If you are considering buying a home in the Grand Canyon State, then you are alone away. Arizona has 3 million housing units According to the US Census Bureau, homemade rate at the rate of 64.8% 2018 American Community Survey.
The median housing price for Arizona is $ 241,100, with a national average price of $ 229,700. Even in the most expensive counties, the maximum is not much higher than that figure, and some counties are very inexpensive.
What are mortgage rates in Arizona?
House interest rates Range from 2.63% Service 4% In Arizona.
What are today’s mortgage rates?
By locking in a low mortgage rate today, you can save thousands over the life of your loan. Compare your mortgage rate offers with national average trends.
|
Loan type |
Rate of this week |
Last week rate |
| 30-Year Fixed Rate Mortgage | 3.01% | 3.03% |
| 15-Year Fixed Rate Mortgage | 2.58% | 2.56% |
| 30-Year Fixed-Rate Jumbo Mortgage | 3.03% | 3.09% |
| 5/1 ARM | 3.04% | 3.06% |
| 5/1 Jumbo ARM | 2.86% | 2.87% |
* Rates up to October 28, 2020
US News’ Best Arizona Mortgage Lender
US News conducted an in-depth review of major direct mortgage lenders. Research was based on program availability and customer satisfaction ratings. Because each consumer has different needs, the top finishers were chosen in several key areas.
Methodology: US News conducted an in-depth review of leading direct mortgage lenders in Arizona. The research was based on program availability, customer satisfaction ratings, and qualification requirements. Because each consumer has different needs, the top finishers were chosen in several key areas.
Lender highlights
- Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: $ 5 million
- Better Business Bureau Rating: A +
Best counter
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Different types of mortgages
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Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients
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No closing costs and no annual cash balance fees for balance transfers and HELOCs
Before you apply
- Mortgage Type: Traditional, FHA, Jumbo, Refinance, USDA and VA
- Minimum FICO Credit Score: 580
- Maximum loan amount: $ 3 million
- Better Business Bureau Rating: a
Best counter
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Homebuyer offers programs for the first time
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FICO accepts mortgage applicants with credit scores as low as 580
Before you apply
- Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
- Minimum FICO Credit Score: 620
- Maximum loan amount: $ 3 million
- Better Business Bureau Rating: A +
Best counter
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Accepts up to 3% down payment
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Receives high marks from Better Business Bureau
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: Different
- Better Business Bureau Rating: A +
Best counter
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Receives strong customer service rating from Better Business Bureau
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Offers a wide range of mortgage products
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Offers exclusive mortgage programs for first time buyers and manufactured homebuyers
main characteristics:
- Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
- Minimum FICO Credit Score: 500 with conditions
- Maximum debt-to-income ratio: 43% for FHA
- Maximum combined debt-to-value ratio: 90%
- JD Power Satisfaction Rating: Four out of five
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The LoanDepot mortgage has a lifetime guarantee, which means that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.
main characteristics:
- Loan Type: Traditional, FHA, VA, USDA, ARM, Refinance
- Minimum FICO Score: 600
- Maximum debt-to-value ratio: Not disclosed
- Maximum debt-to-income ratio: 43%
- Total Closing Cost: 2% to 6% of the loan amount
- Equity required: Not disclosed
- JD Power Satisfaction Rating: Not rated
Best counter
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Offers various types of mortgage loans.
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Nationwide offers mortgage loans.
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Helps with closing costs.
Highlight:
- Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
- Minimum FICO Credit Score: 580 (FHA), other loans vary
- Maximum debt-to-income ratio: 60%
- JD Power Satisfaction Rating: Five out of five
Best counter
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The complete loan procedure is available online.
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Wide variety of mortgage products.
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Good customer service rating.
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
- Minimum FICO Credit Score: 660
- Maximum loan amount: $ 1.5 million
- Better Business Bureau Rating: A +
mortgage calculator
Is your dream home within reach? US News’ mortgage calculator will show you how much home you can buy.
What are some Arizona homebuyer programs?
The state offers just one program to assist homebuyers in the state through the Arizona Industrial Development Authority.
- available to: Qualified Arizona homebuyers who complete a homebuyer education course and have a credit score of 640 or above.
- Income Range: $ 105,291
- First time homebuyers only? No.
- Loan Options: 30-Year, Fixed Rate Mortgage.
- Benefit: The program has a HOME PLUS mortgage with up to 5% payment and closing cost assistance. The assistance comes in the form of a second mortgage loan, which has no interest rate and can be forgiven in three years. If the house is sold or the loan is refinanced during that time, the remaining amount that is not forgiven will be payable. If the loan is not forgivable, it is due to the sale of the house or if you refinance your loan. The Home Plus Mortgage Loan comes with lower mortgage insurance requirements than with a conventional traditional loan.
Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising clients of US News. Advertising ideas can influence offers that appear on the site, but do not affect any editorial decisions, such as which loan products we write and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.