The Spokane mortgage guides
PERRY DISTRICT
Updated: September 2026
Home Loans in Spokane's Perry District.First Homes & Bungalows
Bungalows under the city median, a main street you can walk to, and more first purchases per block than anywhere else I lend. The Perry District is where Spokane's first-time buyers actually land.
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or call (509) 230-3765
Home loans in Spokane's Perry District are mostly first mortgages for first homes: bungalows under the citywide median, assistance that covers the down payment, and the occasional duplex bought so the rent helps pay for it. 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 more first purchases in the blocks around Perry Street than in any other neighborhood in the city. This page is how those files work.
The Perry District in 2026
South Perry Street between roughly 14th and 29th is one of Spokane's oldest neighborhoods and, over the last fifteen years, one of its most walkable: restaurants, coffee, a pub, the Thursday farmers market from May through September, and Grant Park in the middle of it. The housing stock is small historic homes, Craftsman bungalows from before 1940, and 1970s split-levels on the edges, with an uptick lately in new townhomes and small multi-family projects.
Prices sit under the city. Median values in the South Perry area ran about $350,000 to $368,000 in 2026 against a citywide median near $450,000, with single-family listings from roughly $279,000 to $539,000. The renovated bungalows nearest Perry Street are the top of that range, $425,000 to $550,000. Lots are small, a tenth to a sixth of an acre, which is exactly why the neighborhood stays affordable relative to the South Hill above it.
The first-time buyer stack that works here
At Perry District prices the choice between FHA and conventional is a real contest, and it turns on your credit score more than anything else.
On a $375,000 bungalow:
| FHA 3.5% down | Conventional 3% down | |
|---|---|---|
| Down payment | $13,125 | $11,250 |
| Upfront mortgage insurance | 1.75%, financed | none |
| Monthly mortgage insurance | 0.55%/yr for life of loan | PMI, priced by credit score, drops off at 20% equity |
| Best for | Scores in the 600s, thinner credit files | Scores above roughly 700 |
Then the assistance. WSHFC's Home Advantage DPA lends up to 5% of your first mortgage as a 0% deferred second, which is about $18,000 on this purchase, more than the entire down payment on either program. The Opportunity program offers up to $15,000 for income-eligible first-time buyers. Add a seller credit toward closing costs, which Perry District sellers have been negotiating in 2026, and buyers regularly close with very little of their own cash. The first-time home buyer guide and the down payment assistance guide have the full rundown; the step that matters is checking every program before we talk about a payment.
One thing the Perry District doesn't have is USDA. It's inside the city, so the zero-down programs are VA for eligible veterans and the near-zero stack above. If true zero down is the priority, Deer Park, Cheney, and Nine Mile Falls map USDA-eligible.
House-hacking a duplex near Perry Street
The older grid east of Perry Street has a fair number of duplexes and converted houses, and the walkable location keeps them rented. FHA finances two- to four-unit properties with 3.5% down when you live in one unit, and the rent from the other units counts toward qualifying. Conventional does the same with 5% down on a duplex. The result is a first home where a tenant pays a large share of the mortgage, which is the cheapest way into Spokane real estate I know of.
The Perry District also has more accessory dwelling units than most of the city, thanks to the small lots and the city's ADU rules. An existing ADU can count rental income on some programs and not others, and a planned one can't count until it exists, so tell me about it up front.
What the appraiser will flag on a 1910 bungalow
The same short list I give South Hill buyers applies here, because it's the same era of house:
- Peeling paint on a pre-1978 home. FHA and VA require it scraped and repainted before closing. On conventional it's a note, not a requirement.
- Old electrical. Knob-and-tube or an undersized panel matters more to your insurer than your lender, and an insurer refusing to bind stops a closing faster than underwriting does. Get the insurance quote early.
- The sewer line. Clay side-sewers fail with age. A sewer scope costs a couple hundred dollars and is the best inspection money in the neighborhood.
- Buried oil tanks. Decommissioning is routine, but it's a line item.
None of it stops a loan. On my Perry District files the sewer scope and the insurance quote get ordered the same week as the appraisal, so nothing surprises you after the inspection period closes.
How working with me goes
My office is at 1227 N Argonne Rd in Spokane Valley; most Perry District 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, every assistance program checked, and a rate lock once you're under contract.
If you're renting near Perry Street and wondering whether the bungalow down the block is within reach, it usually is, and I'll show you the number. I'm the mortgage lender for all of Spokane County, and the Perry District is where a lot of first files start.
On the record
Frequently asked questions.
What do homes cost in the Perry District in 2026?
Median values in the South Perry area hover around $350,000 to $368,000, below the citywide median of about $450,000, with single-family homes listing from roughly $279,000 to $539,000. The renovated pre-1940 bungalows and Craftsman cottages closest to Perry Street run $425,000 to $550,000. Lots are small, a tenth to a sixth of an acre, which is part of why the entry price stays lower than the South Hill proper.
What's the best loan for a first home in the Perry District?
At Perry District prices, it's a real contest between FHA at 3.5% down and conventional at 3% down, and the answer turns on your credit score. Above roughly 700, conventional usually wins because its mortgage insurance is cheaper and drops off at 20% equity. Below that, FHA's forgiving underwriting and lower mortgage insurance at lower scores often wins. Either one stacks with WSHFC down payment assistance. I price both and show you the payments.
Can I use down payment assistance in the Perry District?
Yes. WSHFC's Home Advantage DPA lends up to 5% of your first mortgage as a 0% deferred second, and the Opportunity program offers up to $15,000 for income-eligible first-time buyers. On a $375,000 Perry District bungalow that can cover the entire FHA down payment with money left toward closing costs. Seller credits stack on top, and Perry District sellers have been negotiating them in 2026.
Can I buy a duplex in the Perry District and live in one side?
Yes, and it's one of my favorite Perry District files. FHA finances two- to four-unit properties with 3.5% down when you live in one unit, and the rent from the other units counts toward qualifying. Conventional does the same with 5% down on a duplex. The older grid east of Perry Street has a fair number of duplexes and converted houses, and the walkable location keeps them rented.
What does a lender look for on a 1910 bungalow?
The same short list as the South Hill: peeling paint on a pre-1978 home, which FHA and VA require fixed before closing; old electrical like knob-and-tube, which matters more to your insurer than your lender; the clay sewer line to the street, worth a $200 scope on every Perry District purchase; and any buried oil tank from the original heating system. None of it stops a loan. It changes the inspection list and the negotiation.
Is the Perry District USDA-eligible?
No. It's inside the city of Spokane, which the USDA map treats as urban. The zero-down options here are VA for eligible veterans and the near-zero stack of FHA or conventional plus WSHFC assistance and a seller credit. If zero down is the priority and you're flexible on location, Deer Park, Cheney, and Nine Mile Falls map USDA-eligible.
Which schools serve the Perry District?
Spokane Public Schools. Grant Elementary sits in the heart of the neighborhood, and the district's boundary map is the source of truth for which middle and high school a given address feeds. Lewis and Clark High School serves most of the district.
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