Washington Conventional Loans 2026
Yes, Washington buyers can get a conventional loan with as little as 3% down, and its PMI is removable at 20% equity, unlike FHA's often-permanent mortgage insurance. King County's high conforming limit ($1,063,750) covers most Seattle-area homes without a jumbo loan.
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.
What are today's conventional loan rates in Washington?
Conventional rates in Washington update daily and are shown live below. If you start with PMI, it is not permanent, and you can plan ahead for how to cancel PMI once you reach 20% equity.
Today’s 30-Year Fixed (Conventional) Rate
Conventional – Primary Residence
Rate Assumptions
30 year fixed, $300k loan amount, $400k value, purchase, FICO Credit Score 759, Zipcode 95111
APR & Disclosures
The Annual Percentage Rate (APR) shown reflects the cost of credit over the loan term, including applicable fees, and is based on the assumptions above. Your actual rate and APR depend on your credit profile, loan amount, property, occupancy, and other factors. For information purposes only and does not constitute a loan approval or commitment to lend. Rates are subject to change without notice.
What are the conventional loan limits in Washington?
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 do Washington buyers choose conventional loans?
Washington buyers choose conventional financing for removable PMI, lower long-term cost with strong credit, fewer condo restrictions, and eligibility for second homes and investment properties. Buyers weighing the alternative can see how a Washington FHA loan handles credit and down payment differently.
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.
Should I choose conventional or 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.
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
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- ✓ Local Washington market expertise
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- ✓ Same-day pre-qualification available
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Washington's 2026 conforming loan limit is $1,063,750 for a single-unit home. Adjust the price, down payment, rate, and term to see your full monthly payment.
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From the blog & learning center
Conventional Loan Guides & Articles
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The Family Opportunity Mortgage: How to Buy a Home for Your Parents or Children with Primary Residence Perks
Discover how the Family Opportunity Mortgage allows you to purchase a home for aging parents, adult children, or disabled family members with just 5% down and primary residence rates—saving tens of thousands compared to investment property financing.
Read moreConventional vs. FHA Loans: The Ultimate 2026 Comparison Guide
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