Arizona Central Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300A76WI58XAFNF59

Tax ID: 86-0098350

5 stars - out of 5 stars, based on 28 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

807

Origination Dollar Volume (All Markets)

$148,375,000
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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 applications
75.41%

Arizona Central has a below average approval rate.

Pick Rate

Approvals leading to origination
44.39%

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%