Current Mortgage Rates in Prescott, Arizona

Compare mortgage rates and fees for leading lenders in Prescott, AZ. 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 lender offering the best 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.

Mortgage Rates in Prescott, AZ as of September 20, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Prescott, AZ Mortgage Rates Compare?

September 20, 2020

The current average rate for a 30 year fixed rate mortgage in Prescott is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

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 $319,204

Based on current mortgage rates and a 10% down payment, you need to make $57,448 per year to buy the median priced home in Prescott

With this income, you could qualify for a $287,283 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 $1,330

The median household income for Prescott, AZ (Yavapai County) is $50,896

Based on this income, you can afford a home valued at approximately $282,796

The home price you can afford to buy based on household income in Prescott is 89% of the median home value which means housing prices are expensive. Prescott (Yavapai County) ranks 15 out of 15 counties in Arizona and 3,051 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 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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Prescott, AZ

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Prescott, AZ

1 unit: $510,400

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