Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Washington homebuyers.
Pre-filled with Washington medians. Adjust for your property.
Estimated closing costs based on Washington tax rates and fees.
The median home price in Washington is $580,000, with property taxes averaging 0.98% annually. Washington's property tax rate is roughly in line with the national average.
Closing costs in Washington average $8K (1.4%% of purchase price). The state charges a 1.78% transfer tax on real estate transactions, which significantly increases closing costs. Homeowners insurance runs approximately $1,600 per year. This is within the normal range nationally.
Washington offers the WSHFC Home Advantage for first-time buyers: Up to $10,000 DPA. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Washington is a higher-cost market. At $580K median, buyers need significant savings or strong income. Down payment assistance and competitive rate-shopping become especially important.