Mortgage Calculator Washington 2026: Payment, PMI & Real Estate Excise Tax (REET)
This mortgage calculator for Washington estimates your full monthly payment — principal & interest, property tax, homeowners insurance and PMI — plus the graduated state REET. Enter your own rate; everything is calculated privately in your browser.
A mortgage calculator for Washington estimates the full monthly cost of a Washington home loan: principal and interest from standard amortization, plus property tax, homeowners insurance and private mortgage insurance (PMI) when you put down less than 20%. It also shows the graduated state REET due at closing.
How the Mortgage Calculator Washington Formula Works (Worked Example)
Principal and interest use the standard amortization formula M = P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of payments. Property tax is the home price × your local rate ÷ 12, insurance is your annual premium ÷ 12, and PMI is the loan amount × your PMI rate ÷ 12. Example: a $600,000 Washington home, 10% down, 30-year fixed at a user-entered 6.5% (click Load Example above to reproduce it).
| Item | Inputs | Monthly |
|---|---|---|
| Principal & interest | $540,000 loan, 6.5%, 360 payments | $3,413.17 |
| Property tax | 0.75% of $600,000 ($4,500/yr) | $375.00 |
| Homeowners insurance | $1,500/yr (example — use your quote) | $125.00 |
| PMI | 0.6% of $540,000 ($3,240/yr) | $270.00 |
| Total monthly payment | $4,183.17 | |
| State REET, seller (one-time) | on $600,000 | $6,735.00 |
Over 30 years this loan pays about $688,740 in interest. Your rate is an input, not an assumption — check the current weekly national average in Freddie Mac’s Primary Mortgage Market Survey and compare lender Loan Estimates.
Washington Property Tax Rate and Your Monthly Payment
The Tax Foundation puts Washington’s effective property tax rate at about 0.75% of owner-occupied home value (annual property tax paid ÷ home value, from Census American Community Survey data), so the calculator defaults to 0.75%. Washington property tax is a levy on assessed value set by your county assessor, and the state school levy is part of every bill. Rates differ by taxing district, so use the levy rate per $1,000 shown for your parcel on the county assessor or treasurer site (divide by 10 to get a percentage).
| Effective rate | Annual tax on $600,000 | Added to monthly payment |
|---|---|---|
| 0.56% | $3,360 | $280.00 |
| 0.75% (Tax Foundation statewide average) | $4,500 | $375.00 |
| 1.05% | $6,300 | $525.00 |
Washington Closing Costs: Real Estate Excise Tax (REET) and Other Fees
Washington charges a real estate excise tax (REET) on the sale price, and it is the seller’s obligation, although the buyer is liable if it goes unpaid (MRSC). The state portion is graduated under RCW 82.45.060 (Washington DOR): 1.1% on the first $525,000, 1.28% from $525,000 to $1,525,000, 2.75% from $1,525,000 to $3,025,000 and 3% above that. These thresholds apply through December 31, 2026; from January 1, 2027 they rise to $551,000, $1,551,000 and $3,051,000. Cities and counties add local REET — usually 0.25% or 0.5% — which the calculator does not include.
| Washington item | Amount | Usually paid by |
|---|---|---|
| State REET (RCW 82.45.060), 2026 tiers | 1.1% to $525,000; 1.28% to $1,525,000; 2.75% to $3,025,000; 3% above — $6,735 on $600,000 | Seller |
| Local REET (city/county) | Usually 0.25%–0.5% of the price | Seller |
| County recording fees | Set by the county — see your Loan Estimate | Party recording the document |
| Escrow deposits for tax and insurance | Set by your lender — see your Loan Estimate | Buyer |
| Lender, appraisal and title charges | Vary by lender and title company — compare Loan Estimates | Negotiable |
Some costs are negotiable, and sellers sometimes cover part of a buyer’s closing costs as a concession.
How Washington Mortgage Rates Affect Your Payment
Rates in Washington follow national mortgage markets and vary by lender, credit score, down payment and loan type. On a $590,000 home with 20% down, an example rate of 6.75% produces a monthly principal and interest payment of about $3,061. A 0.25-point higher rate adds roughly $79 a month, so shopping several lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk, while a fixed rate keeps principal and interest the same for the whole term. FHA loans (3.5% down) and VA loans (0% down for eligible veterans) are alternatives to a conventional loan in Washington.
First-Time Buyer Programs in Washington
The Washington State Housing Finance Commission offers Home Advantage and House Key Opportunity loans with down payment assistance; check the Commission for current income limits and terms.
FHA loans are available nationwide and require 3.5% down with a 580+ credit score. USDA loans offer 0% down for eligible rural properties in Washington. VA loans are available to qualified veterans and active-duty service members with no down payment required and no PMI.
If your down payment is below 20%, Private Mortgage Insurance (PMI) on a $540,000 loan adds about $270/month at a 0.6% annual rate. Experian, citing the Urban Institute puts typical PMI at roughly 0.46%–1.5% of the loan per year depending on credit score, so enter your lender’s quote in the PMI field. PMI can be removed once your loan-to-value ratio reaches 80%, and extra payments get you there sooner.
Last updated: October 2026. Estimates only — confirm figures with your lender, title company and local tax office.
Frequently Asked Questions
What is the average mortgage rate in Washington in 2026?
Washington mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year fixed average, then compare quotes from several lenders - your rate depends on credit score, down payment and loan type. The 6.75% default in this calculator is only an example.
What is the average monthly mortgage payment in Washington?
There is no single average - it depends on price, rate and local tax. As an example, a $590,000 home with 20% down at 6.75% has principal and interest of about $3,061 a month; adding 0.75% property tax and $1,500 a year for insurance gives an estimated PITI of about $3,555 a month.
Do I need PMI in Washington?
Usually, if your down payment on a conventional loan is less than 20%, lenders in Washington require Private Mortgage Insurance (PMI). The Urban Institute puts typical PMI at about 0.46%-1.5% of the loan amount per year, depending mainly on credit score. PMI can be removed once you reach 20% equity, and VA loans have no PMI.
What home price should I enter for Washington?
Enter the actual purchase price or list price you are considering. The $590,000 default is an example, not a statewide median - prices vary widely by city and county in Washington, so the payment for your home can be much higher or lower.
What is the property tax rate in Washington?
The Tax Foundation puts Washington’s effective property tax rate on owner-occupied homes at about 0.75% of home value - roughly $4,425 a year on a $590,000 home. Actual rates vary by county, city and school district, so use the rate from your own tax bill or listing.
How much is the real estate excise tax in Washington?
Washington’s state REET is graduated: 1.1% of the price up to $525,000, 1.28% to $1,525,000, 2.75% to $3,025,000 and 3% above, for sales through 2026 - $6,735 on a $600,000 home. Local REET of usually 0.25% to 0.5% is added. The seller normally pays it.
What is the monthly payment on a $600,000 house in Washington?
With 10% down and a 30-year fixed loan at 6.5%, principal and interest is about $3,413 a month. Adding 0.75% property tax ($375), $1,500 a year insurance ($125) and 0.6% PMI ($270) brings the total to about $4,183 a month.