Current Arizona Mortgage and Refinance Rates
Mortgage interest rates currently average 6.03% for 30-year fixed loans and 5.13% for 15-year fixed loans.
Refinance rates in Arizona
30-year FIXED
Current refinance rates are averaging:
6.39%
15-year FIXED
Current refinance rates are averaging:
5.87%
Here’s a quick overview of your home refinance options, each with its own features and typical rates.
- Rate-and-term refinances allow you to change either your interest rate or loan term, or even both. Adding time to your loan term or lowering your interest rate will lower your monthly mortgage payment. Refinance rates will usually be a little higher than purchase mortgage rates.
- Cash-out refinances let you replace your current loan with a new mortgage and, at the same time, borrow cash secured by your home equity. They usually come with higher rates than regular refinances.
- Conventional refinances don’t belong to any government refinance loan programs. They generally have higher rates than government-backed refinances.
- FHA refinances are backed by the Federal Housing Administration (FHA), and can be more accessible — that is, easier to qualify for — than conventional loans. Their rates are often lower than conventional refinance rates, and in the current Arizona mortgage rates environment may be more than half a percentage point lower.
- VA refinances are backed by the U.S. Department of Veterans Affairs (VA) and come with some of the most flexible VA loan requirements and lowest rates available. However, you will need to be a qualified military borrower to be eligible.
See whether refinancing makes sense for you using our mortgage refinance calculator.
What is the current mortgage rates forecast?
The current mortgage rates forecast is for rates to remain around 6.0% in early 2026 after three rate cuts by the Federal Reserve in late 2025.
That said, the market is ever-changing and beyond your control. To help you get the best mortgage rates possible, look at how mortgage rates are determined and which of these factors are within your power to change.
How do I get the best mortgage rate for my Arizona home loan?
Here are a few steps you can take to get the best mortgage rate:
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Boost your credit
Your credit score is often the biggest factor influencing which mortgage rates you can access. Generally, those with higher scores get offered the better rates. -
Lower your debt-to-income (DTI) ratio
Lenders use your DTI ratio to consider how manageable your current debt load is. To lower your DTI, you can increase your income or pay off some debts. Likewise, a cosigner can help offset a high DTI. -
Buy a single-family, site-built home
Mortgages tend to have higher rates for manufactured homes, vacation homes, investment properties, or properties with more than one unit. -
Pay mortgage points
With mortgage points, you can “buy down” your interest rate, typically lowering it by up to 0.25% per point. Points are basically an upfront interest payment, and if you can afford them, then you can potentially save money in the long run. -
Compare offers from multiple lenders
Gather rate estimates from three to five lenders might seem like a hassle, but the savings can be worth it. Shopping around for the best rate can save you thousands — or even tens of thousands — over the life of your loan, according to LendingTree data.
Read more about our picks for the best mortgage lenders.
After you’ve applied for a mortgage and gotten a loan estimate with an offer you want to accept, you should ask the lender to give you a mortgage rate lock. This makes sure your interest rate won’t increase before you get to the closing table.
Arizona home loan programs
Home in Five Advantage
The Home in Five Advantage program offers down payment assistance up to 6% for a 30-year mortgage, as well as help with closing costs. The loan can be an FHA, VA or conventional loan and should come with a competitive interest rate.
Who qualifies
Borrowers must:
- Have a credit score of at least 640
- Have annual income of $138,600 or less
- Take a homebuyer education course
- Purchase in Maricopa County
City of Tucson Down Payment Assistance
The City of Tucson provides down payment assistance up to 20% for borrowers in all of Pima County, excluding tribal lands.
Who qualifies
Borrowers must:
- Earn no more than 80% of the Area Median Income (AMI), which ranges from $45,500 to $85,750, depending on family size
- Pay 35% or less of your monthly income for rent or other housing debt, and 45% or less of your income on all debt payments
- Have at least two month’s worth of mortgage payments saved
- Contribute at least $1,000 of their own money towards the home purchase
Pathway to Purchase
The Pathway to Purchase program helps borrowers purchase homes in 17 Arizona cities by providing up to $20,000 in down payment assistance.
Who qualifies
Borrowers must:
- Not currently own another home
- Have at least a 640 credit score
- Meet conventional loan requirements
- Purchase a home for $371,936 or less
- Complete and obtain certification for a homebuyer education course
- Receive home inspection
Arizona first-time homebuyer programs
Arizona has several first-time homebuyer programs, including ones for down payment assistance programs and help with covering closing costs.
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Home Plus
- Down payment assistance of up to 5%
- Funds may also be used towards closing costs
- May be used anywhere in the state of Arizona
- Complete a homebuyer education course (must be done by at least one borrower)
- The program is also available to borrowers who aren’t first-time homebuyers, but with some restrictions
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The Open Doors Down Payment Assistance Program
- Down payment assistance of up to $15,000
- Funds may also be used towards closing costs
- May only be used in Phoenix
Get more details about each program at our list of Arizona first-time homebuyer programs page.
Who qualifies as a first-time homebuyer
- People who have never owned a home
- People who haven’t owned real estate in the last three years
Learn about different types of AZ mortgage loans
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Arizona conventional loans
A conventional loan is the industry standard, and it can be a solid choice for those with good credit and sufficient funds for their down payment. Conventional loans typically share certain minimum requirements set by Fannie Mae and Freddie Mac. -
Arizona FHA loans
FHA loan requirements are generally much easier to meet than those for a conventional loan. You might qualify with a credit score as low as 500 so long as you make a 10% down payment. And if you have at least a 580 credit score and would rather make a smaller down payment, you may be able to put down as little as 3.5%. -
Arizona VA loans
VA loan requirements come with much flexibility and value for borrowers with a military background. These loans also include some great perks, like the ability to purchase or refinance without making a down payment or paying for mortgage insurance. -
Arizona streamline refinances
may be available for an FHA streamline refinance loan or VA interest rate reduction refinance loan (IRRRL). These loans will require less paperwork and less hassle than other refinance types. However, you’ll need to refinance from one FHA or VA loan into another FHA or VA loan in order to take advantage of these options.