Compare mortgage rates and fees for leading lenders in Seattle, WA. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Seattle.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Seattle. Plus, shopping lenders is free and there is no obligation.
February 20, 2020
The current average rate for a 30 year fixed rate mortgage in Seattle is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Seattle. Understand how much you need to earn to afford a home in Seattle, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Seattle fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Seattle is right for you.
The median home value for Seattle, WA (King County) is $649,825
Based on current mortgage rates and a 10% down payment, you need to make $116,952 per year to buy the median priced home in Seattle
With this income, you could qualify for a $584,843 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Seattle is $2,708
The median household income for Seattle, WA (King County) is $88,137
Based on this income, you can afford a home valued at approximately $489,723
The home price you can afford to buy based on household income in Seattle is 75% of the median home value which means housing prices are very expensive. Seattle (King County) ranks 38 out of 39 counties in Washington and 3,099 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Seattle, WA is very expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Seattle (King County) below.
Conforming loan limits for Seattle, WA
FHA loan limits for Seattle, WA
VA loan limits for Seattle, WA