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.
September 30, 2023
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
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
FHA loan limits for Prescott, AZ
VA loan limits for Prescott, AZ