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First-time home buyer programs in Lake Tapps, WA

Quick answer

First-time buyers in Lake Tapps, WA can use 3%-down conventional loans (up to the $1,063,750 Pierce County conforming limit), 3.5%-down FHA, or VA and USDA where eligible. On the $693,300 median home, 3% down is about $20,799 and the estimated payment is $5,423/month at 7.18%.

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

Median household income: $145,250; value-to-income ratio 4.77. Lake Tapps ranks 31 by home value and 110 by population among 131 places in our WA dataset.

What does a first-time buyer loan cost on a typical Lake Tapps home?

ItemLake Tapps
Median home value (Census ACS)$693,300
Washington median home value$519,800
Down payment (3%)$20,799
Loan amount$672,501
Estimated monthly payment (PITI + MI)$5,423
Income needed (28% / 36%)$233,000 / $181,000
Pierce County 2026 conforming limit (1 unit)$1,063,750
Max purchase price at the limit$1,096,000

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

Payment includes Washington's 0.84% effective property tax rate (Census ACS), $1,232/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Lake Tapps?

Lake Tapps is in Pierce County. Conventional 3%-down loans go up to the $1,063,750 conforming limit (price ≈ $1,096,000); FHA loans go up to $1,063,750.

The Lake Tapps median home value of $693,300 is 33% above the Washington median, and within what the county limit supports.

Which down payment assistance programs can Lake Tapps buyers use?

No applicable programs have been verified for this city yet. Check the state housing finance agency for current assistance.

First-time buyer loans in nearby cities

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First-time buyer loan FAQs for Lake Tapps

On the $693,300 median: 3% conventional ≈ $20,799, 3.5% FHA ≈ $24,266, and 0% for eligible VA or USDA buyers. Conventional loans above $1,063,750 in Pierce County become jumbo loans.

At the $693,300 median value (above the Washington median of $519,800), the estimated payment of $5,423/month at 7.18% needs about $233,000 a year under the 28% housing guideline, or $181,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 0 statewide programs are verified for this city (0 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

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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.