Best Washington Mortgage Lenders of 2023

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The 30-year fixed mortgage rate reached a new peak of 7.39% this week, eclipsing the previous record of 7.33% set last November. Most fixed and adjustable mortgage rates continued to march higher on the heels of recent employment and inflation reports, which highlight resilient U.S. economic conditions.


Mortgage interest rates are widely expected to fall through 2023 but have remained elevated during the first half of the year. Here are the current mortgage rates, without discount points unless otherwise noted, as of July 13:

  • 30-year fixed: 7.39% (up from 7.26% a week ago).
  • 20-year fixed: 7.44% (up from 7.32% a week ago).
  • 15-year fixed: 6.68% (up from 6.61% a week ago).
  • 10-year fixed: 6.73% (down from 6.79% a week ago).
  • 5/1 ARM: 6.23% (up from 6.12% a week ago).
  • 7/1 ARM: 6.46% (up from 6.25% a week ago).
  • 10/1 ARM: 6.61% (up from 6.5% a week ago).
  • 30-year jumbo loans: 7.43% (up from 7.31% a week ago).
  • 30-year FHA loans: 6.61% with 0.05 point (up from 6.51% a week ago).
  • VA purchase loans: 6.78% with 0.05 point (up from 6.69% a week ago).


The Washington State Housing Finance Commission provides several down payment assistance programs to make purchasing a home in the state more affordable.

  • Available to: Eligible Washington homebuyers with a WSHFC Home Advantage first mortgage loan.
  • Income limit: $160,000.
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: This second mortgage has a 0% interest rate. Payment is due when the home is sold, the loan is refinanced or after 30 years. Eligible homebuyers can borrow up to 4% of the total loan amount or up to 5% using the state’s Home Advantage conventional or FHA loans.

  • Available to: Eligible Washington homebuyers with a WSHFC Home Advantage first mortgage loan.
  • Income limits: $115,700 in King and Snohomish counties and $91,600 in all other counties.
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: This second mortgage of up to $10,000 has a 1% interest rate. Payment is due when the home is sold, the loan is refinanced or after 30 years. Eligibility is based on need, but veterans are not required to show evidence of financial need to qualify.

  • Available to: Eligible Washington homebuyers with a WSHFC Opportunity first mortgage loan.
  • Income limits: Varies by county.
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: This second mortgage of up to $15,000 has a 1% interest rate. Payment is due when the home is sold, the loan is refinanced or after 30 years. Eligibility is based on need, but veterans are not required to show evidence of financial need to qualify.

  • Available to: Eligible Washington veterans and their dependents with a WSHFC Home Advantage or House Key first mortgage loan.
  • Income limits: $115,700 in King and Snohomish counties and $91,600 in all other counties.
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: This second mortgage of up to $10,000 has a 3% interest rate. Payment is due when the home is sold, the loan is refinanced or after 30 years.

  • Available to: Eligible Washington homebuyers with a disability or who have a family member with a disability living with them and have a WSHFC Home Advantage or House Key first mortgage loan.
  • Income limits: $115,700 in King and Snohomish counties and $91,600 in all other counties.
  • First-time homebuyers only? No.
  • Down payment and closing cost assistance: This second mortgage of up to $15,000 has a 1% interest rate. Payment is due when the home is sold, the loan is refinanced or after 30 years.

U.S. News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.

To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.

The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.

To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.

To recap, here are the picks:

Best Washington Mortgage Lenders of 2023

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