If you're considering buying a home in the Grand Canyon State, you're far from alone. Arizona has 3.08 million housing units and a homeownership rate of 68.7%, according to the U.S. Census Bureau.

Pay your bills in full and on time each month, look for any errors on your credit report and avoid applying for other loans or credit cards too close to your mortgage or refinance application.

When people talk about mortgage rates, they're typically referring to national averages. But if you're getting ready to buy or refinance a home, these averages aren't always super useful.