Washington FHA Loan Rates, Closing Costs & Stats

Washington

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Washington FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Washington averaged 6.75% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Washington's average FHA mortgage closing costs are $11,133.

The average rate for the prior week (2024-04-05) was 6.38% and one month ago for the week of 2024-03-08, the average rate was 6.52%.

The average rate one year ago was 6.25%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.13%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Washington FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Washington level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1,023 6.12% $17,549
QUICKEN LOANS, LLC 879 6.13% $15,882
MOVEMENT MORTGAGE, LLC 636 6.83% $19,111
GUILD MORTGAGE COMPANY 594 6.76% $16,741
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 534 6.88% $16,845
AMERICAN PACIFIC MORTGAGE CORPORATION 533 6.88% $17,148
CROSSCOUNTRY MORTGAGE, LLC 423 6.79% $18,090
CMG MORTGAGE, INC. 288 6.52% $16,948
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 269 6.80% $17,184
BROKER SOLUTIONS, INC. 255 6.81% $18,625
LOANDEPOT.COM, LLC 226 6.27% $17,203
ACADEMY MORTGAGE CORPORATION 219 6.57% $17,204
SUMMIT FUNDING, INC. 202 7.03% $15,053
CARDINAL FINANCIAL 190 6.64% $17,598
DHI MORTGAGE COMPANY, LTD. 172 5.76% $11,802
PENNYMAC LOAN SERVICES, LLC 159 6.11% $17,319
BAY EQUITY LLC 157 6.71% $17,699
NEWREZ LLC 136 6.51% $15,548
PRIMELENDING, A PLAINSCAPITAL COMPANY 134 6.60% $16,832
Sunflower Bank 134 6.37% $13,500
CORNERSTONE HOME LENDING, INC. 126 6.53% $18,894
Paramount Residential Mortgage Group, Inc. 123 6.64% $17,211
HOMEBRIDGE FINANCIAL SERVICES, INC. 116 6.31% $16,528
PREMIER MORTGAGE RESOURCES, L.L.C. 112 6.34% $20,192
GUARANTEED RATE, INC. 110 6.38% $17,251
1st Security Bank of Washington 108 6.33% $19,656
CHURCHILL MORTGAGE CORPORATION 103 6.53% $15,261
FREEDOM MORTGAGE CORPORATION 100 6.71% $18,869
ENVOY MORTGAGE, LTD 99 6.76% $15,423
CALIBER HOME LOANS, INC. 96 6.33% $15,609
NOVA FINANCIAL & INVESTMENT CORPORATION 94 6.54% $16,771
NFM, INC. 92 6.62% $20,071
MANN FINANCIAL INC. 89 6.93% $15,446
AMERISAVE MORTGAGE CORPORATION 82 5.93% $18,568
MUTUAL OF OMAHA MORTGAGE, INC. 79 6.48% $19,115
Ixonia Bank 72 6.82% $19,840
Mr. Cooper ( Nationstar Mortgage ) 71 5.99% $21,274
American Mortgage & Equity Consultants, Inc. 68 6.71% $16,042
EAGLE HOME MORTGAGE, LLC 66 6.12% $18,727
Flagstar Bank, FSB 56 6.34% $14,650
CALCON MUTUAL MORTGAGE LLC 49 6.53% $21,894
MID AMERICA MORTGAGE, INC. 49 6.85% $7,142
HomeStreet Bank 48 6.37% $17,695
Wheatland Bank 47 6.52% $14,053
PLANET HOME LENDING, LLC 47 5.94% $15,060
AMERICAN FINANCIAL NETWORK, INC. 47 6.92% $17,186
Century Mortgage Company DBA Century Lending Company 46 6.32% $14,300
LEADERONE FINANCIAL CORPORATION 42 6.44% $17,582
Banner Bank 42 6.37% $12,874
T2 FINANCIAL LLC 41 6.96% $14,895
INSPIRE HOME LOANS INC. 40 5.43% $15,100
PENRITH HOME LOANS LLC 38 6.47% $16,763
Alaska USA Federal Credit Union 37 6.49% $15,725
NATIONS DIRECT MORTGAGE, LLC 37 6.14% $17,281
AXIA FINANCIAL, LLC 37 6.68% $17,779
MORTGAGE SOLUTIONS OF COLORADO, LLC 37 6.83% $16,309
DIRECTORS MORTGAGE, INC. 37 6.86% $24,131
LAKEVIEW LOAN SERVICING, LLC 35 6.09% $16,531
Loan Simple, Inc. 34 6.94% $17,862
Carrington Mortgage Services, LLC 34 6.42% $16,290
U.S. Bank 34 6.64% $12,996
Willamette Valley Bank 33 6.58% $16,713
DAS Acquisition Company, LLC 32 7.00% $18,182
Northpointe Bank 32 7.01% $13,283
EVERETT FINANCIAL, INC. 31 6.50% $18,019
PRIMARY RESIDENTIAL MORTGAGE, INC. 30 6.68% $14,299
CANOPY MORTGAGE, LLC 30 6.92% $18,188
GENEVA FINANCIAL, LLC 29 6.60% $20,152
Umpqua Bank 28 6.48% $14,744
MLD MORTGAGE INC. 27 7.01% $17,659
HOMESIDE FINANCIAL, LLC 27 6.40% $16,359
SUN WEST MORTGAGE COMPANY, INC. 26 6.25% $17,692
The Federal Savings Bank 25 6.34% $22,550
ZILLOW HOME LOANS, LLC 24 6.32% $17,245
PRIORITY HOME LENDING, LLC 24 6.63% $17,220
Wallick & Volk, Inc. 24 7.10% $11,928
Equity Prime Mortgage LLC 23 6.36% $17,417
Boeing Employees Credit Union 23 6.57% $11,511
S1L, Inc. 23 7.20% $13,057
JPMorgan Chase Bank 23 6.61% $9,144
PLAZA HOME MORTGAGE, INC. 22 6.42% $18,690
Cornerstone First Mortgage, Inc 22 6.96% $13,724
LOANPAL, LLC 21 5.78% $18,059
AMCAP MORTGAGE, LTD. 20 6.94% $17,494
MASON MCDUFFIE MORTGAGE CORPORATION 19 6.64% $15,774
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 19 6.58% $17,489
Plains Commerce Bank 19 6.07% $16,726
HOMEAMERICAN MORTGAGE CORPORATION 18 5.66% $13,669
Lakeview Community Capital, LLC 18 6.10% $14,913
Prosperity Home Mortgage, LLC 18 6.27% $17,186
Sierra Pacific Mortgage Company, Inc. 18 6.44% $13,879
Mortgage Research Center, LLC 17 6.54% $11,312
WASHINGTON STATE EMPLOYEES Credit Union 17 6.35% $11,186
VILLAGE CAPITAL MORTGAGE 17 5.94% $16,011
KeyBank 16 6.22% $14,020
AMERICAN FINANCING CORPORATION 16 6.06% $15,850
KBHS HOME LOANS, LLC 16 5.80% $26,263
RESIDENTIAL MORTGAGE, LLC 16 6.58% $15,616
NUMERICA CREDIT UNION 16 6.44% $11,695
Wells Fargo Bank 15 6.65% $15,167
PANORAMA MORTGAGE GROUP, LLC 15 6.32% $22,796
SUMMIT MORTGAGE CORPORATION 15 7.02% $16,759
TOP FLITE FINANCIAL, INC. 15 6.99% $19,442
ON Q FINANCIAL, INC. 15 7.12% $13,813
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 14 6.37% $20,472
V.I.P. MORTGAGE, INC. 14 6.99% $13,762
MORTGAGE EXPRESS, LLC 14 6.34% $15,614
MEMBER FIRST MORTGAGE, LLC 13 6.63% $10,641
GUARANTEED RATE AFFINITY, LLC 13 6.28% $19,555
Nations Lending Corporation 13 6.66% $17,366
LAND HOME FINANCIAL SERVICES, INC. 12 6.92% $18,540
PREMIER LENDING, INC. 11 6.84% $12,793
Peoples Bank 11 6.61% $16,585
UNION HOME MORTGAGE CORP. 11 6.75% $15,288
NBKC BANK 11 6.06% $12,479
Bank of England 10 6.31% $15,711
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 9 7.04% $15,090
VERITAS FUNDING, LLC 9 6.60% $22,325
NETWORK CAPITAL FUNDING CORPORATION 9 5.79% $14,084
Washington Trust Bank 8 7.38% $11,497
LPMC, LLC 8 6.77% $15,826
LADERA LENDING, INC. 8 6.58% $15,032
Barrington Bank & Trust Company, N.A. 8 6.93% $12,912
Summit Mortgage Corporation 8 6.47% $18,960
AMERICAN FINANCIAL RESOURCES, INC. 8 6.30% $13,378
PHH Mortgage Corporation 7 6.10% $14,259
MICHIGAN MUTUAL, INC. 7 5.21% $20,391
Stride Bank 6 6.52% $21,248
IDAHO CENTRAL 6 6.90% $13,404
TJC Mortgage, Inc. 6 5.67% $29,654
INTERNATIONAL CITY MORTGAGE, INC. 6 6.60% $14,577
OCMBC, INC. 6 6.48% $13,819
PACIFIC RESIDENTIAL MORTGAGE, LLC 6 6.54% $14,073
Glacier Bank 6 6.50% $12,118
Bank of the Pacific 6 6.65% $11,415
RANLIFE, INC. 5 6.62% $15,718
Bank of America 5 6.45% $13,651
AmeriHome Mortgage Company, LLC 5 6.42% $15,648
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.50% $16,789
GSF Mortgage Corporation 5 5.98% $19,005
FIRST CENTENNIAL MORTGAGE CORPORATION 5 6.98% $14,861
FIRST CONTINENTAL MORTGAGE, LTD. 5 6.88% $11,443
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 5.97% $18,987
JMAC LENDING, INC. 4 6.25% $16,589
Chickasaw Community Bank 4 7.28% $10,422
United Fidelity Funding Corp. 4 6.44% $24,474
HOMEOWNERS FINANCIAL GROUP USA, LLC 4 6.63% $15,519
South Pacific Financial Corporation 4 5.56% $16,713
AHL FUNDING 3 6.75% $37,233
Waterstone Mortgage Corporation 3 6.17% $20,355
Gateway First Bank 3 6.33% $25,032
Commerce Home Mortgage, Inc. 3 6.67% $17,928
TOWNE MORTGAGE COMPANY 3 6.29% $21,332
TOTAL MORTGAGE SERVICES, LLC 3 6.63% $14,116
RESIDENTIAL BANCORP 3 6.25% $12,358
MOUNTAIN WEST FINANCIAL, INC. 3 7.33% $13,347
CHERRY CREEK MORTGAGE, LLC 3 6.75% $4,058
NATIONWIDE MORTGAGE BANKERS, INC. 3 6.79% $19,829
NEW DAY FINANCIAL, LLC 3 7.25% $7,508
BAY-VALLEY MORTGAGE GROUP 3 6.63% $16,898
NexBank 3 6.04% $15,661
HORIZON 3 6.58% $11,838
Heritage Bank 3 6.79% $16,376
The Loan Store, Inc. 3 6.91% $24,585
KELLER MORTGAGE, LLC 2 5.63% $21,911
SeaTrust Mortgage Company 2 6.75% $31,961
SECURITYNATIONAL MORTGAGE COMPANY 2 6.44% $29,195
GUARANTY HOME MORTGAGE CORPORATION 2 5.56% $18,809
Strong Home Mortgage, LLC 2 6.13% $18,001
Armed Forces Bank 2 5.25% $20,795
LIBERTY HOME MORTGAGE CORPORATION 2 7.69% $19,933
CRESCENT MORTGAGE COMPANY 2 6.13% $13,945
LOANLEADERS OF AMERICA, INC. 2 5.81% $23,595
MORTGAGE LENDING GROUP LLC 2 6.31% $16,660
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 7.38% $14,793
Citizens Bank 2 6.19% $22,570
M&T Bank 2 6.25% $13,796
Neighborhood Loans, Inc. 2 6.75% $20,294
FIRST COLONY MORTGAGE CORPORATION 2 6.94% $12,558
INTERCAP LENDING INC. 2 7.00% $17,634
OnPoint Community Credit Union 2 6.50% $10,794
DRAPER AND KRAMER MORTGAGE CORP. 2 6.38% $16,047
Pacific Lending LLC 2 6.75% $16,478
BELEM SERVICING LLC 2 7.38% $17,626
PENTAGON FEDERAL CREDIT UNION 2 5.19% $19,439
BECKAM FUNDING CORP. 2 6.44% $17,001
PREMIA MORTGAGE, LLC 2 6.75% $9,526
PNC Bank 1 6.75% $10,517
Golden Empire Mortgage, Inc. 1 6.63% $14,442
Goldwater Bank, N.A. 1 6.50% $21,484
Financial Partners Credit Union 1 6.50% $13,996
Evolve Bank & Trust 1 8.00% $16,362
EMM LOANS LLC 1 5.63% $16,193
Hometown Equity Mortgage, LLC 1 5.13% $24,168
HOMEXPRESS MORTGAGE CORP. 1 8.13% $10,923
EMBRACE HOME LOANS, INC. 1 6.49% $12,102
JLB CORPORATION 1 6.25% $12,487
Keystone Funding, Inc. 1 6.75% $15,839
KINECTA 1 6.63% $9,319
DATA MORTGAGE, INC. 1 6.38% $16,906
LEGEND LENDING CORPORATION 1 6.75% $14,569
Magnolia Bank 1 5.25% $22,301
CONTOUR MORTGAGE CORPORATION 1 5.50% $23,715
CLIFFCO, INC. 1 7.75% $9,113
CITYWIDE HOME LOANS, LLC 1 5.75% $15,858
NATIONS RELIABLE LENDING, LLC 1 6.00% $6,734
NEXERA HOLDING LLC 1 5.75% $5,692
BNC National Bank 1 6.13% $22,329
NJ LENDERS CORP. 1 6.25% $13,573
North American Savings Bank, F.S.B. 1 5.25% $11,490
BM Real Estate Services, Inc. 1 6.50% $25,682
BKCO MORTGAGE, LLC 1 5.00% $15,973
OAKTREE FUNDING CORP. 1 5.63% $17,729
Opportunity Bank of Montana 1 6.13% $19,499
BETTER MORTGAGE CORPORATION 1 6.50% $15,263
Bell Bank 1 6.25% $14,749
FIRST COMMUNITY MORTGAGE, INC. 1 7.25% $17,002
RELIANCE FIRST CAPITAL, LLC 1 6.63% $12,954
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 6.63% $12,421
ROYAL UNITED MORTGAGE LLC 1 6.75% $9,159
SIRVA MORTGAGE, INC. 1 7.25% $10,244
SOUTHWEST STAGE FUNDING, LLC 1 5.75% $4,741
SOVEREIGN LENDING GROUP INCORPORATED 1 5.00% $16,041
ARC HOME LLC 1 6.50% $16,030
The Central Trust Bank 1 6.63% $16,302
THE MORTGAGE LINK, INC. 1 7.63% $31,735
THRIVE MORTGAGE, LLC 1 6.63% $14,372
TRISTAR FINANCE, INC. 1 6.75% $20,107
Truist 1 5.25% $12,884
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.63% $25,038
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $12,480
First Savings Bank 1 7.00% $19,688

The top Washington FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,023 FHA loans originated. Their average total fees are $17,549, which is $1,666 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Washington FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($7,142), JPMorgan Chase Bank ($9,144), MEMBER FIRST MORTGAGE, LLC ($10,641), WASHINGTON STATE EMPLOYEES Credit Union ($11,186) and Mortgage Research Center, LLC ($11,312).

The lowest rate Washington FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.43%), HOMEAMERICAN MORTGAGE CORPORATION (5.66%), DHI MORTGAGE COMPANY, LTD. (5.76%), LOANPAL, LLC (5.78%) and KBHS HOME LOANS, LLC (5.80%).

Washington FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
OTHELLO, WA ADAMS 2022 $420,680 $538,650 $651,050 $809,150
LEWISTON, ID-WA ASOTIN 2022 $420,680 $538,650 $651,050 $809,150
KENNEWICK-RICHLAND, WA BENTON 2022 $420,680 $538,650 $651,050 $809,150
WENATCHEE, WA CHELAN 2022 $420,680 $538,650 $651,050 $809,150
PORT ANGELES, WA CLALLAM 2022 $420,680 $538,650 $651,050 $809,150
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLARK 2022 $598,000 $765,550 $925,350 $1,150,000
NON-METRO COLUMBIA 2022 $420,680 $538,650 $651,050 $809,150
LONGVIEW, WA COWLITZ 2022 $420,680 $538,650 $651,050 $809,150
WENATCHEE, WA DOUGLAS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FERRY 2022 $420,680 $538,650 $651,050 $809,150
KENNEWICK-RICHLAND, WA FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GARFIELD 2022 $420,680 $538,650 $651,050 $809,150
MOSES LAKE, WA GRANT 2022 $420,680 $538,650 $651,050 $809,150
ABERDEEN, WA GRAYS HARBOR 2022 $420,680 $538,650 $651,050 $809,150
OAK HARBOR, WA ISLAND 2022 $511,750 $655,150 $791,900 $984,150
NON-METRO JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
SEATTLE-TACOMA-BELLEVUE, WA KING 2022 $891,250 $1,140,950 $1,379,150 $1,713,950
BREMERTON-SILVERDALE-PORT ORCHARD, WA KITSAP 2022 $497,950 $637,450 $770,550 $957,600
ELLENSBURG, WA KITTITAS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO KLICKITAT 2022 $420,680 $538,650 $651,050 $809,150
CENTRALIA, WA LEWIS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
SHELTON, WA MASON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO OKANOGAN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PACIFIC 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PEND OREILLE 2022 $420,680 $538,650 $651,050 $809,150
SEATTLE-TACOMA-BELLEVUE, WA PIERCE 2022 $891,250 $1,140,950 $1,379,150 $1,713,950
NON-METRO SAN JUAN 2020 $497,950 $637,450 $770,550 $957,600
MOUNT VERNON-ANACORTES, WA SKAGIT 2022 $473,800 $606,550 $733,150 $911,150
PORTLAND-VANCOUVER-HILLSBORO, OR-WA SKAMANIA 2022 $598,000 $765,550 $925,350 $1,150,000
SEATTLE-TACOMA-BELLEVUE, WA SNOHOMISH 2022 $891,250 $1,140,950 $1,379,150 $1,713,950
SPOKANE-SPOKANE VALLEY, WA SPOKANE 2022 $420,680 $538,650 $651,050 $809,150
SPOKANE-SPOKANE VALLEY, WA STEVENS 2022 $420,680 $538,650 $651,050 $809,150
OLYMPIA-LACEY-TUMWATER, WA THURSTON 2022 $477,250 $610,950 $738,500 $917,800
NON-METRO WAHKIAKUM 2022 $420,680 $538,650 $651,050 $809,150
WALLA WALLA, WA WALLA WALLA 2022 $420,680 $538,650 $651,050 $809,150
BELLINGHAM, WA WHATCOM 2022 $514,050 $658,050 $795,450 $988,550
PULLMAN, WA WHITMAN 2022 $420,680 $538,650 $651,050 $809,150
YAKIMA, WA YAKIMA 2022 $420,680 $538,650 $651,050 $809,150
OTHELLO, WA ADAMS 2023 $472,030 $604,400 $730,525 $907,900
LEWISTON, ID-WA ASOTIN 2023 $472,030 $604,400 $730,525 $907,900
KENNEWICK-RICHLAND, WA BENTON 2023 $472,030 $604,400 $730,525 $907,900
WENATCHEE, WA CHELAN 2023 $506,000 $647,750 $783,000 $973,100
PORT ANGELES, WA CLALLAM 2023 $472,030 $604,400 $730,525 $907,900
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLARK 2023 $672,750 $861,250 $1,041,050 $1,293,750
NON-METRO COLUMBIA 2023 $472,030 $604,400 $730,525 $907,900
LONGVIEW, WA COWLITZ 2023 $472,030 $604,400 $730,525 $907,900
WENATCHEE, WA DOUGLAS 2023 $506,000 $647,750 $783,000 $973,100
NON-METRO FERRY 2023 $472,030 $604,400 $730,525 $907,900
KENNEWICK-RICHLAND, WA FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GARFIELD 2023 $472,030 $604,400 $730,525 $907,900
MOSES LAKE, WA GRANT 2023 $472,030 $604,400 $730,525 $907,900
ABERDEEN, WA GRAYS HARBOR 2023 $472,030 $604,400 $730,525 $907,900
OAK HARBOR, WA ISLAND 2023 $575,000 $736,100 $889,800 $1,105,800
NON-METRO JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
SEATTLE-TACOMA-BELLEVUE, WA KING 2023 $977,500 $1,251,400 $1,512,650 $1,879,850
BREMERTON-SILVERDALE-PORT ORCHARD, WA KITSAP 2023 $563,500 $721,400 $872,000 $1,083,650
ELLENSBURG, WA KITTITAS 2023 $474,950 $608,000 $734,950 $913,350
NON-METRO KLICKITAT 2023 $472,030 $604,400 $730,525 $907,900
CENTRALIA, WA LEWIS 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
SHELTON, WA MASON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO OKANOGAN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PACIFIC 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PEND OREILLE 2023 $472,030 $604,400 $730,525 $907,900
SEATTLE-TACOMA-BELLEVUE, WA PIERCE 2023 $977,500 $1,251,400 $1,512,650 $1,879,850
NON-METRO SAN JUAN 2023 $497,950 $637,450 $770,550 $957,600
MOUNT VERNON-ANACORTES, WA SKAGIT 2023 $545,100 $697,800 $843,500 $1,048,300
PORTLAND-VANCOUVER-HILLSBORO, OR-WA SKAMANIA 2023 $672,750 $861,250 $1,041,050 $1,293,750
SEATTLE-TACOMA-BELLEVUE, WA SNOHOMISH 2023 $977,500 $1,251,400 $1,512,650 $1,879,850
SPOKANE-SPOKANE VALLEY, WA SPOKANE 2023 $472,030 $604,400 $730,525 $907,900
SPOKANE-SPOKANE VALLEY, WA STEVENS 2023 $472,030 $604,400 $730,525 $907,900
OLYMPIA-LACEY-TUMWATER, WA THURSTON 2023 $546,250 $699,300 $845,300 $1,050,500
NON-METRO WAHKIAKUM 2023 $472,030 $604,400 $730,525 $907,900
WALLA WALLA, WA WALLA WALLA 2023 $472,030 $604,400 $730,525 $907,900
BELLINGHAM, WA WHATCOM 2023 $603,750 $772,900 $934,250 $1,161,050
PULLMAN, WA WHITMAN 2023 $472,030 $604,400 $730,525 $907,900
YAKIMA, WA YAKIMA 2023 $472,030 $604,400 $730,525 $907,900

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).