Mortgage Calculator — Washington
Pre-filled with Washington's average home price of $555000, property tax rate of 0.84%, and average insurance of $1200/year. Adjust any value below.
1 Loan Details
2 Monthly Costs (Washington averages pre-filled)
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Required when down payment < 20%
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Total Cost
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Amortization Schedule
Full month-by-month payment breakdown
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Washington Housing Market
Washington state has no income tax, which helps offset its above-average home prices. The Seattle metro area drives the state's high median, while Eastern Washington cities like Spokane remain significantly more affordable.
Affordability in Washington
Seattle's tech economy has pushed home prices to median values exceeding $700,000 in many neighborhoods. The state's lack of income tax is attractive but does not fully compensate for high home acquisition costs in western Washington.
Key Markets
First-Time Buyer Programs in Washington
Washington State Housing Finance Commission (WSHFC)
House Key loan program — below-market 30-year fixed rate for first-time buyers. Income limits apply by county.
Home Advantage Down Payment Assistance
Up to 4% of loan amount as deferred second mortgage (0% interest). Repaid when you sell or refinance.
HomeChoice Down Payment Assistance
Up to $15,000 for buyers with disabilities or family members with disabilities. 0% interest, deferred.
Property Tax in Washington
Washington property taxes average 0.84% effective rate statewide but vary by county. King County (Seattle) runs 0.8–1.0%. Senior/disabled exemption available. Levy lid lift limitations cap annual increases at 1% without voter approval.
Washington Conforming Loan Limit
$1,089,300 in King, Pierce, and Snohomish counties (Seattle metro). Standard $766,550 in Eastern Washington.
Closing Costs in Washington
Washington closing costs typically run 2–4%. Key cost: Real Estate Excise Tax (REET) — graduated from 1.1% to 3.0% of sale price based on value tier. On a $555K home: approximately $6,100. No state income tax keeps overall tax burden competitive.
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