Washington · WA

Washington Mortgage Calculator

Pre-filled for Washington: median home price $600,000, average property tax rate 0.87%. Adjust any slider to make it yours.

No state income tax on wages.

Washington housing at a glance

Median home price: $600,000
Effective property tax rate: 0.87% / yr
Annual property tax (median home): $5,220
Est. monthly tax escrow: $435
State income tax: None

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in Washington

The median home price in Washington is around $600,000 and the effective property tax rate averages 0.87%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

Because Washington has no state income tax, your net take-home pay is higher than in comparable-income states — which directly increases how much mortgage you can qualify for under DTI limits.

A 20% down payment on the median home in Washington is $120,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Transfer tax & closing costs in Washington

Washington's Real Estate Excise Tax (REET) is graduated: 1.1% up to $525K, 1.28% to $1.525M, 2.75% to $3.025M, 3% above. Paid by seller. Local REET adds 0.25%–0.5%.

Beyond transfer taxes, total closing costs in Washingtontypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $12,000–$30,000.

Foreclosure & legal context

Foreclosure type: Non-judicial (trustee sale)
Security instrument: Deed of Trust
Deficiency liability: Non-recourse (purchase-money)

Washington is non-recourse for non-judicial trustee sales — lenders waive deficiency rights by choosing this route. Judicial foreclosure preserves recourse but is rarely used.

Washington mortgage FAQ

What is the monthly mortgage payment for a median-priced home in Washington?: At the current 30-year fixed rate of ~6.81%, a $600,000 home in Washington with 20% down ($120,000) carries a principal-and-interest payment of ~$3,132/mo. Add property tax (~$435/mo at 0.87%) and homeowners insurance and your total is roughly $3,567/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in Washington?: The effective statewide property tax rate in Washington averages 0.87% of assessed value per year. On a $600,000 home, that works out to roughly $5,220 per year ($435/mo). Individual county rates vary.
Does Washington have a state income tax?: No, Washington has no state income tax — no state income tax on wages. This can significantly improve affordability compared to high-income-tax states.
What are the closing costs and transfer taxes in Washington?: Washington's Real Estate Excise Tax (REET) is graduated: 1.1% up to $525K, 1.28% to $1.525M, 2.75% to $3.025M, 3% above. Paid by seller. Local REET adds 0.25%–0.5%.
What type of foreclosure does Washington use?: Washington uses non-judicial (trustee sale) foreclosure, which typically moves faster than court-supervised processes. Washington is non-recourse for non-judicial trustee sales — lenders waive deficiency rights by choosing this route. Judicial foreclosure preserves recourse but is rarely used.

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