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Arizona Mortgage Rates

Finding the Best Arizona Mortgages

Arizona residents take note: To end up with a mortgage with the lowest rate, you need to get organized. Arizona lenders offer a variety of mortgage products and the more you know about the pros and cons of each, the easier it will be to compare them. To help get the mortgage process going, start by determining what’s most important – the most competitive rate of interest, the lowest possible monthly payment, or spending as little as possible on interest costs. Once you’ve identified your objective, keep it in the forefront of your mind as you pursue your task of finding the ideal Arizona mortgage.

Arizona lenders offer adjustable- and fixed-rate mortgages, second mortgages and refinance mortgages. If you’re confused right now, don’t worry. offers valuable resources designed to help make sense of your options. With the resources available at you can:

  • Compare different types of loans and their rates.
  • Determine how much of a loan and what rate of interest fits your budget.
  • Understand amortization and create your own tables.
  • Search for qualified brokers in Arizona.

Start by comparing Arizona mortgage rates

Before you can compare mortgage rates, you need to understand the differences. A fixed-rate mortgage won’t ever surprise you. Because nothing ever changes, you’ll always know the rate of interest, the monthly mortgage payment and the date the loan is set to mature. Most borrowers choose a 30-year term, but 15-year terms are also worth evaluating since they may have lower rates.
An adjustable-rate mortgage, on the other hand, will change and it’s very important to understand how those changes will affect your monthly payments. When it’s time to adjust, ARMs can increase significantly. Interest rates are tied to benchmark indices like LIBOR and that’s how rate adjustments are determined.

Second mortgages are also available to Arizona homeowners. The options include variable rate lines of credit and loans with fixed rates.

Restructuring an existing Arizona mortgage

As a homeowner, you can tap into your home’s equity when you need to consolidate your debt or need a lump sum of cash. You build equity when the value of your home increases and/or as the balance of your mortgage decreases. Having equity may also put refinancing into a loan with a lower mortgage payment within your reach. Borrowers typically refinance to get a lower interest rate, to obtain a longer loan maturity, or both.

Evaluating mortgage options in Arizona

When getting an Arizona mortgage, it’s important to shop around. But before you start, do some homework. Find out what interest rates are doing. Plug some numbers into the mortgage calculators and amortization tables at to get a better understanding of the way different mortgages are structured. Then when you’re ready, access our Arizona broker directory and start contacting Arizona brokers so you can turn in some applications.

Here are two important points to keep in mind as you evaluate different lender’s offers:

  • A lender’s advertised rates are low because that’s how they get you in the door. Unless you have an excellent credit score, you’ll likely be offered a rate that’s higher. If you know your credit is poor, take time to evaluate the different loan products. Also evaluate the way Arizona rates differ based on a borrower’s credit score.
  • The more you know about the home mortgage process, the less chance there is of agreeing to terms that aren’t beneficial.

Whether you’re planning to retire in Sedona or want to refinance your spacious Phoenix condo, it all starts with an Arizona mortgage.

Popular Areas in Arizona

Apache County
Lake Havasu City
Sierra Vista