Washington Mortgage Rates

If you’re looking to settle in a place with scenic natural views, an established art culture and a booming economic vista, The Evergreen State easily tops the list.

Home to 7.8 million Americans, the Washington state in the Pacific Northwest lives up to its nickname with a terrain that spans the snow-capped Cascade Mountains and the lush green forests of the Puget Sound islands.

Its cities support active tech hubs and a vibrant arts and music culture. These and a lot more are wonderful reasons to call Washington a home.

Take that first step towards getting the right mortgage.

But what would it be like to get a mortgage in the state?

Getting a mortgage in Washington

If you’re shopping for a home in the state, expect to find expensive homes than most states.

According to Zillow’s Home Value Index, the average valuation of a home in the state of Washington is $342,000. Median state values have increased by 10.9 percent during the course of a year and is projected to increase by 4.4 percent in 2018.

That is pricier than the national home value average of $201,900. The conforming loan limit in most of its counties sits at $424,100.

The state’s Housing Finance Commission offers state homebuyers assistance in procuring properties. You can participate in a Commission-Sponsored Homebuyer Education Seminar or take advantage of their offered home loan programs such as the:

• Home Advantage Program
• House Key Opportunity Program
• Mortgage Credit Certificate; or the
• EnergySpark Home Loan

There are also existing down payment assistance programs to aid cash-strapped buyers.

Are the rates affordable?

Mortgage rates in Washington may be slightly higher than national averages though your ultimate rate is a combination of personal and market factors.

Feel free to get real-time rates from lenders in Washington at MortgageSum.