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Arizona Mortgages (AZ)
According to The University of Arizona, Economic and Business Research Center, the Arizona economy “has a full head of steam, but the pace will moderate as the year progresses due to less exuberant consumer spending and the return of more ‘normal’ real estate activity.” Inventories of housing have returned to normal in Arizona, after a buying frenzy last year, and prices have moderated. Mortgage rates fell slightly in early April, making this a good time to purchase or re-finance a home in Arizona.
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Quick Arizona Housing facts
Percent of Arizonans who own a home: 68%
Percent of Renters in Arizona: 32%
Median Arizona Household Income: $40,905
Average Arizona credit score: 659
Best City to live in Arizona: Scottsdale, Arizona
Median Arizona Home Value: $121,300
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How much house can I afford in Arizona
One of biggest problems facing Arizona homebuyers is figuring out how much house they can afford. As housing prices keep going up, and rates seem to move quickly it can be tough to know how much you can really afford. What we recommend it look at your debt-to-income ratio, how much you are currently paying in rent, and how much Arizona taxes will be.
Refinancing in Arizona
Paying off all your high interest debt could be only a few short days away, if you decided to refinance your home. Refinancing can lower your over all monthly payment, especially if rates are low, and help you get out of debt once an for all. Even if you don’t have a lot of equity in your home, there are loan programs that can lend up t0 125% of the value of your home.
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.
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| Type of Loan |
Rate* APR* |
| 5 Year ARM | 5.821% 5.033% |
| 15 Year Fixed | 5.243% 5.288% |
| 30 Year Fixed | 5.729% 5.717% |
| Home Equity Loan | 7.420% 5.740% |
| HELOC | 6.305% 6.990% |
| *Rate & APR Based on The Bradford Index |
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