Compare Current Prescott, Arizona Mortgage Rates

Compare Prescott, AZ mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Prescott.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Prescott. Plus, shopping lenders is free and there is no obligation.

Prescott, AZ Mortgage Rates as of May 22, 2024
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Prescott, AZ Mortgage Rates

May 22, 2024

Current mortgage rates in Prescott, AZ are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Prescott, AZ Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Prescott, Arizona?

Below we provide helpful information on the real estate market, home prices and housing affordability in Prescott. Understand how much you need to earn to afford a home in Prescott, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Prescott fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Prescott is right for you.

The median home value for Prescott, AZ (Yavapai County) is $408,947

Based on current mortgage rates and a 10% down payment, you need to make $85,313 per year to buy the median priced home in Prescott

With this income, you could qualify for a $368,052 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Prescott is $1,976

The median household income for Prescott, AZ (Yavapai County) is $58,066

Based on this income, you can afford a home valued at approximately $278,337

The home price you can afford to buy based on household income in Prescott is 68% of the median home value which means housing prices are very expensive. Prescott (Yavapai County) ranks 15 out of 15 counties in Arizona and 3,074 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Prescott, AZ is very expensive


Loan Limits for Prescott, Arizona

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Prescott (Yavapai County) below.

Conforming loan limits for Prescott, AZ

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Prescott, AZ

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Prescott, AZ

1 unit: $726,200

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