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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6802 E Beverly Lane Scottsdale, AZ 85254

$650,000

3 Beds

2 Baths

1,428 SqFt

Status Active Under Contract

MLS # 6742060

Property Type Single Family Residence

Price Type --

Imagine living just minutes from Scottsdale Quarter, where you can enjoy some of the valley's best restaurants, world-renowned golf courses, and premier shopping. Welcome to your dream home—a perfect blend of classic charm and modern comforts, all with the freedom of no HOA restrictions. Nestled on a desirable corner lot, the property welcomes you with easy-care turf, a mature shade tree, a two-car garage, and a charming front porch. Step inside to a bright, open floor plan where natural light pours in through vaulted ceilings. A serene color palette, recessed lighting, modern fixtures, and wood-plank tile flooring create an elegant ambiance, while a stylish wooden panel wall fireplace adds warmth and sophistication. The gourmet kitchen offers ample functionality and style, featuring quartz and butcher block countertops, a chic tile backsplash, BRAND NEW white cabinetry, and a central island with a breakfast bar. The primary suite is a sanctuary, complete with a walk-in closet, a spa-inspired ensuite with dual sinks, a BRAND NEW vanity with abundant storage, a walk-in glass shower, and direct backyard access. Outdoor features include a heated pool for year-round enjoyment, and recent updates provide peace of mind with a water heater and windows replaced in 2020, and a roof, HVAC, and pool equipment all less than 10 years old. Enjoy low-maintenance living in a home that truly shines. Schedule your showing today this Scottsdale gem won't last!

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1514 E Estrid Avenue Phoenix, AZ 85022

$650,000

3 Beds

2 Baths

2,245 SqFt

Status Active Under Contract

MLS # 6747440

Property Type Single Family Residence

Price Type --

2024 Remodel Loaded with Upgrades and New A/C Unit, Picturesque Corner lot with Stunning Mountain Views, Mature landscaping, Living/Dining room features Vaulted ceilings, Clerestory windows, Plantation Shutters, & Elegant Wood-look flooring. The Cozy Family room has an inviting Fireplace for relaxing evenings. The Kitchen comes with a breakfast nook, Quartz counters, Abundant White cabinetry, a Subway tile Backsplash, SS appliances, a pantry, & an Island/Breakfast bar. The versatile den is ideal for an office, study, or a 3rd bedroom. The sizeable main bedroom offers plush carpeting, an ensuite with dual vanities, soaking tub, & walk-in closet. The serene backyard oasis includes a covered patio, stylish pavers & a lawn. Make it yours!

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3702 E Laurel Lane Phoenix, AZ 85028

$650,000

3 Beds

2 Baths

1,680 SqFt

Status Active

MLS # 6738884

Property Type Single Family Residence

Price Type --

Fabulous home in a fabulous location! This stylish mid-century modern home offers lots to enjoy inside, outside, and in the area. The backyard is perfect for the summer days and nights with a sparkling pool, new no-maintenance grass, BBQ, and picnic area. Inside you will enjoy tile flooring and new carpet, a new kitchen with quartz counter tops, new cabinetry, back splash and extra cabinet space by dining. Bathrooms have been remodeled with the mid-century style. Great storage and space in the laundry room. Minutes away from hiking, golf, shopping and dining and the new PV mall re-development. Kierland/Scottsdale Quarter and the Biltmore are just short drives away. Easy access to the 51 and 101 freeways to bring you all over the Valley easily.

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5734 S Veneto -- Mesa, AZ 85212

$650,000

5 Beds

3 Baths

2,952 SqFt

Status Active Under Contract

MLS # 6717738

Property Type Single Family Residence

Price Type --

PRICED $50k BELOW the competition and the cost to build this home brand new. Why wait 6+ months for build time when you can move in NOW??? This NEW home boasts endless upgrades and high end finishes throughout. The heart of the home, the kitchen, is designed for both beauty and functionality. With high-end appliances, ample counter space, and elegant cabinetry, it's a chef's dream come true. This home has also just undergone a thorough inspection by a trusted third party for the one-year builder walkthrough. A transferable builder warranty, ensuring continued satisfaction for years to come is also included. Outside, the possibilities are endless in the backyard, awaiting your personal touch to transform it into your dream oasis. Don't miss out on the BRAND NEW GEM!! Whether you envision a serene retreat with lush landscaping or an entertainer's paradise complete with a pool and outdoor kitchen, this space is primed for your imagination. Experience luxury living at its finest in this meticulously crafted home, where every detail has been thoughtfully considered for both style and practicality.

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19743 W Exeter Boulevard Litchfield Park, AZ 85340

$650,000

4 Beds

2.5 Baths

2,982 SqFt

Status Active

MLS # 6722040

Property Type Single Family Residence

Price Type --

Looking for a new home? This fantastic 4 bed, 2.5 bath residence now on the market is for you! Charming curb appeal, a low-care landscape, and a 3 car tandem garage are just the beginning. Discover a spacious dining & living areas w/elegant wood-look flooring, recessed lighting, and neutral palette throughout. The fabulous kitchen is equipped w/everything you'll need for home cooking, ample cabinetry, a pantry, quartz counters, SS appliances, and an island complete w/a breakfast bar. Upstairs you'll find a sizeable loft perfect for an entertainment area. End your busy day in the primary bedroom, boasting soft carpet, a walk-in closet, and an ensuite w/dual sinks. Finally, the expansive backyard w/its covered patio is a blank ready to become your own private oasis! Don't miss out!

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14421 N Prickly Pear Court Fountain Hills, AZ 85268

$650,000

3 Beds

2 Baths

1,838 SqFt

Status Active

MLS # 6738052

Property Type Single Family Residence

Price Type --

WOW a big price reduction, lowest 3 bedroom SFPrice Welcome to this beautiful home located in the highly sought-after golf community of Sunridge Canyon!, This is a true 3 bedroom home (all have closets). Tucked away against a backdrop of open space, this property offers a peaceful escape. and views of the Town of Fountain Hills and very close to the Golf Course . HVAC new 2018/Nothing to do but move in and enjoy life in beautiful Fountain Hills. This single level home offers a formal dining room / kitchen with breakfast bar and breakfast room overlooking the yard / 3 Full bedrooms one is set up from a perfect office/den Nice location allows for e-z access to all community amenities including Golden Eagle Park/Pickle Ball courts and more/ just a short drive to shops and restaurant

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2616 S Extension Road Mesa, AZ 85210

$650,000

4 Beds

2 Baths

2,094 SqFt

Status Active

MLS # 6752935

Property Type Single Family Residence

Price Type --

Welcome to your beautifully updated oasis, with NO HOA! This stunning home boasts a plethora of recent upgrades, including a brand-new HVAC system installed in May 2022, a new water heater in March 2022, and a complete plumbing overhaul with top-of-the-line Kohler and Moen fixtures. Step into luxury with a remodeled master shower featuring Tanner materials and indulge in the modern convenience of new interior doors throughout. Enjoy the ambiance of new light fixtures, adding elegance to the coffee nook, kitchen island, and bathrooms. The backyard is a paradise with newly installed turf, drip irrigation, and vibrant plants offering privacy and tranquility. Retreat to the pool area, where a NEW heated saltwater pool awaits, complete with a corner table, waterfall, Baja step, and multicolor lights. With interior accent walls, matte black cabinet handles, and a suite of brand-new LG appliances, this home is as stylish as it is functional. Don't miss the chance to make this your dream home - Easy access to Mesa CC, shopping & 60 fwy! 15 minutes from PHX airport and a quick drive from Tempe/ASU!

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16600 N Thompson Peak Parkway Unit 1053 Scottsdale, AZ 85260

$650,000

3 Beds

2 Baths

1,674 SqFt

Status Active

MLS # 6774524

Property Type Townhouse

Price Type --

Ground floor unit all one level, city light views, 3 bed, 2 bths, remodeled throughout, quartz countertops, large format tile flooring, shutters in greatroom, gas fireplace, and 2 patios. Steps from community pool, spa and fitness workout room. Walking distance to Basha's Supermarket, restaurants, salons, and animal clinic. Close to hiking trails and golf. Access to McDowell Mtn community pools, including lap pool, spas, tennis and pickleball courts, playground and events. Aquatic center near by with skate park, lap pool and fitness center.

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4252 E Desert Sky Court Cave Creek, AZ 85331

$650,000

3 Beds

2 Baths

1,782 SqFt

Status Active

MLS # 6733020

Property Type Single Family Residence

Price Type --

Your new home in the gated community of Ocotillo at Dove Valley Ranch is sure to check all the boxes! Meticulously maintained, this single-level gem has a private pool, three bedrooms, a versatile den option, a split-great room floor plan, and beautiful desert wash & sunset views from the back. Interior features include neutral tile flooring & carpet in the bedrooms, granite kitchen countertops, stainless appliances, a pantry, and vaulted ceilings. The backyard is perfect for entertaining with a sparkling pool, a covered patio, and views of the natural area open space. The home's exterior was painted April 2024; plus, there are no two-story homes around for ultimate privacy! Beyond your new home, enjoy all Dove Valley Ranch has to offer: one of North Phoenix's finest public golf courses, a clubhouse bar/lounge, and easy access to first-rate schools, parks, hiking, shopping, & more.

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1251 S Honeysuckle Lane Gilbert, AZ 85296

Open House

New

$650,000

4 Beds

2 Baths

1,872 SqFt

Status Active

MLS # 6789063

Property Type Single Family Residence

Price Type --

Great location in Gilbert with single level 4BR/2BA almost 1900SF home, oversized lot, RV gate, pool and solar! Upgraded cabinets in kitchen and baths, granite counters and stainless steel appliances. Newer two tone paint throughout. Vaulted ceilings make this home feel large and spacious. Private backyard with grass, outdoor kitchen and pool is perfect for relaxing and entertaining year round!

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4514 N Kirkwood Avenue Prescott Valley, AZ 86314

Open House

$650,000

4 Beds

2.5 Baths

2,560 SqFt

Status Active

MLS # 6767302

Property Type Single Family Residence

Price Type --

Welcome to this stunning Prescott Valley home featuring a desirable floor plan with a spacious Great Room, versatile Den/Dining Room, and 4 bedrooms, including a luxurious Master Suite. BRAND NEW ROOF in 2023 with a transferable warranty. The Master Suite offers private access to the rear patio, a relaxing garden tub, dual vanities, and an expansive walk-in shower. With 2.5 baths, three additional spacious guest rooms, and a fantastic location, this home has everything you need for comfort and convenience. Ideal for entertaining and everyday living, this is the perfect blend of style and functionality. Don't miss out!

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17006 N 44th Place Phoenix, AZ 85032

Open House

$650,000

3 Beds

2 Baths

2,006 SqFt

Status Active

MLS # 6782203

Property Type Single Family Residence

Price Type --

Beautiful remodel completed in 2021 blends modern comfort and timeless design. This home features 3 bedrooms plus an office with room to convert to a 4th bedroom. Both bathrooms are fully renovated with custom cabinets, quartz countertops and light bright finishes. Hardwood floors throughout the rest of the home - no carpet! Oversized kitchen with ample storage, extended island to seat 6 plus. Brand new windows installed in 2021 and new A/C in 2020. Premier location for local public schools, shopping, dining, all you need. Minutes from the SR51.

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