of funds to show$59,830
Where the $34,779 goes
  • Down payment (7.5% of purchase plus rehab)You$18,750
  • Origination (1.63%)Lender$3,758
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$2,313
  • Title and closing (estimate at Texas rates)Title$3,478
  • Prepaid interest (15 days)Lender$765
  • Property insuranceInsurer$2,375
  • AppraisalAppraiser$550

Interest while you rehab: $1,551 a month on the $186,250 funded at closing, $1,925 once every draw is out. Proof of funds is cash to close plus $13,500 of rehab reserve and $11,551 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Fix and flip programs in Cheyenne

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Experienced Investor Rate115% of purchase680+2+ completed flips9.00%0.75%75% of ARV12-24 months7-14 days
First Flip, 10% Down210% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips37.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips45% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips50% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
  1. Rate and origination are the program floor; two completed projects in the last 36 months preferred.
  2. Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  3. Rate 9.99% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  4. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  5. Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Where Cheyenne prices sit right now

Before we price a Cheyenne flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.

Redfin puts the Cheyenne median sale price at $395,000 for the three months ending August 2026, up 5.4% from a year earlier, with homes selling after 20 days on the market on average.

Median sale price, Cheyenne (Redfin, 3 months to Aug 2026)$395,000
Change from a year earlier (Redfin)+5.4%
Average days on market, Cheyenne (Redfin)20

Sources: Redfin, Cheyenne housing market

How a Cheyenne file actually gets priced

Cheyenne comps cleanly inside a neighborhood and badly across town. A renovated ranch in Sun Valley doesn't appraise off a Western Hills sale, and nothing south of the tracks borrows value from the Avenues. We comp inside the same subdivision and the same side of Lincolnway, stick to recent closings, and give the basement its own look: finished square footage below grade counts for less than the listing sheet implies, and an appraiser will note any sign of water.

Dry Creek and Crow Creek run through town, and Cheyenne still remembers the 1985 flash flood that turned streets into rivers, so pull the floodplain map on anything near either channel. Wyoming sits in high radon territory and a buyer's inspector will usually test for it, so a mitigation system is a cheap line to budget up front. Expansive clay shows up in cracked slabs and racked door frames. Permits run through the city's building division, and exterior work inside the downtown historic districts gets extra review.

Who buys your finished Cheyenne deal

The Cheyenne buyer is often military, state employed or a rail family, and a lot of them use VA or FHA financing, so the finished house has to pass a stricter inspection than a cash sale. That buyer pays for a sound roof, a dry basement and working mechanicals more than for designer finishes. New construction on the north and east edges competes above the middle of the market, so the cleanest flips stay near or under the city median. Rents hold up near the base and the capitol, which makes a DSCR refinance a real second exit.

What happens after you apply

Apply once and the whole Cheyenne loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Cheyenne

Fix and flip

10%down on a first flip
Rates
from 9.00% at 680+ credit with 2+ completed flips
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Wyoming →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Wyoming →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Wyoming →

Where we lend in Cheyenne

We broker deals across the whole Cheyenne market. The submarkets investors ask us about most are The Avenues and Capitol North (82001), South Cheyenne (82007), Sun Valley (82007), Western Hills (82009), Downtown and Historic Cheyenne (82001) and Buffalo Ridge and the north side (82009).

How long does a Cheyenne loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Wyoming, and the rate, origination, leverage and cash to close come back side by side. Plan on 7-14 days with completed flips and 21-30 days on a first flip. We stay on title and the lender through funding.

Cheyenne hard money FAQ

Do you lend hard money in Cheyenne?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Cheyenne scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in Wyoming, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Cheyenne?
As of October 2026: Experienced Investor Rate (15% down, from 9.00%, 2+ completed flips); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can a Cheyenne hard money loan close?
In Wyoming, once the file is complete, the programs for investors with completed flips close in 7-14 days (10-14 on 5% down with 5+ flips, 21-30 on 7.5% down with 3+ flips) and a first flip on the 10% down program closes in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on a Cheyenne flip?
The worked example on this page is a $205,000 Cheyenne purchase with a $45,000 rehab and a $330,000 after repair value at 700 credit, 4+ completed flips: $18,750 down (7.5% of purchase plus rehab) and $34,779 total cash to close, with $59,830 of proof of funds to show the lender. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in Cheyenne?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for a Cheyenne fix and flip loan?
The lowest credit floor among the Cheyenne programs is 620, on 100% financing (under 70% of ARV) with 2+ completed flips. A first flip needs 660 or higher. The lowest rate here, 9.00%, needs 680+ credit and 2+ completed flips. Depending on the program, origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance a Cheyenne flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Cheyenne flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Can I get a first-flip loan in Cheyenne?
Yes. In Wyoming a first flip can be priced at 10% down with 660+ credit (from 9.99%). Programs that need completed flips: 15% down from 9.00% with 2+ flips; 7.5% down from 9.99% with 3+ flips; 5% down from 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV. The worked example on this page assumes an investor with a few deals behind them; set the calculator to “This is my first” to see a Cheyenne first flip.
How much should I budget for hail and wind damage on a Cheyenne flip?
Plan for it rather than hoping. On most older Cheyenne houses the roof is either near the end of its life or already carries hail damage, and the buyer's inspector and insurer both look hard at it. We'd rather see a roof line in the rehab budget than find it as a repair condition at the exit, and siding and window repairs often come along with it.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.

What to read before you sign a term sheet

Hard money near Cheyenne: Casper and Fort Collins. More Wyoming city guides: Gillette, Jackson, Laramie and Rock Springs. Or see everything we fund in Wyoming.

Ready to fund your Cheyenne deal?

Submit your scenario in about 5 minutes. We shop it and come back with real terms, not a generic rate sheet.

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