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Mortgage rates in Washington

You could end up paying less in interest than other states.

In the past 10 years mortgage rates in Washington have come in 0.07% under the national average. You can expect rates to follow a similar trend in 2020.

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Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

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How much do Washington rates vary?

Average rates in Washington for 15- and 30-year mortgages ranged between 3.990% to 4.932% in 2018. Lenders consider your credit score, loan term and type when determining your mortgage rate.

2018 average rates in Washington by loan type

Loan type15-year average rate30-year average rate

USDANot available4.631%

Rates based on data from

To see how these rates matter when it comes to your monthly payment, let’s say you qualify for a 30-year FHA loan for $275,000 at the 2018 average rate of 4.932%. This loan may have a monthly payment of $1,460, excluding taxes and fees. Opting for a shorter, 15-year FHA loan at a rate of 4.151% could increase your monthly payment to about $2,050.

If you can afford a higher monthly payment with a shorter loan term, you could save nearly $158,000 in interest payments over the duration of the loan.

Mortgage rates in Washington are likely to slide under the 4% mark in 2020.

Washington mortgage rates almost always come in under the national average. In fact, in the past ten years, interest rates have averaged 0.07% lower than the rest of the country.

Housing agencies nationwide predict 30-year rates to average about 3.70%, and we can expect Washington to come in slightly under in 2020.

Compare mortgage rates throughout Washington

The Evergreen State has a healthy mix of urban and rural areas, and housing costs and interest rates depend on where you live. For example homes prices in Seattle are high, with a median price of $445,000. Homeowners in the small region of Asotin County can expect to pay more than half as much, with a median price of $180,000.

We dug deep into the Home Mortgage Disclosure Act to give you an idea of what you could expect to pay on a 30-year fixed-rate mortgage in different metropolitan areas in Washington. These numbers don’t account for extra fees or costs unique to your loan.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost

Bremerton-Silverdale-Port Orchard4.741%$305,000$1,590
Lewiston MSA (Asotin County)4.825%$180,000$950
Mount Vernon-Anacortes4.743%$285,000$1,490
Vancouver MSA (Clark and Skamania Counties)4.786%$305,000$1,600
Seattle-Tacoma-Bellevue MSA4.671%$445,000$2,300
Spokane-Spokane Valley4.770%$205,000$1,070
Walla Walla4.781%$205,000$1,070

Rates and costs based on data from

How to get the best mortgage rate in Washington

Here are a few methods to help you get a better rate on your next mortgage.

  1. Look at a few loan programs. There are many different loans with varying rates and qualifying criteria. Research these different options to understand what you may qualify for.
  2. Bring your credit up to speed. Borrowers with good to excellent credit typically receive the best rates from lenders. To qualify for a better rate, try paying down any existing obligations and increasing your credit score.
  3. Weigh closing costs. Some lenders charge lower mortgage rates at the price of higher closing costs. Average closing costs in Washington can run you between 0.89% and 2.93% of the home sale price. Calculate what these costs could end up adding to the overall cost of your loan.

Historical mortgage interest rates in Washington

Bottom line

While Washington rates are generally lower than the national average, specific interest rates are determined by individual lenders. Compare loan programs and lenders to make sure you are getting the best deal on your loan.

Frequently asked questions

What state homeownership programs does Washington support?
Washington offers a few state programs with special mortgage rates and down payment assistance to help make homeownership more accessible.

  • House Key Opportunity Program. Offers homebuyers with incomes at or below 80% of the Area Median Income with a lower interest rate.
  • Home Advantage Program. Lenders use the Washington State Housing Finance’s (WSHFC) interest rate for your loan, which can lower your monthly mortgage payment.
  • Down Payment Assistance. WSHFC’s down payment assistance programs functions as a second mortgage with a low interest rate from 0% to 4%. Most payments aren’t due until you pay off your mortgage or decide to sell, move out, refinance or transfer the property.

Where can I find a Commission-sponsored homebuyer education seminar in Washington?
The WSHFC has a network of local providers and an online course approved by the Commission.

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