Hard Money Lenders in Spokane, WA | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inSpokane, Washington

Fix and flip, DSCR rental and new construction financing for Spokane investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.

Get a term sheet →Price a Spokane deal

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO, September 2026

Price a Spokane deal right now

Prefilled with a realistic Spokane deal. Change any number and it reprices on the programs that lend in Washington, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

Financing a deal in Spokane

Spokane is the affordable end of Washington and a real flip market in its own right, with prices far below the west side and a housing stock that is mostly early 1900s bungalows and post-war ranches with basements. Gonzaga, the hospital district and Fairchild Air Force Base keep renters and buyers coming, and people moving from Seattle and California have added a layer of demand. The north side neighborhoods are where most flips happen; the South Hill is the premium market.

The Spokane flip is decided by the basement and the heating. Almost every older house here has a full basement, and whether it's dry, how tall it is and whether it can legally hold a bedroom decides how much square footage you can sell. Winters are cold and snowy, so a buyer's inspector looks closely at the furnace, the roof and the insulation. Houses that are priced right still move quickly here, so a finished product that looks after those three things sells.

What a Spokane deal looks like on paper

Spokane example: $215,000 purchase, $55,000 rehab, $360,000 after repair value, 700 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Say a 1910s Hillyard bungalow with a full basement: new furnace, rewiring, a kitchen, a bath, and a radon system before listing. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$237,750
Cash to close$45,955
Proof of funds to show$72,086
Where the $45,955 goes
  • Down payment (15% of the purchase)You$32,250
  • Origination (0.5%)Lender$2,000
  • Lender fees (flat)Lender$1,989
  • Broker fee (1%)Broker$2,378
  • Title and closing (estimate at Texas rates)Title$3,510
  • Prepaid interest (15 days)Lender$713
  • Property insuranceInsurer$2,565
  • AppraisalAppraiser$550

Interest while you rehab: $1,445 a month on the $182,750 funded at closing, $1,880 once every draw is out. Proof of funds is cash to close plus $14,850 of rehab reserve and $11,281 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Fix and flip programs in Spokane

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Best Rate15% of purchase700+First flip OK8.99% to 9.49%0.5%70% of ARV12 months5-14 days
First Flip, 10% Down110% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips40% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
  1. Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  2. Rate 9.99% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  3. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  4. Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Where Spokane prices sit right now

Before we price a Spokane flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.

Redfin puts the Spokane median sale price at $375,000 for the three months ending August 2026, down 1.7% from a year earlier, with homes selling after 22 days on the market on average.

Median sale price, Spokane (Redfin, 3 months to Aug 2026)$375,000
Change from a year earlier (Redfin)-1.7%
Average days on market, Spokane (Redfin)22

Sources: Redfin, Spokane housing market

How a Spokane file actually gets priced

We comp Spokane inside the same neighborhood and the same side of the river, because the South Hill premium doesn't carry to Hillyard or West Central. The appraiser separates above-grade and basement square footage, and a basement bedroom without proper egress won't count as one. We use recent closings, and on the older bungalows we want a sewer scope and a look at the foundation, since rubble and early concrete foundations are common north of downtown.

Spokane sits in a high radon area, and buyers here test for it, so budget a mitigation system on a basement house. Wildfire smoke is a summer fact and the wildland edges on the city's fringe carry insurance questions. Snow load and ice damming punish old roofs. The city has loosened its zoning to allow more middle housing types on residential lots, which can change what a corner or alley lot is worth, and permits run through the city's Development Services Center.

Who buys your finished Spokane deal

A finished Spokane house under the city median sells to first-time buyers, hospital staff, military families from Fairchild and newcomers from the west side who think it's a bargain. That last buyer expects updated systems and a finished basement done right. The South Hill supports higher prices for character homes. Rents are solid near Gonzaga and the medical district, so a lot of north side flips can refinance into a DSCR rental if the sale market slows.

What happens after you apply

Apply once and the whole Spokane loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Spokane

Fix and flip

10%down on a first flip
Rates
from 8.99% at 760+ credit
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Washington →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Washington →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Washington →

Where we lend in Spokane

We broker deals across the whole Spokane market. The submarkets investors ask us about most are Hillyard (99207), Emerson-Garfield and the Northwest (99205), Logan and East Central (99202), West Central (99201), Shadle and Audubon (99205), South Hill (99203 / 99223) and Nevada Heights (99208 / 99207).

How long does a Spokane loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Washington, and the rate, origination, leverage and cash to close come back side by side. 5-14 days to fund. We stay on title and the lender through funding.

Spokane hard money FAQ

Do you lend hard money in Spokane?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Spokane scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in Washington, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Spokane?
As of October 2026: Best Rate (15% down, from 8.99%); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can a Spokane hard money loan close?
Most Spokane fix and flip files fund in 5-14 days once the file is complete. The First Flip, 10% Down program and the 7.5% Down, 3+ Flips program close in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on a Spokane flip?
The worked example on this page is a $215,000 Spokane purchase with a $55,000 rehab and a $360,000 after repair value at 700 credit, first flip: $32,250 down (15% of the purchase) and $45,955 total cash to close, with $72,086 of proof of funds to show the lender. The lowest down payment for a first flip in Spokane is 10% down from 9.99% at 660+ credit. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in Spokane?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for a Spokane fix and flip loan?
The lowest credit floor among the Spokane programs is 620, on 100% financing (under 70% of ARV) with 2+ completed flips. A first flip needs 660 or higher. The lowest rate here, 8.99%, needs 760+ credit. Depending on the program, rates step down at 760 credit and origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance a Spokane flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Spokane flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Is Spokane a good city for a first flip?
It can be, because the entry prices are low for Washington and the buyer pool is steady. In Washington a first flip can be priced at 15% down with 700+ credit (from 8.99%) or 10% down with 660+ credit (from 9.99%). The worked example is the 15% down one. The risk is underestimating the older house: a basement, a furnace and a roof can eat a budget quickly, so get inspections before you lock the scope.
Does a finished basement count toward the ARV in Spokane?
Partly. Appraisers count basement space separately from the main floor and at a lower value, and a bedroom down there only counts if it has proper egress and ceiling height. Finishing a dry basement properly still adds value, especially if it adds a bedroom and bath, but we set the ARV on how comps with finished basements actually sold.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.

What to read before you sign a term sheet

Hard money near Spokane: Seattle and Tacoma. More Washington city guides: Bellevue, Kent and Vancouver. Or see everything we fund in Washington.

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