The Spokane mortgage guides
KENDALL YARDS
Updated: September 2026
Home Loans in Kendall Yards, Spokane.Condos & Townhomes
Spokane's only true urban neighborhood, and the one place in the county where the word 'condo' changes which loans work. Here's how the financing sorts out on the north bank.
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or call (509) 230-3765
Home loans in Kendall Yards, Spokane work like anywhere else in the county with one exception: the word "condo" on the listing changes which programs apply, because the lender has to approve the building, not just you. I'm Brad Patshkowski, a mortgage lender with HHL Group, a Division of Canopy Mortgage, LLC.
Twenty years in Spokane County, licensed in Washington and Idaho, I've closed townhomes on Summit Parkway, condos above the shops, and single-family homes along the gorge. This page is how the money works on the north bank.
Kendall Yards in 2026: prices and what's being built
Greenstone's master-planned neighborhood on the north bank of the Spokane River Gorge is the closest thing Spokane has to a walkable urban district: the Centennial Trail out the front door, restaurants and a grocery on Summit Parkway, downtown across the bridge. That pulls a premium. Neighborhood medians ran $645,000 to $700,000 in 2026 against a citywide median near $450,000.
Inside that, three price bands:
- Condos and townhomes, typically $500,000 to $650,000. Modern multi-level units, small footprints, HOA-maintained exteriors.
- Single-family and row homes, from the $500,000s to $1,000,000 and up, with the river-view lots at the top.
- New construction. Greenstone keeps building: an eight-unit condominium called the Hamblen on West Centennial Place, and plans for a 200-unit, six-story apartment building with ground-floor retail on the west end. New inventory means builder incentives, which are a lender question as much as a price question.
Condo or townhome: the question that decides the loan
Before anything else on a Kendall Yards file, I need to know what you're actually buying. Two units that look identical from the sidewalk can finance completely differently.
A fee-simple townhome means you own the land under your unit and the structure on it. It finances like any house: conventional, FHA, VA, jumbo, no project review, HOA dues counted in your ratios and that's it.
A condominium means you own the interior of your unit and a share of the common elements, and the lender has to approve the project as well as you. Conventional lenders review the HOA's budget and reserves, insurance, any litigation, the owner-occupancy percentage, and whether any single investor owns too many units. A project that passes is "warrantable" and finances normally. One that doesn't is "non-warrantable," which means a portfolio loan with a bigger down payment, or no loan at all from most lenders.
FHA on a condo adds a layer. The project has to be on HUD's approved condominium list, or qualify for a single-unit approval: at least five units, a completed project, HOA reserves at 10% of the budget, and owner-occupancy above HUD's floor. Some Kendall Yards buildings clear it and some don't, and the answer changes as buildings turn over.
I check the project the day you send me an address, before you write an offer. It takes a phone call to the HOA and a look at the budget, and it's saved more than one buyer from falling for a unit they couldn't finance the way they planned.
HOA dues and what you can afford
Kendall Yards HOAs do more than most: landscaping, water, sewer, garbage, and in some buildings a fitness center. That's real value, but the underwriter doesn't net it against your utility savings. HOA dues go into your monthly housing cost alongside principal, interest, taxes, and insurance, and they reduce what you qualify for the same way a car payment does. Rough math at current rates: every $100 a month in dues is about $14,000 less purchase price. A $350 assessment costs roughly $50,000 of buying power.
That's not a reason to avoid the neighborhood. It's a reason to run the affordability math with the actual dues for the actual building before you fall for a unit, which I do on every Kendall Yards file.
New construction and the builder's lender
Buying new from Greenstone means the preferred-lender conversation: use their lender, get a credit toward closing costs or a rate buydown. Sometimes that's a real discount. Sometimes the rate has been marked up to fund the credit, and you can't tell which from the flyer.
Bring me the incentive sheet and their Loan Estimate. I'll issue mine for the same loan amount the same day and put them side by side: rate, APR, Section A costs, the credit. If theirs wins, I'll say so; I'd rather lose the file than have you overpay for thirty years. If mine wins, the builder's incentive usually still applies to the price or the finishes even when you don't use their lender.
New construction with a completion date months out also needs a rate lock strategy, not just a pre-approval. Extended locks and float-down options exist, and we'll pick one once we know the completion date.
River-view homes and jumbo
The single-family homes along the gorge are the top of the Spokane market, and several clear the $832,750 conforming limit. Above that it's a jumbo loan: stronger reserves, lower debt ratios, pricing that's often closer to conventional than buyers expect, and 10% down realistic on a strong file. The appraisal is the slow part. View homes in a small neighborhood have thin comparable sales, so I build extra time into every Kendall Yards jumbo.
Investors: DSCR and the occupancy problem
Kendall Yards rents run among the highest in the city, and a DSCR loan qualifies a rental on the property's rent instead of your tax returns. Townhomes and single-family units are straightforward. Condos carry a wrinkle: every investor-owned unit nudges the building's owner-occupancy percentage down, and if it drops below the conventional and FHA floors, the whole project becomes harder to finance for the next buyer, which affects your resale. I check the HOA's occupancy numbers before quoting an investor file here.
How working with me goes
My office is at 1227 N Argonne Rd in Spokane Valley; most Kendall Yards clients handle everything electronically and by phone. Call or text (509) 252-4000, or start with the assistant on this site and get estimated payment numbers in a few minutes without a credit pull.
From there: real numbers the same day, a pre-approval usually within 24 hours of receiving your documents, the project review on any condo, and a rate lock once you're under contract.
If you've found a unit and the listing says "condo," send me the address before you write. If you're comparing a Greenstone incentive against an outside lender, send me both sheets. I'm the mortgage lender for all of Spokane County, and Kendall Yards is one of the places where the details decide the loan.
On the record
Frequently asked questions.
What do homes cost in Kendall Yards in 2026?
Median prices in the neighborhood sit between $645,000 and $700,000, well above the citywide median of about $450,000. Townhomes and condos typically sell in the $500,000 to $650,000 range, and single-family homes and river-view properties run from the $500,000s to over $1,000,000. New construction from Greenstone continues to add inventory, including an eight-unit condominium building and a planned 200-unit apartment project on the west end.
Is financing a condo in Kendall Yards different from a townhome?
Yes, and it's the most important question on a Kendall Yards file. A fee-simple townhome, where you own the land under your unit, finances like any house. A condominium, where you own the interior and a share of the common areas, requires the lender to review the whole project: owner-occupancy percentage, HOA reserves and budget, insurance, litigation, and how many units one investor owns. FHA additionally needs the project on HUD's approved list or a single-unit approval. Tell me the address and I'll check the project before you write an offer.
Can I use an FHA loan on a Kendall Yards condo?
Sometimes. FHA finances condos only in projects that are either on HUD's approved condominium list or that qualify for a single-unit approval, which requires at least five units, a completed project, adequate HOA reserves, and owner-occupancy above HUD's floor. Some Kendall Yards buildings qualify and some don't. The 2026 FHA limit of $541,287 also caps the loan, so FHA fits the lower-priced condos and townhomes, not the river-view homes.
How do HOA dues affect how much I can borrow?
They count against you like a car payment. HOA dues go into your monthly housing cost alongside principal, interest, taxes, and insurance, so a $350 monthly assessment reduces the purchase price you qualify for by roughly $50,000 at current rates. Kendall Yards HOAs cover things a single-family owner pays separately, like landscaping, water, sewer, and garbage, so the comparison isn't apples to apples, but the underwriter counts the dues either way.
Should I use the builder's preferred lender in Kendall Yards?
Compare, don't assume. Builder incentives tied to a preferred lender are sometimes a genuine discount and sometimes a rate that's been marked up to fund the credit. Bring me the incentive sheet and their Loan Estimate; I'll issue mine for the same loan amount the same day so you can see the real cost over the years you'll own the home. If theirs wins, I'll say so.
Do river-view homes in Kendall Yards need a jumbo loan?
The ones above $832,750 do, and several of the single-family homes along the gorge clear that line. Jumbo loans want stronger reserves and lower debt ratios, but they often price closer to conventional than buyers expect, and 10% down is realistic on a strong file. Appraisals on unique view properties take longer because comparable sales are thin, and I build that into the timeline.
Can I buy a Kendall Yards unit as a rental?
Yes, with the right loan and the right building. A DSCR loan qualifies the property on its own rent rather than your tax returns, and Kendall Yards rents are among the highest in the city. The catch is the project review: too many investor-owned units can push a condo project out of conventional eligibility, which affects your loan and the resale market for every owner in the building. Check the HOA's occupancy numbers first.
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