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Washington mortgage calculator

The median home in Washington runs about $610,000. With 20% down that's a loan near $488,000 — the calculator is pre-filled with that figure. Washington has no state income tax and a near-average property tax rate held down by a 1% annual limit on levy growth, but high Seattle-area prices keep the dollar payment among the nation's largest.

$3,168.40 / month

Total interest
$652,627
Total paid
$1,140,627
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$122k$244k$366k$488k0612182430Year

How it works

A full Washington payment is more than principal and interest. At the state's 0.87% effective property tax rate, a $610,000 home owes about $5,307 a year in tax, and homeowners insurance averages roughly $1,300 a year here. Together those add about $551 to the monthly payment before any HOA dues or PMI.

Washington's median household income is about $94,000, or $7,833 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,193 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Washington sell in about 30 days on average.

Frequently asked questions

What is a typical mortgage payment in Washington?
On the state's roughly $610,000 median home with 20% down, the loan is about $488,000. Principal and interest depend on your rate; on top of that, Washington's 0.87% effective property tax rate and about $1,300 a year in homeowners insurance add roughly $551 per month to the payment.
How much are property taxes on a home in Washington?
Washington's effective property tax rate averages about 0.87% of market value — roughly $5,307 a year on the $610,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Washington?
The average Washington homeowners policy runs about $1,300 a year. Washington has no state income tax and a near-average property tax rate held down by a 1% annual limit on levy growth, but high Seattle-area prices keep the dollar payment among the nation's largest.
Can I afford a home in Washington on the median income?
Washington's median household income is about $94,000 a year, or $7,833 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,193 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Washington?
A for-sale home in Washington spends about 30 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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