Arizona Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300V36YE6JCCEJB76

Tax ID: 86-0101004

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2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Arizona is a smaller mortgage company specializing in Home Improvement, Refi, and Home Purchase loans. Arizona has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Phoenix, Prescott Valley, Tucson, Show Low, and San Francisco among others. Arizona 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 is typically an average fee lendor.


Originations

2,190

Origination Dollar Volume (All Markets)

$337,820,000

Awards

ARIZONA FHA Loans silver ARIZONA VA Loans bronze
Show all (2) awards

Relative Rate

Arizona's average 30 year fixed rate mortgage of loans were 3.15%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0%.

Relative Fees

Arizona's average total fees for a 30 year fixed rate mortgage are $4,451.

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) 2,112 $322,990,000 $152,931 $2,701 4.16%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 18 $3,220,000 $178,889 $3,574 3.65%
TUCSON, AZ (FHA|USDA|VA) 15 $2,635,000 $175,667 $2,749 4.01%
Show Low, AZ (FHA|USDA|VA) 10 $1,030,000 $103,000 $2,590 3.50%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $895,000 $895,000 $3,812 2.63%
Payson, AZ (FHA|USDA|VA) 4 $640,000 $160,000 $3,406 4.00%
FLAGSTAFF, AZ (FHA|USDA|VA) 6 $600,000 $100,000 $1,880 3.73%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 4 $580,000 $145,000 $2,047 3.19%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $575,000 $575,000 $3,022 3.00%
BOISE CITY, ID (FHA|USDA|VA) 1 $545,000 $545,000 $5,349 2.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $545,000 $545,000 $5,801 2.88%
Outside of Metro Areas 1 $455,000 $455,000 $8,868 3.75%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $455,000 $455,000 $6,161 3.50%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $355,000 $355,000 $5,420 3.00%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $335,000 $335,000 $6,093 2.75%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $335,000 $335,000 $5,918 3.63%
Silver City, NM (FHA|USDA|VA) 1 $305,000 $305,000 $4,624 3.25%
BATON ROUGE, LA (FHA|USDA|VA) 2 $260,000 $130,000 $3,238 3.31%
CLEVELAND, TN (FHA|USDA|VA) 1 $225,000 $225,000 $4,160 3.13%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $195,000 $195,000 $3,961 3.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,881 4.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $135,000 $135,000 $3,327 3.50%
Russellville, AR (FHA|USDA|VA) 1 $105,000 $105,000 $2,636 3.00%
RICHMOND, VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $85,000 $85,000 $3,174 3.13%
Safford, AZ (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.00%
Nogales, AZ (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.50%

Arizona's top markets include Phoenix, Prescott Valley, Tucson, Show Low, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,143 $324,345,000 $151,351 $2,605 4.17%
VA 35 $10,625,000 $303,571 $5,884 2.55%
FHA 12 $2,850,000 $237,500 $7,536 3.01%

For the 2021 period, Arizona's most frequently originated loan type of loans were Conventional, with 2,143 originations. Their 2nd most popular type is VA, with 35 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 892 $78,480,000 $87,982 $1,455 4.55%
Refi 476 $91,610,000 $192,458 $2,506 3.38%
Other 380 $23,720,000 $62,421 $0 5.20%
Cash Out Refi 275 $63,815,000 $232,055 $3,802 3.16%
Home Purchase 167 $80,195,000 $480,210 $7,775 3.26%

For the 2021, Arizona's most frequently cited loan purpose of loans were Home Improvement, with 892 originations. The 2nd most popular reason of loans were Refi, with 476 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 833 $58,895,000 $70,702 $561 4.82%
30 Year 719 $216,445,000 $301,036 $4,451 3.15%
15 Year 258 $37,230,000 $144,302 $2,104 3.67%
10 Year 200 $11,080,000 $55,400 $178 4.94%
20 Year 100 $11,730,000 $117,300 $1,090 5.01%
5 Year 80 $2,440,000 $30,500 $0 4.27%

For the 2021, Arizona's most frequently cited loan length of loans were Other, with 833 originations. The 2nd most popular length of loans were 30 Year, with 719 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 697 $166,735,000 $239,218
$<1k 495 $36,215,000 $73,162
$2k-3k 68 $16,310,000 $239,853
$3k-4k 62 $16,720,000 $269,677
$5k+ 51 $43,315,000 $849,314

$4,451 of loans were Arizona's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 697 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
4-5% 660 $43,860,000 $66,455
3-4% 570 $142,730,000 $250,404
2.5-3% 480 $110,460,000 $230,125
5-6% 250 $15,050,000 $60,200
<2.5% 82 $18,750,000 $228,659
6-7% 72 $3,610,000 $50,139
7-8% 40 $2,140,000 $53,500
Over 8% 36 $1,220,000 $33,889

During 2021, Arizona's average interest rate of loans were 3.15%, while their most frequently originated rate bucket of loans were 4-5%, with 660 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,101 $51,455,000 $46,735 $363 4.91%
$100k-200k 550 $79,190,000 $143,982 $2,794 3.52%
$200k-400k 413 $112,485,000 $272,361 $3,957 3.19%
$400k-600k 73 $34,865,000 $477,603 $5,834 3.12%
$600k-1MM 32 $24,770,000 $774,063 $8,266 3.27%
$1MM+ 21 $35,055,000 $1,669,286 $19,128 3.37%

2021 saw Arizona place emphasis on $100,000 or less loans with 1,101 originations, totaling $51,455,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 528 $73,380,000 $138,977 $2,317 4.38%
$50k-75k 492 $57,610,000 $117,093 $2,463 3.97%
$75k-100k 398 $47,340,000 $118,945 $2,192 4.21%
$150k-250k 319 $52,995,000 $166,129 $2,317 4.46%
$50k or less 316 $38,860,000 $122,975 $2,729 3.70%
$250k+ 105 $59,035,000 $562,238 $9,343 4.03%

Arizona lent most frequently to those with incomes in the $100k-150k range, with 528 originations. The second most popular income band? $50k-75k, with 492 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 588 $82,790,000 $140,799 $2,531 4.11%
30-36% 475 $75,605,000 $159,168 $2,885 4.14%
<20% 252 $42,060,000 $166,905 $2,557 3.59%
42% 130 $15,130,000 $116,385 $2,215 4.66%
40% 87 $13,045,000 $149,943 $2,560 4.90%
41% 85 $11,515,000 $135,471 $2,528 4.54%
37% 82 $9,200,000 $112,195 $2,321 4.47%
39% 81 $11,715,000 $144,630 $2,464 4.27%
43% 80 $12,350,000 $154,375 $2,908 3.93%
38% 79 $12,535,000 $158,671 $2,708 4.70%
36% 70 $8,370,000 $119,571 $2,187 4.41%
44% 59 $13,725,000 $232,627 $3,689 4.01%
45% 22 $4,140,000 $188,182 $3,575 3.85%
48% 21 $4,355,000 $207,381 $3,049 3.30%
46% 17 $5,795,000 $340,882 $4,290 3.38%
49% 17 $3,345,000 $196,765 $4,488 3.22%
47% 12 $2,830,000 $235,833 $3,598 3.07%
50-60% 8 $1,550,000 $193,750 $4,861 3.52%

Arizona lent most frequently to those with DTI ratios of 20-30%, with 588 originations. The next most common DTI ratio? 30-36%, with 475 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,934 $291,190,000 $150,564 $2,694 4.12%
Asian 59 $17,425,000 $295,339 $4,039 3.99%
Black 108 $17,370,000 $160,833 $2,736 4.16%
Not provided 51 $5,715,000 $112,059 $1,561 4.46%
American Indian 29 $3,225,000 $111,207 $2,937 4.25%
Not applicable 5 $2,595,000 $519,000 $16,781 4.85%
Native Hawaiian 3 $195,000 $65,000 $1,360 6.13%
Asian Indian 1 $105,000 $105,000 $0 4.75%

Approval Rates

Total approvals of all applications
77.67%

Arizona has a below average approval rate.

Pick Rate

Approvals leading to origination
57.77%

Arizona 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 2,190 $337,820,000 $154,256

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,190 $337,820,000 $154,256

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 351 $45,095,000 $128,476 $2,231 3.95%
40-60% 335 $76,625,000 $228,731 $3,323 3.11%
60-80% 372 $123,310,000 $331,478 $4,570 3.17%
80-100% 118 $42,850,000 $363,136 $5,952 3.15%
Over 100% 2 $2,210,000 $1,105,000 $24,156 4.38%
Under 20% 1,012 $47,730,000 $47,164 $76 5.01%