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Conventional loans in Washington

Quick answer

Conventional loans in Washington allow as little as 3% down (about $15,594 on a $519,800 home) with a 620+ credit score, up to the $832,750 baseline conforming limit.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Conventional loan snapshot for Washington

ItemEstimate
Minimum down payment3%
Minimum credit score620
Typical WA home value$519,800
3.5% down on typical home$18,193
20% down on typical home$103,960
Avg. effective property tax0.84%/yr (~$363/mo)
Income for typical home (31% rule)$162,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Washington programs pair with Conventional loans?

  • Home Advantage DPA: Deferred down payment assistance paired with a Home Advantage first mortgage.
  • Opportunity DPA: A 1% deferred loan for lower-income first-time buyers.

Details and current limits: Washington State Housing Finance Commission (WSHFC).

How does a conventional loan work?

Conventional loans are made by private lenders and usually sold to Fannie Mae or Freddie Mac. Because they follow those agencies' guidelines, they're called conforming loans. You can choose a fixed rate (15, 20 or 30 years) or an adjustable rate.

Your rate and mortgage insurance cost depend heavily on your credit score and down payment, so improving either before you apply can noticeably lower your payment.

Who qualifies for a conventional loan?

  • Credit score: generally 620 minimum.
  • Debt-to-income (DTI): up to 45%, and sometimes 50% with strong compensating factors.
  • Down payment: 3% (HomeReady, Home Possible, 97% LTV programs) to 5%+.
  • Steady, documented income — usually two years of history.
  • Property: primary homes, second homes and investment properties are all allowed (with higher down payments for non-primary homes).

Conventional loans in Washington cities

Conventional in SeattleConventional in SpokaneConventional in TacomaConventional in VancouverConventional in BellevueConventional in KentConventional in EverettConventional in Spokane ValleyConventional in RentonConventional in Federal WayConventional in YakimaConventional in BellinghamConventional in KirklandConventional in AuburnConventional in KennewickConventional in PascoConventional in RedmondConventional in MarysvilleConventional in South HillConventional in SammamishConventional in LakewoodConventional in RichlandConventional in ShorelineConventional in LaceyConventional in OlympiaConventional in BurienConventional in BothellConventional in BremertonConventional in EdmondsConventional in PuyallupConventional in LynnwoodConventional in Lake StevensConventional in IssaquahConventional in ParklandConventional in LongviewConventional in WenatcheeConventional in Mount VernonConventional in GrahamConventional in University PlaceConventional in SpanawayConventional in Walla WallaConventional in Des MoinesConventional in PullmanConventional in SeaTacConventional in OrchardsConventional in Maple ValleyConventional in CamasConventional in TumwaterConventional in Moses LakeConventional in Mill Creek EastConventional in Mercer IslandConventional in Bainbridge IslandConventional in Oak HarborConventional in FredericksonConventional in North LynnwoodConventional in KenmoreConventional in EastmontConventional in Union Hill-Novelty HillConventional in Cottage LakeConventional in Hazel Dell

Frequently asked questions

Yes. Conventional loans are available statewide in Washington through approved lenders, subject to county loan limits where they apply.

Often yes. Washington State Housing Finance Commission (WSHFC) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Washington.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.