Conventional Investment in Olympia

One structure covers nearly the whole market. As of July 2026, seven of the eight Thurston County cities we serve run from $490,346 in Yelm to $536,583 in Olympia, a band of about $46,000. There is no luxury outlier and no bargain tier in that group, so a routine conventional investor loan handles the metro without switching structures by city. See conventional investment terms or send us the address and purchase price.

Roughly $390,000 to $430,000 across most of the metro, as of mid-2026. At our maximum 80% LTV, a Yelm purchase near the metro's $490,346 mid-tier value finances about $392,000, and an Olympia purchase near $536,583 finances about $429,000. That leaves a 20% down payment plus closing costs on either end of the metro's price band. Run your exact address and purchase price and we'll size the loan. See conventional investment terms.

It depends on the school district more than the city. The three-city core runs close together: Olympia (Olympia SD) totals $10.463 per $1,000 of assessed value, Lacey $10.371, and Tumwater roughly $9.933 to $10.114, all near 1.0% of assessed value. Yelm, if it sits inside Yelm School District 2, totals $7.458 per $1,000, about 29% less tax on the same value. Confirm the parcel's tax code area with the Assessor before you underwrite the deal; the school district attached to the address decides the bill more than the city limit does. See conventional investment terms.

It helps while you hold, and it is more mixed on the exit. Washington has no personal or corporate income tax on income earned today, so the rent an Olympia-area property produces isn't taxed at the state level while you hold it. A separate 9.9% tax on individual income above $1,000,000, which expressly reaches rental and pass-through income, is scheduled for tax years beginning 2028 and is under legal challenge, so it does not touch a file you write today. On the way out, Washington's capital gains excise tax carries an explicit real estate exclusion: real property transferred by a recorded deed or similar instrument sits outside the tax entirely. That is not the same as a tax-free exit. Washington charges a graduated real estate excise tax on the sale itself, starting at 1.10% of the price and rising in tiers, plus a local add-on of 0.50% in every Thurston County jurisdiction except Rainier at 0.25%. Selling the entity that owns the property instead of the deed can also change the capital gains picture, so talk to your Washington CPA before you structure an exit either way. See conventional investment terms.

When your file documents income and the property's rent alone wouldn't carry the loan comfortably. Gross rent-to-value in this metro runs modest by Puget Sound standards, from 4.48% in Tumwater and 4.49% in Olympia up to 5.09% in Lacey and 5.47% in Yelm (not cap rates, just a relative read on rent against value). A property on the lower end of that range can still qualify easily on a documented-income conventional file, where a rent-driven DSCR loan would need the property to carry more of the underwriting itself. If your income documents cleanly, conventional is usually the lower-cost structure; DSCR trades that documentation for speed and rent-based qualifying. Ask us to run both side by side.

Credit starts at 580 on this program. That is the lowest floor of anything we write, and it is the trade for a fully documented income file: tax returns and income documents are part of conventional underwriting, unlike our asset-based products. Leverage runs up to 80% LTV on a 30-year fixed or ARM, purchase or refinance, on non-owner-occupied investment property. Send the Olympia-area address and we will tell you quickly whether the documented-income route is the cheaper one for you. Subject to underwriting.

Conventional investment is usually the answer, because it starts at 580. A DSCR rental loan and a bank statement loan both start at 640, so a score in the 500s or low 600s points toward this program instead, provided your income documents cleanly. On the asset-based side, fix and flip, bridge, and construction carry no minimum score at all, and weaker credit there is usually offset with lower leverage rather than a decline. Across a metro this tightly banded on price, the structure you qualify for matters more than the city you buy in. Subject to underwriting.