Washington · Short-term rehab · 1–4 unit
Direct fix and flip financing from a Washington lender’s desk — Seattle, Spokane, Tacoma, and Bellevue. $100K to $5M per asset, up to 92.5% of project cost, 100% of the rehab budget, weekly draws, no application fee, no prepayment penalty. Underwritten in-house and wired through a Washington title and escrow company on a clean file inside two business days.
A South Park acquisition, a Tacoma full-gut, a Spokane BRRRR. The numbers below are how we wrote them.
Washington · Q3 2025
Why Washington investors use PML
A conventional Washington mortgage takes 30 to 45 days, asks for two years of W-2s, and reprices halfway through. None of that matches how a Washington flip clears at auction or on the MLS. Hard money exists because investor deals close in days, not months — and because the asset itself, post-rehab, is the collateral that matters.
County trustee or court foreclosure calendars across Washington clear on a posted schedule, and the NWMLS turns over the sharpest off-market inventory inside 48 hours. PML issues a binding term sheet within four business hours and wires a clean Washington file in 48 hours. The faster you can credibly close, the deeper the discount you can negotiate on a South Park acquisition or a Seattle value-add.
Washington flips concentrate in the $425,000 to $795,000 ARV band — the cosmetic three-twos and full-gut projects that occupy South Park, Hilltop, Beacon Hill, West Central Spokane. At 92.5% LTC and 100% rehab funding, a single experienced Washington flipper can run four to six concurrent projects on the equity that a bank loan would tie up in one. The math on annual return on equity favors the leveraged operator on every realistic scenario.
PML underwrites the property’s as-repaired value, your Schedule of Values, and your sponsor track record. We do not need W-2s, Washington state returns, or DTI calculations. That makes PML the right tool for self-employed Washington operators, anyone running income through a Washington LLC or S-corp, and any sponsor with a complex K-1 stack from prior closings.
Washington fix and flip terms
Same rate sheet as every other state in our book. PML underwrites on the as-repaired value, not the purchase price alone. Leverage scales with sponsor track record, market, and deal quality — and every term below moves on a published rate sheet.
Washington market, by the numbers
Three data points from current public reporting that shape how PML prices and sizes Washington fix and flip loans. We update internally each quarter; the figures below were current as of the most recent published cycles.
Three deals we’d write in Washington
Three illustrative deal profiles drawn from common configurations across our Washington book. Real closings vary; these are anchor points for the math, not solicitations.
King County, Seattle · 1940s 3/2 SFR
Pierce County, Tacoma · 1920s 3/2 SFR
Spokane County, Spokane · 4-unit value-add
Illustrative only. Representative of typical configurations across our Washington book — not specific recent closings. See recent loans →
How PML closes in Washington
The same five-step flow we run on every state, with three Washington-specific lines. Submitted Monday on a clean file, wired by Friday.
Drop in the Washington property address, your Schedule of Values, and a draft purchase contract. No application fee and no soft credit pull at this stage.
~5 minutesA PML underwriter — not a salesperson — replies with a real Washington rate, leverage, and a binding term sheet. Soft credit inquiry runs only after you accept.
~4 hoursTitle routes through a licensed Washington title and escrow company in the subject county. Washington’s Consumer Loan Act does not apply to business-purpose loans on 1 to 4 unit non-owner-occupied investment property held by an entity. Subject-to-completion appraisal runs in parallel.
~2 daysWashington closings happen at a licensed title and escrow company. The same in-house team that quoted the deal also issues the closing docs — no table-funding, no last-minute repricing, no fee changes between term sheet and HUD.
~1 dayFunds wire at close. The King County e-recording system normally posts a deed and deed of trust the same business day they are submitted. Other major Washington metros (Spokane, Tacoma and Bellevue) run similarly fast on e-recording. PML wires loan proceeds the day of close; the lien recording happens in parallel. Weekly draws begin on receipt of the first paid invoices.
Same day, then weeklyWashington fix and flip FAQ
Specific to Washington. For broader hard money questions — FICO floors, BRRRR strategy, the 70% rule, application flow — see the 70% rule explainer, the BRRRR mechanics breakdown, or the full FAQ.
Submit a Washington property and an underwriter replies with a real rate within four business hours. No application fee, no soft pull until you accept. Underwritten in-house, wired through a Washington title and escrow company.
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