Seattle Funding Group

About Seattle Funding Group

Seattle Funding Group was founded in 1988 and is a direct portfolio bridge lender focusing on providing short-term commercial, residential and construction loans secured by real estate located in the Western United States. Seattle Funding Group lends to real estate investors and developers only and does not make primary residence loans. Seattle Funding Group is led by industry veterans John Odegard and Greg Elderkin and provides fast, value-add loans for its clients. Seattle Funding Group lends in AK, AZ, CA, CO, HI, ID, OR, NV, UT, TX, WA and has funded over $1 billion since its inception.

Seattle Funding Group recently funded $1.77 million for the construction of a seven-unit student housing project located in San Diego, CA.

Loan Programs

Seattle Funding Group funds short-term loans from $300,000 to $15+ million to developers and property investors looking to purchase, refinance, fix and flip, construct or cash-out of non-owner occupied residential or commercial property. The firm will also make one loan secured by multiple properties and lend against property currently listed for sale. Seattle Funding Group’s concentration has always been on Western US bridge loans, and the company has differentiated itself through offering a number of unique programs and below market interest rates.

Below are a sampling of reasons why a borrower would take out a loan from Seattle Funding Group:

  • Capitalize on time-sensitive opportunities such as the immediate acquisition of undervalued or value-added properties
  • Restructure debt, settle disputes at a discount or buy out partners
  • Cash-out refinance or borrow against property listed for sale
  • Renovation, construction or asset re-positioning
  • To prevail in competitive bidding situations
  • The borrower is a foreign national who owns Western US real estate

See how much financing you qualify for

Bridge Loan Program Highlights / Guidelines

A bridge loan is a short-term loan that usually assists in bridging a borrower from a less favorable situation to a more favorable situation. For example, a borrower may take out a bridge loan to pull cash-out of his property to pay off lingering debt and improve a low credit score, so he can refinance into a permanent loan. Real estate collateral is essential to Seattle Funding Group’s programs and borrowers without hard commercial real estate or investment residential real estate collateral are not eligible for financing.   

Loan sizes from $300,000 to $15+ million (loan minimums and maximums vary by state)

  • Loans secured by 1 to 4 unit residential, multifamily 5+ units, vacation homes (for business use), fractured condos, corporate retreats, super luxury rentals, industrial, office, self-storage, retail, unimproved parcels, residential lots, single-use properties, etc.
  • Underwriting is credit score sensitive although there is no set minimum
  • Loan-to-value (LTV) up to 75% and loan-to-cost (LTC) up to 85%
  • Interest rates from 5.99% to 8.99% interest only
  • No occupancy requirement or minimum debt-service coverage ratio
  • Purchase, refinance, fix and flip, renovation, construction, cash-out and transitional funding for property listed for sale
  • 1% to 3% loan origination fee
  • 1st lien position loans only
  • Up to 36 month loan terms available
  • No prepayment penalty in most cases
  • Closings can occur in days, not weeks
  • Foreign national loans available

The Loan Process

LendVer did not shadow the application or loan process for Seattle Funding Group but its website offers basic information about how to get started. Applicants are encouraged to fill out a short online application form or to contact the company directly to start an application (the company also provides application forms on its website). Seattle Funding Group lists its staff’s names and contact information on its website.

Seattle Funding Group is a direct portfolio lender and doesn’t rely on credit lines or the reselling of its loans in the secondary market. Because Seattle Funding Group is a true portfolio lender, it has discretionary authority to evaluate and process loan requests in a creative and flexible manner. Processing, underwriting and loan approval are all done in-house at Seattle Funding Group, further contributing to its efficiency and ability to close quickly. Seattle Funding Group is able to provide a same day letter of interest (LOI) and can close in only a few days when the situation requires it.

See how much financing you qualify for


  • Seattle Funding Group offers low cost terms with rates starting at 5.99% and loan origination fees starting at 1%.
  • There is no prepayment penalty in most cases.
  • Seattle Funding Group finances a variety of transaction types including ground-up construction.
  • The firm can fund $300,000 to $15+ million in days, not weeks.
  • Creative loans are available for foreign nationals, land, luxury rentals and other unique real estate assets.
  • Seattle Funding Group has funded over $1 billion and has been in business for over 30 years.


  • Seattle Funding Group’s loan minimums and maximums vary by state, so you may not be able to obtain the loan size you need where you are located.
  • Only loans in AK, AZ, CA, CO, HI, ID, OR, NV, UT, TX, WA are available, so borrowers in other states cannot take advantage of Seattle Funding Group’s competitive programs.

Why Seattle Funding Group is the Best

Seattle Funding Group has operated as a premier Western US bridge lender since 1988 and has funded over $1 billion in loans. Seattle Funding Group’s decades of experience and discretionary capital enable it to close loans in under a week and conduct all processing, underwriting and closing in-house. Seattle Funding Group specializes in short-term construction and renovation loans making the firm a great resource for real estate developers looking for fast funds. The company’s terms are very affordable when compared to other bridge lenders, with rates starting at 5.99% and a 1% loan origination fee.

View our Featured bridge lenders LendingHomeRevere Capital, Emerald Creek Capital.

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