A conventional loan follows Fannie Mae or Freddie Mac guidelines. First-time buyers and income-eligible buyers can put as little as 3% down. The 2026 conforming limit for a one-unit home in Washington is $832,750, or $1,063,750 in King, Pierce and Snohomish counties. Private mortgage insurance can be removed once you reach enough equity.
Conventional at a glance
- 3% down when at least one borrower is a first-time buyer, or through HomeReady (Fannie Mae) and Home Possible (Freddie Mac), which have income limits.
- 5% down for 2–4 unit primary residences.
- PMI removal: request cancellation at 80% of original value; it ends automatically at 78% if you're current.
- Second homes and investment properties are eligible, with higher down payments.
2026 conforming limits
| Area | 1 unit | 2 units | 3 units | 4 units |
|---|---|---|---|---|
| King, Pierce, Snohomish | $1,063,750 | $1,361,800 | $1,646,100 | $2,045,700 |
| All other WA counties | $832,750 | See the full table | ||
Common questions
What is the 2026 conforming loan limit in Washington?
$832,750 for a one-unit home in most counties, and $1,063,750 in King, Pierce and Snohomish counties.
Can I get a conventional loan with 3% down if I've owned before?
Yes, if you haven't owned a home in the past three years you count as a first-time buyer. Otherwise, HomeReady or Home Possible can allow 3% down if your income is within their limits.