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Mason County, Washington FHA, VA, and USDA Loan Information

Table of Contents

-How to purchase a home in Mason County
-What are the government loan limits in Mason County, WA?
-What parts of Mason County are eligible for USDA loans?
-Do I need flood insurance?
-How do I learn about Property Taxes in Mason County
-What is the median home price in Mason County, WA?
-How many people live in Mason County?
-What are the major cities?
-How do I see FHA- and VA-Approved homes for sale?
-Is there a cost to have a real estate agent represent me?
-What closing costs do I need?
-How can I get assistance with closing costs?
-About Mason County
-How much of a loan can I qualify for, based on my income?
-Approved Condominium Projects in Mason County

How to purchase a home in Mason County

Are you interested in buying a home in Mason County? This is a step by step guide to all the ins and outs of the homebuying process. For more detail about FHA loans, be sure to check out our complete guide. We also have an in-depth guide to VA loans and the USDA’s Rural Development home loan program.
For now, let’s look at the basic steps to buying a home – and what you’ll have to look out for in Mason County.

  1. Get in touch with a loan officer – give us a call at 877-432-5626 We can help you figure out what type of loan you might qualify for. Programs through the VA, USDA, and FHA allow you to buy a home with a small down payment – or no down payment at all. We will also check your credit and income to see how much of a loan you can qualify for. When we do this, we do a “soft pull” on your credit. This is different from an official credit inquiry and won’t hurt your credit score.
  2. Compare loan offers. Either call us or fill out the form by filling up the form at the top right of this page.
  3. Give your Loan Officer the information they need to find you a loan For a purchase loan or cash-out refinances:
    • Your ID
    • Previous two years of W2s
    • Most recent 30 days paystubs
    • Most recent 60 days bank statements
    • Landlord and HR/Payroll Department contact info
      For a refinance loan, you will also need information on the loan you want to refinance.
  4. Contact our Loan officers to compare the interest rates and APRS – but keep in mind that the fixed- and adjustable-rate mortgages are apples and oranges. Use the Loan Estimate to compare the true costs of each loan, both month-to-month and over the life of the mortgage.
  5. Find a home Get connected with a FedHome Loan Centers Real Estate Agent. Once you meet with them to talk about your wants and needs, you can sign up for the property search feed. This will give you alerts about homes for sale in Mason County. Now you’re ready to preview properties and start touring homes.
  6. Make an offer and negotiate the terms of the sale
  7. Get the necessary and recommended inspections Required Inspections:
    • Termite Inspection
    • Well or septic inspections, if applicable
    • We can help you check if your home is in one of the Mason County flood hazard areas.
      Recommended Inspections:
      Home Inspection, Roof Inspection, Sewer Inspection
  8. Get the home appraised Construction loans require a construction appraisal and permit approval
  9. Lock in your interest rate Pro Tip: Wait until the appraisal to lock in your loan rates. If it turns out you need to make repairs, it can push the closing back. Then you run the risk of losing that rate or having to pay an extension fee.
  10. Close the deal and get packing! You’re ready to go!


What are the Loan Limits for Mason County?

  • FHA Loan Limit $331,760 (Single family residence) / $424,800 (Duplex) / $513,450 (Triplex) / $638,100 (Fourplex)
  • USDA Loan Limit $265,400
  • VA Home Loan Limit $0 down up to $3,000,000 / 2 open VA loans at one time $510,400 *(Call 877-432-5626 for details).

What Parts of Mason County are eligible for USDA Loans?

  • All of Mason County is eligible for a USDA Rural Development home loan.
  • Eligible Zip Code: 98524, 98528, 98546, 98548, 98555, 98560, 98584, 98588, 98592.

Do I need Flood Insurance?

  • The FHA, USDA, and VA all require flood insurance in Special Flood Hazard Areas.
  • In Mason County, there are several bodies of water that see slight to severe flooding. Mostly located in low elevation areas around Hood Canal, Oakland Bay, and Case Inlet. Other smaller flood hazard areas are around Dry Bed Creek and Decker Creek.

How do I learn about Property Taxes in Mason County?

  • Patti Mclean is the Mason county tax assessor. Her office is located at 411 N 5th Street, Shelton, Washington 98584, and can also be reached by calling (360) 427-9670 Ext: 491.
  • There are 50 tax incentives and deductions offered by the state of Washington that are meant to bolster local business growth. Also, there are several tax credits programs for specific industries that meet individual requirements. Furthermore, deferral programs are also available for manufacturers, high technology businesses, and fruit & vegetable businesses.

What is the Median Home Price in Mason County?

Currently, the median home value for Mason County is $304,688. Also, the median household income for residents of the county is $55,726.

How many people live in Mason County?

As of 2019, Mason County’s population is 66,768, which has increased by about 10% over the last decade. Demographically speaking, 79% of the population is White, with 10% Hispanic and 5% American Indian.

What are the major cities?

The county has one city, the city of Shelton, which serves as the county seat.

How do I see FHA- and VA-Approved homes for sale?

You can view all of the properties available for sale in Mason County through our Multiple Listing Service. In addition, you can see approved condos at the bottom of this page.

Is there a cost to have a real estate agent represent me?

The seller must pay the real estate professionals’ commission, not the buyer. This means that, as a homebuyer, there is no cost to have a real estate agent represent you. In fact, it’s a good idea to get your own agent in order to have someone in your corner during the negotiation process. For more information about real estate agents, click here.

What closing costs do I need?

For FHA loans, closing costs can end up being 3-4% of the loan amount. These costs include origination fees from the lender, any discount points purchased for a better interest rate, and pre-paid items like insurance and taxes.

How can I get assistance with closing costs?

There are several ways to reduce the amount you have to pay at closing. One way is to get down payment assistance. The FHA’s Within Reach program provides grants to help low- and middle-income families with their down payment.

About Mason County

The county was established in 1854 and was named after Charles H. Mason, the first Secretary of State for the Washington Territory. The county was originally home to the Tuanook people who lived along the county’s coasts for hundreds of years before European arrival into the area.

Today residents of the county enjoy an economy whose biggest employment industries are in the healthcare, manufacturing, and public administration sectors. Hence, the most common occupations for residents are in the office administration, management, and sales-related areas.

When it comes to its educational system, the county is home to four school districts. These districts are named North Mason, Shelton, Mary M. Knight, and Pioneer School Districts, and they provide education for students K to 12th grade.

The county has various areas for recreation, including bike lanes that spread throughout the county like Southwest County Loop and Harstine Island Loop. In addition to the bike lanes, there are also several historic buildings and museums in the county like Allyn Historic Church, Mason County Historical Society, and Museum.

Furthermore, the county hosts several annual events like Oysterfest, Bluegrass from the Forest, and Alderbrook’s New Year’s Eve. Making the small towns in Mason County a lively and fun place for the whole family to enjoy, and a great place to call home.     

How much of a loan can I qualify for, based on my income?

Monthly Income Purchase Price
$2,628.90 $195,175.91
$2,832.00 $210,254.55
$3,181.50 $236,202.27
$3,612.00 $268,163.64
$3,985.50 $295,893.18
$4,361.10 $323,778.64
$4,971.90 $369,125.91
$5,761.50 $427,747.73
$6,892.20 $520,625.00
$5,199.60 $368,791.82
$5,743.80 $408,815.91
$6,249.90 $450,287.73
$6,998.10 $501,960.45
$9,776.70 $725,845.91
$5,568.00 $413,381.82
$6,574.80 $488,129.09
$7,569.60 $561,985.45
$5,141.40 $381,710.00
$6,345.30 $471,090.45
$7,639.80 $567,197.27
$8,360.10 $620,674.09
$9,260.70 $687,536.82
$10,095.30 $749,499.55
$12,165.00 $903,159.09
$13,929.60 $1,034,167.27
$17,511.00 $1,300,059.09
$18,406.80 $1,366,506.06

Purchase Price subject to credit and income evaluation. 

Approved Condos in Mason County

Condo ID /
of Project
ALLYN, WA 98524

Find Your Paradise Today in Mason County

We can help you find and finance your dream home the county. Contact us to see how we can help you!

Home financing is easy when you apply for a home loan with FedHome Loan Centers!