Des Moines WA Mortgage Guide
Waterfront living at an accessible price point — Des Moines offers Puget Sound access, marina amenities, and a verified median home price around $530K. One of King County’s best FHA and VA entry markets. Explore real loan structures and mortgage strategies from buyers and homeowners Keith has assisted in Des Moines.
Market Snapshot — Des Moines, WA
What buyers need to know about Des Moines WA mortgages
Des Moines is one of the most underrated waterfront communities in King County — a small city of about 34,000 residents sitting on Puget Sound between SeaTac and Federal Way. The city has its own marina, public beach, and waterfront park, with home prices that remain significantly more accessible than comparable waterfront communities to the north. With a verified median home price around $530K and an average of 52 days on market, Des Moines offers buyers more time and more negotiating leverage than most Seattle-area cities.
FHA loans are particularly well-suited to Des Moines — with 3.5% down and King County’s FHA loan limits well above the median price, first-time buyers can access genuine waterfront-adjacent ownership at a fraction of what similar access costs elsewhere. VA loans are also strong here given the proximity to military installations. For buyers with larger down payments, conventional financing offers flexibility and long-term cost advantages.
Des Moines is also gaining attention from investors and buyers looking for short-term rental potential — the combination of waterfront access, airport proximity, and accessible price points makes it an increasingly attractive market for those building long-term real estate portfolios.
FHA — 3.5% Down
Des Moines is one of King County’s best FHA markets. At a ~$530K median, FHA with 3.5% down opens genuine waterfront-adjacent ownership for first-time buyers.
VA Loan — $0 Down
Zero down for eligible veterans. Des Moines proximity to SeaTac and military installations makes it an active VA market. No monthly mortgage insurance required.
Conventional 5–20% Down
Strong option for buyers with solid credit profiles. Conventional loans offer lower long-term costs than FHA for qualified buyers in Des Moines’ price range.
Cash-Out Refinance
Des Moines homeowners have built equity through steady appreciation. Cash-out refinancing for renovations or investment property down payments is increasingly popular.
Des Moines WA mortgage questions
What is the median home price in Des Moines WA in 2026?
As of February 2026, the median home price in Des Moines, WA is approximately $530,000, according to Redfin. This makes Des Moines one of the most accessible waterfront communities in King County, with FHA and conventional loans well-suited to the price range.
What mortgage loan types are most common in Des Moines WA?
FHA loans with 3.5% down and conventional loans with 5–10% down are the most common in Des Moines. VA loans are also active given the proximity to SeaTac and military installations. With a median price around $530K, Des Moines is one of the few King County markets where FHA financing is genuinely accessible for most properties.
Is Des Moines WA a good place to buy a home?
Des Moines offers a rare combination — Puget Sound waterfront access, marina and beach amenities, and home prices significantly below the King County median. With a verified median around $530K and proximity to SeaTac, downtown Seattle, and the Eastside, Des Moines is one of the best long-term value plays for buyers who want waterfront lifestyle without waterfront pricing.
Can I use an FHA loan to buy a home in Des Moines WA?
Yes — Des Moines is one of the best FHA markets in King County. With a median price around $530K and King County’s FHA loan limit well above that, buyers can use 3.5% down to purchase most properties in Des Moines. This makes it an especially powerful option for first-time buyers who want waterfront-adjacent living at an accessible entry point.
Buying or refinancing in Des Moines?
Keith can walk you through FHA, VA, and conventional options built around your goals — no pressure, just clarity.
Mortgage Reel is powered by Fairway Independent Mortgage Corporation. NMLS #2289. Keith Akada, Loan Officer. NMLS #112443. Washington State Consumer Loan Company License MLO-112443. Price ranges are approximate and based on recent sales data from Redfin and NWMLS as of early 2026. This is not a commitment to lend. All loans subject to credit approval. Equal Housing Opportunity.