Ability Realty

With the statistics that I am reporting, I am still very optimistic about the real estate market in Tucson. The most important thing you should look at is the interest rates. They are still very low and there are many programs that your lender can show you. I would stay away from adjustable rate mortgages (also known as ARM). I expect to see many foreclosures in the next year due to the ARM’s. If you have a good job, good credit, but not much money for a down payment, look into an 80/20 (two loans totaling 100% financing) where you can get into the home with just closing costs. The 80/20 allows you to avoid the Private Mortgage Insurance (PMI) which helps pay that 20% second loan which will be a slightly higher interest than the 80% loan.

You will have a better selection of homes now as the supply increases.

If you need a great loan representative call Elaine DeTour with Home 123 at 790-6000 and tell her that Barry sent you!