Seattle Mortgage Calculator: Your Full Monthly Payment, Not Just the Loan
Most online calculators stop at principal and interest. In Seattle, property tax, insurance, mortgage insurance and HOA dues can add a thousand dollars or more a month. This calculator builds the whole payment for King, Snohomish and Pierce County homes, with FHA, VA and conventional rules built in. Enter the rate from your own quote and see the real number.
A Seattle mortgage payment has five parts. Principal and interest depend on your rate; the rest depend on the home and the loan type.
MI is mortgage insurance: PMI, FHA MIP, or none for VA.
Seattle Payment Factors at a Glance
Seattle mortgage payment calculator
The defaults show a home at the August 2026 King County median price of $845,000 with 10% down. Change any number and the payment updates instantly. Enter the interest rate from your own Loan Estimate or rate quote to add principal and interest.
Enter the interest rate from your own Loan Estimate or rate quote to add principal and interest.
Estimates only, for illustration. Use the rate from your own quote; this calculator does not quote rates and the result is not a payment promise. Property tax uses a 0.91% planning estimate unless you change it; your actual tax depends on the assessed value and taxing districts. Insurance is an example, so replace it with your own quote. PMI pricing varies by credit and down payment. FHA mortgage insurance and VA funding fees follow 2026 HUD and VA rules, are financed into the loan here, and the FHA monthly premium is estimated on the starting balance. Cash to close adds a 2% to 4% planning range for closing costs and prepaids. All loans are subject to credit approval and a full loan estimate.
Why the rate you enter changes from day to day
This calculator leaves the rate blank on purpose, because Seattle mortgage rates move every business day. In this short October 7, 2026 market update, I show the bond market chart that mortgage rates come from and what pushes them higher or lower. Use the rate from your own quote, and ask me for today’s pricing on your loan.
Recorded October 7, 2026. Market education, not a rate quote or an offer of credit.
What is included in a Seattle mortgage payment?
I have spent more than 25 years closing loans around Puget Sound, and the most common surprise I see is a buyer who budgeted for principal and interest and forgot everything else. Here are the five parts and what drives each one:
- Principal and interest. The loan payment itself. It depends on the loan amount, the term, and the rate you lock. This is the only part a rate changes.
- Property tax. Collected monthly into an escrow account and paid to the county twice a year. On a Seattle-area home this is often the second-largest line.
- Homeowners insurance. Also usually paid through escrow. Condo buyers carry a smaller HO-6 policy because the building has its own master policy.
- Mortgage insurance. PMI on conventional loans with less than 20% down, MIP on FHA loans, and none on VA loans.
- HOA dues. Paid directly to the association, but lenders count them in your payment when you qualify. Common for condos in Capitol Hill, Belltown and South Lake Union, and for many newer townhomes.
When a lender decides how much home you qualify for, it uses this full payment, not just principal and interest. That is why getting the other four lines right matters as much as the rate.
Property taxes in Seattle, King, Snohomish and Pierce counties
For planning, I estimate property tax at about 0.91% of the purchase price per year. That is close to what I see on purchase files across King, Snohomish and Pierce counties. As an illustrative example, a home at the $845,000 King County median would carry about $7,690 a year, or about $641 a month in escrow.
Treat that as a starting point, not the bill. Washington sets a levy rate for each combination of taxing districts, so two homes a few blocks apart can have different rates, and the tax is based on the county’s assessed value rather than your price. King County notes that total 2026 property taxes rose about 10% countywide, driven mostly by voter-approved measures (King County Assessor). Before you write an offer, look up the current bill for that parcel with the King, Snohomish or Pierce County assessor and put it into the calculator. My guide to Snohomish County property taxes walks through how the bill is built.
This is general information, not tax advice. Talk with a tax professional about exemptions or deductions that may apply to you.
Mortgage insurance by loan type in Seattle
Mortgage insurance is the line that changes most between loan types, so it is worth seeing side by side:
| Conventional | FHA | VA | |
|---|---|---|---|
| Upfront | None | 1.75% of the loan, usually financed | Funding fee: 2.15% first use with under 5% down (1.5% with 5%+, 1.25% with 10%+); 3.3% subsequent use with under 5% down |
| Monthly | PMI, roughly $30 to $70 per $100K borrowed | 0.55% a year on most 30-year loans of $726,200 or less (0.50% with 5%+ down); 0.75% (0.70%) above that | None |
| When it ends | Request at 20% equity; automatic at 78% of original value | Life of loan with under 10% down; 11 years with 10%+ | Not applicable |
| Exemptions | None (avoided with 20% down) | None | Veterans receiving VA disability compensation are generally exempt from the funding fee |
Sources: Freddie Mac on PMI, HUD Mortgagee Letter 2023-05 (FHA annual MIP), and VA.gov funding fee and closing costs. Program rules are subject to change and to credit approval.
For more detail, see my guides to conventional loans, FHA loans and VA loans.
Seattle loan limits that change your loan type
Your loan amount decides which rules apply, so the calculator labels it for you:
- $832,750 or less: a standard conforming loan. This is the national baseline, not a local limit. Conventional loans can go as low as 3% down for qualified buyers in this range.
- $832,751 to $1,063,750: a high-balance conforming loan, available because King, Snohomish and Pierce counties are high-cost areas. Conventional minimum is typically 5% down.
- Above $1,063,750: a jumbo loan, with its own down payment, reserve and pricing rules. See my guide to jumbo home loans in Washington.
The 2026 FHA limit for a single-family home in King and Snohomish counties is also $1,063,750. VA loans have no loan limit for borrowers with full entitlement.
How to lower your Seattle mortgage payment
- Reach 20% down to drop PMI. On a conventional loan, 20% down removes mortgage insurance entirely. If that ties up too much cash, compare the PMI cost against what the extra cash does for you.
- Check the property tax before you offer. Rates differ by city and taxing district, so similar homes can carry different tax bills. Use the actual bill for the parcel, not an average.
- Watch HOA dues on condos. A low price with high dues can cost more each month than a pricier home with none, and lenders count the dues when you qualify.
- Consider buying the rate down. Discount points lower principal and interest for the life of the loan. My guide to buying a mortgage rate down in Seattle shows how to run the break-even.
- Plan your exit from mortgage insurance. FHA borrowers with growing equity can often refinance into a conventional loan later to remove MIP, subject to qualifying at that time.
I built this calculator the way I build payments for my own clients: start with the whole payment, then decide what you are comfortable with. The rate gets all the attention, but in this market property tax, mortgage insurance and HOA dues often move the payment just as much. Run a few versions here, then send me the address. I will pull the actual tax bill, price the mortgage insurance for your credit, and put a real Loan Estimate next to this number before you write an offer.
Get Your Rate Quote
Answer a few quick questions and I will send real numbers for your situation, not a generic rate table.
Got it, thank you.
I review every request personally and will reach out soon with your numbers.
Want to talk sooner? Call or text (206) 601-3426.
Seattle mortgage payment questions
What is included in a mortgage payment in Seattle?
A full Seattle mortgage payment usually has five parts: principal and interest, property tax, homeowners insurance, mortgage insurance if your loan requires it, and HOA dues for condos and many townhomes. Most lenders collect the property tax and insurance monthly in an escrow account, so they are part of the payment you make each month.
How much are property taxes on a Seattle home?
For planning, I estimate property tax at about 0.91% of the purchase price per year, which is close to what I see on files across King, Snohomish and Pierce counties. As an illustration, a home at the August 2026 King County median of $845,000 would owe about $7,690 a year, or about $641 a month in escrow. The exact amount depends on the assessed value and the taxing districts for that parcel, so check the county assessor for the address you are buying.
How much does PMI cost in Seattle?
Freddie Mac estimates private mortgage insurance at roughly $30 to $70 a month for every $100,000 borrowed, depending mostly on your credit score and down payment. It applies to conventional loans with less than 20% down. You can ask to cancel it once you reach 20% equity, and it ends automatically when your balance is scheduled to reach 78% of the original value.
Does an FHA loan have mortgage insurance?
Yes. FHA loans have an upfront mortgage insurance premium of 1.75% of the loan amount, usually financed into the loan, plus an annual premium paid monthly. For most 30-year FHA loans of $726,200 or less, the annual premium is 0.55% with less than 5% down, and 0.75% on larger loans. With less than 10% down it lasts for the life of the loan.
Do VA loans have mortgage insurance?
No. VA loans have no monthly mortgage insurance, which is one reason their payments are often lower. Instead there is a one-time funding fee, 2.15% of the loan for first-time use with less than 5% down, that can be financed. Veterans who receive VA disability compensation are generally exempt from the funding fee.
How accurate is an online mortgage calculator?
A calculator is a planning estimate. The biggest gaps are usually the property tax on the specific parcel, your actual insurance quote, and mortgage insurance pricing for your credit profile. Your Loan Estimate, which a lender must provide within three business days of your application, is the accurate version for your loan.
Want the real number for a specific home?
Send Keith the address and get the actual tax bill, mortgage insurance pricing and a Loan Estimate before you offer. Or call (206) 601-3426 or email keith@mortgagereel.com.
Calculator results, examples and figures on this page are estimates for illustration only. They are not a quote, an offer of credit, a payment promise or a guarantee of terms. Interest rates are entered by the user and are not provided or recommended here. Property tax, insurance, mortgage insurance and HOA amounts vary by property and borrower. Loan limits, mortgage insurance premiums and funding fees reflect 2026 FHFA, HUD and VA figures and are subject to change. Tax information is general, not tax advice. 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. This is not a commitment to lend. All loans subject to credit approval. Equal Housing Opportunity.