Set your oven to 350°F (175°C). Grease your loaf pan well with butter.
You can also line it with parchment. This prevents sticking and helps removal.
Combine flour, baking soda, and spices together. Add salt to the mixture.
Whisk everything until well blended. Set this bowl aside for now.
Beat sugar, pumpkin, oil, and eggs together. Mix until smooth and well combined.
Add water and stir gently. The batter should look creamy.
Pour wet ingredients into dry ingredients. Stir gently until just combined.
Don't overmix the batter here. Lumps are totally okay.
Beat cream cheese until smooth and fluffy. Add sugar, egg, and vanilla extract.
Mix until creamy and no lumps remain.
Pour half the pumpkin batter into pan. Spread the cream cheese mixture on top.
Add remaining pumpkin batter over cream cheese. Use a knife to swirl gently.
Bake for 60-70 minutes until done. Insert a toothpick in the center.
It should come out mostly clean. Let it cool for 10 minutes. Remove from pan and cool completely.