Washington payment tool · West Capital Lending, Inc.
Washington Mortgage Payment Estimator
Estimate the full monthly payment on a Washington home — principal, interest, property taxes, and insurance — before you fall in love with a listing.
Washington plays by its own rules: no state income tax, no capital gains tax on real estate — but a Real Estate Excise Tax (REET) due when a home changes hands. Adam DeCraene (NMLS# 2811542), Mortgage Loan Originator with West Capital Lending, Inc., is licensed across Washington and built this estimator for Washington buyers, from Seattle to Spokane.
Run your numbers
Estimate a Washington Monthly Payment
Enter a home price, your down payment, and a rate you want to test — then add the property taxes and insurance for the specific home you're looking at. The rate is a modeling assumption you control; it is not a rate quote.
Your Washington scenario
Estimated total monthly payment
$4,215/moPrincipal & interest, plus estimated taxes and insurance, on a $560,000 loan.
Payment breakdown
How the monthly estimate is built
- Loan amount (price − down payment)
- $560,000
- Principal & interest
- $3,540/mo
- Property taxes (est., ÷ 12)
- $525/mo
- Homeowner's insurance (est., ÷ 12)
- $150/mo
- Estimated total monthly payment
- $4,215/mo
Estimates only. This estimator is an educational estimate — not a rate quote, an offer of credit, a commitment to lend, a loan approval, or tax or financial advice. The rate, taxes, and insurance shown are numbers you enter as modeling assumptions. Actual Washington property taxes depend on the specific property and its county and local levies, and they can change — confirm a property's taxes with the county assessor or treasurer. The estimate excludes mortgage insurance (PMI/MIP), HOA dues, and other costs that may apply to your loan. The estimator runs entirely in your browser: no personal information is collected or sent anywhere. For exact numbers on your situation, talk to Adam DeCraene, Mortgage Loan Originator, NMLS# 2811542 — call or text 949-393-6360.
Washington tax basics
How Washington Taxes Work Differently
General educational information about Washington's tax structure — not tax advice. A specific property's taxes and transfer costs depend on its location, so confirm them with the county treasurer.
No state income tax — and no capital gains tax on real estate
Washington has no state income tax, which is one reason take-home pay and housing budgets stretch differently here than in most states.
Washington does have a state capital gains excise tax — but real estate is exempt from it. Selling a Washington home does not trigger that tax. The transaction cost buyers and sellers budget for instead is the Real Estate Excise Tax, covered next.
The Real Estate Excise Tax (REET)
REET is a transfer tax due when property changes hands. It is calculated on the sale price, paid once at the transaction — it is not part of your monthly mortgage payment and it is separate from annual property taxes.
Because it scales with the sale price, REET is a closing cost worth budgeting for early, especially on higher-priced Puget Sound homes where the graduated tiers start to bite.
Graduated state tiers — like income tax brackets
The state portion of REET is graduated by price. Each rate applies only to the portion of the price inside that tier — the same way income tax brackets work — so crossing a threshold never taxes your whole price at the higher rate.
| Portion of the sale price | State rate |
|---|---|
| Up to $525,000 | 1.10% |
| $525,001 – $1,525,000 | 1.28% |
| $1,525,001 – $3,025,000 | 2.75% |
| Above $3,025,000 | 3.00% |
These thresholds are in effect through December 31, 2026, with the next adjustment on January 1, 2027.
Local REET — and why the total varies by address
On top of the state tax, most Washington cities and counties levy a local REET. In most populated areas, local REET typically adds 0.50% of the sale price.
That means the combined REET rate varies by city and county — two homes at the same price in different parts of Washington can carry different transfer-tax bills. Before you close, verify the combined rate for the property with the county treasurer.
Worked example
A $700,000 Washington Purchase, Broken Down
The estimator above, run on its example scenario — plus the REET due on the same sale. The 6.5% rate is an example assumption used for illustration — not a rate quote — and the tax and insurance figures are example amounts to replace with the real ones for any specific home.
The purchase
Example inputs
- Home price
- $700,000
- Down payment (20%)
- $140,000
- Loan amount
- $560,000
- Rate tested (example assumption)
- 6.5%
- Term
- 30 years
- Estimated annual property taxes
- $6,300/yr
- Estimated annual homeowner's insurance
- $1,800/yr
The monthly payment
What the estimator shows for this scenario
- Principal & interest
- $3,540/mo
- Property taxes ($6,300 ÷ 12)
- $525/mo
- Homeowner's insurance ($1,800 ÷ 12)
- $150/mo
- Estimated total monthly payment
- $4,215/mo
On this example, taxes and insurance add $675 a month on top of principal and interest — which is why the estimator asks for the specific property's tax figure instead of guessing a statewide average.
REET on the same sale
One-time transfer tax at the $700,000 sale price
- 1.10% on the first $525,000
- $5,775
- 1.28% on the remaining $175,000
- $2,240
- State REET subtotal
- $8,015
- Local REET at the typical 0.50%
- $3,500
- Combined REET (example)
- $11,515
Only the first tier and part of the second apply at this price — the 2.75% and 3.00% tiers don't come into play until the price passes $1,525,000. The local figure here uses the typical 0.50%; your combined rate varies by city and county, so verify it with the county treasurer.
What to take from the example
Two numbers, two different budgets
The $4,215/mo is the ongoing housing payment the estimator models. The $11,515 REET is a one-time transfer tax due when the property changes hands — it never appears in the monthly payment, but it belongs in the closing-cost budget from day one. Keeping the two separate is the simplest way to avoid a surprise at the closing table in Washington.
Statewide lending
Buying Anywhere in Washington
Adam DeCraene is licensed throughout Washington and works with buyers across the state — in Seattle and the greater Puget Sound area, Tacoma and Pierce County, Spokane and Eastern Washington, and everywhere in between, from Vancouver and the Tri-Cities to Bellingham and the Olympic Peninsula. Wherever the home is, the same Washington rules on this page apply: no state income tax, no capital gains tax on the real estate, and REET at the transfer — with the combined rate set by the property's city and county.
Based in Troy, Michigan, Adam serves Washington buyers remotely with the same process he runs at home — and with access to 175 wholesale lenders, he can shop programs for a Seattle condo, a Tacoma duplex, or a Spokane single-family home without being limited to one bank's rate sheet.
Relocating? Adam is licensed in 34 states and the District of Columbia, so he can help with the Washington purchase and the out-of-state sale or purchase on either side of a move.
First-time buyers: how much you need down depends on the loan program, not the state — and the right program can change the monthly payment more than a small price difference does. Ask Adam to check the current options across his lender network for your specific situation.
Common questions
Washington Mortgage & REET FAQs
How is a monthly mortgage payment figured in Washington?
The same way as in most states: principal and interest on the loan, plus one-twelfth of your annual property taxes, plus one-twelfth of your annual homeowner's insurance. If your loan has an escrow account, your lender or servicer collects the tax and insurance portions with each monthly payment and pays those bills from escrow when they come due. Mortgage insurance or HOA dues, if they apply to your loan, are added on top. The estimator on this page shows the principal-and-interest, tax, and insurance pieces separately so you can see how the total is built.
Does Washington have a state income tax or a capital gains tax on real estate?
Washington has no state income tax, and real estate is exempt from the state's capital gains excise tax. The transaction cost to budget for instead is the Real Estate Excise Tax (REET), a transfer tax due when property changes hands. REET is a one-time cost at the sale, not a monthly or annual tax, and it is separate from your property taxes.
What is the Real Estate Excise Tax (REET), and what would it be on a $700,000 sale?
REET is Washington's transfer tax, due when real estate changes hands. The state portion is graduated like income tax brackets: 1.10% on the portion of the price up to $525,000, 1.28% on the portion from $525,001 to $1,525,000, 2.75% on the portion from $1,525,001 to $3,025,000, and 3.00% on the portion above $3,025,000. On a $700,000 sale, the state REET is $5,775 (1.10% of $525,000) plus $2,240 (1.28% of the remaining $175,000), for $8,015. Local REET typically adds 0.50% in most populated areas — another $3,500 on $700,000 — for a combined $11,515. The combined rate varies by city and county, so verify the exact local rate with the county treasurer.
Are the REET rates and thresholds changing?
The current state REET thresholds — $525,000, $1,525,000, and $3,025,000 — are in effect through December 31, 2026. The next adjustment takes effect January 1, 2027. If you are planning a purchase or sale around the end of 2026, confirm the thresholds and your local rate with the county treasurer before you close, because the combined REET rate varies by city and county.
How much down payment do I need to buy a home in Washington?
It depends on the loan program, not the state. As typical guidelines that vary by lender and borrower profile: conventional loans can start as low as 3% down for qualified buyers, FHA loans at 3.5% down, and VA loans at 0% down for eligible veterans and service members. Larger down payments lower the loan amount and the monthly payment, and putting 20% down on a conventional loan avoids private mortgage insurance. Adam DeCraene is licensed in Washington and shops 175 wholesale lenders — he can check which programs you qualify for anywhere in the state.
Work With Adam
Adam DeCraene — Mortgage Loan Originator, NMLS# 2811542, CA DRE #02448241 — with West Capital Lending, Inc., licensed in Washington. Run your numbers above, then get the real figures for the specific Washington home you're considering — with access to 175 wholesale lenders behind the search.