Maybe you've been thinking about buying a second home or vacation home in Tucson,
Arizona. The Tucson community offers remarkable potential for second homes. It's a beautiful city with access to golf, shopping, restaurants, and entertainment.

However, finding a loan for a second home can be difficult because it stretches the finances of the owner past a level that's comfortable for many lending institutions.  There are loans available for second homes, but all too often these loans require the buyer to pay higher interest rates or origination points. Fortunately, there are some options for second home
loans.

Increased Down Payment
Typically, second home buyers are more affluent than first time buyers.  As a result, they may have more readily disposable money in savings to use as a down payment.  With a higher
down payment, lenders are likely to find other mortgage packages that reduce the overall
interest on the loan.

Home Equity Loan
Home equity loans: loans taken on your primary property are one way to pursue a purchase of a second home.  You may pay slightly higher than average interest, perhaps a point or more.
Home equity loans aren't always the best bet because you are using your primary residence
as collateral. Be careful not to get overextended with the loan and endanger your first property.

Traditional Mortgages
If you don't have the option of a larger down payment and aren't interested in a home equity loan, there are still some options available to you. It may take a little creativity on the part of
the loan officer, but there are some excellent mortgage programs available to buyers of second homes. Before you start the process of shopping for a second home, find a creative mortgage agent that can help you put together the best loan package.  Most agents can prequalify you for a second loan, so you know of any potential problems before you encounter them.

You'll find some amazing homes available in Tucson. A Tucson home will allow you to spend some time relaxing in the sun, and possibly pay for itself in rental income.  With a little research and creativity, you could own your home in no time.