A 50% down payment is not a standard requirement for buying a home in the Seattle area. If a buyer says they needed “half down,” they may mean that the money brought together for closing consumed a large share of their savings—not that half the purchase price became a down payment. The distinction matters: cash to close combines the down payment with closing costs and other transaction items, then accounts for deposits, credits and adjustments.
What does “cash to close” include?
The Loan Estimate and final Closing Disclosure break down the amounts for a particular mortgage transaction. Cash to close is not another name for the down payment: it generally includes the down payment and closing costs, minus money already paid and applicable seller credits or other adjustments.
Closing costs can include lender charges and points, appraisal and title services, government fees, prepaid interest, homeowners insurance premiums, and initial escrow deposits for taxes and insurance. Some expenses, such as a home inspection, may be paid separately rather than appearing among the loan’s required closing costs. The exact mix depends on the transaction.
Not every dollar due at closing is a fee that disappears. A down payment contributes to the buyer’s equity; prepaid items and escrow deposits cover future or time-apportioned bills. Property taxes and homeowners insurance remain costs of owning the home whether paid through an escrow account or directly.
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How much are closing costs in Seattle?
The Consumer Financial Protection Bureau says closing costs, excluding the down payment, typically range from 2% to 5% of the purchase price. That is a broad national rule of thumb, not a Seattle-area quote or a prediction for an individual purchase. Costs vary with the home price, down payment, lender costs, loan type and location. See the CFPB’s closing guidance and use the Loan Estimate for the costs attached to a specific offer.
Washington’s real estate excise tax (REET) is another location-specific factor. The state tax is graduated, and local REET is added to the state portion. The Washington Department of Revenue’s REET guidance includes thresholds that take effect January 1, 2027; do not apply those future thresholds to a transaction closing in 2026. REET is due to the county treasurer on the date of sale, subject to the department’s rules. The transaction documents and closing professionals can clarify the applicable amount and how a charge is allocated; do not assume the buyer personally bears every tax charge.
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Property tax is a separate issue from REET. King County reported $8.4 billion in total property taxes for tax year 2026, up about $770 million, or 10%, from $7.7 billion in 2025. That countywide total is not an estimate of an individual buyer’s bill and does not mean a buyer owes 10% more at closing.
Do you need 20% down?
No single down-payment percentage applies to every buyer or loan. The CFPB says that in most cases at least 3% down is needed, while many loan types and lenders require 5% or more. Actual minimums depend on the loan and lender, and a buyer must qualify for the option they choose.
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A down payment below 20% typically means mortgage insurance is required, although the details depend on the loan. A larger down payment can reduce borrowing costs, but it also leaves less savings available for closing expenses, moving, repairs and emergencies. Compare the full cost of each loan option rather than treating 20% as a universal threshold.
How to work out a safe amount to bring
Set the down payment only after accounting for the rest of the household budget. The CFPB recommends adding up available savings, subtracting other savings goals and expected moving or renovation costs, and preserving an emergency cushion. It describes three to six months of expenses as a rule of thumb for that cushion. Then estimate closing costs and determine what remains for a down payment.
- Review the Loan Estimate. Ask the lender to walk through the estimated down payment, loan charges, third-party services, prepaids, escrow deposits and cash-to-close calculation.
- Compare offers on equal terms. Keep purchase price, down payment, loan type and rate-lock period consistent. Compare lender charges, points, lender credits and their rate implications, third-party services, estimated cash to close, monthly payment including taxes and insurance, and mortgage insurance where applicable.
- Check the final Closing Disclosure. Compare its final terms and Cash to Close amount with the earlier estimate. If the figures changed materially, ask the lender or closing professional to explain the change and verify deposits, credits and adjustments.
- Budget for the monthly cost, too. Include principal and interest, property taxes, homeowners insurance, mortgage insurance, any supplementary insurance and HOA dues. Taxes and insurance still belong in the affordability calculation when paid outside escrow.
The CFPB explains that estimated cash to close includes the down payment and closing costs, less money already paid; it is usually paid by cashier’s check or wire transfer. Follow the payment instructions from the closing professional and verify them directly before sending funds.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Could Washington assistance help?
Washington State Department of Commerce describes down-payment assistance for eligible first-time, low-income homebuyers to cover down payment and/or closing costs. Its capital program resources are available to buyers at or below area median income, adjusted for household size, in the county where the home is located. Program criteria, funding and availability matter, so confirm current details directly with the state homeownership program.
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Seattle Office of Housing policies set minimum buyer contributions and other conditions for particular supported programs; those terms are not rules for every Seattle-area purchase. Seattle’s homebuyer guidance points buyers using assistance toward education and counseling and advises confirming requirements with the participating organization.
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