Published February 6, 2026

What Types of Mortgages Are Common in Washington State?

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Written by Larissa Butler

What Types of Mortgages Are Common in Washington State? header image.
Long gone are the days where 20% down was the "norm". Nowadays most homebuyers are getting creative with their down payments and their mortgage types. Mortgage options can feel overwhelming at first, but most buyers in Washington end up choosing from a small handful of loan types. The key is understanding how each one works in real life.

1. Conventional Loans Are the Most Common

Conventional loans are popular with buyers who have solid credit and steady income. They offer flexibility and often come with competitive interest rates. Many move-up buyers in King and Pierce County fall into this category.

2. FHA Loans Help First-Time Buyers

FHA loans allow for lower down payments, which can be a game changer for first-time buyers. They’re especially common in Pierce County where buyers are entering the market for the first time.

3. VA Loans Support Military Buyers

VA loans are widely used near JBLM and surrounding areas - however aren't area exclusive. These loans offer flexible terms and are a huge benefit for eligible service members. There may be restrictions on which homes will allow a VA loan - so always check first.

4. Jumbo Loans Come Into Play at Higher Prices

In higher-priced areas of King County, jumbo loans are sometimes required. These loans have different guidelines and usually require stronger financial profiles.

5. The Best Loan Is the One That Fits Your Life

There’s no universal best loan. The right option depends on your goals, comfort level, and long-term plans. A great lender will compare these for you so you can make the best decision.
Loan choice should support your life, not complicate it. If you’re planning a move or just exploring options, contact me.

Categories

Community, Homebuyers, Homeowners, Sellers

Tags

Affordable homes Washington, Alternative financing, Bonney Lake WA homes for sale, Community development, Enumclaw WA homes, Family-friendly neighborhoods in, Future growth areas, Home buying tips, How to sell your home fast, Lake Tapps real estate agent, Larissa Butler Realty, Local real estate trends, Maple Valley WA real estate, Neighborhood appreciation, Pierce County real estate, Pierce County real estate expert, PNW real estate marketing, Real estate investment, Real estate photography tips, South King County homes for sale, South King County real estate, Unique home features buyers love, Up-and-coming neighborhoods, Washington home selling tips

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