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Tucson

Current Mortgage Rates in Tucson, Arizona

Compare mortgage rates and fees for leading lenders in Tucson, 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 Tucson.

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

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Mortgage Rates in Tucson, AZ as of February 25, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Tucson, AZ Mortgage Rates Compare?

February 25, 2020

The current average rate for a 30 year fixed rate mortgage in Tucson 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
Today's
Tucson, AZ Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Tucson, Arizona?

Below we provide helpful information on the real estate market, home prices and housing affordability in Tucson. Understand how much you need to earn to afford a home in Tucson, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Tucson 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 Tucson is right for you.

The median home value for Tucson, AZ (Pima County) is $216,158

Based on current mortgage rates and a 10% down payment, you need to make $38,903 per year to buy the median priced home in Tucson

With this income, you could qualify for a $194,542 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 Tucson is $901

The median household income for Tucson, AZ (Pima County) is $51,336

Based on this income, you can afford a home valued at approximately $285,240

The home price you can afford to buy based on household income in Tucson is 132% of the median home value which means housing prices are average. Tucson (Pima County) ranks 11 out of 15 counties in Arizona and 2,756 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Tucson, AZ is average

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Loan Limits for Tucson, Arizona

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

Conforming loan limits for Tucson, AZ

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Tucson, AZ

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

VA loan limits for Tucson, AZ

1 unit: $510,400

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