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Multifamily Loans in
Cheyenne, WY

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Overview

Cheyenne is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Cheyenne are considered greater risk due to market dynamics. Interest rates for multifamily loans in Cheyenne are higher than the national average. Cheyenne apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Cheyenne.

For 2-4 unit multifamily loans in Cheyenne, 2021 conforming loan limits are $702,000 for a duplex, $848,500 for a triplex and $1,054,500 for a fourplex.

Get multifamily loan quotes for Oct 15, 2021


Multifamily Loan Rates in Cheyenne, WY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cheyenne are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.73% - 3.97%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 2.92% - 3.17%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 10/14/2021. This is not an offer or commitment to lend. Multifamily loan rates in Cheyenne may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Oct 15, 2021


Multifamily Lenders in Cheyenne, WY

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Cheyenne.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Oct 15, 2021


Cheyenne Market

The city of Cheyenne in Laramie County has a population of 64,235. The median rent in Laramie County for a 2 bedroom is $945. The median Cheyenne resident is 37 years old with a yearly income of $35,481. The average family has 2.91 members and a median household income of $64,598. Cheyenne has a 30% higher education rate. The unemployment rate in Cheyenne is 5.4%.


Population
64,235 people

County
Laramie County

Renters

34.1% of Cheyenne households are renters.


Rent Burden

27.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Laramie County 1
Wyoming 2
National 2
Studio $737 $682 $737
1 bedroom $742 $718 $813
2 bedroom $945 $896 $1,015
3 bedroom $1,352 $1,212 $1,325
4 bedroom $1,636 $1,504 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cheyenne Demographics


Median Individual Income
$35,481 / year

Median Household Income
$64,598 / year

Families w/ Dual Incomes
57%

Unemployment Rate
5.4%
Household Income Distribution
Cheyenne, WY

Median Age
37 years

Avg Family Size
2.91 people
Age Distribution
Cheyenne, WY

College Education or Above
30%

STEM College Graduates
41%
Education Distribution
Cheyenne, WY
Source: U.S. Census Bureau

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