US mortgage calculator (all states)
Washington state's median home price is approximately $490,000 in early 2026, with Seattle and surrounding suburbs significantly higher. Washington is one of nine states with no state income tax, making mortgage interest and property tax deductions more valuable for buyers. Current 30-year fixed mortgage rates in Washington are around 6.2–6.5% in 2026. Property taxes run approximately 0.8–1.0% of home value, with annual taxes on the median home around $3,900–$4,900. The Washington State Housing Finance Commission (WSHFC) offers first-time buyers down payment assistance averaging around $10,000 through Home Advantage and House Key Opportunity programs.
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State: Washington (median-style home price, tax, and insurance pre-filled — edit as needed)
Illustrative property tax and insurance — King County levies and WSHFC eligibility vary. Not a loan offer.
Dollar amount. PMI applies when under 20% of home price.
PMI is estimated at 0.5% of the loan amount per year when your down payment is below 20% of the purchase price.
Total monthly payment
$3,026
Amortization summary: fixed rate; effective rate equals your quoted rate. Taxes, insurance, PMI, and HOA are shown separately from P&I.
| Year | Median Price | Change YoY |
|---|---|---|
| 2024 | ~$498,000 | +4.2% |
| 2025 | ~$492,000 | -1.2% |
| Early 2026 | $490,000 | -0.4% |
| Home Value | Effective Rate | Annual Tax |
|---|---|---|
| $350,000 | ~0.9% | ~$3,150 |
| $490,000 | ~0.9% | ~$4,410 |
| $800,000 | ~0.9% | ~$7,200 |
Washington's effective property tax rate of 0.8–1.0% is moderate compared to other western states. On the statewide median home of $490,000, annual property taxes are approximately $3,900–$4,900. King County (Seattle) has slightly higher effective rates. Washington has no state income tax, which partially offsets the property tax burden for high-income earners.
The Washington State Housing Finance Commission (WSHFC) administers two main programs. The Home Advantage program offers 30-year fixed mortgages at below-market rates — typically 0.25–0.75% below market — for first-time buyers and some move-up buyers. The House Key Opportunity program targets lower-income buyers with deeper subsidies. Down payment assistance through WSHFC averages approximately $10,000, provided as zero-interest second mortgages or grants, with some programs capping assistance at 3–5% of purchase price. Income limits typically range from $100,000–$175,000 depending on county.
| Term | Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| 30-year fixed | 6.35% | $2,439 | $487,416 |
| 15-year fixed | 5.85% | $3,283 | $199,524 |
Illustrative principal & interest only — excludes taxes, insurance, and PMI. Use the calculator above for your scenario.
Washington state's median home price is approximately $490,000 in early 2026. Seattle metro homes average $700,000–$900,000, while Tacoma averages around $480,000 and Spokane around $320,000. Prices dipped slightly in 2025 but remain well above 2022 levels.
Washington state's effective property tax rate is approximately 0.8–1.0% of home value. On a $490,000 home, annual property taxes are approximately $3,900–$4,900. King County (Seattle area) tends to have slightly higher effective rates due to local levies.
Current 30-year fixed mortgage rates in Washington state are approximately 6.2–6.5% in 2026. WSHFC program participants can access rates 0.25–0.75% below market through approved lenders.
The Washington State Housing Finance Commission (WSHFC) offers first-time buyers below-market 30-year fixed mortgage rates plus down payment assistance averaging $10,000, provided as zero-interest second mortgages or grants. Programs include Home Advantage and House Key Opportunity. Income limits vary by county, typically $100,000–$175,000.
Conventional loans require 5–20% down. FHA loans require 3.5%. VA loans offer 0% for eligible veterans. On Washington's median home of $490,000, a 5% down payment is $24,500 and 20% is $98,000. WSHFC assistance can cover a significant portion of the down payment for qualifying buyers.
Most Washington lenders follow standard guidelines: maximum DTI of 43–45% for conventional loans and up to 50% for FHA loans. With Washington's high home prices in metro areas, keeping existing debt low before applying significantly improves qualification odds.
Educational estimates only. Not a lender pre-approval.