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

3 Common Mistakes That First-time Mortgage Borrowers Make and How to Easily Avoid ThemDeciding 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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11063 E Gamble Lane Scottsdale, AZ 85262

$1,100,000
3 Beds
3 Baths
2,751 SqFt
Status Active
MLS # 6777021
Property Type Single Family Residence
Price Type --
Nestled in Scottsdale's prestigious Troon North community, this upgraded, single-level home provides the perfect retreat in one of Arizona's most sought-after neighborhoods. Situated on a premium corner lot, the ideal location enhances the home's overall privacy and appeal. With beautiful desert landscaping, enjoy seasonal fresh oranges & lemons, a welcoming front courtyard and a manicured façade, the exterior sets the tone for the elegance within. Once inside, you'll be greeted by an open-floor plan that effortlessly flows from room to room. A spacious living area offers high ceilings and large windows, creating an airy atmosphere while showcasing the entertaining backyard. While in residence, the owners have undertaken over $250K in improvements, offering warm tones & finishes (more) throughout, including Saltillo & wood floors, custom lighting, plantation shutters, upgraded interior & exterior paint & electric shades. The gourmet kitchen is equipped with stainless steel appliances, Brazilian granite countertops & backsplash, a generous island that's perfect for entertaining & a picturesque view of the surrounding landscape. Home theater wired for 7.2 surround sound with inbuilt speakers. An inviting primary suite offers a serene escape & provides direct access to the outdoor pool. The ensuite bath features dual vanities, a jetted tub, and a spacious walk-in shower. Two additional BR's (one w/ access to the front courtyard) a hall BA & a separate office w/ ensuite provide ample space for work & guests. The highly favored 3CG is equipped with epoxy floors & custom built-in storage. Discover your own private backyard oasis thoughtfully enhanced & designed with entertaining in mind, featuring a sparkling pool with waterfall feature, spacious patio, a built-in BBQ & custom fireplace, & manicured landscaping. Ascend to the rooftop observation deck, where you could take in the surrounding mountain views from Tom Thumb to South Mountain, stunning sunsets, captivating city lights & night skies. Located in the heart of Troon North, this home offers access to world-class golf, nearby trails, and the vibrant Scottsdale lifestyle. Don't miss the opportunity to own this remarkable residence that perfectly blends comfort & convenience!

11305 S 195th Drive Buckeye, AZ 85326

$1,100,000
4 Beds
2 Baths
2,857 SqFt
Status Active
MLS # 6781143
Property Type Single Family Residence
Price Type --
Craftsmanship Meets+Custom Resort on Acre! This pristine Oasis offer's Quality Craftsmanship everywhere you look! No upgrade was spared, this was the Custom builder model to showcase their options so you can only imagine. When you enter the Great room you will notice the open inviting 12 foot ceilings. Gourmet kitchen with high end granite countertops, stainless steel appliances w/rich solid knotty alder cabinets, Hard wood floors, Custom doors, Travertine floors, Subzero refrigerator, Stainless steel double ovens, a walk in pantry and lots of pull out shelves, gas stove, Primary bath has huge walk-in closets snail shower & extensive tile, built in cabinets, One of the room is used as an office with built in Murphy bed. The backyard is fenced in and private with mountain views from the

13653 E Aloe Vera Drive Scottsdale, AZ 85262

$1,100,000
4 Beds
3 Baths
3,025 SqFt
Status Active
MLS # 6783334
Property Type Single Family Residence
Price Type --
(UNDER CONSTRUCTION) New Construction desert home. This new build with NO HOA, MASSIVE open Kitchen & living room with high-end Cabinets, Quartz Countertops, 36'' Cooktop, Built-in Stainless Steel Microwave and double ovens, & upgraded flooring. The upgrades continue with a stunning Master Bathroom with a Freestanding Soaking Tub, Modern Shower and Beautiful Double Vanities, an oversized four car garage, RV Garage, private well and more!!! (pictures useed in this listing are of a previous project and represent what the home may look like).

8751 E Krail Street Scottsdale, AZ 85250

$1,100,000
3 Beds
2 Baths
2,097 SqFt
Status Active
MLS # 6785048
Property Type Single Family Residence
Price Type --
Beautiful single level home in Scottsdale on the Silverado Golf course. This 2 Bedroom plus Den has a south facing backyard with stunning views and sunsets.Floor plan is wonderful for guests . Large counters and bar seating, Oversize patio and landscaping, shutters, lighting, ceiling fans, chandelier in DR and newer carpet for guest bedroom. Very convenient location with access to the 101 and resorts, restaurants and the Railroad Park.

5471 S Big Horn Place Chandler, AZ 85249

$1,100,000
5 Beds
4 Baths
3,408 SqFt
Status Active
MLS # 6787552
Property Type Single Family Residence
Price Type --
Welcome to this semi-custom TW Lewis 5bed/4bath/3,408sqft home w/ resort style backyard! Equipped w/ a stunning pool, putting green, built in BBQ & no neighbors behind you! Through the gated courtyard you're greeted by a bright & open floorplan which blends contemporary style w/ modern finishes throughout. New marble floors in all the living spaces. Enjoy holiday cooking in the gourmet chef's kitchen w/ upgraded cabinets, granite countertops, Kitchen Aid SS appliances & island for entertaining. The primary bath has all the amenities needed to spoil yourself - tiled walk-in shower, soaking tub & oversized closet. Valencia is a luxury master-planned gated community & one of South Chandler's most desired neighborhoods. Surrounded by parks, lakes & Chandler's award-winning schools district.

18947 E Lazo Court Rio Verde, AZ 85263

$1,100,000
2 Beds
2.5 Baths
2,860 SqFt
Status Active
MLS # 6785682
Property Type Single Family Residence
Price Type --
Beautiful territorial home with elegance, privacy and views located in the wonderful golfing community of Tonto Verde. Meticulously maintained throughout with a total luxurious remodel in the primary bathroom, to include heated tile floors in the shower. Chef's kitchen with large island and a breakfast bar is open to the family room with windows galore to allow beautiful natural lighting. Kiva fireplaces add even more warmth to this designer decorated retreat. Extra large pantry, built in cabinets in dining room, office and garage allow for extra storage that every home owner desires. This is a home you will want to see in person to appreciate the charm and character. You will not want this one to slip through your fingers as it is very special find in a community of this caliber.

15019 N Mayflower Drive Fountain Hills, AZ 85268

$1,100,000
5 Beds
4.5 Baths
3,300 SqFt
Status Active
MLS # 6786310
Property Type Single Family Residence
Price Type --
Discover the perfect blend of comfort, versatility, and outdoor living in this exceptional Fountain Hills property! Ideal for multi-generational living, a home-based studio, or vacation rental opportunities, this unique property offers incredible flexibility. The main house features 2,341 sq. ft. of beautifully remodeled living space (2015), including 3 bedrooms, 2.5 baths, and modern finishes throughout. An attached guest house adds 563 sq. ft., complete with 2 bedrooms, 1 bath, and a private screened-in patio. Additionally, a 396 sf detached guest studio provides an efficiency-style living space with a full bathroom, perfect for short-term rentals or a private retreat. Step outside to your private backyard oasis and enjoy the sparkling diving pool, a cozy gazebo with a firepit, and a built-in BBQ. Multiple outdoor living spaces, including screened-in patios off the main and attached guest houses, as well as two other covered patios, make this home an entertainer's dream. With a thoughtful 2015 remodel, including modern kitchens and baths, this home offers both style and functionality. Whether you're looking for a flexible living arrangement or a serene retreat with ample outdoor amenities, this property is a rare find. Don't miss the opportunity to make this versatile and inviting home yours!

4231 E Palm Lane Coolidge, AZ 85128

$1,100,000 - 4Br/4Ba -  for Sale in La Palma Estates Subdivision, Coolidge
New
$1,100,000
4 Beds
3.5 Baths
2,525 SqFt
Status Active
MLS # 6788690
Property Type Single Family Residence
Price Type --
This 2021 built, spacious 2,525 sq. ft. home on 3.3 irrigated acres in Coolidge, AZ, offers the ideal blend of luxury and functionality. With 4 bedrooms and 3.5 baths, the home features a large kitchen island, open concept and vaulted ceilings! Enjoy outdoor living on the extended back patio with views of the 150' x 260' roping arena. Equestrian amenities include an 8-stall barn with tack and feed rooms, wash rack and covered hay barn. The property also has an extended two-car garage, full RV hookups, a private domestic water well, and a full casita with kitchenette, laundry, and bath. Fenced with wood staves, this property is perfect for those seeking privacy, space, and equestrian facilities! Ask about our additional 3.3 acre pasture for sale adjacent to this property!

3350 S Holguin Way Chandler, AZ 85248

$1,100,000
5 Beds
3.5 Baths
4,377 SqFt
Status Active
MLS # 6775658
Property Type Single Family Residence
Price Type --
Great Location, Amazing Home! Single story from the outside, basement with a theatre room on the inside. Directly off the front entry is the den/library or home office. The kitchen features granite countertops and backsplashes, GE Monogram appliances, gas cooktop and wall oven, with walk-in pantry, kitchenette and plenty of cabinetry space. Formal dining room/great room area adjacent. Relaxation is just a few steps away when you step outside onto the back patio complete with insulated electric roller shades, built in grill and pool with a new pump 2024. This wonderful 5-bedroom home has a huge master bedroom with new Anderson sliding glass doors/windows that open to the backyard spa & pool area. Master bath is complete with two double bowl sinks, separate shower and oversized tub and a huge walk-in closet with plenty of storage. Two additional bedrooms and full bath down the hall, two additional bedrooms and full bath in the basement. Full finished basement with wet bar, granite countertops and undercounter fridge. 144 mounted wall screen and projector for your 8-seat theatre room great for entertaining or gaming. Plenty of storage space to be found in this home, half bath located next to the laundry room/workout facility. New irrigation system installed 2024. Financed solar panels will be paid off at COE. Home is located next to the green space/park area in Avalon, Chandler Unified School District. Come see why this home should be your next home.

2402 W Sunrise Drive Phoenix, AZ 85041

$1,100,000
3 Beds
2.5 Baths
3,162 SqFt
Status Active Under Contract
MLS # 6766383
Property Type Single Family Residence
Price Type --
Stunning 3-bedroom, 2.5-bath, ground level master bedroom home with a brand new roof, nestled in an amazing mountainside location offering breathtaking 360-degree views of the mountains and city lights! 20 acres of South Mountain, south of the home were just incorporated into the preserves. Enjoy city views of the valley from the north facing kitchen and while dining. Every room is designed to maximize the stunning scenery, from the endless vistas in the master bedroom to the mountain view from your office. Featuring a spacious upstairs balcony for even more panoramic enjoyment. Quality craftsmanship shines throughout! Situated on 3 acres of land, there's ample space for horses or simply experiencing the rural lifestyle—all just minutes from downtown

5617 E Claire Drive Scottsdale, AZ 85254

$1,100,000
4 Beds
2.5 Baths
3,058 SqFt
Status Active Under Contract
MLS # 6761281
Property Type Single Family Residence
Price Type --
This beautifully updated home is conveniently located just minutes from everything Scottsdale has to offer. The residence features a spacious, open family room with vaulted ceilings, and a wood-burning fireplace. The kitchen is designed to impress, with modern smart stainless steel appliances, a wine refrigerator, quartz countertops, skylights, and a large island with extensive storage and seating. The natural light enhances the bright, airy atmosphere throughout the entire home. All the bedrooms are generously sized with the primary suite conveniently located on the first floor. It includes a sizable closet and an elegantly updated private bathroom, complete with a modern tiled shower, contemporary flooring and cabinetry, a stand-alone tub, and ample counter space w/ dual sinks Numerous 2020 upgrades, including a Trane HVAC system, a full new roof, complete tile flooring, new windows throughout, and a smart heat-pump hot water system with smart thermostats. More recent upgrades include owned solar panels, ev charger and wired for a second, and a pool heat pump (heats in cooler months and cools in summer). The outdoor space is thoughtfully designed for both beauty and functionality, featuring a large covered patio and a pebble tech pool. The xeriscape landscaping is low-maintenance and water-efficient, attracting hummingbirds, while evening accent lighting adds charm. A vegetable garden, positioned to thrive in spring without the harsh afternoon sun, offers the perfect spot for growing tomatoes. For outdoor cooking enthusiasts, the unique penny-tiled pizza oven provides a special touch. This residence represents a perfect blend of modern enhancements, purposeful design, and an excellent locationa truly exceptional opportunity for those seeking a refined Scottsdale lifestyle.

20872 E Mewes Road Queen Creek, AZ 85142

$1,100,000
4 Beds
2.5 Baths
2,994 SqFt
Status Active Under Contract
MLS # 6772258
Property Type Single Family Residence
Price Type --
Yippee! Welcome to your DREAM Horse Property in the desirable Orchard Ranch community! This Stunning Renovated 4-Bedroom, 2.5 Bath home sits on just shy of an acre. Featuring a Split floor plan, Vaulted Ceilings, a Stone Wet Bar, and a Gorgeous Chef's Delight Kitchen. Warm walls, and Woods combined with a Beautiful Fireplace add a cozy touch to the living space. Enjoy Entertaining outdoors with a Sparkling Pool, Soothing Spa, and a spacious covered patio, also a Ramada featuring a Fantastic Outdoor Kitchen for those summer cookouts! A HUGE 3+ car garage and TWO RV gates, there's plenty of room for all your toys and trucks. The Charming Barn, complete with two stalls, a tack room, and space for your trailers is ideal for the COWBOY/ COWGIRL! It's the Perfect combo of City and Country life!

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