WA · Seattle
Bridge, Flip & Construction
Loans in Seattle, WA
Bridge, fix & flip, construction, renovation and DSCR loans for residential investment property in Seattle, $1M to $5M, term sheet in 24 to 48 hours. For US investors and foreign nationals on the same terms.
Passy Capital finances investors and builders who buy, renovate and build residential investment property in Seattle and the Puget Sound region: single-family houses, 2-4 unit buildings, townhomes and condos, small apartment buildings up to 9 units, and build-to-rent. Bridge, fix & flip and ground-up construction loans come first, then renovation, with DSCR as the hold. Loans run from $1M to $5M, with a term sheet in 24 to 48 hours and closing in about two weeks on a clean file.
Seattle prices put most investor deals inside our $1M to $5M range. The typical project is an older house on a residential lot, either renovated and resold or replaced with several new townhomes or a small multi-unit building. Washington's middle housing law (HB 1110, passed in 2023) requires cities of Seattle's size to allow at least four units per lot in areas that used to be zoned for detached houses, and more near major transit, which is why that rebuild model matters here. We fund it with a bridge loan up to 80% LTV on the lot, then a construction loan up to 85% of cost.
Investors based outside the United States borrow on the same terms, through a US LLC, with no US credit history required. All lending is business-purpose, on non-owner-occupied property. The fee is 1-2% of the loan, paid at closing, with no upfront fees.
Seattle Market Highlights
Middle Housing Zoning
State law (HB 1110) requires cities of Seattle's size to allow at least four units per lot in former detached-house zones, and at least six near major transit or with affordable units. It opens small-lot infill to builders.
Non-Judicial Foreclosure
Washington lenders foreclose under the Deed of Trust Act (RCW 61.24) through a trustee's sale, without a court case, on a statutory notice timeline.
Graduated Excise Tax on Sales
Washington's real estate excise tax is graduated, from 1.1% on the lowest bracket up to 3.0% on the part of the price above roughly $3 million, plus a local rate. The seller usually pays it, so it comes off a flip's exit proceeds.
Townhome Infill Exit
Builders commonly replace one older house with several townhomes and sell them individually, or hold them and refinance into DSCR once leased.
Eastside Markets
We also finance across the Eastside, including Bellevue and Kirkland, and south to Tacoma, on the same residential terms.
Same Terms From Abroad
A foreign investor buying or building in Seattle borrows through a US LLC on the same terms as a local investor, with no US credit history required.
Key Submarkets
Ballard
Wallingford
Fremont
Queen Anne
Capitol Hill
Beacon Hill
Columbia City
West Seattle
Shoreline
Bellevue
Kirkland
Tacoma
Property Types We Finance
Single Family
2-4 Units
Townhome / Condo
Small Multifamily (5-9)
Infill New Construction
Build-to-Rent
SFR Portfolios
Scrape & Rebuild
Loan Programs
Bridge Loans
Buy, refinance or cash out an investment property, closing in about two weeks.
Construction
Ground-up spec homes and build-to-rent, with draws tied to milestones.
Renovation / Rehab
Rehab financing on 1-4 unit and small multifamily, drawn against completed work.
Fix & Flip
Purchase and rehab in one loan for 1-4 unit flips, closing in about two weeks.
DSCR / Rental
Long-term rental financing based on property cash flow.
Investing in Seattle from outside the US
If you are buying in Seattle from outside the United States, financing is usually where the process stalls: no Social Security number, no US credit history, and no retail bank willing to underwrite a foreigner. We lend to your US LLC instead, underwrite the property rather than a US profile you have no way to build, and charge no foreign-national premium for it.
Frequently asked questions
Do you finance townhome infill projects in Seattle?
Yes. Ground-up construction of townhomes, 2-4 unit buildings and small multifamily up to 9 units is core for us, up to 85% of cost, with draws released as the work is completed.
Who pays the real estate excise tax on a Seattle sale?
The seller usually pays Washington's real estate excise tax, at graduated state rates plus a local rate. On a flip it reduces your sale proceeds, so build it into the exit numbers.
Can a foreign national finance property in Seattle?
Yes. The loan is made to a US LLC and underwritten on the property, so a non-resident with no US credit history borrows on the same terms as a US investor.
Learn More
Bridge loan vs construction loan
When to carry a lot on a bridge loan and when to move to a construction loan with draws.
How does a construction loan draw schedule work?
How funds are released during a ground-up build, and what triggers each draw.
Do you need US credit as a foreign investor?
How a non-US investor qualifies for a US investment property loan without a US credit history.
More answers in investor questions, answered and the glossary of lending terms.
Related US Markets
We finance US and foreign investors in other markets too.
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