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 6.21% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Washington's average FHA mortgage closing costs are $10,498.

The average rate for the prior week (2023-05-19) was 6.09% and one month ago for the week of 2023-04-21, the average rate was 6.13%.

The average rate one year ago was 4.74%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.02%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CALIBER HOME LOANS, INC. 859 4.90% $14,711
QUICKEN LOANS, LLC 772 4.30% $14,000
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 761 5.43% $14,943
GUILD MORTGAGE COMPANY 677 5.16% $14,466
UNITED WHOLESALE MORTGAGE, LLC 612 4.67% $14,567
HOMEBRIDGE FINANCIAL SERVICES, INC. 407 5.00% $14,380
CROSSCOUNTRY MORTGAGE, LLC 379 5.30% $17,354
MOVEMENT MORTGAGE, LLC 355 5.27% $14,907
LOANDEPOT.COM, LLC 292 4.63% $14,665
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 292 5.28% $15,215
AMERICAN PACIFIC MORTGAGE CORPORATION 280 4.95% $16,212
ACADEMY MORTGAGE CORPORATION 271 5.29% $14,671
FREEDOM MORTGAGE CORPORATION 215 4.58% $12,997
BROKER SOLUTIONS, INC. 212 5.22% $15,980
SUMMIT FUNDING, INC. 205 5.46% $12,989
LAKEVIEW LOAN SERVICING, LLC 187 3.74% $8,444
FINANCE OF AMERICA MORTGAGE LLC 178 5.05% $15,302
CARDINAL FINANCIAL 177 4.91% $16,162
BAY EQUITY LLC 176 5.37% $17,910
PENNYMAC LOAN SERVICES, LLC 176 4.11% $13,721
Paramount Residential Mortgage Group, Inc. 165 5.04% $14,756
Mr. Cooper ( Nationstar Mortgage ) 148 4.21% $16,345
HOME POINT FINANCIAL CORPORATION 138 4.07% $13,761
Carrington Mortgage Services, LLC 135 4.83% $16,862
CORNERSTONE HOME LENDING, INC. 133 5.21% $17,056
HOMESIDE FINANCIAL, LLC 128 5.34% $12,782
ENVOY MORTGAGE, LTD 125 5.46% $12,632
PRIMELENDING, A PLAINSCAPITAL COMPANY 121 5.06% $15,933
Sunflower Bank 120 5.25% $10,833
Umpqua Bank 115 4.69% $13,685
Hometown Lenders, Inc. 109 5.37% $14,742
AMERISAVE MORTGAGE CORPORATION 107 4.31% $16,076
PREMIER MORTGAGE RESOURCES, L.L.C. 106 5.07% $17,342
Flagstar Bank, FSB 103 4.54% $12,888
GUARANTEED RATE, INC. 88 4.83% $14,739
DHI MORTGAGE COMPANY, LTD. 85 4.30% $11,837
MANN FINANCIAL INC. 85 5.32% $14,439
1st Security Bank of Washington 84 4.94% $15,547
NFM, INC. 84 5.05% $16,153
CHURCHILL MORTGAGE CORPORATION 79 5.04% $12,355
CMG MORTGAGE, INC. 78 5.03% $15,190
MID AMERICA MORTGAGE, INC. 73 4.98% $5,750
HomeStreet Bank 71 4.52% $14,622
DIRECTORS MORTGAGE, INC. 70 5.11% $17,563
Willamette Valley Bank 63 4.95% $13,290
PLANET HOME LENDING, LLC 61 4.37% $14,228
PRIMARY RESIDENTIAL MORTGAGE, INC. 60 5.13% $14,197
NEWREZ LLC 59 4.60% $12,284
LEADERONE FINANCIAL CORPORATION 54 5.06% $13,614
EVERETT FINANCIAL, INC. 51 5.14% $10,939
AXIA FINANCIAL, LLC 49 5.73% $16,752
MUTUAL OF OMAHA MORTGAGE, INC. 48 4.81% $16,479
Alaska USA Mortgage Company LLC 48 5.18% $13,991
EAGLE HOME MORTGAGE, LLC 47 4.59% $19,036
GENEVA FINANCIAL, LLC 45 5.21% $17,983
AMERICAN FINANCIAL RESOURCES, INC. 45 4.05% $12,980
First Home Bank 44 4.82% $16,026
Banner Bank 43 4.62% $11,522
Nations Lending Corporation 41 5.02% $17,910
SUMMIT MORTGAGE CORPORATION 40 4.98% $13,929
AMERICAN FINANCING CORPORATION 40 4.12% $11,481
MORTGAGE SOLUTIONS OF COLORADO, LLC 40 4.95% $19,585
NATIONS DIRECT MORTGAGE, LLC 39 4.41% $13,658
Northpointe Bank 38 4.84% $12,892
Wheatland Bank 38 4.80% $11,716
Gateway First Bank 35 5.25% $10,564
CALCON MUTUAL MORTGAGE LLC 33 5.63% $17,741
Lakeview Community Capital, LLC 32 3.90% $9,311
AMCAP MORTGAGE, LTD. 32 5.41% $14,485
JPMorgan Chase Bank 32 4.82% $9,629
TOP FLITE FINANCIAL, INC. 31 5.19% $24,828
The Federal Savings Bank 31 4.32% $20,311
Equity Prime Mortgage LLC 31 5.35% $16,114
PRIORITY HOME LENDING, LLC 30 4.86% $17,125
Wallick & Volk, Inc. 29 4.97% $13,562
S1L, Inc. 29 5.11% $11,631
NETWORK CAPITAL FUNDING CORPORATION 26 4.41% $14,581
MORTGAGE MASTER SERVICE CORPORATION 26 5.13% $16,344
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 25 5.03% $14,792
PENRITH HOME LOANS LLC 23 4.74% $14,390
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 23 5.13% $17,976
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 22 4.70% $13,809
MLD MORTGAGE INC. 22 5.32% $16,318
VILLAGE CAPITAL MORTGAGE 22 3.63% $9,459
ON Q FINANCIAL, INC. 21 5.61% $15,011
RANLIFE, INC. 21 4.73% $13,425
VERITAS FUNDING, LLC 20 4.94% $21,809
Wells Fargo Bank 20 4.60% $8,991
INSPIRE HOME LOANS INC. 19 4.82% $18,501
U.S. Bank 18 5.35% $13,124
HOMEAMERICAN MORTGAGE CORPORATION 18 4.17% $14,082
Loan Simple, Inc. 17 5.72% $14,631
KBHS HOME LOANS, LLC 17 4.37% $20,245
T2 FINANCIAL LLC 16 4.99% $15,801
PACIFIC RESIDENTIAL MORTGAGE, LLC 16 4.33% $16,594
Goldwater Bank, N.A. 16 4.31% $18,846
Washington Trust Bank 16 4.88% $11,162
CHERRY CREEK MORTGAGE, LLC 15 5.29% $5,322
KeyBank 14 3.79% $11,337
DAS Acquisition Company, LLC 14 5.45% $16,509
SUN WEST MORTGAGE COMPANY, INC. 13 4.57% $11,208
MORTGAGE EXPRESS, LLC 13 4.80% $14,788
CANOPY MORTGAGE, LLC 13 5.01% $15,607
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 13 5.99% $12,953
Boeing Employees Credit Union 12 4.54% $10,796
First Guaranty Mortgage Corporation 12 4.15% $12,522
Victorian Finance, LLC 12 5.18% $14,368
NATIONS RELIABLE LENDING, LLC 11 4.80% $13,784
RELIANCE FIRST CAPITAL, LLC 11 4.15% $15,840
Bank of the Pacific 11 4.62% $9,750
BECKAM FUNDING CORP. 11 4.60% $17,184
PANORAMA MORTGAGE GROUP, LLC 11 5.49% $22,925
Mortgage Research Center, LLC 11 5.10% $12,788
LAND HOME FINANCIAL SERVICES, INC. 11 5.72% $12,707
LADERA LENDING, INC. 11 4.68% $17,214
MORTGAGE LENDING GROUP LLC 10 4.72% $16,257
Strong Home Mortgage, LLC 10 4.27% $10,188
MEMBER FIRST MORTGAGE, LLC 10 4.80% $4,261
PLAZA HOME MORTGAGE, INC. 10 4.83% $20,105
Prosperity Home Mortgage, LLC 10 5.50% $17,186
ZILLOW HOME LOANS, LLC 10 4.45% $12,880
Sierra Pacific Mortgage Company, Inc. 9 4.28% $10,903
Century Mortgage Company DBA Century Lending Company 9 4.65% $14,393
OnPoint Community Credit Union 9 4.79% $13,202
MORIA DEVELOPMENT, INC. 9 5.26% $15,011
Peoples Bank 8 4.52% $14,440
V.I.P. MORTGAGE, INC. 8 4.89% $14,995
TJC Mortgage, Inc. 8 4.56% $16,431
Bank of England 8 4.94% $14,961
SWBC MORTGAGE CORPORATION 8 4.95% $8,184
Summit Mortgage Corporation 8 5.78% $15,381
FIRST CENTENNIAL MORTGAGE CORPORATION 8 5.06% $13,864
Commerce Home Mortgage, Inc. 8 4.20% $12,791
NUMERICA CREDIT UNION 8 4.58% $13,794
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 4.75% $13,995
BAYSHORE MORTGAGE FUNDING, LLC 7 4.86% $14,481
RESIDENTIAL BANCORP. 7 4.85% $14,841
Ixonia Bank 7 6.18% $20,317
Amerifirst Financial, Inc. 7 5.84% $16,846
Barrington Bank & Trust Company, N.A. 7 4.21% $13,335
Glacier Bank 7 4.66% $13,955
BKCO MORTGAGE, LLC 7 4.84% $16,352
Chickasaw Community Bank 7 5.23% $10,058
LOANPAL, LLC 7 4.45% $19,249
NOVA FINANCIAL & INVESTMENT CORPORATION 7 5.84% $6,245
SOVEREIGN LENDING GROUP INCORPORATED 6 3.71% $15,385
SOUTHWEST STAGE FUNDING, LLC 6 5.10% $12,592
LOANLEADERS OF AMERICA, INC. 6 4.54% $18,319
THRIVE MORTGAGE, LLC 6 5.10% $18,395
M&T Bank 6 4.13% $11,191
MUFG Union Bank 6 4.29% $15,055
SECURITYNATIONAL MORTGAGE COMPANY 6 4.90% $12,727
CONTOUR MORTGAGE CORPORATION 6 3.98% $18,110
UNITED MORTGAGE CORP. 6 5.71% $20,043
PREMIER LENDING, INC. 6 4.56% $9,686
CITYWIDE HOME LOANS, LLC 6 4.56% $15,623
North American Savings Bank, F.S.B. 6 4.44% $9,724
PREMIA MORTGAGE, LLC 6 4.46% $10,215
Stride Bank 6 5.73% $16,026
Peoples Bank 5 5.30% $14,120
MICHIGAN MUTUAL, INC. 5 5.10% $15,876
Servion, Inc. 5 4.45% $9,007
Wyndham Capital Mortgage, Inc. 5 4.23% $11,295
GUARANTEED RATE AFFINITY, LLC 5 5.77% $14,896
LPMC, LLC 5 5.88% $13,024
AmeriHome Mortgage Company, LLC 5 4.42% $12,350
Heritage Bank 4 4.22% $13,386
HOME FUNDING CORPORATION 4 5.44% $22,571
Golden Empire Mortgage, Inc. 4 4.72% $12,581
IDAHO CENTRAL 4 4.97% $10,955
Franklin Loan Corporation 4 5.16% $23,466
FIRST CONTINENTAL MORTGAGE, LTD. 4 5.09% $18,845
Citizens Bank 4 4.28% $13,092
TOWNE MORTGAGE COMPANY 4 4.37% $16,017
Magnolia Bank 3 4.83% $17,694
WASHINGTON STATE EMPLOYEES Credit Union 3 6.04% $12,591
HOME MORTGAGE ALLIANCE, LLC 3 4.91% $14,909
Platinum Home Mortgage Corporation 3 5.58% $16,724
MEGASTAR FINANCIAL CORP. 3 3.88% $20,814
Cornerstone First Mortgage, Inc 3 4.29% $23,322
ROUNDPOINT MORTGAGE SERVICING CORPORATION 3 4.25% $14,285
RESIDENTIAL WHOLESALE MORTGAGE, INC. 3 4.54% $11,334
ARC HOME LLC 3 4.42% $11,936
PNC Bank 3 4.54% $14,391
OCMBC, INC. 3 4.08% $17,963
Austin Capital Bank SSB 3 5.75% $17,796
GESA 3 4.96% $12,544
KELLER MORTGAGE, LLC 3 3.88% $9,701
PHH Mortgage Corporation 3 4.17% $15,108
NBKC BANK 2 5.63% $8,648
OAKTREE FUNDING CORP. 2 6.31% $21,357
NuVision Federal Credit Union 2 5.25% $17,747
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 5.19% $9,477
NEW DAY FINANCIAL, LLC 2 5.00% $18,117
Network Funding, L.P. 2 5.69% $15,299
PULTE MORTGAGE LLC 2 4.44% $25,514
OPEN MORTGAGE, LLC 2 3.69% $9,729
ROYAL UNITED MORTGAGE LLC 2 5.13% $14,524
Credence Funding Corporation 2 4.94% $13,978
South Pacific Financial Corporation 2 4.50% $26,636
ML Mortgage Corp. 2 4.94% $17,587
EMM LOANS LLC 2 4.00% $22,664
LIBERTY HOME MORTGAGE CORPORATION 2 4.94% $9,824
First Interstate Bank 2 4.94% $8,135
First Savings Bank 2 4.94% $25,023
JLB CORPORATION 2 4.94% $13,058
Bank of America 2 4.94% $12,373
TRISTAR FINANCE, INC. 2 3.88% $17,464
UNION HOME MORTGAGE CORP. 2 5.88% $22,969
INTERCAP LENDING INC. 2 5.31% $16,865
UNITED SECURITY FINANCIAL CORP 2 4.88% $10,727
AmRes Corporation 2 3.37% $10,810
VISION ONE MORTGAGE, INC. 2 3.31% $8,181
GSF Mortgage Corporation 2 4.63% $20,405
WESTWOOD MORTGAGE, INC. 2 4.25% $40,655
ALLIED MORTGAGE GROUP, INC. 2 5.81% $8,795
GUARANTY HOME MORTGAGE CORPORATION 2 4.38% $15,047
BOKF 1 3.00% $14,379
The Union Bank Company 1 3.63% $7,860
Colten Mortgage, LLC 1 4.88% $11,725
OCEANSIDE MORTGAGE COMPANY 1 5.75% $6,321
GOLDEN WEST ALLIANCE, INC. 1 7.50% $9,467
HighTechLending Inc 1 4.25% $10,408
AHL FUNDING 1 6.25% $9,968
TruHome Solutions, LLC 1 3.13% $11,325
NexBank 1 4.63% $13,325
MYCUMORTGAGE, LLC 1 3.88% $13,764
HOMESPIRE MORTGAGE CORPORATION 1 5.63% $19,871
United Fidelity Funding Corp. 1 5.63% $34,590
SeaTrust Mortgage Company 1 6.63% $12,119
Mutual Federal Bank 1 4.63% $11,076
MOUNTAIN WEST FINANCIAL, INC. 1 6.25% $22,357
DIRECT MORTGAGE, CORP. 1 2.75% $20,459
Plains Commerce Bank 1 5.25% $7,957
DRAPER AND KRAMER MORTGAGE CORP. 1 4.63% $10,980
CIS Financial Services, Inc. 1 4.88% $17,830
Arvest Bank 1 4.88% $16,822
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.75% $16,238
MASON MCDUFFIE MORTGAGE CORPORATION 1 5.63% $11,074
BNC National Bank 1 3.75% $18,877
Bank of the West 1 7.63% $7,826
First Federal Savings Bank of Twin Falls 1 6.13% $15,782
INLAND BANK & TRUST 1 6.13% $16,688
NP, Inc. 1 3.88% $11,843
HORIZON 1 5.50% $14,303
The Central Trust Bank 1 3.25% $14,966

The top Washington FHA lender as defined by loan originations is CALIBER HOME LOANS, INC., with 859 FHA loans originated. Their average total fees are $14,711, which is $710 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Washington FHA lenders (with over 10 loans originated) are MEMBER FIRST MORTGAGE, LLC ($4,261), CHERRY CREEK MORTGAGE, LLC ($5,322), MID AMERICA MORTGAGE, INC. ($5,750), LAKEVIEW LOAN SERVICING, LLC ($8,444) and Wells Fargo Bank ($8,991).

The lowest rate Washington FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.63%), LAKEVIEW LOAN SERVICING, LLC (3.74%), KeyBank (3.79%), Lakeview Community Capital, LLC (3.90%) and AMERICAN FINANCIAL RESOURCES, INC. (4.05%).

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).