Typical Arizona mortgage payment
The median home price in Arizona is roughly $430,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $3,400 | $2,308 |
| 5.50% | $3,513 | $2,441 |
| 6.00% | $3,629 | $2,578 |
| 6.50% | $3,746 | $2,718 |
| 7.00% | $3,865 | $2,861 |
| 7.50% | $3,986 | $3,007 |
| 8.00% | $4,109 | $3,155 |
At 6.50% over 30 years, a $430,000 home in Arizona costs about $2,718/month in principal & interest.
What affects your Arizona payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.