Mortgage Loans in Olympia, Washington
Local mortgage guidance for Olympia homebuyers and investors loan programs, neighborhood considerations, and financing options with Peter Irungu, NMLS #2751063.
About Buying a Home in Olympia
Olympia is the capital of Washington State and the anchor of Thurston County, sitting at the southern end of Puget Sound. The city combines government employment, Evergreen State College, a historic downtown, and access to outdoor recreation. Thurston County is not part of the Seattle–Tacoma–Bellevue high-cost area, so conforming loan limits here may differ from Pierce and King County.
Olympia offers buyers a different price profile than the Seattle metro generally more affordable, though prices have risen as buyers seek options south of Pierce County. The city is about 30 minutes from JBLM, making it viable for some military families, and has a Sounder commuter rail connection to Tacoma and Seattle.
Buyers should confirm the current FHFA county conforming limit for Thurston County before shopping, as it may be lower than the high-cost area figures. USDA financing may also be an option for properties in the rural areas surrounding Olympia.
Olympia Neighborhoods
Housing characteristics vary significantly across Olympia's neighborhoods. Compare specific areas rather than relying on a citywide average.
Housing & Financing Considerations
Olympia offers a mix of historic homes near downtown, mid-century neighborhoods, and newer developments on the outskirts. Conventional, FHA, and VA loans are all viable. Because Thurston County is not a high-cost area, the conforming limit may be lower buyers of higher-value homes should check whether they need jumbo financing. Some rural areas near Olympia may qualify for USDA loans.
Thurston County Loan Limits
Olympia is in Thurston County that is not part of the high-cost Seattle–Tacoma–Bellevue area. Confirm the current FHFA county-specific conforming limit before shopping, as it may be lower than Western Washington figures.
NEXA Lending, LLC is a private mortgage lender/broker and is not affiliated with, endorsed by, or acting on behalf of FHFA, HUD, FHA, VA, USDA, Fannie Mae, Freddie Mac, or any government agency. Reviewed 2026-10-07.
Recommended Loan Programs for Olympia
Based on Olympia's market characteristics, these programs are commonly relevant. Eligibility depends on your individual circumstances.
Olympia Mortgage FAQ
Common questions from Olympia homebuyers and investors.
What is the conforming loan limit in Olympia?
Olympia is in Thurston County, which is not part of the Seattle–Tacoma–Bellevue high-cost area. The conforming limit may be lower than Pierce or King County. Confirm the current FHFA county-specific limit before shopping, as higher-value homes may require jumbo financing.
Can I use a VA loan to buy a home in Olympia?
Yes. Eligible veterans and active-duty service members can use VA financing in Olympia. Olympia is about 30 minutes from JBLM, making it viable for some military families. VA loans offer no down payment for those with sufficient entitlement. NEXA Lending is a private mortgage company not affiliated with the VA.
Is USDA financing available near Olympia?
Some rural areas surrounding Olympia may qualify for USDA financing, which offers no down payment for eligible properties in designated rural zones. Eligibility depends on the specific property address, not just proximity to Olympia. NEXA Lending is a private mortgage company not affiliated with USDA.
Is Olympia more affordable than Tacoma or Seattle?
Olympia generally offers lower purchase prices than Seattle and many Tacoma neighborhoods, though prices have risen as buyers look south. Total affordability depends on property taxes, insurance, commute costs, and the specific property not just the citywide median.
Can I get down payment assistance in Olympia?
Qualifying buyers in Olympia may be eligible for Washington State Housing Finance Commission programs. Home Advantage offers down payment assistance through a deferred second mortgage. Income limits apply. NEXA Lending is a private mortgage company not affiliated with the Commission.
How far is Olympia from JBLM?
Olympia is roughly 30 minutes south of JBLM by car, depending on traffic and the specific gate. This makes it a viable option for some military families, though communities like Lakewood and DuPont are closer to the base.