3 Common Mistakes That First-time Mortgage Borrowers Make and How to Easily Avoid Them

Deciding to purchase a home will be one of the biggest investment decisions you’ll make in your life, but it can be confusing for the first-time home buyer to know all the ins and outs of buying a home. If you’re wondering what things first-time buyers often forget about before purchasing a home, here are three important things that you’ll want to keep in mind.

Ignoring Their Credit History

If you have a high debt load or you haven’t been making your minimum payments, it can be pretty frightening to consider looking at your credit report, but it’s very important to do this before applying for a mortgage. A lender will be taking a look at your credit history and reviewing it carefully before approving your application, so it’s important for you to be aware of what your credit history says about you and how it might impact your mortgage.

Buying Too Much Home

It’s easier than you might think to be swayed into purchasing your dream home, but it’s necessary to keep a cool head and make an informed decision so that your home investment can be financially beneficial for you. The amount you should be paying for a home on a monthly basis will leave you with enough that you can pay for the necessities, any existing debts and any extras while still having wiggle room in case of emergency. While you may want to spend a little more, this can end up being a mistake if things don’t go as planned.

Forgetting The Documentation

This may be among the easiest of steps, but not having the appropriate documentation can push back your home purchase, so ensure you have all the necessary paperwork for when you need it. Beyond the Verification of Rent you’ll need from your previous landlord, it’s also important to make sure that you have liquid assets not just investments and RRSPs as this will prove to the lender that you can handle a financial hurdle in the event that it arises.

There are so many things involved in obtaining a mortgage that it can be easy to forget some very important aspects of approval. By being aware of your credit history and keeping your payment price within your means, you’ll be well on your way to a sound purchase. If you’re currently looking to purchase a home, give me a call to get started on the right path – J.P. Cook – 602-320-4253.

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5028 N Scottsdale Road Paradise Valley, AZ 85253

$1,399,000

3 Beds

2 Baths

2,388 SqFt

Status Active

MLS # 6696525

Property Type Single Family Residence

Price Type --

Prime Paradise Valley Location in Camelback Park Estates minutes from Scottsdale Fashion Square Mall. NEW TRANE AC! NO HOA! Enter through the front courtyard. Single level 3 bed 2 bath home w/ an office, a pool & a 2 car garage. Remodeled in 2019. Wood laminate flooring throughout. Chef's Kitchen is modern & includes white cabinets, stainless steel appliances, quartz counters, farm sink, gas range & walk-in pantry. Bar stool seating & a second dining area. Primary suite is over-sized w/ an exit to the backyard, walk-in closet & a marble bathroom w/ a shower, free standing tub & dual sinks. All bedrooms have an exit to the low maintenance resort style backyard that features pool w/ rock water feature, paver patio, outdoor kitchen/BBQ & an observation deck that overlooks Scottsdal NEWER Roof, New water heater & soft water system

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5216 E Barwick Drive Cave Creek, AZ 85331

$1,399,000

4 Beds

4 Baths

4,354 SqFt

Status Active

MLS # 6743171

Property Type Single Family Residence

Price Type --

Welcome to this stunning semi-custom 4 bedroom, 4 bathroom, plus a casita Toll Brother's home. Located on .35 acres in the highly sought-after gated community Montevista. This beautiful property features 2 primary suites, one on the main floor. It's nestled on a spacious cul-de-sac lot that backs to a wash, with a sparkling pool, and large green space. This home provides plenty of room for outdoor entertaining and the mountain views and desert sunsets are gorgeous. Step inside to discover a meticulously maintained interior with high-end finishes throughout. The open concept floor plan offers a seamless flow from the living room to the gourmet kitchen, complete with granite countertops, stainless steel appliances, and a large island with additional seating; ideal for entertaining. Both primary suites luxurious ensuite bathrooms with dual vanities, a soaking tub, walk-in showers and more. The two additional bedrooms on the main floor open to a beautifully upgraded full bathroom. The casita opens to a partial kitchen, built in shelves and hardwood floors, perfect for guests or a home office. Upstairs is the second spacious primary bedroom that has a separate sitting area, walk-in closet, vanities and two walk out balconies ideal for both sunrises and sunsets. This home sides to a green space which provides the utmost privacy. Enjoy the peaceful surroundings and breathtaking sunsets from the comfort of your own backyard. This home is located close to all the local schools, minutes from Cave Creek, Desert Ridge, Kierland, Scottsdale Quarter, parks and so much more!

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16317 N 108th Place Scottsdale, AZ 85255

$1,399,000

5 Beds

3 Baths

3,896 SqFt

Status Active Under Contract

MLS # 6737702

Property Type Single Family Residence

Price Type --

Wonderful views! Update a fabulous executive home to your tastes. Unbeatable square foot price in both McDowell Mountain Ranch and Scottsdale for a 5BR/3BA. Newer Trane A/C units (2022), solar panels and incredible views add value to this light filled, private home with pool/spa. Easy walk to community center. This model sold for $350000 more in June.

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34813 N 73rd Street Scottsdale, AZ 85266

$1,399,000

3 Beds

3 Baths

2,588 SqFt

Status Active

MLS # 6769529

Property Type Single Family Residence

Price Type --

Nestled within the gated community of North Scottsdale's Enclave on the Eighth, this immaculately maintained home offers 2,588sf of easy, luxurious living featuring a resort level backyard oasis. Built in 2016, this modern home features 3 bedrooms plus a versatile den, 3 baths, and a split floorplan perfectly suited for today's lifestyle. With no interior steps and soaring 12-foot ceilings, the open-concept design seamlessly blends indoor and outdoor living spaces, creating a true sense of expansive comfort and elegance. At the heart of the home, the great room's full wall of windows opens to a stunning outdoor oasis through two sets of expansive bi-folding patio doors, allowing you to transition between indoor and outdoor living with ease. Step into a backyard that rivals a high-end resort, where the dynamic water feature cascades beside a custom stone fire pit with seating designed for gatherings under the stars. A built-in stone BBQ and spacious artificial turf area offer a perfect setup for outdoor entertaining, while the covered patio provides a comfortable retreat for quiet moments of relaxation, all framed by a combination of mountain views and easy-care landscaping. Inside, the open kitchen impresses with a grand center island, offering seating for sixideal for both casual dining and socializing. Top-tier appliances, including a Wolf 5-burner gas cooktop, double Wolf ovens, a Subzero refrigerator, and a Bosch dishwasher, make gourmet meals a breeze. The owner's suite is a true retreat, complete with an oversized walk-in closet and an indulgent dual-head shower, providing a perfect space to unwind after a long day. Beyond the home's luxurious features, the property offers quick golf cart access to the renowned Boulders Golf Course and is just moments away from upscale shopping, dining, and entertainment. This exceptional home is the perfect blend of style, comfort, and location, offering a unique opportunity to experience the best of North Scottsdale living.

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17938 E Vista Desierto -- Rio Verde, AZ 85263

$1,399,000

3 Beds

3.5 Baths

2,946 SqFt

Status Active

MLS # 6678773

Property Type Single Family Residence

Price Type --

Exceptional Golf Course and mountain views offered with the unique Alora model. This 3 bedroom 3 1/2 bath also features an attached casita with a private entrance is a must see. 2 additional ensuites offer full baths with separate entries, no expenses spared in any of the 2 rooms. Casita offers a living/TV room with separate bedroom and full bath. The Open-air concept architecture is ideal for entertaining and dining. Gourmet kitchen with custom cabinets, Monogram appliances, dual ovens, gas cook top, oversized granite kitchen island, featuring ceiling height glass front cabinets. The large laundry and home office has custom cabinets and granite counter tops. Custom window shutters with window shades. Upgraded wood flooring and tile throughout. Central vacuum system, dual HVAC System

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7740 E Gainey Ranch Road Unit 24 Scottsdale, AZ 85258

$1,398,000

2 Beds

2 Baths

1,922 SqFt

Status Active

MLS # 6780323

Property Type Single Family Residence

Price Type --

READY TO MOVE IN SINGLE LEVEL ON GOLF COURSE -THIS 2BD PLUS DEN W VIEWS FACING SW-WALK UP PRIVATE WALKWAY TO NEW GLASS FRONT DOOR-WALK INTO SPACIOUS OPEN FLOOR PLAN -HARDWOOD FLOORS THRU-OUT-LIVING ROOM HAS FIREPLACE & ACCESS OUT TO PVT BACK YARD-PERFECT FOR ENTERTAINING -REMODELED KITCHEN W GRANITE COUNTERS-STAINLESS APPLIANCES,UPDATED CABINETS,BREAKFAST BAR-LOVELY DINING AREA -ANTIQUE CHANDELIER-LARGE MASTER SUITE W PVT SIDE PATIO -MASTER BATH W SEP TUB/WALK IN SHOWER-DOUBLE SINKS W GRANITE COUNTER-LARGE WALK IN CLOSET-OVERSIZED GUEST BEDROOM HAS DOUBLE CLOSETS-UPDATED GUEST BATH W TUB/SHOWER-DEN/OFFICE AREA CAN BE ALSO USED AS BEDROOM-DIRECT ACCESS INTO HOUSE FROM 2CGARAGE-GREAT LOCATION -WALK TO ESTATE CLUB-ENJOY GAINEY AMENITIES-TENNIS,PICKLE BALL,FITNESS CENTER-24 HR GUARD GATEDCOMM

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5250 E Deer Valley Drive Unit 251 Phoenix, AZ 85054

$1,395,745

3 Beds

2.5 Baths

2,177 SqFt

Status Active Under Contract

MLS # 6651544

Property Type Apartment

Price Type --

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35809 N Evermore Madison Street San Tan Valley, AZ 85140

$1,395,000

4 Beds

4 Baths

3,774 SqFt

Status Active

MLS # 6761432

Property Type Single Family Residence

Price Type --

Beautiful custom home with everything you'd want and more in your ''forever home''. Stanley Custom Homes are unique in craftmanship and design. We start with curb appeal, with a stunning black metal roof that sets you apart from every other home, from there we see the beautiful front yard landscape including a tree lined street with beautiful pistachio trees. Your kitchen will include more cabinets than you'll ever use with a focus on an oversized kitchen island. Your laundry room will also have a ton of cabinets along with spacious countertops. The master shower has a separate shower and stand alone tub with tile going from floor to ceiling. I almost forgot to mention the 40x50 detached metal garage we include.

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3329 W Desert Dawn Drive Phoenix, AZ 85083

$1,395,000

4 Beds

5 Baths

3,727 SqFt

Status Active

MLS # 6778745

Property Type Single Family Residence

Price Type --

Seller offering 1% concession towards rate buydown, landscape etc. This soft contemporary home is 100% new construction and is tucked back in a quiet cul-de-sac surrounded by million-dollar homes. Optimally designed for modern living this home has it all. As you enter, you are greeted with soaring ceilings and a great room that is flooded with natural light. Each generously sized bedroom boasts en suite baths and walk-in closets. The open concept kitchen is well appointed with quartz counters, white shaker cabinetry and LG Studio appliances. A large island sits at the center which overlooks the great room, ideal for gathering and entertaining. The primary suite is a true retreat with a spa-like bathroom complete with soaking tub, quartz counters, dual vanities and an oversized shower. The massive primary walk-in closet is situated with access to the laundry. Boasting 4 bedrooms and 5 baths plus a spacious den/flex space and 3-car garage there is ample room for all and for storage. Enjoy mountain views, easy freeway access, close proximity to Lake Pleasant, and numerous options for nearby shopping and dining. There is plenty of space for a pool and an RV gate is ready for your boat, off-road toys or extra vehicle storage. All this with the peace of mind of a quality new built home.

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2100 N Grapevine Drive Payson, AZ 85541

$1,395,000

4 Beds

6 Baths

3,645 SqFt

Status Active Under Contract

MLS # 6774264

Property Type Single Family Residence

Price Type --

Stunning and spectacular custom mountain log retreat located in Chaparral Pines, rated among the best golf courses in Arizona - this exquisite home captures panoramic views of the Mogollon Rim & the 13th hole of Chaparral Pines. Enter the breath-taking great room with its soaring log beams and a wall of floor to ceiling windows that capture the vista views of the Ponderosa pines and the aptly named scenic 13th hole, ''Tree Tops!'' Then relax in front of the massive stone fireplace with adjoining wet bar & meander onto one of the sweeping decks that overlooks the golf course & majestic Mogollon Rim. Two spacious & welcoming master suites each with a fireplace along with an awesome media room await you on the main level & then journey to the upper level which boasts 2 guest bedrooms w/ full baths, plus billiards room & a comfortable den/office. Among the many custom features are hardwood & slate flooring, gourmet kitchen w/granite countertops, breakfast bar & beautiful kitchen cabinetry, built-in appliances. Thirty foot ridge beam ceilings abound and all four bedrooms have balcony patios that allow you to enjoy the crisp mountain air. Please note that the custom made, mountain bedroom furniture (beds & nightstands) for all 4 bedrooms, all TV's & electronics, theater system, and the wildlife mounts (moose, deer, bob cat, fox/bird, turkey) are included in the sale. Prepare yourself for an unparalleled lifestyle that is both relaxed and refined as you enjoy the natural beauty of this luxury gated golf community which include (championship golf course, sports courts, swimming pools, dog park, gym, playground, social activities and clubs and a clubhouse) 2020 EZGO 6-person lithium powered golf cart is negotiable.

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8511 S 9th Drive Unit 15 Phoenix, AZ 85041

$1,395,000

4 Beds

4.5 Baths

3,300 SqFt

Status Active

MLS # 6642072

Property Type Single Family Residence

Price Type --

Introducing Heard Farm at South Mountain, a brand new community of 24 modern farmhouses with sophisticated architecture designed for healthy, sustainable living! Nestled in South Mountain with quick access to downtown Phoenix, Heard Farm seamlessly blends indoor and outdoor living with fresh floor plans designed for the way you want to live. Floorplan available as 5 bedroom.

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28500 N Camel Rock Court Rio Verde, AZ 85263

$1,395,000

2 Beds

2.5 Baths

2,161 SqFt

Status Active

MLS # 6764656

Property Type Single Family Residence

Price Type --

STUNNING GOLF COURSE LOCATION AT TRILOGY VERDE RIVER. MANY UPGRADES TO THIS 1-YEAR-OLD HOME. Situated on the 14th fairway, this 2161sf Brasada plan has 2 beds + den, 3 baths, a heated pool, golf course & mountain views. Park-like setting with carefree turf front/back & 550sf covered back patio for entertaining. Open floor plan w/ custom flooring and 8' 6-panel doors. Large primary en-suite, walk-in closet & bath w/ custom glass shower + tub. Office/den with double doors. 3 wall-mounted TVs convey. Upgraded kitchen appliances, recessed lighting, pendant lights, soft-close cabinet doors & drawers, artwork lighting package. All countertops top of line. Smart space laundry with full cabinets. 580sf 3 bay garage with separate Mini Split AC unit. Perfect for home gym/art studio/workshop.

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