Washington rehab investors face high prices west of the Cascades and lower, steadier markets to the east. Seattle, Tacoma, Everett and Vancouver projects often run well into six figures of rehab, while Spokane, the Tri-Cities and Yakima offer more modest entry prices.
In short: LendingStreet is our top pick for Washington investors who would otherwise use local hard money. We lend $150,000 to $5M+ on 1-8 unit investment property, up to 90% of cost and up to 100% of rehab on some programs, with closings in as little as 10 days and rates from 7.99%. Larger Puget Sound projects fit our loan range, and our DSCR loan can refinance the rentals you keep.
On a $500,000 Puget Sound project, the gap between 75% and 90% of cost is a lot of cash. LendingStreet funds up to 90% of cost on some programs, closes fast and has room for larger balances.
Have a Washington property under contract? Get a quote with the form below or call (877) 298-1001.
Investors searching for hard money lenders often compare national names like CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Washington. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| Bridge close in about 10 days | LendingStreet | We can close in as little as 10 days. CoreVest states its bridge loans typically close within 2 to 4 weeks. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Washington has local hard money lenders, private lenders and banks that lend to investors. Here is how they usually compare for a rehab.
| What matters on a rehab | LendingStreet | Typical local hard money | Private money | Typical bank |
|---|---|---|---|---|
| Close quickly on a good deal | As little as 10 days | Often fast | Fast if funds are ready | Often slow |
| Fund the rehab | Up to 100% of rehab on some programs | Varies | Negotiated deal by deal | Often limited |
| Leverage on total cost | Up to 90% LTC on some programs | Varies | Varies | Often lower |
| Larger projects | $150,000 to $5M+ | Varies | Limited by one person's funds | Varies |
| Keep it as a rental | DSCR refinance with 30-year terms available | Usually short-term only | Usually short-term only | Often requires tax returns |
| Borrow in an LLC | Standard | Usually | Varies | Varies |
| High-cost Puget Sound projects | Up to $5M+ | Varies | Often limited | Varies |
Around Puget Sound, investors buy in south Seattle, Burien, Renton, Kent, Federal Way, Tacoma's Hilltop and South End, Lakewood, Everett and Lynnwood. Much of the stock is older ramblers and split-levels, and some lots allow a backyard unit under city rules.
Spokane and Spokane Valley offer lower prices and older bungalows. The Tri-Cities, Yakima, Wenatchee, Bellingham, Olympia and Vancouver each have their own demand drivers, from agriculture to commuters into Portland.
Washington foreclosures are usually nonjudicial trustee sales under the Deeds of Trust Act, held after required notice. Buyers generally need funds quickly. Research title and any HOA or utility liens before you bid.
Washington charges a graduated state real estate excise tax (REET), customarily paid by the seller, and cities and counties add a local REET. The rate rises with the price, so it is a big part of selling costs on a flip. Confirm current rates with your escrow company.
Contractors must register with the Department of Labor and Industries (L&I), and electrical and plumbing work requires certified trades. Check registration on every bid.
Cities issue building permits, and Seattle has its own rental registration and inspection program and strong tenant protections. Wet winters slow exterior work, so plan roofing and siding for the drier months.
This example is illustrative and not a quote. An investor buys a 1950s rambler in south Tacoma for $420,000 and budgets $110,000 for a roof, siding, windows, electrical, a kitchen, two baths and a new layout. Total project cost is $530,000. With the loan sized at 90% of cost, the loan is $477,000 and the investor covers $53,000 of the cost.
The estimated interest-only payment is about $3,975 a month, or $27,825 over a 7-month project. Add about $5,600 in taxes, insurance and utilities and $8,000 in purchase closing costs, and the investor has about $94,425 in the deal. The interest figure assumes the full loan is out the whole time; rehab funds paid in draws would lower it.
The finished home sells for $695,000. With about 8% of the price going to commissions, the seller's excise tax and escrow costs ($55,600), the estimated profit is about $67,975 before income taxes.
| Item | Amount |
|---|---|
| Purchase price | $420,000 |
| Rehab budget | $110,000 |
| Total project cost | $530,000 |
| Loan at 90% of cost | $477,000 |
| Investor share of cost | $53,000 |
| Estimated interest-only payment | $3,975 a month |
| Interest over 7 months | $27,825 |
| Other holding costs | $5,600 |
| Purchase closing costs | $8,000 |
| Total cash in the deal | $94,425 |
| Sale price | $695,000 |
| Selling costs (about 8%) | $55,600 |
| Estimated profit | $67,975 |
High prices on the west side often make selling the better exit, while Spokane and other eastern markets can support rentals. A DSCR loan qualifies on the lease, with no W-2s or tax returns.
If you plan to hold in Seattle or another city with strict tenant rules, review the local rules before you choose the rental path. A finished home with permits on file also helps the appraisal when you refinance, which supports both the loan amount and the DSCR.
Compare Washington lenders on the same terms, in writing, before your feasibility period ends.
Our answers, in order: up to 90% of cost and up to 100% of rehab on some programs; closings in as little as 10 days; LLC borrowers are standard; loans from $150,000 to $5M+; and a DSCR rental loan with a 1.0x standard minimum, 620 credit, up to 75% LTV cash-out or up to 80% rate-and-term on some programs, and seasoning that varies by program. Call (877) 298-1001 to talk it through.
Share the property, price, rehab budget and the date you need to close. Planning to rent it? Include the expected rent and we will size the DSCR exit as well. Get a quote with the form below or call (877) 298-1001.
For most Washington rehab investors, our top pick is LendingStreet: hard money style speed, leverage up to 90% of cost on some programs, loans from $150,000 to $5M+ and a direct path into a DSCR rental loan qualified on rent.
Yes. Washington is one of the 50 states (plus DC) where LendingStreet lends on 1-8 unit investment property. Start with the form below.
The seller customarily pays it. The state rate is graduated by price, and local REET is added, so it is a major part of selling costs. Confirm current rates with escrow.
Most are nonjudicial trustee sales under the Deeds of Trust Act, held after required notice. Buyers usually need funds quickly.
Yes. Contractors register with the Department of Labor and Industries, and electrical and plumbing work requires certified trades.
Yes. LendingStreet offers fix and flip, bridge and DSCR rental loans, so a project you decide to keep can refinance without starting over elsewhere.
No. Every LendingStreet loan is a business-purpose loan on non-owner-occupied investment property.
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