Monthly Payment on a $750K Mortgage in Arizona
Using Arizona's 0.62% property tax rate and $2,100/yr homeowners insurance.
$750K 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% | $5,024 | $4,789 | $3,969 |
| 6.0% | $5,250 | $5,003 | $4,160 |
| 6.5% | $5,482 | $5,223 | $4,355 |
| 7.0% | $5,718 | $5,447 | $4,554 |
| 7.5% | $5,960 | $5,676 | $4,758 |
| 8.0% | $6,206 | $5,909 | $4,965 |
How This Compares to Arizona's Median
A $750K home is 97% above Arizona's median of $380K. This puts you in the upper range of the Arizona market, targeting more desirable neighborhoods or larger properties.
Income Needed for a $750K Home in Arizona
To afford this payment of $5,223/mo in Arizona, you'd need a household income of approximately $224K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $200K salary can afford →Closing Costs in Arizona
Estimated closing costs in Arizona: $12K (1.6% of purchase price). Arizona has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $750K Mortgage in Arizona
With 10% down ($75,000), your loan of $675,000 at 6.5% over 30 years produces a principal and interest payment of $4,266/mo. Adding Arizona's 0.62% property tax ($388/mo) and $2,100/yr insurance ($175/mo) brings your total to $5,223/mo. Because you're putting less than 20% down, PMI adds $394/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $860,925 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $80,760 over the life of the loan.