Guides · Buying
Seattle mortgage payment calculator, with taxes and insurance
Your monthly payment is more than the loan. On a Seattle-area home it is principal and interest, property tax and home insurance, and often mortgage insurance and HOA dues too. With 20% down on an $850,000 Seattle home at this week's average rate of 7.32%, that comes to about $5,476 a month. The calculator below adds it up for your numbers. Your lender's quote is the real number.
Estimate your monthly payment#
Change any number. Nothing you type is sent anywhere; the arithmetic happens on your screen.
| Item | Per month |
|---|---|
| Total per month |
Sources
- Freddie Mac Primary Mortgage Market Survey, Freddie Mac
- 2026 levy rates, King County, King County Assessor
- 2026 levy rates, Snohomish County, Snohomish County Assessor
- Homeowners insurance report (2023 data), NAIC
- HUD Handbook 4000.1, Appendix 1.0 (FHA mortgage insurance), HUD
- VA funding fee and closing costs, U.S. Department of Veterans Affairs
- What is private mortgage insurance?, Freddie Mac
- 2026 conforming loan limits by county, FHFA
An $850,000 Seattle home, worked#
The same arithmetic, with 20% down on a 30-year loan at 7.32%, Freddie Mac's national average for the week of October 22, 2026.
| Item | Per month |
|---|---|
| Principal and interest$680,000 borrowed at 7.32% for 30 years | $4,671 |
| Property taxSeattle's 2026 levy rate, $9.91 per $1,000, using the price as the value | $702 |
| Home insuranceThe Washington average, $1,232 a year (2023 data). Your quote will differ | $103 |
| Total per monthDown payment $170,000 | $5,476 |
With an FHA loan and 3.5% down instead, the same home comes to about $7,050 a month. That includes FHA's upfront premium added to the loan and its annual premium of 0.75% a year.
Wondering what this means for your budget?
Book a 30-minute buying callWhat each line is#
Principal and interest. The loan itself, paid off over the term. The rate is the biggest lever: on a large Seattle loan, a quarter of a point is real money every month. Freddie Mac publishes its average every Thursday. It assumes good credit and 20% down, so your quote can be higher or lower.
Property tax. The county multiplies its levy rate by the assessed value, then divides by 1,000. The assessed value is close to the price, but not the same. Washington property tax is due in two halves, by April 30 and October 31. Most lenders collect it monthly with your payment and pay it for you.
Home insurance. Your lender requires it. The calculator starts from the Washington average, which is from 2023, so a quote today is likely higher. A condo owner's policy costs less, because the building's master policy covers the structure.
HOA or condo dues. Set by the association, and they can rise. Read the budget and the reserve study before you write an offer. What to check in a condo.
Sources
- RCW 84.56.020, when property tax is due, Washington State Legislature
- 2026 levy rates, King County, King County Assessor
- 2026 levy rates, Snohomish County, Snohomish County Assessor
- Homeowners insurance report (2023 data), NAIC
Mortgage insurance: PMI, FHA and VA#
Conventional loans (PMI). With less than 20% down, a conventional loan usually carries private mortgage insurance. There is no single rate. Freddie Mac says it usually costs $30 to $70 a month for every $100,000 borrowed. You can ask to cancel it once you owe 80% of the home's original value, and it ends on its own at 78%.
FHA loans (MIP). FHA charges an upfront premium of 1.75%, usually added to the loan, and an annual premium paid monthly. On a 30-year FHA loan the annual premium is 0.50% or 0.55% a year up to $726,200, and 0.70% or 0.75% on a larger loan, which is common in Seattle. With 10% or more down it lasts 11 years. With less, it lasts the life of the loan unless you refinance.
VA loans. No monthly mortgage insurance. Instead there is a one-time funding fee: 2.15% with less than 5% down on a first VA loan, less with a bigger down payment. Veterans who receive VA disability compensation do not pay it.
Sources
- What is private mortgage insurance?, Freddie Mac
- When can I remove PMI?, Consumer Financial Protection Bureau
- HUD Handbook 4000.1, Appendix 1.0 (FHA mortgage insurance), HUD
- VA funding fee and closing costs, U.S. Department of Veterans Affairs
What the payment leaves out#
Closing costs. Cash you bring on top of the down payment. What closing costs add up to.
Down payment help. It can change what you bring to closing. How much down payment you need.
Upkeep and utilities. A house needs repairs, and older Seattle houses need more of them.
Loan limits. In King, Snohomish and Pierce counties, a 2026 loan above $1,063,750 is a jumbo loan, with its own rates and rules. The FHA limit is the same, $1,063,750.
Sources
Getting the real number#
Apply with a lender and you get a Loan Estimate within three business days. It shows the rate, the payment and the cash to close on one standard form, so two lenders can be compared line by line.
I am a real estate broker, not a lender. I can introduce you to lenders, and the choice is yours. Pre-approval or pre-qualification: which one a seller takes seriously.
Sources
- 12 CFR 1026.19(e), the Loan Estimate, Consumer Financial Protection Bureau
Common questions#
What is the property tax rate in Seattle?
For 2026, the main Seattle levy rate is $9.91 per $1,000 of assessed value, according to the King County Assessor. On a home assessed at $850,000 that is about $8,422 a year. A small part of Seattle in the Highline School District pays a higher rate.
How much is the monthly payment on an $850,000 home in Seattle?
About $5,476 a month with 20% down, at 7.32% on a 30-year loan, with Seattle's 2026 property tax and average insurance. With 3.5% down on an FHA loan it is about $7,050.
When does PMI go away?
You can ask your lender to cancel it once your balance reaches 80% of the home's original value. It ends on its own at 78%, as long as your payments are current.
Does FHA mortgage insurance ever end?
With 10% or more down, the annual premium ends after 11 years. With less than 10% down, it lasts the life of the loan unless you refinance.
Is the rate in the calculator the rate I will get?
No. It is Freddie Mac's national weekly average for borrowers with good credit and 20% down. Your rate depends on your credit, your down payment, the loan type and the day you lock it.
Related guides
- What buying in Seattle actually costs: the Seattle buyer's guide
- Pre-qualified, pre-approved or fully underwritten: which one a Seattle offer needs
- Closing costs in Washington: who pays what, and how much it comes to
- How much down payment do you actually need in Seattle?
