Current Arizona Mortgage Rates | Best Arizona Mortgages & Refinance Rates


Best Current Arizona Mortgage Rates Today (10-15-30-Year Fixed, 5/1, 7/1 ARM)

While Arizona mortgages may have traditionally been thought of as for retirees-only, the past few years have seen dynamic economic growth, boosting demand for real estate across the state.

As reported in Forbes, cities like Phoenix and Flagstaff are experiencing strong growth in healthcare, retail, and the large finance sector. In fact, Phoenix is growing so quickly that “jobs are being added at twice the national rate.”

If you’re considering purchasing a home in Arizona, or are thinking about refinancing an existing Arizona mortgage, you’ll want to have a clear understanding of what Arizona mortgage rates are available.

Refinancing or buying a home in Phoenix, Flagstaff, Tucson, Mesa, Scottsdale, Tempe, Chandler, or any other city in Arizona means making a financial commitment that will last for decades.

With Arizona mortgage rates constantly changing, you’ll want to make sure you get the best Arizona mortgage rates for your unique financial needs and goals.

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Which Arizona City Are You Located In?

When it comes to finding the best AZ mortgage rates, there are plenty of factors to consider. For many Arizona mortgage lenders, the location of the home will play a large role in what type of Arizona mortgage rates are available.

This means that homes across the state could have varying AZ mortgage rates based on the individual city, neighborhood, and the condition of the home itself.

While you are searching for the best Arizona mortgage rates, it may be worthwhile to check the rates for neighboring cities to explore other Arizona mortgage rates that could potentially be more affordable over the long run.

See the table below for a list of some of the largest cities in the state offering a wide range of Arizona mortgage lenders. 

Top Arizona Cities Population (2016)
Phoenix 1.65 million
Tucson 530,706
Mesa 484,587
Chandler 247,477
Scottsdale 246,645
Glendale 245,895
Gilbert 237,133
Tempe 182,498
Peoria 164,173
Surprise 132,677
Yuma 94,906
Avondale 82,881
Goodyear 77,258
Flagstaff 71,459

Source: Google


Key Requirements for Buying a House in Arizona

Before or after you apply for an Arizona mortgage loan, you’ll want to ensure that you complete the below list of requirements.

  • Get your down payment ready (~20% of the loan amount)
  • Maintain good to excellent credit
  • Save some extra funds for your closing cost
  • Maintain a low debt balance
  • Demonstrate sufficient income
  • Gather your financial documents
  • Get a home appraisal on the home

You’ll also need to examine your options for Arizona mortgage products before choosing the best AZ mortgage rate for you.

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Needed Documents for a Mortgage Loan Application

According to Chase bank, below are the most common mortgage loan paperwork and documents that you’ll need to gather when applying for an Arizona mortgage loan.

  • Paystubs reflecting at least 30 days of income
  • Names/addresses of employers for the past two years
  • W-2 records for the past two years
  • 1-2 years of tax returns
  • Completed and signed form 4506-T or 4506T-EZ
  • 2-3 months of bank statements
  • Year-to-date profit and loss statements and signed returns for past two years (if self-employed)
  • Proof of pension income, if applicable
  • Social Security and Disability payments, if applicable
  • Dividend earnings
  • Bonuses
  • Child support or alimony payments (optional disclosures)
  • Copy of earnest money deposit
  • Any information on debts like car loans, student loans, or credit cards
  • Security accounts (stocks, bonds, life insurance)

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Conclusion – Finding the Best Arizona Mortgage Rates for a Home in Arizona

Purchasing a home can be an exciting time. For many homeowners, it marks change, renewal, progress, and the pride of ownership.

Not surprisingly, purchasing or refinancing a home can also be an expensive time, particularly when it comes to AZ mortgage rates.

Understanding Arizona mortgage rates or Arizona refinance rates and getting a mortgage that fits with your current finances is the best way to ensure that a mortgage or refinance sets you up for financial success over the long run.

After all, a mortgage will stick with you for the next few decades, making it crucial for each potential homeowner to find the best AZ mortgage rates.

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Mortgage Rate Table Disclaimer

Click here to read AdvisoryHQ’s disclaimer on the mortgage loan table(s) displayed on this page.


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AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

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