Washington Conventional Loans 2026
Conventional loans offer Washington's strongest financing option for buyers with good credit. With limits up to $1,063,750 in Seattle metro and PMI removal at 20% equity, conventional financing covers most of Washington's housing market.
Washington Conforming Loan Limits (2026)
Conventional loans follow FHFA conforming limits. King, Snohomish, and Pierce counties qualify for high-cost limits.
| County / Metro Area | 2026 Limit (1-Unit) | Classification |
|---|---|---|
King (Seattle) | $1,063,750 | High-Cost |
Snohomish (Everett) | $1,063,750 | High-Cost |
Pierce (Tacoma) | $1,063,750 | High-Cost |
San Juan | $832,750 | Standard |
Clark (Vancouver) | $832,750 | Standard |
Spokane | $832,750 | Standard |
Thurston (Olympia) | $832,750 | Standard |
Kitsap (Bremerton) | $832,750 | Standard |
Benton (Tri-Cities) | $832,750 | Standard |
Whatcom (Bellingham) | $832,750 | Standard |
Note: These are single-unit limits. 2-4 unit properties have higher limits. Loans above these amounts require jumbo financing.
Why Washington Buyers Choose Conventional Loans
PMI Removal
Unlike FHA, conventional PMI can be removed at 20% equity. With Washington's strong appreciation, many reach this faster than expected.
Lower Total Cost
For 700+ credit buyers, conventional typically beats FHA on total loan cost. No upfront mortgage insurance, lower rates available.
Condo Flexibility
Conventional loans have fewer condo restrictions than FHA. Most Seattle high-rises and townhome communities qualify.
Investment Property
Conventional financing works for second homes and investment properties. 15-25% down for non-primary residences.
No Income Tax Boost
Washington's no state income tax means more qualifying income. Tech workers especially benefit from higher take-home pay.
Flexible Down Payment
From 3% (Conventional 97) to 20%+. Choose the balance between cash preservation and monthly payment that works for you.
Conventional vs. FHA in Washington
| Feature | Conventional | FHA |
|---|---|---|
| Min Credit Score | 620 | 580 |
| Min Down Payment | 3% | 3.5% |
| PMI Removal | Yes, at 20% | No (life of loan) |
| King County Limit | $1,063,750 | $1,063,750 |
| Upfront MI | None | 1.75% |
| Investment Property | Yes | No |
Verified as of July 2026 (FHFA/HUD)
Our Recommendation: We run a detailed comparison for every client. Generally, buyers with 700+ credit and 5%+ down save more with conventional. Lower credit or minimal savings often benefit from FHA's flexibility.
Conventional Loans by Washington City
Washington Conventional Loan FAQs
What is the conventional loan limit in King County?
The 2026 conforming limit for King County is $1,063,750 for single-family homes. This covers most Seattle metro inventory. Homes above this require jumbo financing.
Can I put less than 20% down on a conventional loan?
Yes! Conventional loans start at 3% down with PMI. The PMI can be removed once you reach 20% equity, unlike FHA where it stays for the life of the loan.
What credit score gets the best conventional rates?
740+ credit scores qualify for the best rates. However, 700+ is typically sufficient for competitive pricing. We work with scores as low as 620.
Can I use conventional for a vacation home in Washington?
Yes, conventional loans work for second homes and investment properties. Expect 10-15% down for vacation homes and 15-25% for investment properties.
Is conventional better than FHA for Seattle condos?
Usually yes. Conventional has fewer condo restrictions, and most Seattle buildings qualify. We verify eligibility before you make an offer.
Get Your Conventional Quote
Connect with Emmett directly. Quick response, personalized guidance for your Washington home purchase.
Why Contact Emmett?
- ✓ Local Washington market expertise
- ✓ Access to 240+ wholesale lenders
- ✓ Same-day pre-qualification available
- ✓ No obligation, free consultation
From the blog & learning center
Conventional Loan Guides & Articles
What Is PMI and How Do I Get Rid of It?
Private mortgage insurance (PMI) is a monthly charge added to conventional loans when you put down less than 20%. On most conventional loans it cancels automatically once you reach 22% equity, and you can request removal at 20%.
Read more
2026 Conforming Loan Limits by County: High-Cost Areas in the 18 States I Serve
The 2026 baseline conforming loan limit is $832,750, but 9 of the 18 states I'm licensed in have counties with higher limits — here's the exact figure for every above-baseline county.
Read more
Down Payment Assistance Programs by State
Most states offer some form of down payment assistance, and many buyers qualify without realizing it.
Read more
Down Payment Reality Check: How Much You Actually Need
You don't need 20% down to buy a house.
Read more
How Much Down Payment Do You Need for a Conventional Loan?
The 20% rule is a myth. On a conventional loan you can put down as little as 3% as a first-time buyer or 5% otherwise, with 5% required on high-balance loans. Here is how to find your real down payment number.
Read more
How to Buy a House With Little Money Saved
You can buy a home with very little saved by combining a low or zero down payment loan with down payment assistance and seller-paid or lender-paid closing costs.
Read more