best home loans washington state guide for buyers

How to compare options

Finding the right mortgage in Washington means balancing rate, fees, and flexibility, not just chasing the lowest headline APR. Lenders weigh credit score, debt-to-income, down payment, and property type; the mix can change pricing by more than you expect.

Popular programs and trade-offs

Conventional loans reward strong credit with lower PMI but can be less forgiving. FHA eases credit and down payment, though lifetime mortgage insurance is a cost. VA offers zero down for eligible borrowers with standout terms, while USDA suits rural areas east of the Cascades. Fixed rates bring payment stability; ARMs start cheaper but add risk if you’ll stay beyond the initial period.

• Washington State Housing Finance Commission down payment assistance pairs with many loans, but income and price caps apply.
• Ask about discount points versus lender credits; the breakeven depends on how long you’ll keep the loan.
• Compare all-in costs: rate, origination, third-party fees, and prepaids at closing.

For the best home loans, collect three quotes on the same day, lock when terms fit your plan, and verify servicing quality so surprises don’t show up after closing.