Arizona Mortgage Calculator
Calculate your Arizona mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Phoenix, Tucson, Mesa, Chandler, Scottsdale, and all of Arizona.
Useful for home buyers in Phoenix, Tucson, Mesa, Chandler, Scottsdale, and all of Arizona.
Why use an Arizona Mortgage Calculator?
Arizona has a property tax rate below the US average. This calculator estimates your payment, PMI, property tax, and closing costs.
Arizona has a property tax rate below the US average. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
Enter your details to see the estimated payment here.
Related Calculators
Arizona Property Tax: The average effective property tax rate is about 0.66%. Closing costs in AZ are typically 2-5% of the purchase price.
Average Home Prices in Major Arizona Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Phoenix | $500,000 | $400,000 | $350,000 | $300,000 |
| Tucson | $350,000 | $300,000 | $250,000 | $200,000 |
| Mesa | $400,000 | $350,000 | $300,000 | $250,000 |
| Chandler | $450,000 | $400,000 | $350,000 | $300,000 |
| Scottsdale | $700,000 | $600,000 | $500,000 | $400,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in Arizona
- Property Tax: Arizona's average effective property tax rate is about 0.66%. Property taxes are paid annually and may be included in your monthly payment.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: Arizona's closing costs include title insurance, escrow fees, and other expenses.
Example: On a $400,000 home with 10% down in Phoenix, you pay PMI and property tax. Closing costs are typically 2-5% of the purchase price.
Frequently Asked Questions
Yes, Arizona has a property tax. The average effective rate is about 0.66% of the assessed value. Property taxes are paid annually.
PMI (Private Mortgage Insurance) is required when your down payment is less than 20%. It protects the lender and is added to your monthly payment until you reach 20% equity.
Closing costs in Arizona are typically 2-5% of the purchase price and include title insurance, escrow fees, and other expenses.