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Mortgage rates in Arizona

Rates at slightly higher than the national average since 1997.

Consider how mortgage rates are trending for 2020 to get a low rate on your new home in the Grand Canyon State.

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Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
620
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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How much do Arizona rates vary by loan?

Average mortgage rates in Arizona for a 30-year fixed-rate mortgage can vary from 4.679% to 5.034%. Lenders weigh many factors when calculating your mortgage rate, and rates depend on the kind of loan you qualify for. For example, conventional loans generally come with higher interest rates than VA loans.

Let’s say you borrow $165,000 with a 30-year mortgage. The average 5.025% for a conventional loan might run you $888.28 a month, excluding taxes and other fees specific to your mortgage. If you were eligible for a VA loan at an average rate of 4.679%, you might pay $853.67 a month.

Although it is a difference of only $34.61 a month, it could save you $12,458.68 over the life of your mortgage.

2018 average rates in Arizona by loan type

Loan type15-year average rate30-year average rate
Conventional4.337%5.025%
FHA4.276%5.034%
VA3.998%4.679%
USDANot available4.731%

Based on data from ffiec.cfpb.gov.

Mortgage rates in Arizona have trended slightly higher than the national average since 1997.

National housing agencies like the Mortgage Bankers Association, Freddie Mac and Fannie Mae predict that interest rates will average about 3.70%. Although mortgage rates may rise and fall slightly, Arizona rates are expected to stay around or below 4%.

Compare mortgage rates throughout Arizona

Mortgage rates and home values in Arizona vary by geographic area. So, borrowers in neighboring cities may pay different amounts for their home loan.

We analyzed data from the Home Mortgage Disclosure Act to break down what you might pay on the average 30-year fixed-rate mortgage, depending on where you live in Arizona. This amount does not include taxes, fees, PMI or costs unique to your mortgage.

Metropolitan statistical areaAverage mortgage rateMedian loan amountEstimated monthly cost
Flagstaff4.976%$275,000$1,472.23
Lake Havasu City-Kingman4.955%$165,000$881.22
Phoenix-Mesa-Scottsdale5.017%$235,000$1,263.97
Sierra Vista-Douglas4.873%$145,000$767.18
Tucson4.844%$185,000$975.56
Yuma4.945%$155,000$826.87

Based on data from ffiec.cfpb.gov.

How to get the best mortgage rate in Arizona

To secure the lowest interest rate for your home loan, shine up your credit and weigh full costs when shopping for a lender:

  1. Compare mortgage types. Look for loans with rates and terms that you’re eligible for. For instance, conventional loans generally come with higher interest rates than government-insured options, but fewer borrower and property restrictions.
  2. Boost your borrowing potential. Pay down as much of your existing debt as you can to improve your eligibility for the strongest rates.
  3. Consider closing costs. Lenders charge fees that range from 1.15% to 1.74% of your home’s purchase price to close on a loan in Arizona.

Historical mortgage interest rates in Arizona

Bottom line

Mortgage rates in Arizona sit just above the national average but also depend on factors that include your property’s location and cost. Because lenders set their own rates, compare at least two mortgage lenders to get an idea of APRs, closing costs and loan programs you might qualify for.

Frequently asked questions.

Does Arizona offer state programs with reduced mortgage rates?

No. But Arizona supports two homebuyer programs — Pathways to Purchase and HOME Plus — that can help qualified borrowers with down payments or closing costs.

Where can I find more information about fair housing laws?

The Arizona Department of Housing offers free education about the Fair Housing Act. If you live in the Phoenix area, call 602-252-3423. If you live near Tucson, call 520-798-1568.

What is a rate lock?

An agreement with a lender that guarantees access to the prevailing market rate for a specified period of time, typically for a fee.

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