Current Mortgage Rates in Tacoma, Washington

Compare mortgage rates and fees for leading lenders in Tacoma, 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 Tacoma.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Tacoma. Plus, shopping lenders is free and there is no obligation.

Mortgage Rates in Tacoma, WA as of September 21, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Tacoma, WA Mortgage Rates Compare?

September 21, 2020

The current average rate for a 30 year fixed rate mortgage in Tacoma 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%

Mortgage Program
Tacoma, WA Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Tacoma, Washington?

Below we provide helpful information on the real estate market, home prices and housing affordability in Tacoma. Understand how much you need to earn to afford a home in Tacoma, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Tacoma 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 Tacoma is right for you.

The median home value for Tacoma, WA (Pierce County) is $381,559

Based on current mortgage rates and a 10% down payment, you need to make $68,671 per year to buy the median priced home in Tacoma

With this income, you could qualify for a $343,403 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 Tacoma is $1,590

The median household income for Tacoma, WA (Pierce County) is $67,372

Based on this income, you can afford a home valued at approximately $374,340

The home price you can afford to buy based on household income in Tacoma is 98% of the median home value which means housing prices are expensive. Tacoma (Pierce County) ranks 29 out of 39 counties in Washington and 3,001 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Tacoma, WA is expensive


Loan Limits for Tacoma, Washington

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Tacoma (Pierce County) below.

Conforming loan limits for Tacoma, WA

1 unit: $741,750
2 units: $949,600
3 units: $1,147,800
4 units: $1,426,450

FHA loan limits for Tacoma, WA

1 unit: $741,750
2 units: $949,600
3 units: $1,147,800
4 units: $1,426,450

VA loan limits for Tacoma, WA

1 unit: $741,750

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