Arizona Mortgage Rates, Fees & Info
Phoenix, AZLEI: 549300V36YE6JCCEJB76
Tax ID: 86-0101004
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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% | 4/28/24 |
| 30 Year Conventional Purchase | 6.61% | 4/28/24 |
| 30 Year Conventional Refi | 6.55% | 4/28/24 |
| 30 Year Cash-out Refi | 6.87% | 4/28/24 |
| 30 Year FHA Purchase | 7.32% | 4/28/24 |
| 30 Year VA Purchase | 6.50% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.71% | 4/28/24 |
| 15 Year Conventional Refi | 6.42% | 4/28/24 |
| 15 Year Cash-out Refi | 6.42% | 4/28/24 |
| 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
2,133Origination Dollar Volume (All Markets)
$291,225,000Top 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) | 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% |
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: 56
Similarity Rank: 450
Similarity Rank: 894
Similarity Rank: 1598
Similarity Rank: 1651
Similarity Rank: 1672
Similarity Rank: 1768
Similarity Rank: 2180
Similarity Rank: 2255
Similarity Rank: 2440
Product Mix
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
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
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
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
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
2022 saw Arizona place emphasis on $100,000 or less loans with 1,397 originations, totaling $66,855,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications73.31%
Arizona has a below average approval rate.
Pick Rate
Approvals leading to origination56.17%
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 |