Arizona Central Mortgage Rates, Fees & Info
Phoenix, AZLEI: 549300A76WI58XAFNF59
Tax ID: 86-0098350
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Arizona Central is a smaller mortgage company specializing in Home Improvement, Cash Out Refi, and Refi loans. Arizona Central has a high proportion of conventional loans. Their top markets include Phoenix, Flagstaff, Tucson, Show Low, and Prescott Valley among others. Arizona Central has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Arizona Central is typically a low fee lendor.Originations
807Origination Dollar Volume (All Markets)
$148,375,000Awards
ARIZONA CENTRAL - 2021
ARIZONA CENTRAL is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Arizona Central's average 30 year fixed rate mortgage of loans were
2.92%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.23%.
Relative Fees
Arizona Central's average total fees for a 30 year fixed rate
mortgage are $3,240.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 639 | $116,225,000 | $181,886 | $2,222 | 4.22% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 53 | $12,995,000 | $245,189 | $2,604 | 3.23% |
| TUCSON, AZ (FHA|USDA|VA) | 51 | $7,375,000 | $144,608 | $2,420 | 3.98% |
| Show Low, AZ (FHA|USDA|VA) | 38 | $6,080,000 | $160,000 | $2,459 | 3.41% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 15 | $4,195,000 | $279,667 | $3,625 | 3.62% |
| Outside of Metro Areas | 3 | $445,000 | $148,333 | $3,423 | 2.46% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $2,053 | 4.53% |
| Safford, AZ (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $8,321 | 3.50% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,141 | 3.75% |
| Nogales, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,163 | 2.63% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,319 | 6.25% |
Arizona Central's top markets include Phoenix, Flagstaff, Tucson, Show Low, and Prescott Valley among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 807 | $148,375,000 | $183,860 | $2,308 | 4.08% |
For the 2021 period, Arizona Central's most frequently originated loan type of loans were Conventional, with 807 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 344 | $45,270,000 | $131,599 | $1,535 | 5.04% |
| Cash Out Refi | 236 | $48,370,000 | $204,958 | $2,398 | 3.90% |
| Refi | 160 | $35,020,000 | $218,875 | $2,626 | 2.60% |
| Home Purchase | 67 | $19,715,000 | $294,254 | $5,000 | 3.38% |
For the 2021, Arizona Central's most frequently cited loan purpose of loans were Home Improvement, with 344 originations. The 2nd most popular reason of loans were Cash Out Refi, with 236 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 383 | $101,895,000 | $266,044 | $3,240 | 2.92% |
| 20 Year | 301 | $27,405,000 | $91,047 | $1,043 | 5.81% |
| 15 Year | 65 | $13,855,000 | $213,154 | $2,785 | 2.27% |
| Other | 47 | $4,445,000 | $94,574 | $0 | 5.07% |
| 10 Year | 11 | $775,000 | $70,455 | $1,459 | 3.83% |
For the 2021, Arizona Central's most frequently cited loan length of loans were 30 Year, with 383 originations. The 2nd most popular length of loans were 20 Year, with 301 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 403 | $97,805,000 | $242,692 |
| $<1k | 297 | $25,205,000 | $84,865 |
| $2k-3k | 30 | $9,470,000 | $315,667 |
| $5k+ | 16 | $7,770,000 | $485,625 |
| $3k-4k | 13 | $3,625,000 | $278,846 |
$3,240 of loans were Arizona Central's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 403 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 218 | $55,120,000 | $252,844 |
| 6-7% | 144 | $13,010,000 | $90,347 |
| <2.5% | 135 | $30,185,000 | $223,593 |
| 3-4% | 107 | $32,845,000 | $306,963 |
| 4-5% | 103 | $9,115,000 | $88,495 |
| 5-6% | 88 | $7,230,000 | $82,159 |
| 7-8% | 12 | $870,000 | $72,500 |
During 2021, Arizona Central's average interest rate of loans were 2.92%, while their most frequently originated rate bucket of loans were 2.5-3%, with 218 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 282 | $17,540,000 | $62,199 | $1,112 | 5.37% |
| $100k-200k | 230 | $33,420,000 | $145,304 | $2,204 | 3.83% |
| $200k-400k | 227 | $63,495,000 | $279,714 | $3,136 | 3.09% |
| $400k-600k | 64 | $30,750,000 | $480,469 | $4,158 | 2.90% |
| $600k-1MM | 4 | $3,170,000 | $792,500 | $7,011 | 3.47% |
2021 saw Arizona Central place emphasis on $100,000 or less loans with 282 originations, totaling $17,540,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 208 | $37,880,000 | $182,115 | $2,034 | 4.38% |
| $150k-250k | 163 | $34,635,000 | $212,485 | $2,330 | 4.75% |
| $50k-75k | 143 | $23,645,000 | $165,350 | $2,483 | 3.54% |
| $75k-100k | 140 | $25,300,000 | $180,714 | $2,207 | 3.98% |
| $50k or less | 107 | $13,865,000 | $129,579 | $2,501 | 3.13% |
| $250k+ | 44 | $12,230,000 | $277,955 | $2,562 | 4.68% |
Arizona Central lent most frequently to those with incomes in the $100k-150k range, with 208 originations. The second most popular income band? $150k-250k, with 163 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 173 | $37,475,000 | $216,618 | $2,756 | 3.51% |
| 30-36% | 173 | $33,385,000 | $192,977 | $2,312 | 4.06% |
| <20% | 105 | $17,275,000 | $164,524 | $2,485 | 3.65% |
| 44% | 44 | $5,970,000 | $135,682 | $1,658 | 5.00% |
| 43% | 41 | $6,535,000 | $159,390 | $1,905 | 4.67% |
| 39% | 39 | $7,665,000 | $196,538 | $2,420 | 3.98% |
| 42% | 36 | $5,920,000 | $164,444 | $2,072 | 4.46% |
| 41% | 34 | $6,650,000 | $195,588 | $2,138 | 4.84% |
| 38% | 33 | $6,035,000 | $182,879 | $2,521 | 4.20% |
| 40% | 29 | $4,565,000 | $157,414 | $1,948 | 4.69% |
| 36% | 29 | $4,395,000 | $151,552 | $1,760 | 4.45% |
| 37% | 26 | $4,250,000 | $163,462 | $2,099 | 4.37% |
| 45% | 13 | $2,005,000 | $154,231 | $1,626 | 5.12% |
| 46% | 13 | $2,155,000 | $165,769 | $2,065 | 4.59% |
| 48% | 7 | $1,635,000 | $233,571 | $2,545 | 3.10% |
| 47% | 6 | $1,260,000 | $210,000 | $2,282 | 4.66% |
| 49% | 6 | $1,200,000 | $200,000 | $2,654 | 3.21% |
Arizona Central lent most frequently to those with DTI ratios of 20-30%, with 173 originations. The next most common DTI ratio? 30-36%, with 173 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 664 | $122,570,000 | $184,593 | $2,308 | 4.09% |
| Not provided | 91 | $15,715,000 | $172,692 | $2,285 | 4.04% |
| Asian | 20 | $4,090,000 | $204,500 | $2,538 | 3.84% |
| Black | 18 | $3,130,000 | $173,889 | $1,969 | 4.68% |
| American Indian | 11 | $2,305,000 | $209,545 | $2,738 | 3.57% |
| Native Hawaiian | 1 | $395,000 | $395,000 | $2,831 | 2.49% |
| Not applicable | 2 | $170,000 | $85,000 | $1,603 | 4.13% |
Approval Rates
Total approvals of all applications75.41%
Arizona Central has a below average approval rate.
Pick Rate
Approvals leading to origination44.39%
Arizona Central has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 807 | $148,375,000 | $183,860 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 807 | $148,375,000 | $183,860 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 149 | $18,325,000 | $122,987 | $1,670 | 4.69% |
| 40-60% | 133 | $28,925,000 | $217,481 | $2,565 | 2.74% |
| 60-80% | 219 | $64,555,000 | $294,772 | $3,376 | 2.96% |
| 80-100% | 56 | $19,210,000 | $343,036 | $4,316 | 2.96% |
| Under 20% | 250 | $17,360,000 | $69,440 | $970 | 5.67% |
