Spokane Valley, WA Mortgage Rates Today for November 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current Spokane Valley, Washington mortgage rates today start at 6.375% for a 30 year fixed and 5.875% for a 15 year fixed, compared with Washington averages of 7.203% and 6.689%. Spokane Valley, Washington mortgage rates range from 5.50% to 10.25%, verified by MonitorBankRates as of November 12, 2026. Current 30-year fixed mortgage rates in Spokane Valley, Washington include BECU Boeing Employees Credit UnionBECU Boeing Employees Credit Union12111 E Mission Ave, Spokane Valley, WA, 99037A+5.0 ★Texas Ratio: 2.16%Rate verified Nov 8, 2026 at 6.76%, Numerica Credit UnionNumerica Credit Union10618 E Sprague Ave, Spokane Valley, WA, 99037A+5.0 ★Texas Ratio: 2.22%Rate verified Nov 8, 2026 at 7.00%, HAPO Community Credit UnionHAPO Community Credit UnionA+5.0 ★Texas Ratio: 1.09%Rate verified Nov 9, 2026 at 6.375%, First Fed BankFirst Fed BankA5.0 ★Texas Ratio: 12.33%Rate verified Nov 11, 2026 at 6.625%, and Whatcom Educational Credit UnionWhatcom Educational Credit UnionA+5.0 ★Texas Ratio: 4.66%Rate verified Nov 8, 2026 at 6.625%. Mortgage rates as of November 12, 2026 according to verified data from MonitorBankRates.
Spokane Valley borrowers can compare 151 mortgage rates from 21 lenders serving the Washington area, including 5 local, with rates as low as 6.00% from Governmental Employees Credit Union at 1811 N Hutchinson Rd, Spokane Valley, WA, 99212 2444. Use the tabs below to compare all available loan types and terms. Rates are continually updated, so we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to Washington borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: November 12, 2026
Compare Mortgage Rates Today in Spokane Valley, Washington & the Surrounding Area
Spokane Valley 30 Year Fixed Mortgage Rates
VA Purchase 0% Down; APR Effective 11/6/2026
- Nov 8, 20266.76%▼ from 7.02%
- Oct 29, 20267.02%▼ from 7.26%
- Oct 13, 20267.26%▲ from 6.79%
- Sep 18, 20266.79%first recorded
APR Effective 11/6/2026
- Nov 8, 20267.09%▼ from 7.22%
- Oct 29, 20267.22%▼ from 7.45%
- Oct 13, 20267.45%▲ from 7.18%
- Sep 18, 20267.18%first recorded
APR Effective 11/6/2026
- Nov 8, 20267.10%▼ from 7.23%
- Oct 29, 20267.23%▼ from 7.46%
- Oct 13, 20267.46%▲ from 7.19%
- Sep 22, 20267.19%first recorded
Rates accurate as of 11/06/2026
APR Effective 11/6/2026
- Nov 8, 20267.30%▼ from 7.55%
- Oct 29, 20267.55%▼ from 7.80%
- Oct 13, 20267.80%▲ from 7.32%
- Sep 18, 20267.32%▲ from 7.31%
Rates accurate as of 11/06/2026
12 month construction term; APR Effective 11/6/2026
- Nov 8, 20267.59%▼ from 7.71%
- Oct 29, 20267.71%▼ from 7.95%
- Oct 13, 20267.95%▲ from 7.70%
- Sep 22, 20267.70%▲ from 7.69%
Fixed 360 Months; Interest only payments during construction
- Nov 9, 20266.60%▼ from 6.72%
- Oct 26, 20266.72%▼ from 6.97%
- Oct 19, 20266.97%first recorded
Rates effective 11/05/2026; primary residence in single family home with 0% equity and borrower credit score of 780; Ex: Loan Amount $500,000.00; Ex:
Example loan $300,000; effective 11/6/2026; owner occupied 1-4 unit purchase or refinance; APR includes 1% lender fee
- Nov 8, 20266.77%▼ from 7.04%
- Oct 19, 20267.04%first recorded
Payment: $2,675; Based on $412,500 loan amount; assumes excellent credit (780+) and 25% down; Rates Effective 11/9/2026
- Nov 12, 20266.84%▼ from 7.54%
- Oct 8, 20267.54%▲ from 6.72%
- Sep 14, 20266.72%first recorded
Fixed 360 Months
- Nov 9, 20266.88%▼ from 7.00%
- Oct 26, 20267.00%▼ from 7.25%
- Oct 19, 20267.25%first recorded
Rates listed are for primary residence in single family home with 10% equity and borrower credit score of 780; Effective 11/05/2026; Example loan amount $459,675.00; Example
- Nov 11, 20266.90%▼ from 7.29%
- Oct 7, 20267.29%first recorded
As Low As; 30-year fixed APR advertised as low as 6.960% on today's rates
- Nov 8, 20266.96%▼ from 7.00%
- Sep 22, 20267.00%first recorded
1-month payment: $2,709.83; no cash-out refinance; APR based on LTV 75%, loan amount $412,500.00, Multnomah County, OR
- Nov 8, 20266.97%▼ from 7.10%
- Nov 3, 20267.10%▼ from 7.11%
- Oct 29, 20267.11%▼ from 7.23%
- Oct 19, 20267.23%▼ from 7.35%
Spokane Valley 15 Year Fixed Mortgage Rates
As Low As; 15 year fixed rate
As Low As; Rates assume $180,000 loan amount, 1% origination and document fee, 80% LTV; includes 1/4% autopay discount and 1/4% additional services discount
- Nov 7, 20266.20%▼ from 7.25%
- Oct 13, 20267.25%▲ from 6.20%
- Sep 14, 20266.20%first recorded
APR Effective 11/6/2026
- Nov 8, 20266.43%▼ from 6.64%
- Oct 29, 20266.64%▼ from 6.85%
- Oct 13, 20266.85%▲ from 6.57%
- Sep 22, 20266.57%first recorded
Loan limits up to $3 million; APR Effective 11/6/2026
- Nov 8, 20266.43%▼ from 6.65%
- Oct 29, 20266.65%▼ from 6.85%
- Oct 13, 20266.85%first recorded
Rates accurate as of 11/06/2026
Example loan $300,000; effective 11/6/2026; owner occupied 1-4 unit purchase or refinance; APR includes 1% lender fee
- Nov 8, 20266.20%▼ from 6.45%
- Oct 19, 20266.45%first recorded
Fixed 180 Months; Interest only payments during construction
- Nov 9, 20266.22%▼ from 6.34%
- Oct 26, 20266.34%▼ from 6.59%
- Oct 19, 20266.59%first recorded
Sample; loan amount $320,000, 70% LTV, origination fee $800
- Nov 8, 20266.37%▼ from 6.64%
- Oct 29, 20266.64%first recorded
Payment: $3,537; Based on $412,500 loan amount; assumes excellent credit (780+) and 25% down; Rates Effective 11/9/2026
- Nov 12, 20266.40%▼ from 6.90%
- Oct 8, 20266.90%▲ from 6.27%
- Sep 14, 20266.27%first recorded
1-month payment: $3,536.87; no cash-out refinance; APR based on LTV 75%, loan amount $412,500.00, Multnomah County, OR
- Nov 8, 20266.40%▼ from 6.53%
- Oct 29, 20266.53%▼ from 6.68%
- Oct 19, 20266.68%▼ from 6.82%
- Oct 13, 20266.82%first recorded
Fixed 180 Months
- Nov 9, 20266.42%▼ from 6.66%
- Nov 5, 20266.66%▼ from 6.79%
- Oct 26, 20266.79%▼ from 7.42%
- Oct 19, 20267.42%first recorded
Example Loan: $300,000; Effective 11/6/2026; Owner occupied single-family refinance, 75% LTV, credit score 780
- Nov 3, 20266.58%▼ from 6.73%
- Oct 26, 20266.73%▼ from 6.84%
- Oct 19, 20266.84%first recorded
Example Loan: $300,000; Effective: 11/6/2026; owner occupied, 25% down, credit score 780
Conforming purchase loan; primary residence, single family home, 25% down payment, borrower credit score 780; Interest Rates Effective 11/05/2026; example loan amount $450,000.00, example
- Nov 11, 20266.62%▼ from 7.00%
- Oct 2, 20267.00%▲ from 6.50%
- Sep 15, 20266.50%first recorded
Rates effective 11/12/2026; Rates are based on purchase of a primary residence
- Nov 12, 20266.62%▲ from 6.61%
- Nov 7, 20266.61%▼ from 6.94%
- Oct 12, 20266.94%first recorded
Spokane Valley 5/1 ARM Mortgage Rates
Adjusts every 6 months, after initial five-year period; APR Effective 11/6/2026
- Nov 8, 20266.62%▼ from 6.80%
- Oct 9, 20266.80%▲ from 6.73%
- Oct 2, 20266.73%▼ from 6.83%
- Sep 29, 20266.83%first recorded
Max. LTV: 95%; Loan Fee: 0.500%; P&I Payment Based On $100,000: ($591.54); Maximum Loan Amount: $850,000
- Oct 19, 20266.00%▼ from 7.51%
- Oct 14, 20267.51%first recorded
Home Mortgage Lending Rates; first column APR as low as 5.750%, second column APR as low as 6.000%
- Nov 5, 20266.00%▲ from 5.69%
- Oct 14, 20265.69%first recorded
Max. LTV: 100%; Loan Fee: 0.750%; P&I Payment Based On $100,000: ($591.54); Maximum Loan Amount $806,500 (except Snohomish/King/Pierce County $1,037,300)
- Oct 19, 20266.02%▼ from 7.54%
- Oct 14, 20267.54%▲ from 6.02%
- Oct 6, 20266.02%first recorded
Competitive introductory rate
NY ONLY - APR* as low as (0 pts.); Type: 5/1/30 hybrid ARM
- Nov 7, 20266.75%▼ from 7.00%
- Oct 23, 20267.00%▼ from 7.13%
- Oct 12, 20267.13%first recorded
Jumbo mortgage; New York only; 65% LTV; credit score 740; 15 days prepaid interest; 60-day lock period
- Nov 11, 20266.76%▲ from 6.71%
- Nov 5, 20266.71%▲ from 6.69%
- Oct 31, 20266.69%▼ from 6.79%
- Oct 20, 20266.79%▼ from 6.83%
Sample; loan amount $320,000, 70% LTV, origination fee $800
APR* as low as (0 pts.); Type: 5/1/30 hybrid ARM
- Nov 7, 20266.88%▼ from 7.00%
- Oct 23, 20267.00%▼ from 7.13%
- Oct 12, 20267.13%first recorded
Non-Owner Occupied; 5/1 ARM; Max. LTV 85%; Loan Fee 2.000%; Maximum Adjustable Rate Loan Amount $850,000; Mortgage Program rates effective as of: 02/10/2026
- Oct 19, 20266.90%▼ from 8.44%
- Oct 14, 20268.44%first recorded
Adjustable-Rate Home Loans; Payment example: $640.31
- Nov 5, 20266.95%▼ from 7.00%
- Oct 26, 20267.00%first recorded
Conventional Owner Occupied; Max. LTV: 95%; Loan Fee: 0.500%
- Nov 9, 20267.01%▼ from 7.13%
- Nov 3, 20267.13%▼ from 7.39%
- Oct 30, 20267.39%▲ from 6.00%
- Oct 19, 20266.00%▼ from 7.39%
Max. LTV: 95%; Loan Fee: 0.500%
- Nov 9, 20267.01%▼ from 7.13%
- Nov 3, 20267.13%▼ from 7.39%
- Oct 19, 20267.39%▼ from 7.51%
- Oct 14, 20267.51%first recorded
Max. LTV: 100%; Loan Fee: 0.750%; Max Loan Amount: $832,650 (Snohomish/King/Pierce County: $1,063,750); Primary Residence Purchase
- Nov 9, 20267.03%▼ from 7.16%
- Nov 3, 20267.16%▼ from 7.41%
- Oct 19, 20267.41%▼ from 7.54%
- Oct 14, 20267.54%first recorded
Max. LTV: 100%; Loan Fee: 0.750%; P&I Payment Based On $100,000: ($656.93); Maximum Loan Amount $832,650 (Snohomish/King/Pierce County $1,063,750)
- Nov 9, 20267.03%▼ from 7.16%
- Nov 3, 20267.16%▼ from 7.41%
- Oct 19, 20267.41%▼ from 7.54%
- Oct 14, 20267.54%▲ from 6.02%
Spokane Valley 30-Year Jumbo Mortgage Rates
APR Effective 11/6/2026
- Nov 8, 20266.66%▼ from 7.09%
- Oct 13, 20267.09%▲ from 6.85%
- Sep 18, 20266.85%first recorded
based on $940,000 loan, 25% down, 45-day lock; rates as of 11/10/2026
Refinance rate; 7-year fixed period, adjusts yearly; based on $940,000 loan amount and at least 25% equity
based on $940,000 loan, 25% down, 45-day lock; rates as of 11/10/2026
12 month construction term; APR Effective 11/6/2026
- Nov 8, 20267.20%▼ from 7.34%
- Oct 29, 20267.34%▼ from 7.66%
- Oct 13, 20267.66%first recorded
Refinance rate; 10-year fixed period, adjusts yearly; based on $940,000 loan amount and at least 25% equity
based on $940,000 loan, 25% down, 45-day lock; rates as of 11/10/2026
Refinance rate; based on $940,000 loan amount and at least 25% equity
based on $940,000 loan, 25% down, 45-day lock; rates as of 11/10/2026
Refinance rate; based on $940,000 loan amount and at least 25% equity
Rates accurate as of 11/06/2026
Example Loan: $900,000; Effective: 11/6/2026; owner occupied, 25% down, credit score 780
Example Loan: $900,000; Effective 11/6/2026; Owner occupied single-family refinance, 75% LTV, credit score 780
- Nov 8, 20266.17%▲ from 6.17%
- Nov 3, 20266.17%▼ from 6.22%
- Oct 26, 20266.22%▼ from 6.28%
- Oct 19, 20266.28%first recorded
As Low As
- Nov 11, 20266.50%▼ from 6.59%
- Nov 5, 20266.59%▼ from 6.71%
- Oct 31, 20266.71%▼ from 6.83%
- Oct 20, 20266.83%▼ from 6.87%
Jumbo Home Loans; Payment example: $6238.70
- Nov 9, 20266.65%▼ from 6.71%
- Nov 5, 20266.71%▼ from 6.78%
- Oct 30, 20266.78%▲ from 6.71%
- Oct 26, 20266.71%first recorded
Spokane Valley 15-Year Jumbo Mortgage Rates
based on $940,000 loan, 25% down, 45-day lock; rates as of 11/10/2026
Refinance rate; based on $940,000 loan amount and at least 25% equity
Example Loan: $900,000; Effective 11/6/2026; Owner occupied single-family refinance, 75% LTV, credit score 780
- Nov 3, 20266.58%▼ from 6.81%
- Oct 26, 20266.81%▼ from 6.83%
- Oct 19, 20266.83%first recorded
Example Loan: $900,000; Effective: 11/6/2026; owner occupied, 25% down, credit score 780
Conventional fixed mortgage; minimum 5% down payment; Rates as of Nov 10, 2026 ET
Example loan amount $900,000.00; example; primary residence in single family home of $1,200,000 with 25% down payment and borrower credit score of 780; Interest Rates Effective 11/05/2026
Example loan amount: $910,000.00 Includes $250,000 Cash Out; Example; Primary residence, single family home, 35% equity, credit score 780; Rates effective 11/05/2026
- Nov 11, 20267.23%▼ from 7.48%
- Oct 20, 20267.48%first recorded
Spokane Valley 5/1 Jumbo ARM Mortgage Rates
based on $940,000 loan, 25% down, 45-day lock; rates as of 11/10/2026
Refinance rate; 5-year fixed period, adjusts yearly; based on $940,000 loan amount and at least 25% equity
Home Mortgage Lending Rates; first column APR as low as 5.750%, second column APR as low as 5.950%
- Nov 5, 20265.95%▲ from 5.69%
- Oct 14, 20265.69%first recorded
As Low As
- Nov 11, 20266.45%▼ from 6.53%
- Nov 5, 20266.53%▼ from 6.65%
- Oct 31, 20266.65%▼ from 6.78%
- Oct 20, 20266.78%▼ from 6.83%
Jumbo Home Loans; Payment example: $6157.17
- Nov 9, 20266.66%▼ from 6.71%
- Nov 5, 20266.71%▼ from 6.76%
- Oct 30, 20266.76%▲ from 6.71%
- Oct 26, 20266.71%first recorded
Jumbo Home Loans; Payment example: $6238.70
- Nov 9, 20266.86%▼ from 6.91%
- Nov 5, 20266.91%▼ from 7.03%
- Oct 30, 20267.03%▼ from 7.05%
- Oct 26, 20267.05%first recorded
1-month payment: $5,470.58; no cash-out refinance; APR based on LTV 75%, loan amount $766,551, Multnomah County, OR; ARM rates subject to change
- Nov 8, 20267.49%▼ from 7.54%
- Oct 29, 20267.54%▼ from 7.59%
- Oct 19, 20267.59%▼ from 7.65%
- Oct 13, 20267.65%first recorded
Spokane Valley FHA Loan Rates
APR Effective 11/6/2026
- Nov 8, 20267.30%▼ from 7.55%
- Oct 29, 20267.55%▼ from 7.80%
- Oct 13, 20267.80%▲ from 7.32%
- Sep 18, 20267.32%▲ from 7.31%
based on $270,019 loan, 3.5% down, 45-day lock; rates as of 11/10/2026
Refinance rate; based on $270,019 loan amount and at least 3.5% equity
Fixed 180 Months
- Nov 9, 20267.24%▼ from 7.62%
- Nov 5, 20267.62%▼ from 8.24%
- Oct 19, 20268.24%first recorded
Rates effective 11/12/2026; FHA APR based on $400,000 loan with 3.5% down; Rates are based on purchase of a primary residence; Rates subject to change without notice
Fixed 360 Months
- Nov 9, 20267.51%▼ from 7.64%
- Nov 5, 20267.64%▼ from 7.76%
- Oct 19, 20267.76%first recorded
Spokane Valley VA Loan Rates
VA Purchase 0% Down; APR Effective 11/6/2026
- Nov 8, 20266.76%▼ from 7.02%
- Oct 29, 20267.02%▼ from 7.26%
- Oct 13, 20267.26%▲ from 6.79%
- Sep 18, 20266.79%first recorded
based on $383,625 loan, no down payment, 45-day lock; rates as of 11/10/2026
Example loan $300,000; effective 11/6/2026; owner occupied 1-4 unit purchase or refinance; APR includes 1% lender fee
- Nov 8, 20266.20%▼ from 6.45%
- Oct 19, 20266.45%first recorded
As Low As; Rates as of Nov 10, 2026 ET; VA loan, no down payment required; Rate already reflects 0.25% discount for eligible Servicemembers and Veterans
- Nov 11, 20266.37%▲ from 6.24%
- Nov 5, 20266.24%first recorded
Fixed 180 Months
- Nov 9, 20266.42%▼ from 6.66%
- Nov 5, 20266.66%▼ from 6.79%
- Oct 26, 20266.79%▼ from 7.42%
- Oct 19, 20267.42%first recorded
As Low As; Rates as of Nov 10, 2026 ET; VA loan, no down payment required; Rate already reflects 0.25% discount for eligible Servicemembers and Veterans
- Nov 11, 20266.58%▼ from 7.10%
- Oct 14, 20267.10%first recorded
Rates effective 11/05/2026; primary residence in single family home with 0% equity and borrower credit score of 780; Ex: Loan Amount $500,000.00; Ex:
Example loan $300,000; effective 11/6/2026; owner occupied 1-4 unit purchase or refinance; APR includes 1% lender fee
- Nov 8, 20266.77%▼ from 7.04%
- Oct 19, 20267.04%first recorded
Fixed 360 Months
- Nov 9, 20266.88%▼ from 7.00%
- Oct 26, 20267.00%▼ from 7.25%
- Oct 19, 20267.25%first recorded
Rates effective 11/05/2026; primary residence, single family home, 0% down payment, borrower credit score 780; Ex: Loan Amount $510,750.00; Ex:
- Nov 11, 20266.89%▼ from 7.40%
- Oct 14, 20267.40%first recorded
Rates listed are for primary residence in single family home with 10% equity and borrower credit score of 780; Effective 11/05/2026; Example loan amount $459,675.00; Example
- Nov 11, 20266.90%▼ from 7.29%
- Oct 7, 20267.29%first recorded
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Spokane Valley, WA Mortgage Rate Trends
Compare local Spokane Valley, WA mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes, updated every evening.
Washington 30-year fixed rates fell 0.035 points over the past 7 days to 7.203%.
Washington 15-year fixed rates fell 0.108 points over the past 7 days to 6.689%.
Washington Mortgage Rate Forecast, Next 12 Months
Where are Washington mortgage rates headed through November 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for Spokane Valley, WA Home Buyers
Monthly principal & interest payment on Spokane Valley, WA median home of $382,300 (20% down, 30-year fixed, city-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (WA avg) | 7.203% | $2,077 | 33.7% | |
| 6-Month Forecast | 7.203% (6.85, 7.50%) | $2,077 | +$0/mo | 33.7% |
| 12-Month Forecast | 7.453% (7.10, 7.75%) | $2,129 | +$52/mo | 34.5% |
Income column = annual mortgage payment as % of Spokane Valley, WA median household income ($74,042). Above 30% is generally considered cost-burdened.
Spokane Valley, Washington Housing Affordability
The MonitorBankRates Housing Affordability Index (MBR-HAI) for Spokane Valley, Washington is updated every morning from local Census Bureau data and the current Washington average mortgage rate. A score of 100 equals the national baseline; higher is more affordable.
- MBR-HAI Score: 88.9 Less Affordable (Nov 12, 2026)
- National Score: 97.8 (Spokane Valley is 8.9 points below)
- Rank in Washington: 196 of 347 cities (1 = most affordable)
- Average 30-Year Rate: 7.20% (Washington lenders)
- Median Home Value: $382,300 (Census)
- Median Household Income: $74,042 (Census)
- Principal & Interest on the Median Home: $2,076/mo (20% down)
What This Score Means for Spokane Valley, Washington Home Buyers
The median home value of $382,300 against a median household income of $74,042 gives a price-to-income ratio of 5.2x, modestly above the national norm. Beyond the mortgage, the median total monthly owner cost here is $1,287, covering the mortgage, property taxes, insurance and utilities. Property taxes alone average $283 a month.
- 120+ Very Affordable
- 110 to 119 Affordable
- 95 to 109 Near Average
- 85 to 94 Less Affordable
- 50 to 84 Much Less Affordable
- Below 50 Least Affordable
See the full Spokane Valley affordability page Washington index All state rankings Methodology
How Mortgage Rates Impact Home Affordability in Spokane Valley, Washington
Spokane Valley, Washington Housing Market Overview
According to the U.S. Census Bureau, the median owner-occupied home value in Spokane Valley, Washington is approximately $382,300. The 2026 FHFA conforming loan limit for this area is $832,750, meaning most buyers financing at 80% LTV will qualify for conforming loan pricing, making rate comparison across local lenders especially valuable.
Spokane Valley, Washington Homeownership Rate
The homeownership rate in Spokane Valley, Washington stands at 63.6%, near the national average of 65.7%. The homeowner vacancy rate is 1.8%.
Monthly Payment Estimates for Spokane Valley, Washington Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $310,000 mortgage, based on a 20% down payment on the Spokane Valley, Washington median home value.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.703% | 30-year fixed | $2,001 | $410,352 |
| 7.203% Current Avg | 30-year fixed | $2,105 | $447,754 |
| 7.703% | 30-year fixed | $2,211 | $485,895 |
| 6.689% | 15-year fixed | $2,733 | $181,894 |
A 0.500% rate increase on a $310,000 loan adds roughly $106 per month and over $38,140 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders, using the rate table above, is one of the most impactful financial decisions a Spokane Valley, Washington buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only; taxes, insurance, and PMI not included.
Spokane Valley, Washington Income & Housing Affordability
At a price-to-income ratio of 5.2x, Spokane Valley, Washington is a moderately expensive housing market. That ratio, median home value divided by median household income, is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for Spokane Valley, Washington Buyers
With a median household income of $74,042 per year in Spokane Valley, Washington ($6,170/month) and a median home value of approximately $382,300, a buyer financing at 80% LTV at the current average rate would commit roughly 34.1% of gross monthly income to principal and interest alone. That places most buyers above the 30% threshold housing economists use to define "cost burdened", before taxes, insurance, HOA fees, or PMI are factored in.
Compared to the Washington statewide price-to-income ratio of 5.8x, Spokane Valley tracks closely with the broader Washington market on income-adjusted affordability. In either case, even a 0.25% improvement in your mortgage rate meaningfully reduces both the income needed to qualify and the total cost over the loan term.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in Spokane Valley, Washington
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home in Spokane Valley, Washington. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
In Spokane Valley, Washington, the median homeowner with a mortgage pays approximately $1,287/month in total housing costs, covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $1,353/month including utilities. In this market, owning costs less per month than renting, a compelling financial case for buyers who can qualify for financing. Property taxes alone account for $283/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
In Spokane Valley, Washington, 29.3% of homeowners with mortgages are cost burdened and 49.5% of renters are cost burdened. Renters face significantly higher burden rates than owners, a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. With an owner burden rate of 29.3% near the national average of 28.0%, this market reflects typical affordability conditions for mortgage holders.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
Spokane Valley, Washington Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s Spokane Valley, Washington rates. The home price is prefilled with the local median home value. Adjust anything, or click a current rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only, excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your Spokane Valley, Washington Home Loan
Rates are only part of the equation. Use these calculators to translate current Spokane Valley, Washington mortgage rates and home loan rates into real numbers for your specific situation before you request quotes from mortgage lenders.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Spokane Valley, Washington rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path: mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment, to show which option builds more wealth over your intended time horizon in Spokane Valley, Washington.
CalculateTypes of Mortgages Available in Spokane Valley, Washington
Not every loan program is right for every buyer in Spokane Valley, Washington. Rates, down payment requirements, eligibility rules, and long-term costs vary significantly across products, and the right choice depends on your credit profile, how long you plan to stay, and whether you qualify for any government-backed programs.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term. Your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s Spokane Valley, Washington rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period, commonly 5, 7, or 10 years, after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down, and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15% to 0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment, given ongoing home price trends in Spokane Valley, Washington, FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with, and often better than, conventional loan rates.
A one-time funding fee applies, 2.15% of the loan for first-time VA borrowers with no down payment, which can be financed into the loan. In Spokane Valley, Washington, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
The 2026 FHFA conforming loan limit for Spokane Valley, Washington is $832,750. Mortgages above that amount are classified as jumbo loans and are not eligible for purchase by Fannie Mae or Freddie Mac, which means lenders carry the full risk and price that risk accordingly.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10 to 20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Spokane Valley, Washington mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for Spokane Valley, Washington directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Spokane Valley, Washington. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in WA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
Mortgage Product Information
How a Mortgage Works
A mortgage is a loan used to buy a home in Spokane Valley, Washington, secured by the property itself as collateral. The borrower repays the amount over a set term, most commonly 30 or 15 years, in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed vs. Adjustable Rate Mortgages
A fixed-rate mortgage keeps the same interest rate for the entire term, so a Spokane Valley, Washington homeowner’s principal-and-interest payment never changes. For example, BECU Boeing Employees Credit Union is listing a VA 30 Year Fixed at 6.76%. An adjustable-rate mortgage (ARM) starts with a fixed period, often five, seven, or ten years, and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they tend to suit Spokane Valley, Washington borrowers who expect to move or refinance before that point. On the adjustable-rate side, BECU Boeing Employees Credit Union is listing a Adjustable Rate 5/6 (ARM) at 6.62%.
How Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that national baseline, the rate a Washington borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why the advertised rates above are a starting point, and a borrower’s final rate is set once an application is underwritten.
Points and Closing Costs
The interest rate is not the only cost of buying a home in Spokane Valley, Washington. Discount points are an optional upfront fee (one point equals one percent of the loan amount) paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps Spokane Valley, Washington shoppers account for these costs when weighing lenders.
When to Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. For Spokane Valley, Washington homeowners, the general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home, known as the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate, or to remove mortgage insurance once enough equity has built up. Current Spokane Valley, Washington refinance rates from local lenders are listed on our refinance page.
Frequently Asked Questions about Mortgage Rates in Spokane Valley, Washington
What are mortgage rates in Spokane Valley, Washington today?
What are home loan rates in Spokane Valley, WA today?
How does my credit score affect my rate in Spokane Valley, Washington?
What is a 30-Year Fixed Mortgage?
What are closing costs in Spokane Valley, Washington?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in Spokane Valley, Washington?
Do I need 20% down to buy a house in Spokane Valley, Washington?
What is the difference between Interest Rate and APR?
How do I compare mortgage lenders in Spokane Valley, Washington?
How do I get mortgage quotes in Spokane Valley, Washington?
What is the median home value in Spokane Valley, Washington?
What is the homeownership rate in Spokane Valley, Washington?
What is the conforming loan limit in Spokane Valley, Washington?
What is the median monthly cost of homeownership in Spokane Valley, Washington?
What are the median property taxes in Spokane Valley, Washington?
What is the median rent in Spokane Valley, Washington?
What percentage of homeowners are cost burdened in Spokane Valley, Washington?
What percentage of renters are cost burdened in Spokane Valley, Washington?
What are the best Mortgage rates in Spokane Valley, Washington?
- BECU Boeing Employees Credit Union: 6.76% (VA 30 Year Fixed)
- Numerica Credit Union: 7.00% (Home Loan - 30-year Fixed)
- HAPO Community Credit Union: 6.375% (One-Time Close Construction Loan - 30-Year Fixed)
- First Fed Bank: 6.625% (VA Home Loan: Rate & Term Refi - 30-year Fixed Rate VA Refinance)
- Whatcom Educational Credit Union: 6.625% (VA 30-Year Fixed)
Spokane Valley, Washington Rates & Resources
