Can I Afford a $100K Home in Washington?
Complete mortgage breakdown for a $100,000 home in Washington, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$704/mo
P&I: $526 + Tax: $70 + Insurance: $108
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $856 | $36,684 |
| 5% | $5,000 | $842 | $36,086 |
| 10% | $10,000 | $807 | $34,589 |
| 20% | $20,000 | $704 | $30,166 |
Monthly Cost Breakdown (Washington)
Principal & Interest
$526/mo
Property Tax (0.84%)
$70/mo
Homeowners Insurance
$108/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$30,166/yr
Minimum gross income
36% Rule (All Debt)
$23,463/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in Washington
A $100,000 home in Washington is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $704 is achievable on a salary of $30,166 or more. Washington's property tax rate of 0.84% is near the national average.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Washington.