Washington First-Time Homebuyer Calculator
First-time homebuyer costs in Washington: $19,600 FHA down payment, $14,000 closing costs, 1.03% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Washington. Includes down payment, closing costs (2.5%), PMI (required below 20% down), property tax (1.03%), and homeowners insurance ($1,420/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Washington homebuyer facts: Median price $560,000 | 20% down = $112,000 | FHA 3.5% down = $19,600 | Closing costs ~$14,000 | Property tax 1.03% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Washington?
For Washington's median home ($560,000): FHA minimum down payment is $19,600 (3.5%), plus $14,000 in closing costs. Total minimum: ~$33,600. With 20% down to avoid PMI: ~$126,000.
What are closing costs in Washington?
Washington closing costs average 2.5% of the home price, or about $14,000 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 1.1%.
Related Calculators
More First-Time Homebuyer Calculators
More Calculators for Washington
Explore related financial tools with Washington data