Free mortgage payment calculator tailored for Arizona (AZ). Calculate instantly with state-specific rates and rules.
The median home value in Arizona is $320,000. Phoenix metro saw among the largest gains in the US 2020-2022, up 50%+, followed by a 2023 correction. Values have stabilized around 2022 peaks.
The conforming loan limit is $726,200. Most Arizona counties are at the standard conforming limit. Scottsdale and parts of Maricopa County approach this ceiling. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.
At the median home value of $320,000 with a 20% down payment ($64,000), you'd borrow $256,000. At 7% for 30 years, principal and interest runs approximately $1,703/month. Add property taxes (~$165/mo) and insurance (~$150/mo) for a total PITI estimate.
Budget for Arizona's effective property tax rate of 0.62% (avg. bill: $1,648/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.
First-time buyers in Arizona should budget for closing costs of approximately $2,600. Arizona imposes no mortgage recording tax. Title insurance and escrow fees are the primary closing cost components.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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