Key Takeaways

• Statewide lending with Truss Financial Group as your Washington mortgage broker.
• Programs: Conventional, FHA, VA, USDA, Jumbo, HELOC, Non-QM.
• Non-QM choices include bank-statement, DSCR, and asset-depletion programs.
• TFG specialties: DSCR below 1.0 case-by-case and a fast Digital HELOC flow.
• Typical qualifying targets used by many lenders: Conventional ~620+, FHA from 580, DTI near or below 45 percent, and a two-year employment history.
• First-time buyer help: Washington State Housing Finance Commission (WSHFC) programs that can add down-payment or closing-cost assistance.
• Process: preapproval → offer and appraisal → underwriting → closing.
• Plan with a personalized quote rather than headline averages; county taxes and property type affect your payment.

Areas We Serve

We lend across the State of Washington. Our team regularly helps home buyers and homeowners in Seattle, Spokane, Tacoma, Vancouver, Bellevue, Everett, Olympia, and the Tri-Cities, as well as nearby counties.

If you live outside these cities, we can still assist you with the same care and speed.

How Do Home Loans Work in Washington State?

The path is clear once you see the steps. You begin with a preapproval, shop for a home, complete the appraisal, move through underwriting, then attend closing.

Along the way we explain your credit, DTI, down payment, closing costs, and your loan options.

What Are the Steps to Apply for a Home Loan in Washington State?

1) Get your documents together
Gather recent pay stubs, W-2s or tax returns, photo ID, and the last two months of bank statements. Start early so nothing slows your preapproval.

2) Get preapproved
We review credit, income, assets, and debts, then issue a preapproval letter. This strengthens your offer with sellers and sets a clear budget.
Start here: Get Pre-Approved

3) Choose your loan program
We compare Conventional, FHA, VA, USDA, Jumbo, and Non-QM options side by side for payment, cash to close, and total cost.

4) Appraisal and underwriting
A licensed appraiser estimates market value. Underwriting verifies your file and issues conditions. Upload requested items quickly; we guide you until “clear to close.”

5) Closing
Review your Closing Disclosure, confirm final numbers, and follow wiring instructions carefully. Sign, fund, and get your keys.

Pro tips

• Keep funds seasoned and avoid large unexplained deposits.
• Do not open new credit until after closing.
• Use our Washington Mortgage Calculator to test taxes, insurance, and HOA before you write an offer.

What Mortgage Options Are Available in Washington?

Use this table to compare common options. Eligibility depends on credit, income, property, county limits, and program rules.

Conventional Loans

Good for borrowers with solid credit, steady income, and a moderate down payment. If your loan amount exceeds your county’s conforming limit, you move into Jumbo territory.

FHA Loans

Designed for buyers building or rebuilding credit. Minimum 3.5 percent down with scores 580 or higher; some lenders consider 10 percent down at 500–579.

VA Loans

For eligible veterans and service members. Zero down in many cases and no monthly PMI for primary residences.

USDA Loans

Zero down in eligible rural areas with income limits and property maps. We check property eligibility and household income before you make an offer.

Jumbo Loans

For homes above conforming limits. Expect stronger reserves, higher scores, and conservative DTIs. We price several investor options to balance payment and cash to close.

WSHFC Programs

The Washington State Housing Finance Commission offers affordable first-mortgage options that can be paired with down-payment or closing-cost assistance. Income limits and purchase-price caps apply. We confirm the current fit for your county and profile.

Non-QM and Investor Solutions (TFG Specialties)

• Bank-Statement Loans: Qualify with business or personal deposits when tax returns do not reflect cash flow.
• DSCR Loans: Underwritten to property rent and projected PITI rather than W-2 income.
• TFG specialty: DSCR below 1.0: Case-by-case when cash flow is temporarily tight; we review reserves, equity, and rent trends.
• Asset-Depletion Programs: Convert verified assets into qualifying income.
• Interest-Only Options: Lower required payment for a period while preserving flexibility.

Home-Equity Options

• HELOC vs Fixed-Rate HELOAN: Weigh variable flexibility against fixed payment stability.
• Digital HELOC (TFG Specialty): Apply online, upload documents, and track progress in a streamlined flow.

Buying a House in Washington State

Prices vary widely by metro and county. Your monthly payment will depend on price, down payment, rate, property taxes, insurance, and any HOA. Use our calculator to test scenarios before you write an offer.

What Credit Score Is Needed to Buy a House in Washington State?

Conventional: typically 620+.

FHA: 580+ with 3.5 percent down; some lenders consider 500–579 with 10 percent down.

VA and USDA: no hard agency minimums; lenders set practical floors and evaluate the full file.

Can I buy a home with less-than-perfect credit?

Yes, FHA and certain state-backed programs like WSHFC accept lower credit scores with additional conditions.

What Is the Minimum Down Payment for a House in Washington State?

• Conventional: 3–5 percent for many first-time or well-qualified buyers.
• FHA: 3.5 percent with 580+ credit.
• VA and USDA: zero down if eligible.
• Jumbo: usually 10–20 percent depending on profile.
• WSHFC assistance: can reduce required cash at closing if you qualify.

  Loan Type	Minimum Down	Eligible Buyers
  Conventional	3%	First-time and repeat
  FHA	3.5%	Lower-credit borrowers
  VA	0%	Eligible veterans and service members
  USDA	0%	Rural-eligible buyers
  WSHFC	Assistance available	Qualifying residents

  What Programs Help First-Time Home Buyers in Washington State?

  • Washington State Housing Finance Commission (WSHFC): Offers down payment and closing cost assistance
  • Home Advantage Program: Low-rate mortgage paired with down payment help
  • House Key Opportunity Program: Lower rates for qualified first-time buyers

  Can I combine WSHFC assistance with FHA or VA loans?

  Yes, many buyers use WSHFC programs alongside FHA or VA loans to reduce upfront costs.

  What Is the Current Mortgage Rate in Washington State?

  Rates change daily and are based on your profile. Lenders price using credit score, down payment, DTI, loan amount, loan type, points, property type, and lock period. Use national surveys for trend awareness, then request a personalized quote with a preapproval.

  Mini FAQ:

  Q: How can I get the best mortgage rate?

  A: Compare multiple lenders, improve your credit score, and consider buying discount points.

  How Do I Apply for an FHA Loan in Washington State?

  • Step 1: Get prequalified with an FHA-approved lender
  • Step 2: Verify income, employment, and credit score (580+)
  • Step 3: Complete appraisal on FHA-approved property
  • Step 4: Close once underwriting clears conditions

  FHA Loan Requirement	Minimum Standard
  Credit Score	580+
  Down Payment	3.5%
  DTI	≤ 45%
  Property	Primary residence only

How Much Does It Cost to Buy a House in Washington?

Ask us for a county closing-cost estimate that lists transfer taxes, recording, title charges, and prepaids upfront.

What Is the Washington Mortgage Loan Interest Rate?

Your interest rate is the price of borrowing principal. It is set daily by lenders and depends on your file, not a headline average.

For a Washington loan, we price your rate using your credit score, loan-to-value, debt-to-income, loan amount, loan type (Conventional, FHA, VA, USDA, Jumbo, Non-QM), points elected, property type (single-family, condo, 2–4 unit), occupancy, and the lock period.

Rate vs APR

• Rate drives the monthly principal and interest.
• APR wraps in certain lender and third-party costs so you can compare offers fairly.

How to lower your rate

• Nudge your credit tier higher if you are near a cutoff.
• Improve LTV with a slightly larger down payment.
• Price with and without discount points and check the break-even months.
• Consider fixed vs ARM based on your time horizon.
• Ask whether a float-down is available if market rates fall before closing.

Washington specifics

• County property taxes and HOA dues do not change your interest rate, but they do change your total payment and may affect approval.
• First-time buyers using WSHFC assistance can pair help with FHA or Conventional; the assistance does not guarantee a lower rate, but it can reduce cash to close.

Washington Mortgage Loan Calculator

Estimate your payment with our calculator, then ask for a written preapproval.

Washington First Mortgage

If you are purchasing your first home, consider WSHFC first-mortgage options that can combine affordable rates with down-payment assistance. We will verify eligibility and model total cost with and without assistance.

Washington Mortgage Loan Lender

Truss Financial Group (TFG) is your Washington mortgage lender and broker. We pair local knowledge with broad lender access, so you get competitive pricing and a fast, organized close. Our team works statewide and knows how county taxes, condo rules, and WSHFC assistance affect your total payment.

Why borrowers choose TFG

• Local expertise, broker reach: We shop with multiple investors and credit unions that serve Washington to find the right fit for your file.
• Transparent quotes: Side-by-side worksheets that show rate, APR, points or credits, cash to close, and monthly payment.
• Fast timelines: Tight coordination with your agent, appraiser, and escrow to hit 30–45 day closings.
• Program depth: Conventional, FHA, VA, USDA, Jumbo, HELOC, and Non-QM (bank-statement, DSCR, asset-depletion, interest-only).
• WSHFC guidance: We model Home Advantage and other WSHFC options with FHA or Conventional if they reduce cash to close.
• Investor solutions: Case-by-case DSCR below 1.0 review where guidelines allow, plus Digital HELOC for speed.

How we work

1. Preapproval that sellers respect: Clean income and asset review, clear budget, and a strong letter.
2. Options, not pressure: We compare programs and show break-even on points vs credits and fixed vs ARM.
3. No surprises at closing: County-specific closing-cost estimate with transfer, recording, title, and prepaids listed upfront.

Apply for a Home Loan in Washington State

Ready to begin with Truss Financial Group? Get a fast preapproval, compare Conventional, FHA, VA, USDA, Jumbo, HELOC, and Non-QM options, and see whether you qualify for WSHFC assistance. We provide a clear budget, a plain explanation of fees and timelines, and a path to closing.

Frequently Asked Questions

1. Are there property tax exemptions for first-time home buyers in Washington?

   Some counties offer exemptions or reductions for seniors, disabled homeowners, and qualifying veterans. First-time status alone is not usually an exemption. Tell us your county and we will check the current rules and income caps.

2. Can I use gift funds for my down payment?

   Yes. Most programs allow gifts from approved donors with a signed gift letter and documented transfer. We will provide the exact letter and sourcing steps so the funds are acceptable to underwriting.

3. Do I need private mortgage insurance (PMI) in Washington?
   For Conventional loans with less than 20 percent down, PMI is required. It can be paid monthly, lender-paid, or single-premium. FHA loans use mortgage insurance premiums (MIP). VA loans have a funding fee but no monthly PMI.
4. How long does it take to close on a mortgage in Washington?

   Most files close in 30 to 45 days, driven by appraisal timing, title work, and how quickly conditions are cleared. We coordinate with your agent, escrow, and the appraiser to keep the file on track.

5. Can I refinance my Washington mortgage to lower my rate later?

   Yes. If rates improve and you meet seasoning, equity, and credit requirements, we can evaluate a rate-and-term refinance or a cash-out option. We will model break-even months and total cost before you commit.