Mortgages in Washington: what to know before you borrow.
How closings, taxes, insurance and building actually work in Washington, in plain English, and which program fits which borrower. Buying in Seattle, Bellevue and the Eastside, Tacoma or anywhere else in the state: start here, then ask Rosie the specifics. Sean originates in all 50 states.
The Washington realities that shape a loan
How closings work
Escrow companies handle closings; attorneys are uncommon at the table. There is no state income tax.
Taxes and transfer costs
The seller pays a real estate excise tax on the sale, and property taxes are set locally with voter-approved levies that move year to year.
Insurance
Earthquake coverage is a separate policy most owners skip, and lenders do not require it; river and coastal flood zones do require flood insurance.
Building and renovating
Growth-management rules concentrate building inside urban growth boundaries; outside them, well, septic and critical-area reviews add time to a build.
Veterans
Joint Base Lewis-McChord, Naval Base Kitsap and Whidbey Island make this a major veteran market; the Seattle-area counties are high-cost, relevant to partial-entitlement veterans.
State programs
First-time and lower-down-payment programs in Washington run through the Washington State Housing Finance Commission. Ask Rosie whether one fits before you assume it does not.
Plain-English notes, not legal or tax advice. Verify the specifics for your county and town.
Pick the page for who you are
The program fits the borrower, not the zip code. Each page is written for Washington.
Washington mortgage FAQ
Does Sean lend in Washington?
Yes. Sean originates in all 50 states, Washington included, through a national portfolio lender with the same file and the same underwriter from application to close.
What is different about buying in Washington?
Escrow companies handle closings; attorneys are uncommon at the table. There is no state income tax. The seller pays a real estate excise tax on the sale, and property taxes are set locally with voter-approved levies that move year to year.
Which program fits me in Washington?
It depends on who you are, not where you are: physicians, veterans, builders, renovators and high-net-worth borrowers each have a page for Washington below. If you are not sure, ask Rosie first, free, any hour, and book Sean when you are ready.
Ask first. Book when you're ready.
No forms. No credit check. No follow-up calls unless you ask for one. Just a conversation with Rosie about Washington.
Ask Rosie