Arizona Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300V36YE6JCCEJB76

Tax ID: 86-0101004

3.8 stars - Updated: 2/19/24 - out of 5 stars, based on 46 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Arizona is a smaller mortgage company specializing in Home Improvement 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 by origination volume include: Phoenix, Tucson, Prescott Valley, Show Low, and Lake Havasu City among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Arizona has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Arizona 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 about average 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 2/19/24
30 Year Conventional Purchase 6.61% 2/19/24
30 Year Conventional Refi 6.55% 2/19/24
30 Year Cash-out Refi 6.87% 2/19/24
30 Year FHA Purchase 7.32% 2/19/24
30 Year VA Purchase 6.50% 2/19/24
30 Year VA Refi 6.27% 2/19/24
15 Year Conventional Purchase 5.71% 2/19/24
15 Year Conventional Refi 6.42% 2/19/24
15 Year Cash-out Refi 6.42% 2/19/24
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 Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Arizona. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

2,133

Origination Dollar Volume (All Markets)

$291,225,000

Awards

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

Relative Rate

Arizona's average 30 year fixed mortgage rate was 4.62%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.14%.

Relative Fees (Closing Costs)

Arizona's average total fees/closing costs for a 30 year fixed rate mortgage were $8,201.

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 $4,750.

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) 2,038 $270,430,000 $132,694 $2,146 5.42%
TUCSON, AZ (FHA|USDA|VA) 18 $4,260,000 $236,667 $4,710 5.60%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 16 $3,660,000 $228,750 $5,770 4.85%
Show Low, AZ (FHA|USDA|VA) 13 $2,725,000 $209,615 $5,174 4.97%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 10 $2,560,000 $256,000 $5,540 6.01%
FLAGSTAFF, AZ (FHA|USDA|VA) 9 $2,425,000 $269,444 $5,080 5.50%
Payson, AZ (FHA|USDA|VA) 14 $2,250,000 $160,714 $1,615 4.94%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $905,000 $905,000 $17,659 4.00%
Outside of Metro Areas 5 $615,000 $123,000 $3,607 5.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $285,000 $285,000 $7,122 5.13%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $265,000 $265,000 $5,265 3.88%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $265,000 $265,000 $4,394 5.63%
Holland, MI (FHA|USDA|VA) 1 $185,000 $185,000 $3,604 6.13%
Brookings, SD (FHA|USDA|VA) 1 $175,000 $175,000 $6,308 7.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $5,470 5.50%
YUMA, AZ (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.00%
Nogales, AZ (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.00%
Safford, AZ (FHA|USDA|VA) 1 $15,000 $15,000 $0 7.75%
Arizona's top markets include Phoenix, Tucson, Prescott Valley, Show Low, and Lake Havasu City among others.

Their top states include:
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against ARIZONA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Credit Union
    Similarity Rank: 210
    ARIZONA CENTRAL
    Similarity Rank: 1166
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 1170
    PIMA Federal Credit Union
    Similarity Rank: 1404
    Western State Bank
    Similarity Rank: 1710
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 2168
    OneAZ Credit Union
    Similarity Rank: 2574
    AERO Federal Credit Union
    Similarity Rank: 2856
    Chicago Financial Services, Inc.
    Similarity Rank: 3131

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,250 $216,990,000 $173,592 $2,196 5.34%
    HELOC 870 $70,220,000 $80,713 n/a 5.54%
    FHA 8 $2,420,000 $302,500 $11,456 5.50%
    VA 5 $1,595,000 $319,000 $10,793 4.55%

    For 2022, Arizona's most frequently originated type of loan was Conventional, with 1,250 originations. Their 2nd most popular type was HELOC, with 870 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,002 $83,920,000 $83,752 $662 5.43%
    Other 664 $45,530,000 $68,569 $3 5.82%
    Refi 189 $27,285,000 $144,365 $1,332 5.11%
    Home Purchase 167 $107,555,000 $644,042 $11,917 4.74%
    Cash Out Refi 111 $26,935,000 $242,658 $4,406 4.42%

    For 2022, Arizona's most frequently cited loan purpose was Home Improvement, with 1,002 originations. The 2nd most popular reason was Other, with 664 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 966 $76,480,000 $79,172 $69 5.53%
    30 Year 319 $147,235,000 $461,552 $8,201 4.62%
    10 Year 270 $15,790,000 $58,481 $16 5.70%
    15 Year 234 $24,710,000 $105,598 $1,042 5.32%
    20 Year 204 $19,610,000 $96,127 $147 6.25%
    5 Year 138 $4,580,000 $33,188 $9 4.89%
    1 Year 1 $235,000 $235,000 $0 6.25%
    30+ year 1 $2,585,000 $2,585,000 $38,329 3.50%

    For 2022, Arizona's most frequently cited loan duration was Other, with 966 originations. The 2nd most popular length was 30 Year, with 319 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 886 $54,620,000 $61,648
    $1k-2k 168 $47,350,000 $281,845
    $5k+ 102 $91,570,000 $897,745
    $2k-3k 38 $8,930,000 $235,000
    $3k-4k 36 $8,370,000 $232,500
    $4k-5k 17 $4,685,000 $275,588

    Arizona's average total fees were $8,201, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 886 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 714 $109,690,000 $153,627
    5-6% 651 $66,865,000 $102,711
    6-7% 291 $24,295,000 $83,488
    3-4% 251 $70,235,000 $279,821
    7-8% 103 $6,335,000 $61,505
    Over 8% 102 $5,970,000 $58,529
    2.5-3% 19 $7,555,000 $397,632
    <2.5% 2 $280,000 $140,000

    During 2022, Arizona's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 714 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,397 $66,855,000 $47,856 $67 5.67%
    $100k-200k 393 $52,225,000 $132,888 $1,691 5.24%
    $200k-400k 217 $59,545,000 $274,401 $4,879 4.73%
    $400k-600k 51 $23,695,000 $464,608 $7,226 4.64%
    $600k-1MM 42 $32,590,000 $775,952 $13,963 4.23%
    $1MM+ 33 $56,315,000 $1,706,515 $26,501 4.13%

    2022 saw Arizona place emphasis on $100,000 or less loans with 1,397 originations, totaling $66,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 623 $59,185,000 $95,000 $997 5.49%
    $50k-75k 405 $35,015,000 $86,457 $1,593 5.42%
    $75k-100k 401 $37,785,000 $94,227 $1,468 5.58%
    $150k-250k 360 $59,840,000 $166,222 $2,642 5.39%
    $50k or less 174 $13,020,000 $74,828 $1,638 5.18%
    $250k+ 136 $79,220,000 $582,500 $12,422 4.97%

    Arizona lent most frequently to those with incomes in the $100k-150k range, with 623 originations. The second most popular income band? $50k-75k, with 405 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 499 $56,245,000 $112,715 $1,610 5.38%
    30-36% 468 $55,530,000 $118,654 $1,498 5.38%
    42% 193 $23,655,000 $122,565 $1,795 5.67%
    <20% 178 $15,700,000 $88,202 $808 4.95%
    41% 127 $16,975,000 $133,661 $2,044 5.70%
    39% 116 $14,760,000 $127,241 $1,875 5.43%
    37% 95 $11,155,000 $117,421 $2,448 5.69%
    40% 91 $8,165,000 $89,725 $1,229 5.74%
    38% 89 $16,905,000 $189,944 $3,048 5.72%
    36% 82 $12,390,000 $151,098 $2,450 5.71%
    43% 65 $9,625,000 $148,077 $2,853 5.27%
    44% 35 $6,295,000 $179,857 $4,168 5.03%
    45% 21 $8,395,000 $399,762 $7,673 4.88%
    49% 16 $7,900,000 $493,750 $11,106 4.78%
    47% 15 $9,135,000 $609,000 $12,221 4.51%
    46% 14 $5,430,000 $387,857 $7,620 5.18%
    50-60% 11 $5,905,000 $536,818 $15,331 5.03%
    48% 8 $1,550,000 $193,750 $5,810 4.77%
    >60% 2 $540,000 $270,000 $10,604 4.88%

    Arizona lent most frequently to those with DTI ratios of 20-30%, with 499 originations. The next most common DTI ratio? 30-36%, with 468 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,863 $258,715,000 $138,870 $2,403 5.40%
    Black 116 $11,410,000 $98,362 $1,589 5.64%
    Asian 54 $6,220,000 $115,185 $1,146 5.34%
    Not applicable 8 $4,970,000 $621,250 $16,390 5.46%
    Not provided 45 $3,965,000 $88,111 $753 5.50%
    American Indian 32 $3,860,000 $120,625 $2,067 5.61%
    Native Hawaiian or Islander 12 $1,750,000 $145,833 $1,639 5.54%
    Japanese 1 $215,000 $215,000 $2,727 5.75%
    Asian Indian 1 $65,000 $65,000 $0 5.00%
    Other Pacific Islander 1 $55,000 $55,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    73.31%

    Arizona has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    56.17%

    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 2,133 $291,225,000 $136,533

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,133 $291,225,000 $136,533

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 280 $42,420,000 $151,500 $2,006 5.25%
    40-60% 148 $45,210,000 $305,473 $4,649 4.46%
    60-80% 138 $89,310,000 $647,174 $11,326 4.44%
    80-100% 67 $27,315,000 $407,687 $7,643 4.86%
    Over 100% 4 $4,160,000 $1,040,000 $20,900 4.41%
    Under 20% 1,496 $82,810,000 $55,354 $15 5.66%