Hard Money Loans in Washington

Hard money lenders in Washington are private money investment options for real estate investors.

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7 Best Hard Money Lenders in Washington

Key Terms

  • A hard money lender is a private individual or a group of private investors who work together to provide funding for projects.
  • Most often, these loans are meant for rental income properties, fix and flip projects, bridge loan properties, and other types of commercial real estate.
  • For those looking for a short-term loan and after-repair value opportunities, hard money lenders in Washington could help you.

The state of Washington sits on the Pacific Ocean. This Pacific Northwest state is noted for its beautiful natural areas, including its rich ecological diversity. It is a stunning area to live with mountain ranges, rainforests, and a semi-arid basic in some areas. Aside from that, it is home to Seattle, one of the most modern and advanced cities in the country, and notable for being the home of many large international companies such as Amazon and Microsoft. Aside from being a tech hub, Washington has a diverse economy built on agriculture, forestry, wine, and healthcare. It is one of the wealthiest of all states. Large cities here include Seattle, Spokane, Vancouver, Everett, and Tacoma.

The high quality of life is easily matched by the high cost of living in Washington. That leads to a high value for homes of most types. Though single-family homes are common, many of the more dense urban areas, especially around Seattle, offer condos and apartment-style living that’s also very valuable. Outwards from the coast, home values fall somewhat. The median sale price of a home in Washington is currently $452,400, according to Washington State government records. In Seattle, that could easily be twice as much, whereas out in the more remote areas of the state, home values are much lower.

A key bit of information that may benefit some investors has to do with rental property. In Washington, 66.2 percent of people live in a home they own, while 33.8 percent rent their home, according to U.S. Census Bureau. That is a high percentage of rentals, and in some cases, this could create an opportunity for investors. Of those rentals, only 4 percent of them are vacant. That, too, could indicate that there is an opportunity here for those who want to buy property to rent.

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How hard money loans work

For those considering hard money loans for these properties, it can prove to be an ideal opportunity. Hard money lenders in Washington are available to provide borrowers with the financial tools they need for fix and flip rental income properties and other types of high risk real estate. Unlike conventional loans, these lenders have more flexibility to offer financing on high risk properties, but they typically do not do so unless they see the potential in it.

There are numerous factors to consider about these loans, and while they do have a higher interest rate than most other types of secured loans, that is often considered an acceptable level for the risk being taken by the lenders. If a traditional lender won’t work for you, look into a private money lender as a possible solution.

First, as with all traditional real estate loans, hard money loans in Washington are secured by the property they are used to purchase. That means the lender may  be able to take foreclosure steps as a way to recoup its investment in that property if the borrower defaults on the loan. That does create some risk for the borrower as he or she would be unable to obtain the funds they put into the project. This is not uncommon for most real estate loans.

With this type of security, a lender is more likely to offer better terms to borrowers. A private money loan could offer better terms, but you’ll want to verify this in their underwriting process. Sometimes a hard money loan makes a lot of sense for construction loans if you want to build new construction on a property, as just one example. Various loans in the real estate market might not give you the funding you need with good terms, and some commercial loans are very limiting as well, leading many to turn to a hard money lender in Washington.

If you want to buy residential properties but traditional loans or rehab loans just won’t work, do your research to see if there are any competitive rates on hard money loans in your area. Private money lending could be your solution.

Also important is that hard money lenders in Washington typically offer these as short term loans that last between 1 and 5 years. Because these properties are often repaired, upgraded, and then sold again or refinanced into a more affordable loan once their value improves, they tend to remain very short term. Bridge loans, for example, allow a borrower to purchase the property with a high risk loan, wait for the completion of the build or renovations, and then refinance with a lower interest rate.

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7 Top Washington hard money lenders

Some lenders only offer hard money loans to experienced investors, while other programs can lend to those that are pursuing their first real estate investment.

1. Intrust Funding

Started by Will Heaton and James Dainard, Intrust Funding aims to provide hard money financing to the Puget Sound Region if Washington. They offer a traditional set of private money financial products, from bridge loans to fix and flip.

We contacted Intrust Funding to learn more about their private lending business and here are some of the highlights:

  • No appraisals or draw inspections required
  • Can fund loans in up to 48 hours
  • No prepayment penalties
  • Loan fees start at 2%
  • Terms up to 12 month
  • Property must be non-owner occupied
  • Property must be in the state of Washington

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

2. WADOT Capital Inc

WADOT Capital is headquartered in Seattle and lends in the states of Washington, Oregon and Idaho. Founded i n2001 by Erik Egger, they primarily focus on hard money projects related to construction financing, rehab loans and farm loans.

We contacted WADOT Capital Inc to learn more about their private lending business and here are some of the highlights:

  • Terms are typically 1 to 2 years
  • Borrower is responsible for all broker and/or 3rd party fees
  • Interest rates are typically in the 10.5% to 12.9% range
  • The origination fee is based on the contract term and is 4% for 24-month contracts, 2.5% for 12-month contracts and 3% for 6-month contracts

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

3. Easy Street Capital

East Street Capital is based in Austin, Texas but lends nationwide except in North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital has over six years of experience in the real estate investing world.

We reached out to Easy Street Capital to learn more about their hard money loans and this is what we found:

  • Interest rates range from 6.9% – 10.9%
  • Points range from 2-3
  • There is a $1495 document fee
  • No minimum credit score required
  • Down payments of at least 10% required
  • Renovation financing ok
  • Fix and Flip loans do not typically have prepayment penalties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

4. EquityMax

EquityMax is based out of Florida and most of its business in the state but is able to lend throughout the United States. Founded by Brad Emmer in 1990, EquityMax has decades of experience as a hard money lender.

We reached out to EquityMax to learn more about their hard money loans and these are the key highlights that you need to know:

  • Single Family Homes
  • 1-4 Multi-Unit Properties
  • Condos and Townhomes ok
  • Commercial property and Industrial Warehouses OK
  • Direct lender that has decision making over financing deals.
  • Can originate loans to individuals, LLCs, corporations, land trusts and self-directed IRAs.
  • No prepayment penalties
  • No minimum credit score required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

5. LendSimpli

LendSimpli is a hard money lender based in Tampa, Florida. They can lend nationally in most states but may not be able to lend if the property is in a rural area. Founded by Brenden Crampton and Matthew Davies in 2018, they have nearly four years of experience in the private lending real estate investing market.

We reached out to LendSimpli to get more details about their bridge loan product and this is what we found:

  • Loan amounts up to $5 million for 1-4 unit properties
  • Loan amounts up to $20 million for 5+ unit properties
  • Single family (1-4 units)
  • Multifamily (5-20 units)
  • No owner-occupied properties
  • Loan terms 12-24 months
  • Interest-only payments with rates starting at 8.50%
  • Max LTC is 90% of project costs
  • Minimum credit score is 660
  • Prefer that you have at least two transactions in the past three years

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

6. HouseMax Funding

HouseMax Funding is based out of Austin, Texas but has a national footprint when it comes to real estate industry lending. Started by Jeff Fetcher and Alex Morris, HouseMax provides asset-based loan financing to investors for real estate transactions.

We reached out to HouseMax to learn more about their hard money lending program and here is what we found:

  • Minimum loan amount is $75,000
  • Lends up to 75% of the after-repair value (APV)
  • 1-3 points origination charge
  • 3 months reserves required
  • Direct lender that approves loans internally and funds using their own private capital.
  • Lends in urban and suburban communities in all 50 states.
  • Goal is to close loans in 10 days or less.
  • Specializes in fix & flip loans, construction and rental loans
  • Multi-family and commercial properties are ok

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

7. Stratton Equities

Stratton Equities is a nationwide direct hard money lender for real estate investors. Founded by Michael Mikhail in 2017, Stratton Equities has over five years of experience in the private lending market.

We reached out to Stratton Equities to get more information about their hard money lending program and here are some highlights:

  • Loan amounts from $100,000 up to $5 million
  • Investment properties only
  • Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial and Warehouse are all ok
  • Up to a 75% LTV
  • Rates start at 7.25%
  • Interest only payments
  • Loan terms are 9-24 months
  • Foreign nationals are eligible
  • No prepayment penalty option is available

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

Pros/Cons of Washington hard money loans

Washington hard money loans provide key opportunities for borrowers, but they do carry some risks. Those who are considering the investment need to be fully aware of the opportunities and limitations these loans provide.


Most hard money loans are more accessible for high risk real estate purchases than typical loans from banks. They do not have the same federal oversight, which may mean that lenders can minimize the number of steps borrowers have to take, such as in numerous inspections. Though an appraisal is still necessary, lenders can be more flexible with other conditions to meet borrower needs when they believe it is worthwhile.

Private lenders use the ARV of the property in some situations. That means the value of the property is based on the type and amount of renovation done to it, allowing borrowers to secure the funds they need with a bit more ease. That’s unlike a traditional loan that would reduce the value for renovation needs.

Washington hard money lenders have eligibility requirements, but they may offer more flexibility in the way of down payment rules and credit scores. Some allow borrowers with little experience in rental properties to obtain the loan.


Qualifying for these loans can sometimes be difficult for those who have a limited background. The biggest disadvantage of these loans are the higher costs, including higher interest rates as well as higher fees associated with the loan. These are offset by providing access to the loans as well as offering short term lending terms, which help keep the total costs of interest applied to the property financing a bit lower than what most would expect for these properties.

Looking for a hard money lender in a different state?

If you want to find the best hard money lenders in other states, click on your state below.

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Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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