Arizona Mortgage Rates, Fees & Info
Phoenix, AZLEI: 549300V36YE6JCCEJB76
Tax ID: 86-0101004
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Mortgage Data
Review & Overview
Arizona is a smaller mortgage company specializing in 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 by origination volume include: Phoenix, Tucson, Prescott Valley, Flagstaff, and Payson among others. We have data for 11 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% | 4/22/24 |
| 30 Year Conventional Purchase | 6.61% | 4/22/24 |
| 30 Year Conventional Refi | 6.55% | 4/22/24 |
| 30 Year Cash-out Refi | 6.87% | 4/22/24 |
| 30 Year FHA Purchase | 7.32% | 4/22/24 |
| 30 Year VA Purchase | 6.50% | 4/22/24 |
| 30 Year VA Refi | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 5.71% | 4/22/24 |
| 15 Year Conventional Refi | 6.42% | 4/22/24 |
| 15 Year Cash-out Refi | 6.42% | 4/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,710Origination Dollar Volume (All Markets)
$254,740,000Top 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) | 1,666 | $247,080,000 | $148,307 | $4,048 | 4.41% |
| TUCSON, AZ (FHA|USDA|VA) | 11 | $2,505,000 | $227,727 | $4,124 | 3.36% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 11 | $1,685,000 | $153,182 | $3,238 | 4.40% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $3,807 | 3.13% |
| Payson, AZ (FHA|USDA|VA) | 7 | $755,000 | $107,857 | $3,132 | 4.59% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,031 | 2.75% |
| Show Low, AZ (FHA|USDA|VA) | 5 | $475,000 | $95,000 | $3,359 | 4.43% |
| Outside of Metro Areas | 2 | $310,000 | $155,000 | $3,559 | 3.06% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,976 | 3.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,280 | 4.25% |
| Minot, ND (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $6,015 | 4.38% |
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.
Similarity Rank: 129
Similarity Rank: 825
Similarity Rank: 1034
Similarity Rank: 1054
Similarity Rank: 1056
Similarity Rank: 1136
Similarity Rank: 1218
Similarity Rank: 2387
Similarity Rank: 2900
Similarity Rank: 3105
Product Mix
For 2020, Arizona's most frequently originated type of loan was Conventional, with 1,141 originations. Their 2nd most popular type was HELOC, with 543 originations.
Loan Reason
For 2020, Arizona's most frequently cited loan purpose was Home Improvement, with 582 originations. The 2nd most popular reason was Refi, with 447 originations.
Loan Duration/Length
For 2020, Arizona's most frequently cited loan duration was Other, with 632 originations. The 2nd most popular length was 30 Year, with 547 originations.
Origination Fees/Closing Costs
Arizona's average total fees were $4,451, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 567 originations.
Interest Rates
During 2020, Arizona's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 4-5%, with 575 originations.
Loan Sizing
2020 saw Arizona place emphasis on $100,000 or less loans with 893 originations, totaling $38,415,000 in origination value.
Applicant Income
Arizona lent most frequently to those with incomes in the $100k-150k range, with 420 originations. The second most popular income band? $50k-75k, with 420 originations.
Applicant Debt to Income Ratio
Arizona lent most frequently to those with DTI ratios of 20-30%, with 478 originations. The next most common DTI ratio? 30-36%, with 366 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.55%
Arizona has a below average approval rate.
Pick Rate
Approvals leading to origination57.66%
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 | 1,710 | $254,740,000 | $148,971 |