Arizona Mortgage Rates, Fees & Info
Phoenix, AZLEI: 549300V36YE6JCCEJB76
Tax ID: 86-0101004
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
2,190Origination Dollar Volume (All Markets)
$337,820,000Awards
ARIZONA - 2021
ARIZONA 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'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 applications77.67%
Arizona has a below average approval rate.
Pick Rate
Approvals leading to origination57.77%
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% |
