Heat water, buttermilk and honey until warm (100° to 110°F). Pour into large mixer bowl and add yeast; let rest 5 minutes. Add 3 cups flour, salt and oil; beat with electric mixer on low for 30 seconds. Beat on medium-high for 3 minutes.
Stir in as much remaining flour as possible to make a soft dough. Knead on lightly floured surface for 8 to 10 minutes, until smooth and elastic. Shape into a ball. Place in a greased bowl, turning once to coat. Cover and let dough rise in a warm, draft-free place until double, about 1 hour.
Punch dough down and divide into 2 equal portions. Form into loaves; place each in a greased 8 x 4-1/2-inch loaf pan. Cover and let rise until double, about 45 to 60 minutes.
Bake in a preheated 325°F oven for 40 minutes or until done. Remove from pans immediately. Cool on wire rack.