Home / Washington / Tacoma
Hard money loans in Tacoma, WA
Financing for flips, rentals and new construction in Tacoma and Pierce County.
Investing in Tacoma real estate
Tacoma is the second-largest city on Puget Sound, about 30 miles south of Seattle. Much of its housing dates from the early 1900s: Craftsman bungalows and foursquares in the North End, Hilltop and the Lincoln District, with post-war homes in the South End and on the Eastside. An older house that needs new systems and finishes is the typical Tacoma flip.
Investors come here for purchase prices well below Seattle’s and for steady rental demand from Joint Base Lewis-McChord, the Port of Tacoma, the University of Washington Tacoma and the city’s hospitals. Sounder commuter trains run from Tacoma to Seattle.
Neighborhoods investors ask about
- North End and Proctor: Craftsman and Tudor homes at the upper end of the Tacoma market
- Hilltop and the Stadium District: older homes and small apartment buildings near the hospitals and downtown
- South Tacoma and the Lincoln District: bungalows and small rentals at lower price points
- Eastside and McKinley Hill: single-family flips and rentals
- Central Tacoma and 6th Avenue: rentals near the University of Puget Sound
What to plan for on a Tacoma deal
- Tacoma voters passed a tenant-protection measure in 2023 that adds notice and relocation rules for landlords. Read it before you underwrite a rental.
- The city’s Home in Tacoma zoning allows more homes per lot in most residential areas, which opens up small infill projects.
- Homes from the early 1900s often need wiring, plumbing and foundation work, and many have an old side sewer or a buried oil tank.
- Exterior changes in historic districts such as the North Slope need Landmarks Preservation Commission approval.
- Near the base, many tenants are on military orders. Plan for regular turnover.
Loan programs for Tacoma investors
| Program | What it funds | Maximum leverage |
|---|---|---|
| Fix and flip loans | Buying and renovating a property you plan to resell | Up to 90% of purchase and 100% of rehab, capped at 70 to 75% of after-repair value |
| DSCR rental loans | Buying or refinancing long-term and short-term rentals | Up to 85% loan-to-value on a purchase, up to 80% on a cash-out refinance |
| New construction loans | Ground-up builds, including the land | Up to 90% of cost for experienced builders, capped at 70 to 75% of completed value |
| Portfolio and commercial loans | Several rentals under one loan, plus multifamily and commercial property | Up to 80% on a portfolio purchase; commercial quoted deal by deal |
Tacoma hard money loan questions
Yes. We lend on investment property in Tacoma and across Pierce County, including fix and flip loans, DSCR rental loans and new construction loans.
Yes. A DSCR loan is qualified on the property’s rent compared with its full monthly payment. Purchases can be financed at up to 85% loan-to-value.
The minimum loan is $75,000.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are complete. Rental and DSCR loans take about 30 days, including the appraisal.
Other Washington markets
Have a deal in Tacoma?
Tell us the address, the purchase price and your plan for the property. We will come back with leverage and pricing for your scenario.