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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6020 E Shea Boulevard Scottsdale, AZ 85254

$1,385,000

4 Beds

2 Baths

2,031 SqFt

Status Active

MLS # 6725529

Property Type Single Family Residence

Price Type --

Great opportunity in Scottsdale's Magic Zip Code of 85254 to own nearly an acre lot of horse property with established pool home waiting for your vision! This well developed property includes 4 bedrooms/2 baths in a split set up and a large inviting pool oasis. Opportunities abound! For instance, remodel this home to become your dream home with plenty of room to expand or build anew. Car enthusiasts will appreciate the 1200+ SF workshop with double garage doors and a carport for outdoor work or RV enthusiasts can utilize the garage to park their RV. Garage comes complete with office and bathroom. Or, repurpose the workshop into an air conditioned horse barn. Cater to your horses or horse lovers in the area for premier boarding! It would also make a great Air BNB opportunity? Repurpose this home into an amazing retreat for those seeking an escape to Scottsdale. The property would also make for an excellent group home locagtion. So many possibiliies with the land and location. Come see what opportunities might work for you!

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3002 E Hanging Rock -- Payson, AZ 85541

$1,380,000

3 Beds

4 Baths

5,069 SqFt

Status Active

MLS # 6712092

Property Type Single Family Residence

Price Type --

MOUNTAIN VIEWS THAT TAKE YOUR BREATHAWAY! Welcome to this warm and spacious home located in the Rim Golf Club. Providing main level living with a spacious kitchen, and dining area that highlights the breathtaking views of the Granite Dells Mountain Range. Beautiful dual fireplace with stone and copper accents that provides a gentle feel of separation to the spacious den with access to a perfect deck to be enjoyed. A separate expansive covered/uncovered deck faces the majestic Mogollon Rim absolutely ideal for entertaining and enjoying the four seasons. The main suite provides dual closets with built-ins, a hidden cedar closet, dual sinks, walk-in shower and deck access. Enjoy your own patio located off of the home office and laundry area. Lower-level living boasts family room with covered deck access perfectly designed for privacy and a superb view. Split floor plan provides one guest suite with deck access an additional full bath and an additional guest room. You will also be delighted with a tucked away space that is perfect for a home gym, home theatre or hobby room. Do not miss the bonus storage area perfect for decorations. Come see this perfectly situated home today!

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35245 S Turtle Creek Road Wickenburg, AZ 85390

$1,379,000

3 Beds

2 Baths

2,462 SqFt

Status Active

MLS # 6749049

Property Type Single Family Residence

Price Type --

Looking for Privacy & Solitude? This CUSTOM RANCH HOME ON 10 ACRES will be your choice *2,462 Sq Ft./ 3 Bed/ Den/ 2 Bath* Massive Vaulted, Wood & Beam Ceilings*NEWLY REMODELED! NEW ROOF! PRIVATE WELL! * New FLOORING+GRANITE COUNTERTOPS+ LANDSCAPING+RANCH SIZED GOURMET KITCHEN+LONG BAR+WHISKEY/WINE NICHE+LARGE GATHERING ROOM+FIREPLACE+ANDERSON WINDOWS+STAINLESS STEEL APPLIANCES+WINE FRIDGE+RUSTIC BEAMS+TILED WALK-IN SHOWERS+10 ACRES+Adjacent to thousands of ACRES of STATE LAND! ELEVATED & USEABLE w/ DIRECT ACCESS TO STATE LAND+HORSES & ATV'S+ROOM FOR THE INLAWS, OUTLAWS & MOTHER-IN-LAWS! EXTENDED COVERED PATIO+HEATED/COOLED SWIM SPA+HAY BARN+4 HORSE STALLS+MISTERS+TURN OUT+LARGE SHOP+2, 50-amp Full-service RV HOOKUPS+HITCHING POSTS+TRAILS FOR MILES+2 GATES TO ACCESS STATE LAND

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19360 N 73rd Street Scottsdale, AZ 85255

$1,377,000

3 Beds

3.5 Baths

2,247 SqFt

Status Active

MLS # 6772670

Property Type Apartment

Price Type --

Belgravia Group presents Atavia, a private gated community of 88 luxury condominiums coming soon to North Scottsdale. Atavia blends the breathability of single-family living with the carefree convenience of condominium ownership. Designed by award-winning international architecture firm KTGY, with a clubhouse inspired by Frank Lloyd Wright's iconic Taliesin West. Atavia is perfectly situated at the Loop 101 and Scottsdale Rd within the One Scottsdale masterplan development. Each residence features a private entry with 2 car garage, Italian kitchen cabinetry, Sub-Zero and Wolf appliances, 1 ¼'' quartz counters, and wood floors throughout main living areas. Residence C offers a guest suite or 4th bedroom option on level 1. Upstairs enjoy an open living area and spacious outdoor terrace.

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6816 N 177th Place Waddell, AZ 85355

$1,375,000

6 Beds

4.5 Baths

3,587 SqFt

Status Active

MLS # 6735754

Property Type Single Family Residence

Price Type --

Brand new home on an oversized lot! NO HOA. This home is situated on just over an acre and includes flood irrigation for the backyard. The home has an attached Casita off the front with its own exterior access and creates the perfect spot to work from home or host guests and loved ones. The backyard is fully fenced with block walls and ready for your dream backyard! Other homes for sale on the same street as well. You do not want to miss this!

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2449 E Southwood Road San Tan Valley, AZ 85140

$1,375,000

5 Beds

3 Baths

3,228 SqFt

Status Active

MLS # 6730008

Property Type Single Family Residence

Price Type --

This country home w/ a white picket fence, wrap-around porch & on 3.3 FLOOD IRRIGATED ACRES is a classic vision of rural life. Complete horse training facility offering; 18 horse stalls w/ auto waterers & fans. The huge arena is a rare find; 200' x 300', LED lights & excellent footing. It has a convenient cattle alleyway to easily load cattle into the roping chute. More features; hay barn, silo, large wash rack w/ dry well for drainage, 2 turnouts w/ shades, cattle pens & 4 RV hookups. The detached garage / workshop offers two roll-up doors, space for a tack room, feed or tractors. The home features five true bedrooms, including two owner suites—one on each level. The upstairs master suite includes a jetted tub, walk-in shower & two walk-in closets. **Click 'More' tab** The Great Room is highlighted by a beautiful stone fireplace. The kitchen features white cabinets, granite countertops, breakfast bar island & stainless steel appliances. Huge laundry room w/ cabinets & a mudroom, a desirable feature for the outdoor lifestyle. Countless hours have been spent in this arena & barn dedicated to rigorous training and practice. Both horses and their riders transformed into champions, achieving remarkable success in competitions. Now, it's your turn to take ownership of this home and utilize this exceptional arena and facility to shape the next generation of champions.

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3007 E Arrow Point Payson, AZ 85541

$1,375,000

3 Beds

3 Baths

2,458 SqFt

Status Active

MLS # 6774758

Property Type Single Family Residence

Price Type --

Discover the perfect blend of luxury and nature in this exquisite rustic home located in The Rim Golf Club. Featuring striking exterior stonework, this property boasts AMAZING VIEWS of the breathtaking Granite Dells Mountains, providing a serene backdrop for everyday living. Step inside to find wood floors that flow throughout most of the main level, complemented by beamed ceilings that enhance the home's charm. The beautifully landscaped yard invites you to unwind in peace, while the gorgeous kitchen is a chef's dream, equipped with a 6-burner Wolf gas range, a Subzero refrigerator, granite countertops, and a butler's pantry complete with a beverage cooler. The master suite offers a private retreat with a separate door leading to the back deck, perfect for morning coffee or evening stargazing. The luxurious primary bathroom features a stand-alone tub and a spacious walk-in shower, providing a spa-like experience at home. This is not just a home; it's a lifestyle. Don't miss your chance to experience the tranquility and beauty this property has to offer!

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10042 S Greenfield Road Gilbert, AZ 85234

$1,375,000

6 Beds

4 Baths

5,210 SqFt

Status Active

MLS # 6775238

Property Type Single Family Residence

Price Type --

Here is your opportunity to OWN ACREAGE in the heart of Gilbert, AZ with NO HOA restrictions! This expansive property offers endless possibilities for creating your dream homestead. With 6 bedrooms, 4 bathrooms, and a 3-car garage, there's plenty of room for everyone. The huge kitchen features an oversized island with seating for 8, perfect for family gatherings or entertaining. The fully finished basement boasts 9-foot ceilings, 3 oversized bedrooms with large walk-in closets, a spacious game room, and a wet bar—an ideal space for fun and relaxation. The attached casita provides extra flexibility with its own private bathroom and a single-car garage, perfect for guests or extended family. (MORE) Outdoors, there's ample room to build a shop, detached accessory building, or guest house. A separated pasture with flood irrigation offers plenty of space for animals, making this property ideal for those looking to enjoy a bit of country living while still being close to all the conveniences of Gilbert.

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3920 E Covey Lane Phoenix, AZ 85050

$1,375,000

5 Beds

4.5 Baths

4,044 SqFt

Status Active

MLS # 6777915

Property Type Single Family Residence

Price Type --

Welcome to your poolside paradise in Fireside at Desert Ridge! This ''Chattanooga'' floor plan sits on a premium oversized cul-de-sac lot featuring a newly added pool/spa with relaxing water features, an ''endless'' swim lane, and cozy fireplace/fire bowls. With professionally designed interiors, this home has been thoughtfully upgraded with new tile, hardwood flooring, carpet, interior paint, and a refreshed kitchen boasting new quartz counters. Other improvements made include a tankless water heater, 240v electric vehicle charging, spa heater, laundry sink, landscaping/landscape lighting, fixtures, and exterior paint. Enjoy a carefree lifestyle at Fireside with resort amenities at the luxurious community center and the convenience of being minutes from Desert Ridge award-winning schools, dining, shopping, and convenient freeway access.

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3248 Rising Sun Ridge Wickenburg, AZ 85390

$1,375,000

3 Beds

3.5 Baths

2,771 SqFt

Status Active

MLS # 6778003

Property Type Single Family Residence

Price Type --

Discover elevated living in this beautifully upgraded Latigo home in Wickenburg Ranch. With 2,771 sqft of thoughtfully designed space, this residence offers a tranquil retreat. The open floor plan fills the living spaces with natural light. The gourmet kitchen features a gas range, wine cooler & ample counter space ideal for entertaining. The primary suite features a spa like bathroom with a freestanding bathtub, glass enclosed shower with multiple heads & his and hers closets. The detached casita offers its own full bathroom providing a perfect space for guests. Outside the patio features a pool & spa with mountain views. Experience resort-style living w/ golf dining & social amenities. Don't miss this exceptional desert retreat!

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6717 E Brilliant Sky Drive Scottsdale, AZ 85266

$1,375,000

3 Beds

3 Baths

2,030 SqFt

Status Active

MLS # 6750276

Property Type Single Family Residence

Price Type --

Public Remarks:Welcome to your beautiful desert dream home, freshly remodeled & radiating luxury at every turn! From the incredible Wolf & Sub-Zero Kitchen to the stunning & warm fireplace to the ultimate getaway Master Retreat! This completely reimagined designer home in North Scottsdale's prestigious guard gated Terravita community is the epitome of elegant, carefree living. Imagine starting each day in this exquisite, move-in-ready gem, perfectly tailored for downsizing, upgrading, or as is seasonal escape. Every corner of this desert retreat has been thoughtfully curated to blend sophisticated style with everyday comfort. Experience the beauty of Arizona living with magnificent sunsets & a lush private backyard oasis, all within a low-maintenance, resort-style setting.

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4539 N 65th Street Scottsdale, AZ 85251

$1,375,000

2 Beds

2 Baths

1,715 SqFt

Status Active

MLS # 6783635

Property Type Single Family Residence

Price Type --

HIGH END REMODEL in a centrally located gated community adjacent to the famed Phoenician Resort. This single level, NO INTERIOR STEPS home sits on the 4th fairway of the Phoenician Resort golf course. Exquisitely remodeled, this move in ready home features a gourmet kitchen with high end Wolf and SubZero appliances, Waterworks bathroom fixtures, White Oak hardwood floors throughout and large, bi-folding doors that open to the patio and golf course views. The home includes two master bedrooms in addition to a separate office or formal dining room. Walk or ride to nearby Fashion Square and the Scottsdale Waterfont for high end shopping and dining. Enjoy a short, 15 minute drive to Sky Harbor Airport. A perfect year-round or lock and leave home in an exclusive guard gated community. Don't miss your opportunity to own a part of the Phoenician lifestyle.

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