State Guides/Washington
WA

Washington Home Buying Guide

West Region · Non-Judicial Foreclosure State

Key Facts at a Glance

Median Home Price
$590,000
Property Tax Rate
1.03%
Transfer Tax
1.28%+
Attorney Required
No
Foreclosure Type
Non-Judicial

What Makes Washington Unique

No state income tax

One of the higher transfer taxes — tiered by price

Seattle market is highly competitive with tech sector demand

First-Time Buyer Programs in Washington

1

WSHFC Home Advantage

Contact your state housing finance agency for current eligibility and rates

2

WSHFC Opportunity First

Contact your state housing finance agency for current eligibility and rates

3

WSHFC House Key

Contact your state housing finance agency for current eligibility and rates

Program availability, income limits, and interest rates change frequently. Verify current terms with your lender or state housing finance agency.

Closing Costs in Washington

1.1%
Avg Closing Costs
of purchase price
$6,490
Estimated Closing Costs
on median-priced home
1.28%
Transfer Tax
may be split with seller

Attorney at Closing

Attorney Not Required

Washington does not require an attorney at closing. A title company typically handles the transaction. Consider hiring one anyway for complex deals.

Local Tips for Washington Buyers

1

Transfer tax is tiered — luxury homes over $3M pay 3%.

2

WSHFC Home Advantage requires homebuyer education.

3

No income tax is a major long-term financial advantage.

Estimated Annual Ownership Cost in Washington

Based on the median home price of $590,000 with a 10% down payment and 7% mortgage rate.

Annual Mortgage Payment$42,374
Annual Property Taxes$6,077
Homeowners Insurance (est.)$2,950
Maintenance (est. 1%/yr)$5,900

Ready to Calculate Your Numbers?

Use our free calculators to estimate your monthly payment, affordability, and closing costs in Washington.