Down Payment Calculator for Washington

Down Payment Planning in Washington

With a median home value of $530,000 in Washington, here's what different down payment tiers look like:

• 3% (First-time buyer programs): $15,900
• 3.5% (FHA minimum): $18,600
• 10% (Avoid PMI with some lenders): $53,000
• 20% (Eliminate PMI entirely): $106,000

Conforming Loan Limits in Washington

The conforming loan limit in Washington is $1,089,300. King County qualifies for high-cost limits. Most other Washington counties are at the standard limit. If your loan exceeds this, you'll need jumbo financing, which typically requires a 20%+ down payment.

Closing Costs to Plan For

Beyond your down payment, budget for closing costs of around $3,300 in Washington. Washington charges a Real Estate Excise Tax (REET) ranging from 1.1% to 3% of sale price (progressive based on value). This is among the higher transfer tax structures nationally for luxury-priced homes.

Property Tax Impact

Washington's effective property tax rate is 0.87% (average annual bill: $4,061). A larger down payment reduces your monthly mortgage but property taxes remain constant regardless of how much you put down.

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