Monthly Payment on a $250K Mortgage in Arizona
Using Arizona's 0.62% property tax rate and $2,100/yr homeowners insurance.
$250K 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% | $1,791 | $1,713 | $1,440 |
| 6.0% | $1,867 | $1,784 | $1,503 |
| 6.5% | $1,944 | $1,858 | $1,568 |
| 7.0% | $2,023 | $1,932 | $1,635 |
| 7.5% | $2,103 | $2,009 | $1,703 |
| 8.0% | $2,185 | $2,086 | $1,772 |
How This Compares to Arizona's Median
A $250K home is 34% below Arizona's median of $380K. You'll find homes at this price in cities like San Luis.
Income Needed for a $250K Home in Arizona
To afford this payment of $1,858/mo in Arizona, you'd need a household income of approximately $80K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $80K salary can afford →Closing Costs in Arizona
Estimated closing costs in Arizona: $4K (1.6% of purchase price). Arizona has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $250K Mortgage in Arizona
With 10% down ($25,000), your loan of $225,000 at 6.5% over 30 years produces a principal and interest payment of $1,422/mo. Adding Arizona's 0.62% property tax ($129/mo) and $2,100/yr insurance ($175/mo) brings your total to $1,858/mo. Because you're putting less than 20% down, PMI adds $131/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $286,975 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $26,920 over the life of the loan.