Investment property loans that qualify on rent.
In Wyoming, a DSCR loan finances a rental on the strength of its rent instead of your tax returns. HUD puts the 2 bedroom Fair Market Rent for the Cheyenne metro at $1,228 a month (HUD User). Pillar Mortgage Group (NMLS 2700076) arranges DSCR loans in Wyoming up to $5 million.
Facts checked November 1, 2026. Not a commitment to lend.
DSCR loans by state
We lend DSCR in 35 states. Pick yours.
Every value links to its primary source. Details for each follow further down the page.
| Wyoming fact | Value | Source |
|---|---|---|
| Security instrument | Mortgage with power of sale is used (statute addresses mortgages containing a power of sale) | law.justia.com |
| Foreclosure | Nonjudicial | W.S. 34-4-102 |
| Security deposit | No cap stated | W.S. 1-21-1208(a) |
| Notice for unpaid rent | Notice to quit served at least 3 days before starting a forcible entry and detainer action | W.S. 1-21-1003 |
| LLC formation fee | $100 Articles of Organization | sos.wyo.gov |
| Median listing price | $496,500 in September 2026 ($472,500 in September 2025) | Realtor.com via FRED |
| Median gross rent, statewide | $992 (ACS 5 year 2020 to 2024) | Census |
| HUD 2 bedroom Fair Market Rent | $1,228, The Cheyenne metro | HUD User |
Full walk through: how DSCR is calculated.
What PMG can place for a Wyoming rental, in short.
Loan amount
Up to $5M
Credit
660 and up
Down
20 to 25%
Vesting
LLC ok
Guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend. Compare with typical DSCR programs.
Rent is the number that qualifies a DSCR loan, so start with what Wyoming rentals actually command.
Median listing price
$496,500
September 2026, up 5.1% from $472,500 in September 2025
Quick math (computed from the figures above): Using the Wyoming median listing price, $496,500, a 25% down payment is $124,125 and the loan is $372,375. A year of rent at the Fair Market Rent for the Cheyenne metro ($1,228) is $14,736, or 3.0% of that price. A year of rent at the Fair Market Rent for the Casper metro ($1,045) is $12,540, or 2.5% of that price.
Fair Market Rent is a HUD benchmark, not an appraisal.
The rent field starts at the HUD 2 bedroom Fair Market Rent for the Cheyenne metro. HUD also lists the Cheyenne metro at $1,228 and the Casper metro at $1,045. Swap in your lease or appraisal rent, then add your quoted rate. For a price reference, the median Wyoming listing was $496,500 in September 2026.
See how a rental's income stacks up against its full monthly payment. Your numbers stay in your browser.
Enter rent, price and your quoted rate to see your DSCR.
Loan amount (L) = Price × (100 minus Down %) ÷ 100
P&I (30 year fixed) = L × r × (1 + r)^360 ÷ ((1 + r)^360 minus 1), where r = annual rate ÷ 100 ÷ 12
P&I (40 year interest only) = L × r
PITIA = P&I + Tax ÷ 12 + Insurance ÷ 12 + HOA
DSCR = Monthly rent ÷ PITIA
Rent needed for a target DSCR = Target × PITIA
Estimates only. Not a loan offer. Rates and terms vary by lender, property and borrower. Company NMLS #2700076. Example values are illustrations, not a quote.
Hypothetical PITIA of $1,775 (P&I $1,400, taxes $250, insurance $125), real Wyoming rents. Not a quote or a rate.
0.69DSCR
$1,228 / $1,775 = 0.69: fits programs down to 0.50.
0.59DSCR
$1,045 / $1,775 = 0.59: fits programs down to 0.50.
Share the deal and we will run the ratio, compare lenders and lay out your options in plain numbers.
Investors from any state can buy in Wyoming.
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These Wyoming statutes set the ground rules for every lease you sign on a financed rental.
| Topic | The rule | Citation |
|---|---|---|
| Security deposit | No cap stated. Return deadline: Within 30 days after termination, or 15 days after receiving the renter's new mailing address, whichever is later. Extended by 30 days if there is damage. | W.S. 1-21-1208(a) |
| Nonpayment notice | Notice to quit served at least 3 days before starting a forcible entry and detainer action | W.S. 1-21-1003 |
| Nonrefundable deposits | Any rental agreement must state whether any part of a deposit is nonrefundable, and the renter must also get written notice of that when the deposit is collected. | W.S. 1-21-1207 |
| Property left behind | If a renter leaves valuable property after the lease ends, the owner must serve written notice describing it and hold it at least 7 days after service before keeping or disposing of it, and may recover reasonable storage and moving costs before the renter takes it back. | W.S. 1-21-1210 |
Not legal advice.
Taxes go straight into PITIA, so they move your ratio. Budget for the investor rate, since rentals usually do not get homestead treatment.
What to expect at the closing table in Wyoming, from the instrument you sign to the taxes on transfer.
What it costs to form and keep an LLC in good standing with the Wyoming Secretary of State.
Check each of these on any Wyoming rental you plan to finance.
Documents: contract, lease or rent schedule, bank statements, LLC papers, insurance quote. No tax returns. Details.
Wyoming is highlighted. We also lend DSCR in Colorado, Montana and Kansas next door, and in 30 more states. Tap a gold state to open its guide.
Straight answers for investors buying or refinancing rentals in Wyoming.
PMG guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend.
Book a free callInvesting across state lines? We lend DSCR in these neighbors of Wyoming too.
Primary sources, each with the date checked. PMG program facts come from Pillar Mortgage Group.
Send the Wyoming property and rent. We run the ratio and lay out terms before you offer.
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Pillar Mortgage Group, LLC is an Equal Housing Lender, doing business in accordance with the Fair Housing Act and Equal Credit Opportunity Act. Not a commitment to lend.
Company NMLS# 2700076 | Arizona License MB-2009671 | View NMLS Consumer Access