The next step is hunting down the best mortgage for that Phoenix home for purchasing or refinancing. An excellent starting point is here: simply give us an idea of the type of loan you want. You will receive bids from multiple Phoenix lenders that will compete to provide a loan at the lowest rate, matching you with nearly 171 Phoenix mortgage lenders. Your mortgage may be for a new home, refinancing or perhaps a home equity loan - in any case, the best way to start is to see what everybody offers.

How much of a Mortgage?

Mortgage affordability is important to the bank, but crucial for you. As of 2005, the average Phoenix mortgage payment was $1,198 which will give you an idea of what you can expect even with historically low rates. Our mortgage calculator will help you plug in the critical components so that you can determine how large a home loan is reasonable for your Phoenix home.

Phoenix is a major city in Arizona with no shortage of reputable mortgage lending institutions. These include financial houses working with us such as: USA Mortgage Corp, Surefast Mortgage, Maricopa Mortgage, LLC, Trimark Capital, Inc..Alpine Lending LLc & Alpine Affiliates Company.Ameriquest Mortgage Company.Maricopa Mortgage.Lion's Gate Mortgage.American Mortgage Specialists.Freestand Financial Holding Corporation.

Phoenix Mortgage & Real Estate Market

In 2006 Phoenix housing sales were at an all time high; down recently but leveling off. As of 2005, the median home value in Phoenix was $184,300. This number is big in comparison to the median home value back in 2000 of $112,600. Phoenix has a solid home ownership base with 556,038 houses and apartments and 54% of those are occupied by their owners. Despite the current market, historically Phoenix has been a city where people move, buy and stay - with 64% of homeowners currently paying off a mortgage. About 19% of the city's current homeowners are carrying a second mortgage or home equity loan.

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Housing	Phoenix, AZ	United States
Median Home Cost	$347,000	$217,200
Homes Owned	57.28%	64.07%
Homes Rented	36.80%	21.45%
Home Appreciation	52.30%	9.80%

Location	Population	Median Family Income (2005)
Apache Junction	31,814	$33,170
Avondale	35,883	$49,153
Bullhead City	33,769	$30,221
Casas Adobes	54,011	$49,736
Catalina Foothills	53,794	$65,657
Chandler	176,581	$58,416

Category	Value
2nd Mortgage or Home Equity	19%
First Mortgage Only	64%
Home Equity Loan Only	9%
Homes With No Mortgage	17%
Second Mortgage Only	10%

Mortgage Type	Today	Last Week	Change
30 yr fixed	6.03	6.24	0.035%
15 yr fixed	5.47	5.72	0.046%
5/1 ARM	5.34	5.43	0.017%
3/1 ARM	5.48	5.42	0.011%

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