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Mortgage Calculator /With Taxes and PMI /Arizona

Arizona Mortgage Calculator

Set to Arizona’s own property tax rate of 0.43% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($85,200)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$2,449
Monthly payment
$2,172
Principal & interest
$153
Taxes
$124
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $340,800 Interest paid $441,138
20262056
Total of 360 payments$881,628
Principal$340,800
Interest$441,138
Taxes$54,960
Insurance$44,730
HOA fees$0
P&I 88.7% Taxes 6.2% Insurance 5.1%
15- vs 30-year term at 6.58%
15-year
$2,984/mo P&I
$196,274 total interest
30-year · current
$2,172/mo P&I
$441,138 total interest
The 15-year term saves $244,864 in interest. Which term is right for you?

What these numbers come from

Median home value
$426,000
Median tax bill
$1,828
Effective tax rate
0.43%
Rank of 51
48th highest

Arizona taxes property at about 0.43% of value against 0.89% nationally. On a $426,000 home that is $163 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Arizona home prices

20% down, 30-year fixed at 6.58%, with Arizona property tax of 0.43% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$256,000 $204,800 $1,305 $92 $1,472
$341,000 $272,800 $1,739 $122 $1,960
$426,000 median $340,800 $2,172 $153 $2,449
$533,000 $426,400 $2,718 $191 $3,064
$639,000 $511,200 $3,258 $229 $3,673

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Arizona taxes alone add $153 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $303 $1,869 $277 $340,497
Sep $305 $1,867 $277 $340,192
Oct $307 $1,865 $277 $339,885
Nov $308 $1,864 $277 $339,577
Dec $310 $1,862 $277 $339,267
2026 $1,533 $9,327 $1,385 $339,267
Jan $312 $1,860 $277 $338,955
Feb $313 $1,859 $277 $338,641
Mar $315 $1,857 $277 $338,326
Apr $317 $1,855 $277 $338,009
May $319 $1,853 $277 $337,691
Jun $320 $1,852 $277 $337,370

Refinancing in Arizona

Arizona is unusually cheap to refinance in: the state constitution bars any real estate transfer tax, so you pay flat county recording fees rather than a percentage of the loan. That lowers closing costs against most states and pulls the break-even date noticeably closer.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Arizona home loans in detail

Arizona Mortgage Overview

Arizona ranks 6th in land measurements in the United States and is the 14th most populated state. Today there are more than 7 million people that live in the home of the Grand Canyon, enjoying its incredible beauty and beautiful weather.

If living amongst the beauty of the Grand Canyon interests you, there are many loan options to help you:

Arizona conventional loans

If you have great credit (660+), low debt-to-income ratios, and at least 3.5 percent to put down, a conventional loan offers the lowest rates and best terms. Conventional loans require PMI until you owe less than 80 percent of the home's value, but then you can cancel it.

Arizona FHA loans

FHA loans have the most flexible guidelines and are great for first-time homebuyers. With a 580+ credit score, you need just a 3.5 percent down payment and average debt ratio. FHA loans also allow credit scores as low as 500, but with a 10 percent down payment. They allow 'negative credit' in the past, and allow compensating factors to make up for any negative issues.

Arizona VA loans

Veterans of the military have a great program available. The VA loan offers 100 percent financing (no down payment), and the most flexible guidelines. As long as you make enough money to support the payment and your current debts, you're on your way to buying your first home with the help of the VA.

Arizona USDA loans

If you prefer rural living and make less than 115% of the area's median income, the USDA loan offers 100 percent financing for borrowers with at least a 640 credit score. You must live in the home as your primary residence and buy a 'reasonable home' for the area.

First-Time Homebuyer Programs in Arizona

Home PLUS Down Payment Assistance

Program

The Home Plus program offers a low-interest 30-year fixed loan and down payment assistance up to 5 percent that you can use for your down payment and/or closing costs. You'll need at least a 640 credit score and max debt-to-income ratio of 45-50 percent to qualify.

Arizona mortgage FAQ

How much is property tax on a home in Arizona?
Arizona homeowners pay an effective property tax rate of about 0.43 percent of home value — the 48th highest of the 50 states and DC. On the state's median home value of $426,000 that works out to roughly $1,832 a year, or $153 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Arizona home?
At $426,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $2,172 a month. Adding Arizona property tax of roughly $153 a month and an estimated $124 of homeowner insurance brings the full payment to around $2,449.
Which types of mortgages are available to Arizona homebuyers?
Arizona homebuyers can pick conventional loans for those with 660 or higher credit and at least 3.5 percent down, FHA loans requiring only a 580 credit score with 3.5 percent down or a 500 score with 10 percent down, VA loans with 100 percent financing for veterans, and USDA loans with zero down for rural buyers earning under 115 percent of the area's median income with a 640 score.
Does Arizona offer down payment assistance for first-time buyers?
Yes. Arizona's Home Plus Down Payment Assistance Program pairs a low-interest 30-year fixed mortgage with assistance of up to 5 percent that you can use for your down payment or closing costs. To qualify you need at least a 640 credit score and a maximum debt-to-income ratio of 45 to 50 percent.
What is the minimum down payment for a house in Arizona?
VA and USDA loans require no down payment for eligible Arizona buyers. FHA loans need 3.5 percent down with a 580 credit score, or 10 percent down if your score is between 500 and 579. Conventional loans call for at least 3.5 percent down along with good credit, and the Home Plus program can cover up to 5 percent of your costs.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.