Arizona jumbo loans allow homebuyers in Arizona to buy a home over conforming limits with a single loan.
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It may look like one big desert to outsiders, but Arizonans know just how much this sunny state has to offer. With a lush and diverse landscape, Arizona has everything from ski slopes to big cities like Phoenix and Scottsdale to summer hiking. It is also home to one of the most famous natural wonders in the US and the world with the always stunning Grand Canyon.
With so much to offer, it’s no wonder that the Arizona real estate market is growing at a stunning rate. According to Zillow, the home values in Arizona have grown by 28.5% in the last year and this figure continues to climb. According to the Tucson Realtors Association, the average sales price of a home in Arizona is just over $477,000. While that number is well below the jumbo loan limit in Alabama, the state still has plenty of jumbo mortgage activity.
For the most recent year, the HDMA data places Arizona 8th in the country in terms of mortgage origination activity, with a total of $14.8 billion in jumbo mortgages originated. If you’re looking for a jumbo mortgage in Arizona, you’ll be among good company.
The jumbo loan limit in Arizona is $726,200 for all counties in the state. Any loan that exceeds $726,200 is a jumbo loan in the state of Arizona. Any loan that is less than $726,200 is a conforming loan in the state of Arizona.
| Arizona County | Arizona Jumbo loan (1-unit) | Arizona Conforming loan limit (1-unit) | Arizona FHA loan limit (1-unit) |
|---|---|---|---|
| Apache | $726,200+ | $726,200 | $420,680 |
| Cochise | $726,200+ | $726,200 | $420,680 |
| Coconino | $726,200+ | $726,200 | $423,200 |
| Gila | $726,200+ | $726,200 | $420,680 |
| Graham | $726,200+ | $726,200 | $420,680 |
| Greenlee | $726,200+ | $726,200 | $420,680 |
| La Paz | $726,200+ | $726,200 | $420,680 |
| Maricopa | $726,200+ | $726,200 | $441,600 |
| Mohave | $726,200+ | $726,200 | $420,680 |
| Navajo | $726,200+ | $726,200 | $420,680 |
| Pima | $726,200+ | $726,200 | $420,680 |
| Pinal | $726,200+ | $726,200 | $441,600 |
| Santa Cruz | $726,200+ | $726,200 | $420,680 |
| Yavapai | $726,200+ | $726,200 | $420,680 |
| Yuma | $726,200+ | $726,200 | $420,680 |
If you’re in the market for a home in Arizona, consider these jumbo mortgage loans that are available to state residents.
Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among borrowers throughout the country. One of their key financial products is a jumbo home loan.
We contacted Keybank to learn more about their jumbo loan process and here are the key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.
We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Due to the rising cost of housing in Arizona, it can be hard and even discouraging to think about how to afford a new home. Fortunately, Jumbo loans in Arizona are here to help you afford the perfect home for you. So, what kinds of benefits do these tools provide?
Getting a jumbo loan means more money in your wallet, which means more peace of mind and greater flexibility. This type of loan has no upper mortgage limit when compared to most other types of financing. Jumbo loans can get you approved for larger loans than what are offered by other common loan types.
Jumbo loans come with the benefits of more flexible down payments and down payments less than 20% for some. What works for you might be just what you need. Instead of feeling boxed in to a high down payment that can take a long time to save for, a jumbo loan in Arizona lets you purchase your dream home sooner before prices climb higher.
The jumbo loan is great for those looking to buy more expensive homes. One of the perks of the jumbo loan is that it enables people to buy homes that might not be affordable with other financial options. With more funding and mortgage options, it is possible to purchase a larger home and realize your dream sooner than later.
How is a jumbo loan different from a conventional mortgage? You already know about their higher limits. With a conventional or conforming loan, you would need to combine multiple loans to reach the same price you would with a jumbo loan. This means putting a lot of new accounts on your credit and can make for a very complex financial picture.
Another difference is that jumbo loans sometimes require that you have a better credit score than you might need with a conforming loan. (Some government-backed conventional mortgages will approve borrowers with lower scores.) Jumbo loans can also come with more closing costs, though many borrowers see this as a fair trade for increased purchasing power in the intense Arizona housing market.
If you want to find the best jumbo loans in other states, click on your state below.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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