Arizona Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300V36YE6JCCEJB76

Tax ID: 86-0101004

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Arizona is a smaller mortgage company specializing in Home Improvement, Refi, and Cash Out Refi loans. Arizona has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Prescott Valley, Payson, Show Low, and Tucson among others. We have data for 8 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 a low 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% 11/17/24
    30 Year Conventional Purchase 6.61% 11/17/24
    30 Year Conventional Refi 6.55% 11/17/24
    30 Year Cash-out Refi 6.87% 11/17/24
    30 Year FHA Purchase 7.32% 11/17/24
    30 Year VA Purchase 6.50% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    15 Year Conventional Purchase 5.71% 11/17/24
    15 Year Conventional Refi 6.42% 11/17/24
    15 Year Cash-out Refi 6.42% 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 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

    1,392

    Origination Dollar Volume (All Markets)

    $107,750,000

    Awards

    ARIZONA 30 Year Conventional Loans gold ARIZONA 30 Year Conventional Loans silver
    Show all (2) awards

    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) 1,359 $104,565,000 $76,943 $2,336 5.89%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 9 $1,035,000 $115,000 $2,853 4.51%
    Payson, AZ (FHA|USDA|VA) 7 $765,000 $109,286 $2,869 4.89%
    Show Low, AZ (FHA|USDA|VA) 7 $525,000 $75,000 $2,365 5.54%
    TUCSON, AZ (FHA|USDA|VA) 6 $500,000 $83,333 $2,068 5.35%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,478 4.12%
    FLAGSTAFF, AZ (FHA|USDA|VA) 2 $90,000 $45,000 $0 4.88%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.50%
    Arizona's top markets include Phoenix, Prescott Valley, Payson, Show Low, and Tucson among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • Florida (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.

    LA Financial Federal Credit Union
    Similarity Rank: 72
    Deer Valley Credit Union
    Similarity Rank: 820
    PIMA Federal Credit Union
    Similarity Rank: 1136
    VANTAGE WEST
    Similarity Rank: 1230
    ARIZONA
    Similarity Rank: 1296
    First Credit Union
    Similarity Rank: 1364
    OneAZ Credit Union
    Similarity Rank: 1469
    ARIZONA CENTRAL
    Similarity Rank: 1504
    BELEM SERVICING LLC
    Similarity Rank: 1598
    Canyon State Credit Union
    Similarity Rank: 1710

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 896 $81,650,000 $91,127 $2,347 5.46%
    HELOC 494 $25,760,000 $52,146 n/a 6.63%
    VA 2 $340,000 $170,000 $2,710 4.00%

    For 2019, Arizona's most frequently originated type of loan was Conventional, with 896 originations. Their 2nd most popular type was HELOC, with 494 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 507 $23,965,000 $47,268 $500 6.37%
    Other 442 $17,890,000 $40,475 $0 6.43%
    Refi 238 $26,010,000 $109,286 $2,007 5.26%
    Cash Out Refi 148 $26,840,000 $181,351 $2,367 4.12%
    Home Purchase 57 $13,045,000 $228,860 $2,791 4.24%

    For 2019, Arizona's most frequently cited loan purpose was Home Improvement, with 507 originations. The 2nd most popular reason was Other, with 442 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 622 $31,690,000 $50,949 $500 6.49%
    10 Year 198 $9,300,000 $46,970 $2,219 5.95%
    15 Year 168 $15,990,000 $95,179 $2,303 5.42%
    30 Year 167 $36,415,000 $218,054 $2,422 4.26%
    5 Year 147 $3,995,000 $27,177 $0 5.64%
    20 Year 90 $10,360,000 $115,111 $2,173 5.68%

    For 2019, Arizona's most frequently cited loan duration was Other, with 622 originations. The 2nd most popular length was 10 Year, with 198 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 194 $37,670,000 $194,175
    $1k-2k 38 $7,630,000 $200,789
    $2k-3k 18 $3,860,000 $214,444
    $3k-4k 5 $1,425,000 $285,000
    $5k+ 1 $475,000 $475,000

    Arizona's average total fees were $2,422, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 194 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 431 $23,865,000 $55,371
    4-5% 283 $31,725,000 $112,102
    6-7% 252 $12,080,000 $47,937
    3-4% 177 $29,735,000 $167,994
    Over 8% 122 $4,360,000 $35,738
    7-8% 121 $5,095,000 $42,107
    2.5-3% 6 $890,000 $148,333

    During 2019, Arizona's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 5-6%, with 431 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,051 $42,315,000 $40,262 $2,009 6.33%
    $100k-200k 211 $29,485,000 $139,739 $2,244 4.62%
    $200k-400k 120 $30,960,000 $258,000 $2,408 4.26%
    $400k-600k 9 $4,035,000 $448,333 $3,898 4.10%
    $600k-1MM 1 $955,000 $955,000 $0 4.25%

    2019 saw Arizona place emphasis on $100,000 or less loans with 1,051 originations, totaling $42,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 386 $26,640,000 $69,016 $2,195 5.88%
    $100k-150k 303 $25,895,000 $85,462 $2,330 5.83%
    $75k-100k 295 $22,465,000 $76,153 $2,444 6.00%
    $50k or less 225 $14,025,000 $62,333 $2,373 5.67%
    $150k-250k 150 $13,880,000 $92,533 $2,539 6.08%
    $250k+ 26 $4,580,000 $176,154 $2,830 5.41%

    Arizona lent most frequently to those with incomes in the $50k-75k range, with 386 originations. The second most popular income band? $100k-150k, with 303 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 343 $26,165,000 $76,283 $2,186 5.67%
    30-36% 320 $24,910,000 $77,844 $2,254 5.95%
    42% 115 $7,045,000 $61,261 $2,505 6.46%
    <20% 113 $9,295,000 $82,257 $2,290 5.18%
    41% 84 $5,940,000 $70,714 $2,226 6.11%
    39% 69 $5,605,000 $81,232 $2,263 5.89%
    40% 69 $3,715,000 $53,841 $2,226 6.12%
    36% 69 $5,805,000 $84,130 $2,087 6.08%
    38% 60 $4,590,000 $76,500 $1,969 6.04%
    37% 49 $2,505,000 $51,122 $2,338 6.67%
    43% 47 $3,555,000 $75,638 $2,188 5.97%
    44% 17 $1,465,000 $86,176 $2,252 5.82%
    46% 9 $1,325,000 $147,222 $3,419 4.67%
    49% 9 $2,225,000 $247,222 $5,007 4.46%
    45% 7 $1,325,000 $189,286 $2,803 4.86%
    48% 7 $1,365,000 $195,000 $2,784 4.23%
    47% 3 $575,000 $191,667 $3,586 3.96%
    50-60% 2 $340,000 $170,000 $2,131 5.31%

    Arizona lent most frequently to those with DTI ratios of 20-30%, with 343 originations. The next most common DTI ratio? 30-36%, with 320 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,241 $93,285,000 $75,169 $2,275 5.89%
    Black 68 $6,500,000 $95,588 $2,618 6.10%
    Not provided 33 $3,725,000 $112,879 $3,284 5.38%
    Asian 26 $2,150,000 $82,692 $2,090 5.37%
    American Indian 16 $1,400,000 $87,500 $2,832 5.56%
    Native Hawaiian or Islander 5 $565,000 $113,000 $542 6.03%
    Asian Indian 2 $110,000 $55,000 $0 5.88%
    Other Pacific Islander 1 $15,000 $15,000 $0 6.50%

    Approval Rates

    Total approvals of all applications
    75.25%

    Arizona has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    56.61%

    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 1,392 $107,750,000 $77,407

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 16 $860,000 $53,750
    Single Family (1-4 Units):Site-Built 1,376 $106,890,000 $77,682

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 253 $19,405,000 $76,700 $2,175 5.84%
    40-60% 105 $15,875,000 $151,190 $2,167 4.57%
    60-80% 136 $27,310,000 $200,809 $2,291 4.24%
    80-100% 61 $15,605,000 $255,820 $2,563 4.35%
    Over 100% 1 $475,000 $475,000 $12,507 4.50%
    Under 20% 836 $29,080,000 $34,785 $1,648 6.43%