Washington mortgage market at a glance
| Item | Washington |
|---|---|
| 2026 conforming loan limit | $832,750 baseline; higher in King, Pierce, and Snohomish counties |
| 2026 FHA loan limit | $541,287 to Seattle-metro levels by county |
| Foreclosure process | Non-judicial (deed of trust) |
| State housing agency | Washington State Housing Finance Commission (WSHFC) |
Washington is Seattle’s market plus everything else. The Puget Sound counties get high-cost loan limits and tech-money competition. Spokane and the rest of the state still offer something resembling normal prices. No state income tax helps everyone’s qualifying math.
Loan limits in Washington
King, Pierce, and Snohomish counties, the Seattle metro, are FHFA high-cost areas with 2026 conforming limits well above the $832,750 baseline that covers the rest of the state. That decides whether your Bellevue condo is a conforming loan or a jumbo loan. Jumbo pricing in a competitive market is worth avoiding if you can structure under the limit.
FHA limits track the same geography, from the $541,287 floor in eastern Washington to far higher Seattle-metro figures. An FHA loan is still a live option for Puget Sound condos, not just Spokane starters.
First-time buyer programs in Washington
The Washington State Housing Finance Commission, WSHFC, runs the state’s homebuyer programs. Home Advantage is the workhorse: a fixed-rate first mortgage paired with down payment help, usually a deferred-payment second loan repaid when you sell or refinance. House Key Opportunity offers below-market rates for lower-income buyers, and specialty help programs serve veterans, buyers with disabilities, and specific counties. WSHFC requires a homebuyer education seminar, free and worth it. Everything originates through participating lenders. Income and price caps apply. Details at wshfc.org.
What closing on a home costs in Washington
Washington’s signature closing cost is the real estate excise tax, REET, a graduated tax whose rate climbs with the sale price, plus local portions. Sellers customarily pay it, but in negotiations everything flows into the price you pay. Closings run through escrow companies. Attorneys are optional. Title and escrow fees in the Seattle metro run higher than the national norm, like everything else there.
Foreclosure is non-judicial. Deeds of trust go to trustee sale without court involvement, with state-mandated mediation and notice protections layered on for owner-occupants.
How to get the best rate in Washington
- Quote three lenders, including a Washington credit union. Benchmark with our best mortgage lenders guide.
- Price Home Advantage against retail offers. The DPA second can preserve your reserves.
- Model the real payment in our mortgage calculator. Seattle-area insurance and taxes add up.
- Use the down payment guide to decide between help and cash down.
- Near a county line or the conforming limit? Confirm both before you write the offer. The financing changes with the map.
For rates, loan types, and lender rankings, head to our mortgages hub.