Commercial Loan Direct (CLD) provides commercial real estate loans in Washington. Current commercial loan rates in Washington range from 4.73% to 12.75% depending on the loan program.
For more in-depth commercial interest rates, please visit our Commercial Loan Rates page. If you are looking to finance or refinance a multifamily property, please visit our Washington multifamily loans page.
Note: The commercial mortgage rates displayed in this website should be used as a guideline and do not represent a commitment to lend. Commercial Loan Direct and CLD Financial, LLC are not liable for any commercial mortgage interest rate or data entry errors that might affect the displayed commercial loan rates. Commercial loan rates may change at any time and without notice.
Washington Interest Rates starting at 4.73%. Tell us about your property and financing goals. We will match your request with lending options based on program fit and current market conditions.
The types of mortgages available for these types of properties are Conventional, CMBS / Conduit, Insurance, and Agency (FHA / HUD and USDA) products. Bridge and/or Construction mortgages are also available on a case-by-case basis in order to reposition, stabilize or construct buildings. Commercial real estate investment properties can include office, retail, industrial/warehouse, self-storage, healthcare (medical office, skilled nursing facility, memory care, hospitals), hospitality, (hotel, motel, resort), and mixed use.
Owner-Occupied commercial real estate properties in which the owner occupies at least 50% of the premises and can include office, retail, industrial/warehouse, self-storage, healthcare (medical office, skilled nursing facility, memory care, hospital), hospitality (hotel, motel, resort), mixed use, or any other type of commercial property. The types of mortgages available for owner-occupied buildings include Conventional, Insurance, and Agency programs including FHA / HUD, SBA, and USDA. Construction mortgages are also available on a case-by-case basis in order to develop or reposition a property for the owner's use.
Washington’s commercial lending market is capital-rich but highly selective. Banks, credit unions, and institutional lenders are active, but underwriting is conservative and heavily influenced by regulatory risk, tenant durability, and exit liquidity. The spread between “easy yes” and “hard no” deals is wide, particularly in the Seattle metro.
Industrial and logistics assets remain the most lender-friendly property type statewide, especially around Seattle–Tacoma, the I-5 corridor, and major port and distribution nodes. Modern facilities with strong tenant demand and longer lease terms underwrite best.
Owner-occupied properties are consistently attractive, particularly when the operating business has stable historical cash flow and limited exposure to regulatory or labor volatility.
Stabilized multifamily can finance when operations are clean, but lenders carefully evaluate rent regulations, eviction rules, and expense growth. Workforce housing often underwrites more smoothly than luxury product.
Office is the most challenged asset class, especially in downtown Seattle and suburban office parks. Elevated vacancy and slower leasing push lenders toward very low leverage or outright avoidance unless the asset is top-tier and well-leased.
Value-add and transitional deals face heavy scrutiny. Lenders discount projected rent growth and typically require more equity, more reserves, and stronger guarantor liquidity.
Hospitality and discretionary assets often receive tighter terms due to sensitivity to tourism cycles, labor costs, and economic swings.
Seattle / Puget Sound: Deepest lender pool and strongest long-term fundamentals, but also the most conservative underwriting due to office oversupply, regulatory complexity, and high values.
Tacoma: Viewed as more affordable and logistics-oriented, with better lender appetite for industrial and stabilized multifamily.
Eastern Washington (Spokane, Tri-Cities): Financing is available, but lenders emphasize sponsor experience and tenant stability, often capping leverage slightly lower than in Seattle.
Secondary and rural markets: Credit becomes more relationship-driven, with conservative leverage and strong guarantor requirements.
Regional and national banks are active but selective, often favoring existing relationships and lower-risk assets.
Credit unions can be competitive on owner-occupied and smaller-balance loans, sometimes offering better structures for strong local borrowers.
Life companies and institutional lenders focus on large, stabilized assets with long-term income visibility.
Debt funds and non-bank lenders fill gaps for transitional deals or higher leverage needs, typically at higher cost.
Regulatory exposure (rent growth limits, eviction protections, zoning constraints) is a core underwriting factor and can materially affect leverage.
Expense growth—especially labor, insurance, and utilities—is closely stressed in lender models.
Sponsor liquidity and experience often carry as much weight as property-level metrics.
A strong Washington loan request usually includes conservative leverage, defensible historical NOI, strong sponsorship, and a clear explanation of how regulatory and operating risks are managed.
Deals that rely on aggressive rent growth, short-term exits, or rapid market rebounds tend to struggle.
Washington is a capital-available but heavily filtered lending environment. Industrial and owner-occupied deals remain the clearest paths to financing, while office and regulatory-sensitive assets face significant hurdles.
We are proud to be serving the state of Washington. Here are our commercial loan statistics for this state.
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Commercial loan direct provides services in the following Washington cities. Please note we may be able to provide services in other cities as well by request. Rates are dependent on the market in your locale.
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What Clients Say About Us
Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever
- Nirav Patel
If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.
- Vincent Arias
We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them
- Rita Pisarski
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