98003 Homes with Assumable Terms

98003 Homes with Assumable Terms

Welcome to the vibrant community of Federal Way, Washington, nestled in the heart of King County, with the enchanting zip code 98003. This flourishing city offers a perfect blend of urban convenience and natural beauty, making it an ideal place to call home. With its proximity to Seattle and Tacoma, residents enjoy easy access to a wealth of amenities, including shopping, dining, and entertainment options, all while being surrounded by stunning parks and waterfronts.

One of the most appealing aspects of the housing market in Federal Way is the availability of homes with assumable terms. This unique feature allows buyers to take over an existing mortgage, potentially offering more favorable interest rates and terms than what might be available in today’s market. This can be a significant advantage for first-time homebuyers or those looking to make a seamless transition into their new home.

The 98003 area is known for its diverse neighborhoods, each with its own charm and character. From cozy single-family homes to modern townhouses, there’s something for every taste and budget. Families will appreciate the top-rated schools and community resources, while outdoor enthusiasts can explore the lush parks and scenic trails that define the region.

Whether you’re searching for your first home or looking to invest in a property with flexible financing options, Federal Way’s 98003 zip code is a fantastic choice. Discover the charm of this thriving community and find your perfect home today!

Newest 98003 Homes with Assumable Terms

30323 15th Court S, Federal Way
$4,950,000
2564976 MLS ⋅ ACTIVE Status
We are pleased to present Redondo Ridge Townhomes, an 18-unit townhome community in Federal Way. Built in 1976, the property offers spacious 2-bedroom, 1.5-bath townhomes averaging 1,010 SF with fireplaces, vaulted ceilings, private patios, and full-size side-by-side washers and dryers. Offered at $4,950,000 ($275,000/unit, $272/SF), the asset delivers a 6.04% in-place cap rate with meaningful upside: current rents average $2,101, roughly 12% below the $2,400 achieved by comparable townhomes, and four unrenovated units offer approximately $500/month of additional income. Capital improvements include a new metal roof (2017), electrical panel upgrades (2018), fresh exterior paint (2026), and 14 of 18 units extensively remodeled with new cabinets, quartz counters, flooring, paint, doors, millwork, and appliances. Located 1.6 miles from the Federal Way Link Light Rail Station with convenient access to employment, shopping, and dining.

30323 15th Court S, Federal Way

Listing Broker: Northmarq Multifamily, LLC; Steve Fischer; 425-830-2254; sfischer@northmarq.com

1407 289th Place, Federal Way
$754,900
3 Beds ⋅ 3 Baths ⋅ 2556078 MLS ⋅ ACTIVE Status
Seller is motivated – Improved Price! $754,900.00, plus a rare assumable loan at 3.375%! Beautifully updated rambler tucked into a quiet cul-de-sac just 1 mile from Redondo Fishing Pier and Beach, with a new waterfront restaurant opening soon. Vaulted ceilings, an open floor plan, and abundant natural light create easy living and relaxed coastal comfort. Fresh interior and exterior paint and brand-new carpet give the home a crisp, move-in-ready feel — perfect for settling in before the holidays. The kitchen features quartz countertops, stainless steel appliances, generous workspace, and seamless flow to the dining and living areas. The primary suite offers a peaceful retreat with a fully remodeled ensuite bath and walk-in closet. A charming Jewel Box half bath adds style and convenience for guests. Step outside to a fully landscaped backyard oasis with mature plantings, privacy fencing, and a new 12×22 covered patio ideal for morning coffee, evening dinners, or year-round outdoor living. Additional updates include a 3-year-old high-efficiency gas furnace, central AC, refreshed bathrooms, and wiring for a home generator. Close to parks, shopping, dining, waterfront attractions, I-5, and the new LINK station at 272nd, this home blends coastal proximity, comfort, and everyday convenience.

1407 289th Place, Federal Way

Listing Broker: Redfin; Graham Raymond Northcott; ;

1407 289th Place, Federal Way
$754,900
3 Beds ⋅ 3 Baths ⋅ 2554789 MLS ⋅ ACTIVE Status
Seller is motivated – Improved Price! $754,900.00, plus a rare assumable loan at 3.375%! Beautifully updated rambler tucked into a quiet cul-de-sac just 1 mile from Redondo Fishing Pier and Beach, with a new waterfront restaurant opening soon. Vaulted ceilings, an open floor plan, and abundant natural light create easy living and relaxed coastal comfort. Fresh interior and exterior paint and brand-new carpet give the home a crisp, move-in-ready feel — perfect for settling in before the holidays. The kitchen features quartz countertops, stainless steel appliances, generous workspace, and seamless flow to the dining and living areas. The primary suite offers a peaceful retreat with a fully remodeled ensuite bath and walk-in closet. A charming Jewel Box half bath adds style and convenience for guests. Step outside to a fully landscaped backyard oasis with mature plantings, privacy fencing, and a new 12×22 covered patio ideal for morning coffee, evening dinners, or year-round outdoor living. Additional updates include a 3-year-old high-efficiency gas furnace, central AC, refreshed bathrooms, and wiring for a home generator. Close to parks, shopping, dining, waterfront attractions, I-5, and the new LINK station at 272nd, this home blends coastal proximity, comfort, and everyday convenience.

1407 289th Place, Federal Way

Listing Broker: Redfin; Graham Raymond Northcott; ;

2873 S 353rd Place, Federal Way
$1,020,000
4 Beds ⋅ 3 Baths ⋅ 2486783 MLS ⋅ ACTIVE Status
Welcome to this luxurious MainVue home in a well-established neighborhood, featuring over $50,000 in builder upgrades and more than $70,000 in backyard enhancements. Designed for entertaining and everyday comfort, this residence blends open concept living with high-end finishes and thoughtful indoor-outdoor flow. Key Features incudes Open-concept family room, dining area, and kitchen with large sliding doors leading to a covered outdoor living space. Gourmet kitchen with quartz countertops, abundant counter space and storage, and room for casual dining. Upgraded backyard with extensive improvements. Upstairs loft offering flexible space for a media area, home office, or playroom. Central A/C and heating for year-round comfort. Additional highlights that includes elegant finishes and thoughtful builder upgrades throughout.

2873 S 353rd Place, Federal Way

Listing Broker: Realty ONE Group Orca Gold; Dai Tran; 206-915-2420; daitranhomes@gmail.com

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