Arizona Central Mortgage Rates, Fees & Info
Phoenix, AZLEI: 549300A76WI58XAFNF59
Tax ID: 86-0098350
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Mortgage Data
Review & Overview
Arizona Central is a smaller mortgage company specializing in Home Improvement and Cash Out Refi loans. Arizona Central has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Flagstaff, Tucson, Show Low, and Prescott Valley among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Arizona Central has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Arizona Central is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.60% | 11/17/24 |
| 30 Year Conventional Refi | 6.49% | 11/17/24 |
| 30 Year Cash-out Refi | 6.46% | 11/17/24 |
| 30 Year FHA Purchase | 7.44% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Refi | 6.39% | 11/17/24 |
| 15 Year Cash-out Refi | 6.39% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Arizona Central Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
504Origination Dollar Volume (All Markets)
$54,860,000Awards
ARIZONA CENTRAL - 2023
ARIZONA CENTRAL is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Arizona Central's average 30 year fixed mortgage rate was
6.52%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.04%.
Relative Fees (Closing Costs)
Arizona Central's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,722.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 402 | $45,340,000 | $112,786 | $1,359 | 7.08% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 31 | $3,425,000 | $110,484 | $1,120 | 7.01% |
| TUCSON, AZ (FHA|USDA|VA) | 35 | $3,005,000 | $85,857 | $1,322 | 6.96% |
| Show Low, AZ (FHA|USDA|VA) | 20 | $1,720,000 | $86,000 | $1,008 | 7.08% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $1,274 | 7.44% |
| Outside of Metro Areas | 3 | $365,000 | $121,667 | $4,001 | 7.88% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 4 | $210,000 | $52,500 | $750 | 7.25% |
| Safford, AZ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,035 | 8.75% |
| Payson, AZ (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $1,066 | 6.38% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $924 | 6.50% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,110 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against ARIZONA CENTRAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 110
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 447 | $48,915,000 | $109,430 | $1,331 | 6.83% |
| HELOC | 57 | $5,945,000 | $104,298 | n/a | 9.03% |
For 2023, Arizona Central's most frequently originated type of loan was Conventional, with 447 originations. Their 2nd most popular type was HELOC, with 57 originations.
Loan Reason
For 2023, Arizona Central's most frequently cited loan purpose was Home Improvement, with 318 originations. The 2nd most popular reason was Cash Out Refi, with 149 originations.
Loan Duration/Length
For 2023, Arizona Central's most frequently cited loan duration was 20 Year, with 394 originations. The 2nd most popular length was Other, with 57 originations.
Origination Fees/Closing Costs
Arizona Central's average total fees were $5,722, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 405 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 345 | $38,355,000 | $111,174 |
| Over 8% | 91 | $8,265,000 | $90,824 |
| 7-8% | 59 | $5,845,000 | $99,068 |
| 5-6% | 9 | $2,395,000 | $266,111 |
During 2023, Arizona Central's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was 6-7%, with 345 originations.
Loan Sizing
2023 saw Arizona Central place emphasis on $100,000 or less loans with 298 originations, totaling $17,170,000 in origination value.
Applicant Income
Arizona Central lent most frequently to those with incomes in the $100k-150k range, with 158 originations. The second most popular income band? $150k-250k, with 120 originations.
Applicant Debt to Income Ratio
Arizona Central lent most frequently to those with DTI ratios of 44%, with 86 originations. The next most common DTI ratio? 20-30%, with 84 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.07%
Arizona Central has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination50.20%
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 | 504 | $54,860,000 | $108,849 |