How to buy a house in washington state

What credit score is needed to buy a house in Washington state?


Is it a good time to buy a home in Washington State?

Historically, March through April represents the best months for buyers in Washington State. Winter is also a good time to purchase a home, though, since this is when prices tend to plateau. … This also makes winter a great time to buy, since you’ll have less competition. The current market in Washington is promising.

What is the minimum down payment on a house in Washington state?


How much does it cost to buy a house in Washington state?

As of February 2020, the median price for a home in Washington State was $412,900. With a 10% down payment (the average amount paid), that would result in a loan amount of $371,610 and a monthly payment $1,657 at the current interest rate of 3.47% for a 30-year fixed-rate mortgage.

What is the cheapest place to live in Washington state?

Here’s a list of the most affordable cities in Washington state:

  • Olympia, Wash.
  • Richland, Wash.
  • Bothell, Wash.
  • Auburn, Wash.
  • Redmond, Wash.

How much is closing cost on a house in Washington state?

However, the average home buyer closing costs in Washington state tend to be between 1 and 3% of the property’s total purchase price. Luckily, lenders must provide homebuyers with a loan estimate, including an estimate of closing costs, within three days of receiving their loan applications.

What is the safest city in Washington state?


Is Washington or Oregon cheaper to live in?

Oregon is definitely cheaper. No sales tax definitely makes it cheaper. … The coasts are better in Oregon than in Washington. But in Washington State you don’t pay income tax.

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Is Seattle in a housing bubble?

According to the Seattle economists interviewed in an article on K5 News, we are not in another housing bubble. It appears as though things are slowing down so that people’s incomes can catch up with the housing prices in the area.

How much money do you need to live comfortably in Seattle?

You need to make $72,092 a year to live comfortably in Seattle.

How much deposit do I need to buy a house in WA?

If you have started saving you can start to look at buying once you have at least 5% of the purchase price. If you have between 5% and 20% of the purchase price, you may need to pay what’s called Lenders Mortgage Insurance, which enables us to lend you a larger percentage of the purchase price.

What is the average mortgage payment in Washington state?

$1,131.93 per month

What’s the cheapest state to buy a house in?

Cheapest States to Buy a House, Ranked

  1. Arkansas. Median home price: $122,200. …
  2. Oklahoma. Median home price: $126,800. …
  3. West Virginia. Median home price: $132,400. …
  4. Kentucky. Median home price: $135,000. …
  5. Ohio. Median home price: $138,200. …
  6. Mississippi. Median home price: $138,700. …
  7. Kansas. Median home price: $143,200. …
  8. Alabama.

Do you pay sales tax on a house in Washington?

Washington state levies a real estate excise tax (REET) on all property sales. This state tax rate is 1.28% of a property’s full selling price.

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