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9 best mortgage lenders in Arizona
Looking to call Arizona home? Here are our top 9 lender picks for the Copper State.
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If you’re looking to settle in sunny Arizona, you’re in good company. Arizona is home to over seven million people and currently has the fastest-growing homeownership rate in the US, jumping to 71.7% from 64% in 2020 — over four points higher than the national average.
The median house price in Arizona is $303,230, according to Zillow, with a projected growth rate of 11.5% in 2021. If you dream of buying a home in Arizona, our top nine mortgage lenders can help get you there.
What are the best mortgage lenders in Arizona?
- Best online experience: Better
- Best marketplace: LendingTree
- Most popular: Rocket Mortgage
- Best rates: North American Savings Bank
- Best for first-time homebuyers: Freedom Mortgage
- Best for customer service: Synergy One Lending
- Best for refinancing: Navy Federal Credit Union
- Best for a wide range of credit scores: Mr. Cooper
- Best regional lender: Pima Federal Credit Union
How we picked the best lenders
We handpicked these recommendations from more than 200 mortgage companies originating home loans in Arizona. These top nine picks made our list after we looked at interest rates, first-time homebuyer assistance, credit score eligibility, customer service and technology. We also researched customer reviews from consumer rating sites like Trustpilot, Zillow and the Better Business Bureau (BBB) to guide our decisions. To learn about our lender selection process, please see Finder’s rating methodology.
Best online experience
Better.com
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
Are you after a fast loan application so you can move quickly? If so, Better’s digital mortgage process can help. Unlike traditional lenders, Better links directly to your financial accounts, providing you with a preapproval decision in minutes.
When you’re house hunting in an active market like Arizona, having a loan approval ready can help show sellers you’re serious. So, if you’re comfortable with a digital application and want a faster lending experience, Better could be the perfect solution.
- Lower fees. Unlike other lenders, Better doesn’t charge origination or broker fees, such as application or credit check fees.
- Digital application process. Better’s digital application links to the actual numbers in your bank and tax accounts, eliminating the need to dig through your files.
- Helpful website. Better’s website is unusually informative, allowing you to view current interest rates and detailed mortgage information.
- No specialized first-time homebuyer products. Better offers FHA loans, but no specialized products that offer rebates or reduced PMI.
- You give up some privacy. While optional, Better requires login credentials to your bank and tax accounts for faster processing.
| Loan types | Conventional, Jumbo, FHA, Refinance |
|---|---|
| Minimum credit score | Refinance: 680
All other loans: 620 |
| Minimum down payment | 3% |
| States available | Not available in: HI, MA, MN, NV, NH, VT, VA |
| Fees | Better doesn’t charge origination fees, but you may be charged other third-party fees including appraisal, title services, recording changes and more. |
Best marketplace
LendingTree
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
Not sure which Arizona lender is best? Enter LendingTree. LendingTree is a 100% free third-party service that gives you tailored recommendations from its database of 1,500 partnered lenders so you can compare and choose.
All that’s required is to provide LendingTree with some basic personal data and your homebuying plans, and the service will find the best matching loans for your situation. One advantage of using LendingTree is that lenders know they’re competing with each other and may offer you better rates.
- Does the hard work for you. Instead of having to research lenders, LendingTree uses your information to target lenders that will work with your credit score. This saves time and effort.
- Multiple loan offers. You’ll receive multiple loan offers with LendingTree. When you get a good quote, you can use it as a bargaining tool with other lenders who may be willing to match or beat it.
- Alerts you to new deals. LendingTree works on your behalf to find lower rates and will alert you when a better interest rate is found. This means you don’t need to continually follow up yourself.
- Lenders may be pushy. Once you’ve submitted your information, expect to be inundated with phone calls and emails from loan officers eager for your business. As always, get a few quotes before settling on a specific lender.
- Your information is shared. Once you fill out the form, LendingTree sends out your contact information to various companies. Offers many continue to come in even after you’ve found a loan.
| Loan types | Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance |
|---|---|
| Minimum credit score | Conventional: 620
FHA: 500 VA: 620 USDA: 640 Jumbo: 800 |
| Minimum down payment | 3% |
| States available | Available in all states |
| Fees | While not listed, expect to pay about 2% to 5% of your home’s total price in fees, including application, origination and third-party fees. |
Most popular
Rocket Mortgage
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
Founded in 2016, Rocket Mortgage is a fully online mortgage company owned by Quicken Loans. What makes Rocket Mortgage popular is its ability to walk you through the entire loan process without requiring you to work with a loan officer, unless you want to.
Using the Rocket Mortgage interface, you can apply for a loan, check your application status and receive updates through the Rocket Mortgage app. Rocket Loans can verify your assets and credit digitally to help speed up the loan application process.
- Don’t need to dig through paperwork. Rocket Mortgage’s electronic verification process eliminates unnecessary paperwork.
- No in-person meetings required. Unlike traditional lenders, you can apply for a mortgage and get funded completely online.
- Get help if you need it. While working with a loan officer is optional, you can always call the company if you need help at any step of the way.
- Must give up some privacy. To obtain loan preapproval, you’ll be asked to provide login credentials to your bank account.
- Website doesn’t list loans. The Rocket Mortgage website doesn’t make it clear what types of loans it offers. You’re given options only after you apply.
- Doesn’t offer HELOCs. The company doesn’t offer HELOCs. Instead, it offers cash-out refinances for customers.
| Loan types | Conventional, Jumbo, FHA, VA, Refinance |
|---|---|
| Minimum credit score | Conventional: 620
FHA: 580 VA: 620 Jumbo: 700 |
| Minimum down payment | 3% |
| States available | Available in all states |
| Fees | Rocket Mortgage charges a one-time “good faith deposit” on its home loans, payable by credit or debit card. A $400 to $750 fee covers your credit report, a home appraisal and loan processing fees.
Your deposit is refundable after you close your loan with Rocket Mortgage. It’s subtracted from your closing costs, so you pay less overall for your mortgage. While not listed, expect to pay about 2% to 5% of your home’s total price in fees, including origination, application and third-party fees. 0.5%–1% origination fee. |
Best rates
North American Savings Bank
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
Based in Kansas City, Missouri, North American Savings Bank offers low-rate online mortgage loans nationally and in Arizona. The bank's goals are twofold: to take care of their customers’ needs and deliver competitive products.
NASB is one of the leading national mortgage lenders in the US, offering conventional, VA, FHA, Jumbo and IRA residential real estate loans. If you’re looking for a lender with low rates and online convenience, North American Savings Bank may be an ideal partner.
- Competitive rates and fees. NASB offers some of the most competitive rates in the country based on our research.
- Informative website. Unlike many credit unions, the NASB website is clear to navigate, helpful and has a lot of information for borrowers, including current mortgage rates and a homebuyer toolkit.
- Closing cost calculator. NASB offers a closing cost calculator to help estimate your closing costs before purchasing a home.
- Mobile app lacks features. NASB offers a mobile app, but customers complain about a lack of useful features.
- No branches outside of Missouri. While the bank offers nationwide online lending, the bank only has mortgage loan offices in Kansas City, Missouri.
| Loan types | Conventional, Refinance, Jumbo, FHA, VA, Home Equity/HELOC |
|---|---|
| Minimum credit score | Conventional: 620 or higher
FHA: 560 or higher VA: 620 or higher |
| Minimum down payment | 3% |
| States available | Available in all states |
| Fees | While not listed, you’ll pay anywhere from 2% to 5% of your home’s total price in fees, including origination, application and third-party fees. |
Best for first-time homebuyers
Freedom Mortgage
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
Founded in 1990, Freedom Mortgage’s mission is to foster homeownership in America. The company specializes in helping borrowers buy a home or refinance regardless of their circumstances and is particularly focused on helping military members achieve the goal of homeownership.
In addition to offering some of the lowest FHA rates, Freedom Mortgage offers a Close On Time Guarantee. If the company doesn’t close your loan when promised, it will pay you the lesser of $1,000 or your first mortgage payment.
- Eagle Eye Program. This rewards program alerts you when rates drop, potentially enabling you to lower your monthly payment.
- Useful mortgage calculators. The Freedom Mortgage offers calculators to help you calculate your payment under multiple home purchase scenarios.
- Insurance integration. Freedom Mortgage partners with Matic Insurance to provide quotes from multiple top-rated carriers.
- No online application. The site doesn’t offer an online application process. You need to contact a Freedom Mortgage loan officer to get started.
- Certain loans not available. While offering a range of loans for first-time homebuyers, Freedom Mortgage doesn’t offer renovation, reverse or HELOC loans.
- Mixed reviews. The company has several complaints lodged on the BBB website related to poor service and communication.
| Loan types | Conventional, Jumbo, FHA, VA, USDA, Refinance |
|---|---|
| Minimum credit score | Conventional: 620
FHA: 540 VA: 580 USDA: 640 |
| Minimum down payment | 3% |
| States available | Available in all states |
| Fees | While not listed, expect to pay about 2% to 5% of your home’s total price in fees, including origination, application and third-party fees. |
Best for customer service
Synergy One Lending
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
If you want a company that puts customers first, look no further than Synergy One Lending. The company has a 4.9/5 rating on both Zillow and Google reviews, with customers reporting being extremely happy with the level of service and professionalism.
The company’s goal is to combine the best of human expertise with digital mortgage technology to create a Modern Mortgage Experience. You can either apply online or use Synergy One Lending’s S1 Connect app to get started.
- Digital application process. Synergy One Lending allows you to upload documents or link to your financial accounts for instant verification of assets.
- S1 Connect app. The app lets borrowers apply for a loan, compare rates, send documents, eSign, track your application and communicate with your loan officer.
- 10-day close offer. The company offers a 10-day close offer to help you compete with all-cash offers, but it's only valid for Fannie Mae purchase loans.
- Logins may be required. To use the optional account verification feature, you must provide login credentials to your financial accounts.
- Don’t list costs or fees. Synergy One Lending doesn’t list its costs and fees on its website.
| Loan types | Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance |
|---|---|
| Minimum credit score | 620 |
| Minimum down payment | 3% |
| States available | AL, AR, AZ, CA, CO, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, NE, NM, OH, OK, OR, SC, SD, TN, TX, UT, WA, WI, WY |
| Fees | While not listed, expect to pay about 2% to 5% of your home’s total price in fees, including application, origination and third-party fees. |
Best for refinancing
Navy Federal Credit Union
620
Min. credit score
Min. credit score
0%
Min. down payment
Min. down payment
If you or a family member has a military service history, Navy Federal could be a good option for your refinancing needs. The credit union offers a wide range of refinance mortgage loans that can enable you to obtain a better interest rate, remove PMI with less than 20% down or get cash out for other needs. And unlike many lenders, the Navy Federal Credit Union website makes it easy to view current rates so you can compare different options at a glance.
- Freedom lock. Gives you the opportunity to lock your interest rate and relock twice if rates improve. It’s free for new purchase and refinance loans.
- View rates online. Navy Federal Credit Union advertises their interest rates for a range of home loans, including the VA Streamline loan, which can be used to refinance a loan with minimal out-of-pocket costs.
- No PMI required. The company offers several loan options that don’t require PMI with less than 20% down.
- Must be a member. To qualify for a loan, you or one of your family or household members must have ties to the armed forces, DoD or National Guard.
- Longer wait times. Due to a high volume of loan applications, it may take Navy Federal longer than other lenders to respond to your loan request.
| Loan types | Conventional, Jumbo, FHA, VA, HELOC, Refinance |
|---|---|
| Minimum credit score | Conventional: 620
Other loans: 580 or higher, depending on the loan type |
| Minimum down payment | 0% |
| States available | Available in all states |
| Fees | No underwriting, document, or application fees, but "Choice" line of loans can require a 1% origination fee and 1.75% funding fees (can be waived by agreeing to pay 0.25% more on the interest rate.) |
Best for a wide range of credit scores
Mr. Cooper
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
Is your credit history holding you back? Mr. Cooper may be able to help. The lender offers a standard range of first-time homebuyer mortgage options and is willing to work with borrowers with lower credit scores. While the company isn’t known for its customer service, it may be a reasonable choice if a lower credit score is making it difficult for you to get a mortgage in Arizona.
- Close On Time Guarantee. If your qualifying mortgage doesn’t close on the date promised, Mr. Cooper will cover your first mortgage payment.
- Digital convenience. Mr. Cooper has a useful mobile app that can be used to make payments, track your home’s value and research refinancing options.
- Doesn’t sell its loans. While Mr. Cooper purchases loans from other companies, it will never sell your loan.
- Negative online reviews. The company doesn’t have the most stellar reputation, with an average customer rating of 4.2/5 on ConsumerAffairs.com.
- Fewer loans to choose from. Compared to other lenders, you may find the selection of loans more limited.
- May be hard to contact. Customers report having difficulty contacting the company and resolving issues.
| Loan types | Conventional, Jumbo, FHA, VA, Home Equity, Refinance |
|---|---|
| Minimum credit score | Conventional: 620 |
| Minimum down payment | 3% |
| States available | Available in all states |
| Fees | Expect to pay about 2% to 5% of your home’s total price in fees, including application, origination and third-party fees. |
Best regional lender
Pima Federal Credit Union
620
Min. credit score
Min. credit score
3%
Min. down payment
Min. down payment
Would you prefer a regional lender in Arizona? Since 1951, Pima Federal Credit Union has been serving the Greater Tucson community as a nonprofit cooperative. The credit union has nine branches in Pima and Apache counties with over 60,000 members.
To become a member, you must work for one of the businesses in the credit union’s employer group list. With so many businesses listed, chances are good you’ll qualify for membership if you’re an employee in Pima or Apache county.
- Many mortgage options. Pima Federal Credit Union offers a healthy range of home loans, including lot and construction loans.
- Personalized and friendly service. It was easy to reach a loan representative, and we were provided with friendly service and quick answers.
- Mortgage calculators available. The Pima Federal Credit Union website offers a range of mortgage calculators you can use, including a reverse mortgage calculator.
- Does not disclose fees. Pima Federal Credit Union doesn’t list information about fees or closing costs on its website, but we learned it has low origination fees.
- Not available in all counties. The credit union only has a presence in two out of 15 counties in Arizona (Pima and Apache).
| Loan types | Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance |
|---|---|
| Minimum credit score | Conventional: 620
Jumbo: 740 |
| Minimum down payment | 3% |
| States available | Only available in: AZ |
| Fees | As of December 2020, you’ll pay a $475 application fee and a $250 processing fee, plus any applicable third-party fees. |
How do I choose the best lender for me?
With so many options available, finding the right mortgage lender in Arizona may feel daunting. Fortunately, it’s possible to narrow down the choices by thinking about what’s significant to you. While interest rates are important, a lender’s customer service, reputation and helpfulness are equally valuable to consider.
Here’s how to narrow your search:
- Read online reviews. Online reviews are a rich source of information when comparing lenders. Negative reviews can pinpoint problems before you become a customer.
- Interview your lender. Just like hiring an employee, take the time to interview your lender. Key questions to ask include:
- How long will the process take?
- Can the mortgage application be done online?
- Who will be my contact person if I need help?
- Do you intend to sell my loan after closing?
- Can I get a free rate lock?
- Be ready to negotiate. As a borrower, you have the right to ask for a lower rate or costs. Getting preapprovals from multiple lenders can help you negotiate.
- Weigh all the factors. While interest rates are important, it’s also relevant to consider fees, down payment and PMI — as these costs all factor into the cost of your loan.
Compare mortgage lenders
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.Average rates and fees in Arizona
As of December 30, 2020, the benchmark 30-year fixed mortgage rate in the US is 2.850%. According to data from the Consumer Financial Protection Bureau (CFPB), most Arizona lenders are offering interest rates around 2.750%, with rates ranging anywhere from 2.000% to 4.125% as of this writing.
Additionally, average mortgage closing costs in Arizona are approximately 1.21% to 1.82% of the final home sale price based on data from ClosingCorp. Research mortgage rates in Arizona or view Arizona closing costs for more details on what you can expect to pay.
What about brokers?
Besides LendingTree, these top nine Arizona lenders are companies that underwrite mortgage loans directly. If you don’t have the time to research these lenders yourself, you can also work with a mortgage broker who can find a loan for you on commission.
While it’s standard practice for mortgage brokers to charge an origination fee equal to 1% to 2% of your loan’s value, some may charge unnecessary fees. Be sure to talk to different mortgage brokers, ask what they charge, read their online reviews to make sure it’s someone you can trust.
Bottom line
When it comes to finding a great loan, everyone is unique. Whether you’re a first-time homebuyer or retiree, there are numerous types of mortgages designed to fit your specific needs. While we believe these nine Arizona lenders will work for many borrowers, you may want to compare more lenders to find the perfect match.
Home loans ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.
Read the full methodology of how we rate home loan providers.
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