Monthly Payment on a $100K Mortgage in Arizona
Using Arizona's 0.62% property tax rate and $2,100/yr homeowners insurance.
$100K Mortgage in Arizona: Rate Comparison
Monthly PITI payment using Arizona's 0.62% property tax and $2,100/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $821 | $790 | $681 |
| 6.0% | $852 | $819 | $706 |
| 6.5% | $883 | $848 | $732 |
| 7.0% | $914 | $878 | $759 |
| 7.5% | $946 | $908 | $786 |
| 8.0% | $979 | $940 | $814 |
How This Compares to Arizona's Median
A $100K home is 74% below Arizona's median of $380K. This is well within reach in many Arizona communities.
Income Needed for a $100K Home in Arizona
To afford this payment of $848/mo in Arizona, you'd need a household income of approximately $36K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $40K salary can afford →Closing Costs in Arizona
Estimated closing costs in Arizona: $2K (1.6% of purchase price). Arizona has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $100K Mortgage in Arizona
With 10% down ($10,000), your loan of $90,000 at 6.5% over 30 years produces a principal and interest payment of $569/mo. Adding Arizona's 0.62% property tax ($52/mo) and $2,100/yr insurance ($175/mo) brings your total to $848/mo. Because you're putting less than 20% down, PMI adds $53/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $114,790 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $10,768 over the life of the loan.