Washington Mortgage Rates
Find the best Washington mortgage rates and Seattle home loan options. Compare current WA mortgage rates, explore local lenders, and calculate your payments with our Washington-specific tools.
Washington Mortgage Calculator
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Current Washington Mortgage Rates by Loan Type
30-Year Fixed Conventional
stable15-Year Fixed Conventional
downFHA 30-Year Fixed
stableVA 30-Year Fixed
downUSDA Rural Development
stableJumbo Loans
upWashington Housing Market Overview
Statewide Market Stats
Seattle
King County
Spokane
Spokane County
Tacoma
Pierce County
Vancouver
Clark County
Bellevue
King County
Everett
Snohomish County
Top Mortgage Lenders in Washington
Washington Federal Bank
Special Programs:
- WA Bond Program
- First-time buyer programs
- Construction loans
Strengths:
- Strong Washington presence
- Local expertise
- Competitive rates
Considerations:
- Limited national presence
- Higher closing costs in some areas
HomeStreet Bank
Special Programs:
- HomeStart program
- Community Development loans
- Jumbo loans
Strengths:
- Regional expertise
- Personal service
- Community focus
Considerations:
- Limited product variety
- Slower processing times
Umpqua Bank
Special Programs:
- First-time buyer assistance
- VA loan expertise
- Investment property loans
Strengths:
- West Coast expertise
- Good technology platform
- Competitive jumbo rates
Considerations:
- Complex underwriting
- Variable customer service
Guild Mortgage
Special Programs:
- VA loans
- FHA loans
- USDA rural loans
- Washington Bond loans
Strengths:
- Excellent customer service
- Fast processing
- Competitive rates
Considerations:
- Limited branch network
- Stricter underwriting standards
Washington State Credit Unions
Special Programs:
- Member benefits
- First-time buyer programs
- Local community loans
Strengths:
- Personal service
- Lower fees
- Member-focused
Considerations:
- Membership requirements
- Limited product options
Washington Homebuyer Programs & Incentives
Washington State Housing Finance Commission (WSHFC)
Washington State Housing Finance Commission
Program Benefits
- Below-market interest rates
- Down payment assistance loans
- House Key Program
- Tax credit certificates available
Application Process:
Through participating WSHFC approved lenders
Eligibility Requirements
- First-time homebuyer (or not owned home in past 3 years)
- Primary residence in Washington
- Complete homebuyer education course
- Meet income and purchase price limits by area
House Key Program
WSHFC
Program Benefits
- Below-market interest rates
- Down payment assistance up to $30,000
- Closing cost assistance
- Available statewide
Application Process:
Through House Key approved lenders only
Eligibility Requirements
- First-time homebuyer or repeat buyer in targeted areas
- Property must be in Washington
- Meet income requirements by county
- Complete homebuyer education
USDA Rural Development - Washington
USDA Rural Development Washington
Program Benefits
- No down payment required
- No monthly mortgage insurance
- Below-market interest rates
- Available in eligible rural areas
Application Process:
Through USDA approved lenders in Washington
Eligibility Requirements
- Property in USDA eligible area
- Income below area limits
- Primary residence only
- U.S. citizenship or permanent residency
Washington Counties Mortgage & Economic Data
King County (Seattle)
Major Employers:
Pierce County (Tacoma)
Major Employers:
Snohomish County
Major Employers:
Spokane County
Major Employers:
Clark County (Vancouver)
Major Employers:
Whatcom County (Bellingham)
Major Employers:
Washington Real Estate Market Trends & 2024 Outlook
Current Market Trends
- Seattle metropolitan area driving statewide price growth
- Tech sector expansion supporting high-end home demand
- Remote work trends increasing Eastern Washington demand
- Housing shortage in urban areas creating seller's market
- Strong population growth from California migration
2024 Market Projections
Market Challenges
- Extremely high home prices in Seattle and Bellevue
- Limited inventory in desirable neighborhoods
- High cost of construction materials
- Regulatory constraints on new development
Market Opportunities
- Strong tech sector creating high-income job growth
- Excellent first-time buyer programs through WSHFC
- Growing Eastern Washington markets offer affordability
- Strong military presence supporting VA loan market
Washington Mortgage Rates FAQ
What are current mortgage rates in Washington?
Current Washington mortgage rates range from 6.375% for 15-year fixed to 7.185% for jumbo loans. 30-year fixed conventional loans average 7.125%, FHA rates average 6.875%, and VA loans average 6.625%. Seattle area rates are competitive due to strong lender competition and high-income tech workers.
What is the median home price in Washington?
The median home price in Washington is $785,000 as of 2024. Seattle homes average $925,000, Bellevue averages $1,285,000, Spokane averages $385,000, while Tacoma averages $485,000. Prices vary dramatically between tech-heavy areas and rural regions.
What Washington first-time homebuyer programs are available?
Washington offers WSHFC House Key Program with down payment assistance up to $30,000, below-market interest rates, and tax credit certificates. USDA rural loans are available in eligible areas throughout Washington, along with VA loans and FHA loans.
Which Washington areas have the best mortgage rates?
Mortgage rates are generally consistent statewide, but Seattle, Tacoma, and Spokane metro areas have the most lender competition. The tech industry growth in Seattle creates strong demand for competitive mortgage products and specialized jumbo loan programs.
How do Washington property taxes affect mortgage payments?
Washington property tax rates vary by county from 1.05% to 1.28% of assessed value. King County (Seattle) has lower rates at 1.05%, while Spokane County has higher rates at 1.28%. Property taxes are typically included in monthly mortgage payments through escrow accounts.
What credit score do I need for a Washington mortgage?
Minimum credit scores for Washington mortgages vary by loan type: Conventional loans typically require 620+, FHA loans accept scores as low as 580, VA loans often accept 580+, and WSHFC programs require 620+. Higher scores (740+) qualify for the best rates, especially important for jumbo loans.
Washington Mortgage Resources
Ready to Buy a Home in Washington?
Use our Washington-specific mortgage calculator to estimate your payments with current rates, local taxes, and insurance costs. Explore Washington WSHFC programs to maximize your buying power.