Construction Loans in Spokane, WA
Find lenders offering construction loans in the Spokane, including Spokane Valley, Liberty Lake, Cheney, and surrounding areas. Compare rates, terms, and programs from 13 lenders.
Construction Lenders Serving Spokane
13 lenders offering construction loans in the Spokane, WA area.
Broadmark Realty Capital
LocalSeattle, WA
Private real estate lender offering bridge, construction, and land loans. Now part of Ready Capital. Loans from $500K to $25M+.
Bank of America
Charlotte, NC
One of the largest US banks. Commercial real estate lending, construction financing, and SBA loans through nationwide branch network.
CoreVest Finance
Irvine, CA
Rental portfolio and bridge lender for residential real estate investors. Build-to-rent and portfolio financing specialist. Redwood Trust subsidiary.
JPMorgan Chase
New York, NY
Major CMBS originator and commercial lender. Full range of CRE financing including conduit, agency, and balance sheet.
KeyBank Real Estate Capital
Cleveland, OH
Major bank CRE lender. Balance sheet, agency, and CMBS lending for multifamily, office, retail, and industrial properties.
Lima One Capital
Greenville, SC
Private lender for real estate investors. DSCR loans require 1.5+ ratio, min FICO 700. 5, 10, and 30-year options. Up to 75% LTV on purchases.
Merchants Capital
Indianapolis, IN
Bank-backed commercial lender active in 47 states. Over $6.8B in financing. Specializes in multifamily, affordable housing, and healthcare.
New Silver Lending
FL
Direct lender for real estate investors. DSCR loans with no minimum DSCR requirement. Also offers fix-and-flip, bridge, and construction loans.
PNC Real Estate
Pittsburgh, PA
Top-10 US bank with dedicated commercial real estate lending. Construction, bridge, and permanent financing for major property types.
Stbridge Capital
Los Angeles, CA
Private money lender in California. Bridge, fix-and-flip, and ground-up construction loans. Fast closings for experienced investors.
US Bank
Minneapolis, MN
Fifth-largest US bank. CRE lending including construction, permanent, and SBA loans. Strong in multifamily and affordable housing.
Vaster
Miami, FL
Commercial bridge loan lender for CRE investors. Flexible short-term financing for acquisition, rehab, and construction.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
Spokane Commercial Real Estate Market
Spokane is the economic capital of the Inland Northwest, serving as a regional hub for healthcare, higher education, and distribution across eastern Washington, northern Idaho, and western Montana. The downtown core has benefited from the University District redevelopment around Gonzaga University and Washington State University Health Sciences Spokane, which have attracted medical office, student housing, and mixed-use investment. The West Plains and Airway Heights submarket near Spokane International Airport has become a growing logistics and light-industrial zone, boosted by Amazon fulfillment center operations. Spokane's cost of doing business runs well below Seattle's, and the metro has seen an influx of remote workers and small businesses relocating from higher-cost Pacific Northwest markets.
Key Economic Drivers
- ●Providence and MultiCare health systems operating major hospital campuses
- ●Gonzaga University and WSU Health Sciences Spokane driving the University District redevelopment
- ●Fairchild Air Force Base and associated defense employment
- ●Amazon fulfillment and West Plains industrial park near Spokane International Airport
Market Insight
The University District development near Gonzaga University and the WSU medical campus has attracted over $1 billion in planned investment, transforming a formerly industrial rail yard area into Spokane's fastest-growing mixed-use neighborhood.
Construction Loans in Spokane, Washington
Commercial construction loans fund new development or major rehabilitation projects. Funds are disbursed in stages as construction progresses. Most are short-term (12-36 months) and convert to permanent financing upon completion. In the Spokane metro area, borrowers can access 13 lenders offering Construction financing, including Spokane Valley, Liberty Lake, Cheney, and surrounding areas. Loan amounts typically range from $500K to $100M with rates from 7% - 10%.
Who Should Consider Construction Loans?
- Ground-up development
- Major renovations
- Land + construction
- Build-to-suit projects
Key Requirements
- Detailed construction plans and budget
- Licensed general contractor
- Building permits
- Development experience (strongly preferred)
- 20-35% equity
Advantages
- ✓Interest only on drawn funds
- ✓Funds disbursed as needed
- ✓Can include land acquisition
- ✓Construction-to-permanent options available
Considerations
- •Requires detailed plans and budgets
- •Draw schedule inspections
- •Higher rates during construction
- •Completion risk on borrower
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