Washington Mortgage Calculator & Rates Guide (2026)
Estimate your monthly payment on a Washington home with Washington-specific property tax, insurance, PMI, and HOA. Median home price in Washington is roughly $600,000, and the average effective property tax rate is about 0.87%.
Washington has no state income tax, but the graduated REET on higher-priced sales makes it one of the most expensive states for sellers above the $1.5M threshold. The calculator below is pre-filled with Washington's median home price and an estimated property tax bill of roughly $5,220 per year (about 0.87% of $600,000). Adjust the home price, down payment, and rate to match your real-world Washington scenario — your monthly payment updates instantly.
Loan details
Payment breakdown
- Principal & Interest$3,113
- Property Tax$435
- Home Insurance$79
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Washington mortgage and housing snapshot
| Median home price | $600,000 |
|---|---|
| Average effective property tax rate | 0.87% of home value |
| Estimated annual property tax on median home | $5,220 (~$435/mo escrowed) |
| Average homeowners insurance premium | $950 / year |
| 2026 conforming loan limit (most counties) | $1,209,750 |
| Transfer / recording tax | Washington's state Real Estate Excise Tax (REET) is graduated: 1.1% on the first $525,000, 1.28% on $525K-$1.525M, 2.75% on $1.525M-$3.025M, and 3% above $3.025M — customarily paid by the seller, plus local REET of 0.25%-0.5% in many jurisdictions. |
| Homestead / property tax cap | Washington offers a Property Tax Exemption for homeowners 61+ or disabled with income below the county threshold, which can fully exempt the home from regular levies and freeze the assessed value. |
Figures are 2025/2026 approximations from public data (Census, NAR, FHFA, NAIC, Tax Foundation). Use them for planning; confirm exact tax bills, insurance, and conforming limits with your lender, insurer, and county assessor.
Why Washington's housing math is different
Property tax burden. Washington's average effective property tax rate of about 0.87% of home value sits well below the U.S. national average of roughly 1.0%. Washington offers a Property Tax Exemption for homeowners 61+ or disabled with income below the county threshold, which can fully exempt the home from regular levies and freeze the assessed value. On the median Washington home, that translates to roughly $5,220 a year — money that's escrowed into your mortgage payment whether you notice it or not.
Insurance and disaster risk. The typical Washington homeowners policy runs about $950 per year. That's well below the national average, helping Washington stay one of the friendlier states for total monthly housing cost.
Closing-cost reality. Washington's state Real Estate Excise Tax (REET) is graduated: 1.1% on the first $525,000, 1.28% on $525K-$1.525M, 2.75% on $1.525M-$3.025M, and 3% above $3.025M — customarily paid by the seller, plus local REET of 0.25%-0.5% in many jurisdictions. Add roughly 2-3% of the price for typical lender fees (origination, appraisal, title, escrow), and Washington buyers should plan for total closing costs in the 3-5% range on top of the down payment.
Loan-limit context. The 2026 conforming loan limit for most counties in Washington is $1,209,750. Several high-cost Washington counties qualify for the FHFA's high-cost ceiling, which keeps a lot of buyers below the jumbo threshold even at premium price points.
Common loan types in Washington
The default for most Washington buyers with 5%+ down and a 620+ credit score. Loans up to $1,209,750 (most counties) avoid jumbo pricing. PMI is required under 20% down and auto-cancels at 22% equity.
Backed by the Federal Housing Administration. Low 3.5% down with credit scores down to 580. Popular with first-time Washington buyers, but FHA mortgage insurance (MIP) usually stays for the life of the loan unless you put 10%+ down.
Zero-down loans for eligible active-duty service members, veterans, and qualifying surviving spouses. No PMI and competitive rates. Washington veterans should compare VA pricing against conventional — the no-PMI advantage often wins below 20% down.
Zero-down loans for buyers in USDA-designated rural and many suburban areas with moderate incomes. Washington's urban metros are usually outside USDA-eligible zones, but smaller-town and suburban-fringe properties may still qualify.
Run any of these scenarios in the calculator above by adjusting the down payment and rate. For a side-by-side, see our FHA vs. conventional, VA loan, and USDA loan guides.
Washington mortgage FAQ
What are typical mortgage rates in Washington in 2026?
Mortgage rates in Washington closely track national averages because most home loans are sold to Fannie Mae, Freddie Mac, or government-backed agencies that price loans on a national basis. Your actual rate depends far more on your credit score, down payment, loan term, and discount points than on the state you live in. Use the calculator above with your target rate to see how a small rate move changes your Washington monthly payment.
How much is property tax on a typical home in Washington?
Washington's average effective property tax rate is approximately 0.87% of home value. On a median $600,000 home in Washington, that works out to roughly $5,220 per year, or about $435 per month escrowed into your mortgage payment. Actual bills vary by county and city.
What is the 2026 conforming loan limit in Washington?
For most counties in Washington, the 2026 conforming loan limit for a one-unit home is $1,209,750. Loans above that are 'jumbo' loans and typically have stricter credit and down-payment requirements. Some high-cost counties in Washington may use a higher limit set by the FHFA — check your specific county before locking a rate.
How much homeowners insurance should I budget for in Washington?
The average annual homeowners insurance premium in Washington is roughly $950. Coastal, wildfire, hail, and flood-prone areas can be substantially higher. Your lender will require proof of coverage at closing, and the premium is typically escrowed monthly along with property tax.
Do I have to pay PMI on a Washington mortgage?
PMI rules are federal, not state-specific. Most conventional Washington mortgages require private mortgage insurance when your down payment is below 20% of the home's price, typically 0.3%-1.5% of the loan amount per year. PMI auto-cancels at 22% equity per the federal Homeowners Protection Act. FHA loans use MIP instead, and VA and USDA loans skip PMI entirely.
What transfer or recording taxes do Washington buyers and sellers pay?
Washington's state Real Estate Excise Tax (REET) is graduated: 1.1% on the first $525,000, 1.28% on $525K-$1.525M, 2.75% on $1.525M-$3.025M, and 3% above $3.025M — customarily paid by the seller, plus local REET of 0.25%-0.5% in many jurisdictions.
Is there a homestead exemption in Washington?
Washington offers a Property Tax Exemption for homeowners 61+ or disabled with income below the county threshold, which can fully exempt the home from regular levies and freeze the assessed value.
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Ready to find your real rate?
Compare personalized rates from top lenders. Most checks are a soft credit pull only.
Compare 5+ Lenders
See personalized rate quotes from multiple top lenders in one place.
- ✓Soft credit pull only
- ✓5+ competing rate quotes
- ✓Free, no obligation
Get Your Rate in 60 Seconds
Modern, fully online lender with fast pre-approvals.
- ✓100% online application
- ✓Pre-approval in minutes
- ✓No origination fees on most loans
America's Largest Mortgage Lender
Established direct lender with a full range of loan products.
- ✓Wide loan-product selection
- ✓Full-service support
- ✓Highly rated for borrower satisfaction
Advertiser disclosure: cards above are sponsored. We may earn a commission when you compare lenders through our partners — at no cost to you. Compensation does not influence which lenders are shown.