It is a great time to buy in beautiful, gated Sabino Mountain. Interest rates for conforming, 30 year fixed rate loans are at near the bottom of an all-time low at 5% with 0 points. Conforming loans are those for loans up to 417K. Jumbo loans are less than 6% for loans from 417K – 650K, which is the lowest it has been in the last few years.
Coupled with the tax credit of $6,500 for couples with incomes of less than 220K who have lived in their present residence for 5 out of the last 8 years and who are purchasing a primary residence, this is a great opportunity that goes beyond the 8K credit that is only for first- time home buyers (who have not owned a house in the past 3 years).
If you would like to explore the Tucson housing market, give me a call at 520-918-2410. There are a lot of good housing opportunities out there.