Cheyenne’s construction market serves two very different buyer profiles, and both benefit directly from One-Time Close financing. The first is the F.E. Warren military family — a service member with VA entitlement, BAH that covers a significant portion of a Cheyenne-area mortgage payment, and a desire to build near the base rather than compete for thin resale inventory in the west-side neighborhoods closest to the main gate. VA One-Time Close Construction loans are the right program for this buyer: zero down payment, no PMI, rate locked before construction begins, and a single closing that eliminates the two-step cost and rate-reset risk of traditional construction financing.
The second profile is the civilian buyer choosing acreage over in-city living. Laramie County’s rural-residential development corridor is active: Ironhorse, a new luxury subdivision west of Cheyenne, offers five-plus-acre estate lots designed for custom construction. Crown S Ranch, Lonesome Dove Ranches, and Yellowstone Estates provide similar acreage opportunities at varying price points and distances from town. For these buyers, building custom on their own land is the path to the Wyoming lifestyle they relocated for — and One-Time Close locks their rate before a shovel hits the ground on a 12–18 month build.
Ryan Lehrman, NMLS #235295, structures One-Time Close Construction loans across VA, conventional, Jumbo, and physician tiers for Cheyenne and Laramie County buyers.
One-Time Close Construction replaces the traditional two-step process with a single transaction:
Phase 1 — Close Once: One loan, one set of closing costs, one rate lock before construction begins.
Phase 2 — Construction Period: Funds disbursed in draws to your contractor as milestones are reached. Interest-only payments during the build.
Phase 3 — Permanent Conversion: The loan converts automatically to permanent financing when the certificate of occupancy is issued. No second closing, no refinance, no rate reset.
Key Features:
Single close and rate lock before construction starts
Interest-only payments during the build period
Automatic conversion to permanent financing at completion
VA, conventional, Jumbo, and physician configurations available
Available for primary residences on fee-simple lots throughout Laramie County
For active-duty and veteran borrowers at F.E. Warren AFB and throughout the Cheyenne area. Zero down payment, no PMI, competitive VA rates — all locked before construction begins. F.E. Warren is slated to be the first base to receive the new LGM-35A Sentinel ICBM, making it a long-term installation with a stable military population well-suited for homeownership over renting.
For buyers purchasing in-city or on Laramie County acreage within the standard $832,750 conforming limit. Down payments from 5%–20% depending on program and property type.
For estate-scale builds in Ironhorse, Crown S Ranch, and large-acreage parcels throughout southeastern Wyoming where the total project cost — land plus construction — exceeds the conforming limit.
For CRMC physicians and other eligible healthcare professionals building rather than buying. Physician loan benefits — no PMI, student loan accommodation — applied to a construction-to-permanent framework.
Cheyenne’s construction corridor is concentrated in two areas. South Cheyenne — specifically the Saddle Ridge and Buffalo Ridge neighborhoods — is the city’s fastest-growing residential zone, with 14 active builders and a mix of production and semi-custom construction drawing F.E. Warren families and Colorado transplants. Whitney Ranch is among the established planned communities in this corridor with builder programs in place.
Laramie County’s rural-residential tier is more oriented toward custom builds on acreage: Ironhorse (luxury 5+ acre estate lots, west of Cheyenne), Crown S Ranch (5+ acre lots, close-in rural), Lonesome Dove Ranches (5+ acre parcels, open Wyoming landscape), and Yellowstone Estates (view lots designed for custom builds). These communities serve buyers who want land, privacy, and room to build to their specifications rather than a production floor plan.
VA One-Time Close expertise for F.E. Warren families — the only zero-down construction option that locks rate before breaking ground
Conventional, Jumbo, and physician One-Time Close programs for Laramie County acreage buyers
Rate locked before construction begins — eliminates market risk on 12–18 month Wyoming build timelines
Experience coordinating draws, builder approvals, and certificate of occupancy timelines in Laramie County
Wyoming no-income-tax context built into every consultation
NMLS #235295
VA: Active duty, veteran, or eligible surviving spouse with remaining entitlement; must intend to occupy as primary residence; builder must be VA-approved
Conventional: Primary residence on fee-simple lot; builder licensed and insured; down payment from 5%–20% of total project cost
Jumbo: Total project cost above $832,750; 20%+ down payment of total project cost typical; full income documentation standard
Physician: Eligible professional designation with offer letter or active employment; available in conventional and Jumbo configurations
Consultation — Review your lot, program type (VA, conventional, Jumbo, or physician), construction budget, and build timeline
Builder Approval — Your general contractor submits credentials and licensing. VA builds require a VA-approved builder; conventional and Jumbo builds require a licensed, insured contractor.
Appraisal — A "subject to completion" appraisal values the finished property from plans and specs. Sets the loan amount before construction begins.
Close — Single closing locks your rate and establishes the draw schedule with your builder.
Build and Convert— Interest-only payments during construction. Draws released at milestones. Automatic conversion to permanent financing at certificate of occupancy.
Yes. VA-eligible borrowers at F.E. Warren — active duty, veterans, and eligible surviving spouses — can use VA One-Time Close Construction loans to build in Cheyenne with zero down payment and no PMI. The rate is locked before construction begins, eliminating the risk of rates moving during the build. VA One-Time Close is one of the most powerful homeownership tools available to military families in a market as affordable as Cheyenne.
Yes. For conventional and Jumbo programs, existing lot equity counts toward the down payment requirement. If you've already purchased land in Ironhorse, Crown S Ranch, or elsewhere in Laramie County, that equity is factored into the LTV calculation and typically satisfies the down payment requirement for the construction loan.
Most custom builds in Laramie County run 10–18 months from groundbreaking to certificate of occupancy, depending on lot type, builder, and seasonal factors. Wyoming winters affect exterior work timelines, particularly for foundation and framing phases. The rate lock in a One-Time Close loan spans the entire construction period, so build timeline doesn't create rate risk for the borrower.
Yes. Physicians, dentists, and other eligible professionals at CRMC or other Laramie County healthcare employers can access One-Time Close Construction loans with physician-specific terms — no PMI, student loan accommodation, and employment offer letters accepted. Both conventional and Jumbo configurations are available depending on total project cost.
Building your new home in Cheyenne starts here. Let’s talk through your builder, your site, and your timeline.
Originally from Harrisburg, Pennsylvania, I moved to Phoenix to attend Arizona State University and have proudly called Phoenix home ever since.
My journey into the mortgage industry began with a friend’s encouragement, who saw how my energy and people-first mindset could make a difference. He was right — I found my calling.
I’ve always embraced what makes me different. With ADHD as my secret weapon, I thrive in fast-paced, detail-heavy environments. I’ve built my career on clear communication, creative problem-solving, and putting clients first, always.
Outside of work, my greatest motivation is my wife and three amazing kids. I’d be honored to help guide you through your lending journey with care, clarity, and commitment.
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