How accurate is this Arizona mortgage calculator?

It uses standard amortization math (the same formula every lender uses) plus Arizona-specific defaults: 0.6% effective property tax, 0.35% annual insurance, and 0.8% annual PMI when down payment is below 20%. Your actual rate, taxes, and insurance will vary — but the estimate gets you within a few dollars of reality.

What is included in my monthly payment?

The calculator shows principal & interest, property taxes, homeowners insurance, PMI (if down payment is under 20%), and any HOA fees you enter. Together these are called PITI — or PITIA when HOA is included.

Why does Arizona property tax show as 0.6%?

Arizona has one of the lowest effective property tax rates in the country. The statewide average is about 0.6% of assessed value annually — substantially lower than the U.S. average of around 1.1%. Your actual rate varies by county and city.

How is PMI calculated?

Private mortgage insurance is required when your down payment is less than 20%. The calculator uses 0.8% of your loan amount annually, which is a typical mid-range rate. Actual PMI varies by credit score, loan-to-value, and the specific lender — Logan can quote your real PMI on a pre-approval call.

Can I drop PMI later?

Yes. On a conventional loan, you can request PMI removal once you hit 20% equity (either by paying down or by appreciation with a new appraisal). It drops automatically at 22% equity by federal law. FHA loans have different rules — MIP is typically permanent unless you refinance.

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Arizona Mortgage Calculator

Estimate your monthly payment in seconds. Includes Arizona property taxes, homeowners insurance, PMI, and HOA — so the number you see is the number you'd actually pay.

Your numbers

Home price $500,000

Down payment 20% · $100,000

Interest rate 7.00%

Loan term 30-year fixed

Loan type Conventional

Property tax (annual %) 0.60%

Arizona average is 0.6%. Adjust for your county.

Homeowners insurance (annual) $1,750

HOA (monthly) $0

Many Scottsdale and Chandler communities run $150–$600/mo.

Estimated monthly payment

$2,996

Principal, interest, taxes, insurance · 30 yr

Principal & Interest $2,661

Property Taxes $250

Homeowners Insurance $146

Total monthly $2,996

Lock in this payment — Get pre-approved Or call Logan: (480) 803-7763

Loan summary

Interest cost across the life of the loan.

Loan amount

$400,000

Total interest paid

$558,036

Total cost (P&I)

$958,036

Year	Principal	Interest	Total Paid	Remaining Balance

Compare scenarios

How down payment changes everything

Same home, same rate, three different down-payment strategies. The math doesn't lie.

5% Down

$3,418

$25,000 down · Includes PMI · Lowest cash to close

20% Down

$2,996

$100,000 down · No PMI · Strongest offer position

25% Down

$2,829

$125,000 down · No PMI · Most cash committed

How this calculator works

Built on the same math your lender uses.

Every mortgage calculator on the internet uses the same formula: M = P[r(1+r)^n] / [(1+r)^n − 1]. The difference is whether the defaults match the state you're buying in.

This calculator uses Arizona-specific defaults: 0.6% effective property tax (vs. the national 1.1%), 0.35% annual homeowners insurance, and 0.8% annual PMI when down payment is below 20%. Adjust any of them — your actual numbers from the title company and insurance carrier will be close, but Logan can quote real numbers on a pre-approval call.

Frequently asked questions

It uses the standard amortization formula every lender uses. The estimate is within a few dollars of reality on principal & interest. The escrow components — taxes, insurance, PMI — are estimates based on Arizona averages. Your actual escrow amounts come from the title company quote (taxes) and your chosen insurance carrier. Logan can give you real, lender-quoted numbers on a 15-minute pre-approval call.

PITI = Principal, Interest, Taxes, Insurance — the four pieces of a typical monthly mortgage payment. PITIA adds the "A" for HOA fees, which lenders include in your debt-to-income calculation even though HOAs aren't escrowed by the lender. The total monthly number above shows PITIA when you've entered an HOA amount.

Conventional loans require Private Mortgage Insurance (PMI) when your down payment is below 20% — that's the lender's protection if you default before you have meaningful equity. The calculator adds PMI at 0.8% of the loan amount annually whenever your down payment is below 20%. FHA loans use a different system called MIP, which is typically permanent unless you refinance. VA loans don't have monthly PMI — just a one-time funding fee at close.

Arizona's effective property tax rate averages around 0.6% statewide — well below the national average of 1.1%. The exact rate varies by county, city, and school district, but most Maricopa County buyers see effective rates between 0.55% and 0.75%. If you're moving from California, Texas, Illinois, or New Jersey, your tax bill will likely be a pleasant surprise.

Use the comparison cards above to see how different down payments change your monthly. The bigger question is what you do with the cash you'd save by putting less down — if you'd invest it for higher return, less down can be the smarter move. If you'd just hold it in checking, more down saves you on PMI and interest. Logan walks through this trade-off on every pre-approval call with your actual numbers.

Use a rate within 0.25% of current 30-year national averages, which you can check at any major lender's homepage. Your actual rate depends on credit score, loan-to-value, loan type, and lender — Logan can quote your real rate same-day after a quick credit pull during the pre-approval.

Yes — enter your current home value and your existing loan balance as the "down payment" equivalent (so the loan amount lands at your new principal). For a true refinance breakeven (does it make sense to refi?), call Logan and we'll run it with closing costs included.

From estimate to actual rate in one call.

Same-day pre-approval. No bots. No hand-offs. Just clear numbers from a real human lender.

Get Pre-Approved Call (480) 803-7763

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