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 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, Prescott Valley, Tucson, Show Low, and San Francisco among others. We have data for 27 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% 4/18/24
    30 Year Conventional Purchase 6.61% 4/18/24
    30 Year Conventional Refi 6.55% 4/18/24
    30 Year Cash-out Refi 6.87% 4/18/24
    30 Year FHA Purchase 7.32% 4/18/24
    30 Year VA Purchase 6.50% 4/18/24
    30 Year VA Refi 6.27% 4/18/24
    15 Year Conventional Purchase 5.71% 4/18/24
    15 Year Conventional Refi 6.42% 4/18/24
    15 Year Cash-out Refi 6.42% 4/18/24
    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

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


    Originations

    2,190

    Origination Dollar Volume (All Markets)

    $337,820,000

    Awards

    ARIZONA FHA Loans silver ARIZONA VA Loans bronze
    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) 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.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Idaho (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: 228
    First Credit Union
    Similarity Rank: 378
    ARIZONA CENTRAL
    Similarity Rank: 1166
    AERO Federal Credit Union
    Similarity Rank: 1428
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1950
    PIMA Federal Credit Union
    Similarity Rank: 2106
    OneAZ Credit Union
    Similarity Rank: 2376
    Western State Bank
    Similarity Rank: 2520
    CREDIT UNION WEST
    Similarity Rank: 2888
    VANTAGE WEST
    Similarity Rank: 3180

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,402 $272,560,000 $194,408 $2,605 3.83%
    HELOC 741 $51,785,000 $69,885 n/a 4.82%
    VA 35 $10,625,000 $303,571 $5,884 2.55%
    FHA 12 $2,850,000 $237,500 $7,536 3.01%

    For 2021, Arizona's most frequently originated type of loan was Conventional, with 1,402 originations. Their 2nd most popular type was HELOC, with 741 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Arizona's most frequently cited loan purpose was Home Improvement, with 892 originations. The 2nd most popular reason was 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 2021, Arizona's most frequently cited loan duration was Other, with 833 originations. The 2nd most popular length was 30 Year, with 719 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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
    $5k+ 51 $43,315,000 $849,314
    $3k-4k 38 $10,160,000 $267,368
    $4k-5k 24 $6,560,000 $273,333

    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 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 for loans was 3.15%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    79.55%

    Arizona has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.92%

    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%