In Spokane, a seven-figure bridge loan usually covers more than one property. Packages of fourplexes, a few small apartment buildings or a run of homes bought from a retiring landlord are the typical large-balance deals here, along with the occasional lakefront or South Hill estate home.
In short: LendingStreet makes residential investor bridge loans from $1M to $5M+ in the Spokane area for packages of homes and small 1-8 unit buildings and for high-value purchases, with rates from 7.99% and closings in as little as 10 days. Loans are short-term and interest-only, and larger balances usually need a full valuation. Investors typically exit by selling or refinancing into DSCR, blanket or jumbo DSCR loans once units are renovated and leased.
Spokane prices mean that most $1M+ requests are packages. The common patterns are three to six fourplexes bought together, five-to-eight unit buildings in Browne's Addition or near downtown, a set of single-family rentals across north Spokane and Spokane Valley, and new duplexes or fourplexes bought from a builder's finished inventory.
| Deal type | Where | Likely exit |
|---|---|---|
| Fourplex package | North Spokane, Northwest, Spokane Valley | Blanket or separate DSCR loans |
| 5-8 unit buildings | Browne's Addition, near downtown, Logan | DSCR refinance per building |
| Single-family package | Garland, Hillyard, Spokane Valley | Blanket DSCR refinance |
| High-value home | South Hill, Liberty Lake, Newman Lake | Sale or jumbo DSCR refinance |
| Builder's finished infill units | Neighborhoods across the city | DSCR refinance after lease-up |
Portfolio sellers and estates often want one buyer who can close on everything quickly. A bridge loan can close in as little as 10 days on the right file, though large packages with full valuations often take longer. It can also fund renovation of tired units, which long-term lenders usually will not.
A second common use is paying off a maturing loan. Investors who bought with short local bank financing or seller carry-back notes sometimes face a balloon before the properties are fully leased or renovated.
This example is illustrative and not a quote. An investor buys three 1970s fourplexes in north Spokane from one seller for $1,650,000 and budgets $120,000 for unit turns and exterior work, a total cost of $1,770,000. A bridge loan at about 80% of cost is $1,416,000, with estimated interest-only payments near $11,800 a month.
After renovation, the 12 units rent for about $1,250 each, or $15,000 a month, and the buildings appraise at $2,050,000 together. A DSCR refinance at 70% LTV is $1,435,000, enough to repay the bridge. Estimated principal and interest is about $10,034, taxes $1,350 and insurance $600, for a total near $11,984 and a DSCR of about 1.25x.
| Item | Bridge stage | After refinance |
|---|---|---|
| Loan amount | $1,416,000 | $1,435,000 |
| Cost or value | $1,770,000 cost | $2,050,000 value |
| Monthly payment | $11,800 interest-only | $11,984 with taxes and insurance |
| Monthly rent | Partial during turns | $15,000 |
| DSCR | Not tested | About 1.25x |
Large balances usually need a full valuation, and packages often need one per building. Spokane has a good supply of fourplex sales for comparison, but converted mansions in Browne's Addition and lakefront homes can be harder to value.
Expect closer review of your experience, the property manager, your reserves after closing and the renovation budget. Investors who already own and manage Spokane rentals usually have a smoother path.
Renovation funds are usually released through draws after inspections. In Spokane, plan exterior work such as roofs, siding and paving for the drier months; a package closed in November may not see exterior work finished until spring, and that should be reflected in the bridge term.
Interior unit turns can continue year-round, and many investors lease units as they are finished to build rent history for the refinance.
Keep a clear record of what was spent on each building. At refinance, the appraiser and underwriter will compare the finished condition and rents with the original plan, and a well-documented scope of work makes the value easier to support. If the budget runs over, talk to the lender early rather than slowing the work.
Some large Spokane bridge requests are single properties: an estate home on the upper South Hill, a lakefront home on Liberty Lake or Newman Lake, or a large property bought from an estate that needs work before it can be rented. A bridge loan lets you close fast and renovate, then refinance into a jumbo DSCR loan or sell.
Rents on high-value Spokane homes do not rise in step with price, so a refinance on these homes may land at lower leverage than on a fourplex package. Run the rent numbers before you commit, and consider whether a sale is the more realistic exit for a luxury home.
Lakefront homes add shoreline, dock and septic questions, and some sit in unincorporated Spokane County with its own permit rules for any renovation work.
Spokane County revalues property annually, so a recent purchase can raise the next assessment. Use realistic tax figures in your refinance math, not the seller's older bill. Washington's graduated real estate excise tax applies if the exit is a sale.
If the exit is a lease-up and refinance, remember that Washington's 2025 rent increase cap applies to many residential rentals, with exemptions including newer buildings, and that statewide notice rules apply. Sign leases at the rents you expect to refinance on.
Fourplex packages can refinance into separate DSCR loans or one blanket loan, which qualifies on combined rent and allows releases. Single high-value homes may exit into a jumbo DSCR loan or by sale. For statewide deals, see our Washington large bridge loan page.
Our investor loans are business-purpose loans on non-owner-occupied property. To get a quote, share the addresses, purchase price or estimated value, leases and timeline using the form below, or call (877) 298-1001. We review the file and return a structure that fits the numbers.
Most often a package of fourplexes or homes, or a few small apartment buildings. Single properties at that size are less common outside the South Hill and lakefront areas.
Bridge rates start from 7.99%. Pricing on larger balances is set case by case.
Usually. Larger balances typically need a full valuation, and packages may need one per building.
Yes. Paying off a maturing loan while units are renovated or leased is a common use, followed by a DSCR refinance.
As little as 10 days on the right file. Packages with several valuations and title reports often take longer.
Yes. Properties anywhere in the Spokane area can be combined, as long as each is a 1-8 unit investment property.
Not under this program. Buildings with nine or more units are commercial.
A DSCR or blanket DSCR refinance once units are renovated and leased, or a sale of some properties.
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