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Investment property loans · Spokane County, WA

Hard money, fix and flip and DSCR loans in Spokane, WA

Spokane is the most populous city in eastern Washington, and investors buy older houses there to rent or renovate, from the South Hill to the student rentals around Gonzaga University and the old railroad town of Hillyard. Washington's state rent rules and excise tax apply here too, and a rehab on a house you won't live in starts with an asbestos survey.

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Where investors buy

Neighborhoods investors look at in Spokane

Spokane built quickly after its 1889 downtown fire, until growth stalled in the 1910s. Early 20th-century neighborhoods such as West Central, Logan, Hillyard and the lower South Hill have many Craftsman bungalows, Browne's Addition has mansions in Queen Anne and early Craftsman styles, and minimal traditional bungalows from the 1930s to the 1950s predominate in North Hill, Bemiss and the Northwest neighborhood.
Browne's AdditionSpokane's first neighborhood, directly west of downtown, where many historic mansions were converted into apartments.
South HillThe neighborhoods on the hill south of downtown, including Manito Park, a 90-acre park on the National Register of Historic Places, with many Craftsman bungalows on the lower South Hill.
LoganHome to Gonzaga University, northeast of downtown on the north side of the Spokane River, where the growing student body has spread into off-campus rental housing and about 70 percent of households rented in 2017.
West Central and Kendall YardsWest of downtown above the Spokane River gorge, where 76 percent of the residential properties in the Nettleton's Addition Historic District were built between 1900 and 1912, next to Kendall Yards, a mixed-use development on a former rail yard.
HillyardA former Great Northern Railway town in northeast Spokane, annexed by the city in 1924, where many houses were built for railroad workers between 1904 and 1912 and the Market Street business district is on the National Register of Historic Places.

Loan programs

Loans for Spokane real estate investors

Pick the loan that fits the deal: short-term money to buy, renovate or build, or a long-term loan to hold the property. Published limits are subject to appraisal and underwriting.
Long-term

DSCR rental loans in Spokane

30-year loans for Spokane rentals of 1–4 units, fixed or adjustable, qualified on the rent with no personal income verification: up to 85% of the price on a purchase, with loans from $75,000.

Purchase LTV up to85%
Term30 years
Income docsNot required
Loans from$75K

Subject to appraisal and underwriting.

DSCR loans: terms and requirements
Short-term

Fix and flip loans in Spokane

Buy and renovate in Spokane with up to 95% of the price and 100% of the rehab budget, on a 12–18 months interest-only loan with no prepayment penalty when the house sells.

Purchase price up to95%
Rehab funded up to100%
Term12–18 months
Prepayment penaltyNone

Subject to appraisal and underwriting.

Fix and flip loans: terms and requirements
Short-term

Bridge loans in Spokane

Close quickly on a Spokane property with up to 95% of the cost financed and a 12–18 months interest-only term, then sell it or refinance onto a long-term loan. No prepayment penalty.

Leverage up to95% LTC
Term12–18 months
PaymentsInterest only
Prepayment penaltyNone

Subject to appraisal and underwriting.

Bridge loans: terms and requirements
Short-term

Ground-up construction loans in Spokane

Financing for new builds in Spokane, from spec homes built to sell to rentals built to hold. Every project is quoted on its plans, budget and builder.

Quoted on your deal.

Construction loans: get a quote
Long-term

Multifamily and commercial loans in Spokane

Financing for Spokane apartment buildings of five units or more, mixed-use and commercial property, quoted on the building's income.

Quoted on your deal.

Multifamily and commercial: get a quote

Good to know

Before you buy in Spokane

Local rules and costs that change a deal's numbers or closing date in Spokane and Spokane County. Sources are listed at the bottom of the page.
  • Get an asbestos survey from an AHERA-certified building inspector before renovating or demolishing. A house you won't live in doesn't get the relief for owner-occupied, single-family homes; in a renovation, removing 10 or more linear feet or 48 or more square feet of asbestos needs a notice to Spokane Regional Clean Air Agency first, and every demolition needs one at least 10 days ahead.
  • Budget for real estate excise tax at resale: Washington's graduated state rate plus the City of Spokane's 0.5% local rate.

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Have a Spokane property in mind?

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United Lending LLC offers business-purpose financing secured by non-owner-occupied investment real estate. We do not offer loans for personal, family or household purposes, or loans on owner-occupied primary residences.

Questions

Loans in Spokane: common questions

Do you offer hard money loans in Spokane?

Yes. United Lending LLC offers private real estate financing for investors in Spokane and the rest of Spokane County: fix and flip and bridge loans sized on the deal, and DSCR rental loans sized on the rent. We're headquartered in Brooklyn, New York, and lend nationwide.

Do you offer DSCR loans in Spokane?

Yes. Our DSCR loans are 30-year loans on 1–4 unit rentals, fixed or adjustable, qualified on the property's rent against its monthly payment with no personal income verification, up to 85% loan-to-value on a purchase and loans from $75,000. Investors use them for rentals in Browne's Addition, South Hill and Logan, among other parts of Spokane.

How much can I borrow for a Spokane flip?

Up to 95% of the purchase price and up to 100% of the rehab budget, on a 12–18 months interest-only loan. Those are maximums, subject to appraisal and underwriting: the property, your experience and the comps set what your loan gets.

Is there a prepayment penalty on a loan in Spokane?

There's no prepayment penalty on fix and flip or bridge loans. DSCR rental loans come with a choice of prepayment terms, from none up to five years, set out in your written terms before you commit.

Do I need to live in Spokane or have a Washington LLC?

No. You can borrow in your own name or through an LLC, wherever you live; many of our borrowers invest outside their home state. If your LLC was formed outside Washington, your loan officer will tell you what's needed before closing.

Washington

More places we lend in Washington

Sources (9)Checked November 10, 2026

United Lending's loan terms are its published program limits. The local rules and costs on this page come from the public sources below, checked on the date shown; confirm them with the city, county or your closing attorney before you rely on them.

  1. Spokane Regional Clean Air Agency: Renovation and demolition projects (asbestos)
  2. Washington Department of Revenue: Real estate excise tax
  3. Washington Department of Revenue: Local real estate excise tax rates, effective May 1, 2026 (PDF)
  4. Wikipedia: Spokane, Washington
  5. Wikipedia: Browne's Addition, Spokane
  6. Wikipedia: Manito Park
  7. Wikipedia: Logan, Spokane
  8. Wikipedia: West Central, Spokane
  9. Wikipedia: Hillyard, Spokane