Select your Scenario
3.5% Down (minimum)
5.934%30-year fixed
10% Down
5.934%30-year fixed · shorter MIP
15-Year FHA
5.934%Faster payoff
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FHA Loan Details for ZIP Code 98280
2025 HUD guidelines · Computed from local median home value
- • Minimum credit score: 580 for 3.5% down · 500–579 requires 10% down
- • Debt-to-income ratio: typically up to 57% with compensating factors
- • UFMIP can be financed into the loan — no cash required at closing for this fee
- • Annual MIP rate shown is 0.55% for a 30-yr loan with LTV >90%. Rate varies by term and LTV.
Frequently Asked Questions
What are current fha rates today in 98280, , WA?
Today's leading benchmark rate for fha rates in 98280, , WA is 6.791% (with an estimated monthly payment of $4,478). Calibrated directly to 98280, , WA's local housing market, Safe Rate shows up-to-the-minute interest rates and points across Conventional, FHA, VA, and Jumbo loan programs daily.
What is the recent trend for fha rates in 98280, , WA?
Mortgage rates for fha rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, rates for fha rates in 98280, , WA have hovered between a low of 6.410% and a high of 6.868%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 98280, , WA?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $1,016,238 in 98280, , WA, a standard 20%-down Conventional loan requires an upfront cash down payment of $203,248 but keeps your monthly payment lower at $4,478/mo (at 6.791% interest) with no monthly PMI. In comparison, an FHA loan requires only $35,568 (3.5% down) but has an estimated payment of $4,124/mo (at 5.934% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $980,670 falls comfortably within the local HUD FHA loan limit of $1,168,674 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 98280 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 98280 is $806,501. With a typical local home value of $1,016,238 in , a standard 20%-down mortgage requires a loan size of $812,990. Since this exceeds the conforming limit of $806,501, most typical transactions in require a non-conforming Jumbo loan, which demands stricter underwriting guidelines, higher credit scores, and larger asset reserves.
How does the median home value in 98280, , WA impact estimated mortgage payments?
The median home value in 98280, , WA is estimated at $1,016,238. Buying a typical home here with a standard 20% down payment ($203,248) translates to an estimated starting monthly mortgage payment of $4,478 (principal and interest). Compared to the local area median household income of $83,119 ($6,927/mo), this basic housing payment represents approximately 64.7% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.