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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4739 S Leisure Way Gilbert, AZ 85297

$580,000

3 Beds

2 Baths

1,722 SqFt

Status Active Under Contract

MLS # 6769608

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level home in the highly sought-after Layton Lakes community, where modern living meets everyday convenience. This beautifully updated 3-bedroom, 2-bathroom home offers an open and spacious layout designed to maximize both comfort and style. The moment you step inside, you'll notice the gorgeous flooring throughout, free from any carpet, offering a sleek, low-maintenance appeal. Large windows flood the living spaces with natural light, creating a bright and welcoming atmosphere. Recent upgrades include new exterior paint (Aug/Sept 2024), new faucets, and fresh turf (Oct 2024), ensuring a move-in-ready experience. With its east-west orientation, you'll enjoy plenty of sunlight throughout the day. Nestled in a prime location, this home is close to parks... , walking trails, top-rated schools, and easy access to freeways, making it a perfect choice for both families and professionals. The kitchen is the heart of the home, boasting ample cabinetry, modern appliances, and a breakfast bar that's perfect for casual dining or entertaining guests. Retreat to the serene master suite, which features a generous walk-in closet and a private bathroom for your own personal oasis. Outside, the expansive backyard is a landscaped paradise, featuring a variety of plants and a fenced-in poolideal for relaxation.

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3401 N 37th Street Unit 16 Phoenix, AZ 85018

$580,000

2 Beds

2 Baths

1,494 SqFt

Status Active Under Contract

MLS # 6782005

Property Type Townhouse

Price Type --

This stunning 2-bedroom, 2-bathroom townhome, spanning 1,500 square feet in the highly desirable Arcadia Lite area, seamlessly combines modern design with sophisticated elegance. Upon entry, you're greeted by an expansive open floor plan with soaring ceilings, filling the home with a bright and airy ambiance. A perfect balance of natural and designer lighting enhances the luminosity throughout. The kitchen is a chef's dream, featuring premium Taj Mahal stone countertops, an LG appliance package, and a luxurious wine and coffee bar—all complemented by custom designer finishes. Recently upgraded with a new roof and windows, this home is truly move-in ready, complete with high-end amenities. Both oversized bedrooms offer spacious walk-in closets, and the primary bathroom serves as a serene retreat, complete with dual showers and an indulgent soaking tub. Additionally, a versatile flex space within the home provides the perfect setup for a home office or creative studio, adapting to any lifestyle. The private backyard invites relaxation or entertaining, while the two-car garage adds security and ample storage, making this townhome as practical as it is stylish.

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6418 W Irma Lane Glendale, AZ 85308

$580,000

3 Beds

2 Baths

1,834 SqFt

Status Active Under Contract

MLS # 6774108

Property Type Single Family Residence

Price Type --

Brand New Roof in 2024! Absolutely Stunning 3 Bedroom, 2 Bath, Single Level Home Located on Premium Golf Course Lot, Formal Living & Dining Room w/Vaulted Ceilings, Upgraded Kitchen w/Custom Cabinets & Granite Countertops, Kitchen Island w/Breakfast Bar, Stainless Steel Appliances Included, Family Room w/Wood Burning Fireplace, Master Bedroom w/Walk-In Closet, Master Bathroom w/Dual Sinks, Custom Walk-In Shower & Tub, Tile Throughout Home, Dual Pane Windows, Plantation Shutters, Extended Covered Backyard Patio, Professionally Landscaped Front & Backyard, Variety Of Mature Citrus Trees, Best Backyard in the Community with over Quarter Acre Lot & Wonderful Views of the Golf Course, 2 Car Garage, Cul-De-Sac Lot, Come Check It Out!

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2702 E Saddlebrook Road Gilbert, AZ 85298

$580,000

3 Beds

2 Baths

2,044 SqFt

Status Active

MLS # 6769751

Property Type Single Family Residence

Price Type --

Must see this gorgeous home in highly desirable Adora Trails! Fall in love the minute you pull up; N/S exposure, pavered drive way, wrought iron security door. Neutral colors throughout, split floorplan w/ spacious great room. Wood shutters and crown molding. Gourmet kitchen w/ gas cooktop, granite, R/O system, backsplash, pull out shelves, walk in pantry and SS appliances. 3 bdrm, 2 bath + Den with glass french doors. Garage has built in cabinets & workbench. Laundry room has built in cabinets. Owner suite has classy closet. Owner has taken excellent care of this home adding gutters & fully landscaped backyard w/ grass, trees & areas to relax/entertain in covered space. Very desirable Adora Trails is master planned to include a variety of community & lifestyle amenities! Don't Miss out!

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20627 W Luke Avenue Buckeye, AZ 85396

$580,000

2 Beds

2 Baths

1,577 SqFt

Status Active

MLS # 6752899

Property Type Single Family Residence

Price Type --

Discover this charming 1,577 sq. ft. Single story home located in the vibrant Victory District of Verrado, a premier 55+ active adult community. This beautifully designed residence features 2 spacious bedrooms, a versatile den perfect for a home office and 2 modern bathrooms. With a layout that emphasizes comfort and functionality, you'll enjoy open-concept living areas, stylish finishes, and access to the community's extensive amenities, including golf courses, pickle ball, tennis courts, pools, walking trails, and social clubs. Ideal for those seeking an active, engaging lifestyle in a welcoming neighborhood.

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26218 S Brentwood Drive Sun Lakes, AZ 85248

$580,000

3 Beds

2 Baths

1,823 SqFt

Status Active

MLS # 6779857

Property Type Single Family Residence

Price Type --

Discover this popular Alameda model home, featuring 3 spacious BR and 2 BA in the sought-after Cottonwood Active Adult Community. The primary BR boasts an elegant en-suite with an additional expanded walk-in closet, offering ample storage space. Enjoy luxurious travertine flooring throughout with carpet thoughtfully placed for comfort. Vaulted ceilings in the family room enhance the home's style and openness, while most windows have been recently upgraded for improved energy efficiency. The extended garage includes epoxy flooring, workbench, and abundant storage. Situated on a desirable golf course and lake view lot, this home provides stunning scenery to enjoy from your own backyard with balcony too! Don't miss this exceptional opportunity to own a slice of paradise!

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1548 N Seton Street Mesa, AZ 85205

$580,000

4 Beds

2 Baths

2,009 SqFt

Status Active

MLS # 6784023

Property Type Single Family Residence

Price Type --

Updated family home in Alta Mesa. Large corner lot. Home has been stylishly updated. Both bathrooms have double sink and recently updated. Kitchen is huge and open to large family room. Updated countertops and flooring. Large patio doors from family room and master bedroom make for a lovely indoor/outdoor feel. Large master bedroom and walk in closet. Fireplace in family room has been recently updated. Mature landscaping makes the backyard truly an oasis. Large diving pool with hot tub. Huge mature ficus trees and citrus trees. Large side yards and L shaped porch. Three car garage with additional storage. Two sheds in the backyard for additional storage. One shed has been built to be an office. Has power, AC and finished walls and flooring.

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18610 W Alice Avenue Waddell, AZ 85355

New

$580,000

3 Beds

2 Baths

2,131 SqFt

Status Active

MLS # 6787167

Property Type Single Family Residence

Price Type --

Owner/Agent. This stunning 3 bed, 2 bath, +den, single story home offers high-end features and a spacious lot with your own desert oasis to enjoy gorgeous MOUNTAIN VIEWS. Located 3 miles from the incredible White Tank Mountain Regional park with extensive Sonoran Desert TRAILS, nature center, and library with picturesque views, you can truly experience the beauty of the southwest only minutes away while still having easy access to Loop 303 freeway, as well as premier entertainment and dining. Featuring a split floorplan with the primary suite tucked away in the back of the home, the open living space includes a great room, kitchen, and dining room overlooking the extended, covered back patio. Low maintenance landscaping, complete with a custom pergola and crystal blue POOL with water features provide the perfect outdoor retreat. The custom RV GATE makes projects from front to back a breeze. Your modern, light and bright kitchen features quartz countertops, pendant lighting, and a large island with farmhouse sink & breakfast bar. You're sure to appreciate the gas cooktop and upgraded cabinets with under and over cabinet lighting and a walk in pantry. Relax in the primary suite with oversized, custom tiled shower, dual vanity/sinks, and a large walk-in closet. Expansive wood look tile flooring compliments most of the home and in the bedrooms, find newly installed luxury carpet with transferable lifetime warranty. Windows throughout have beautiful custom shutters, and the multi-panel 9-foot sliding door has custom shades for full sunlight or privacy when you need it. You'll love the home's ENERGY SAVING features and a healthier and quieter lifestyle. The 3-CAR GARAGE is insulated and complete with a mini split heating/cooling unit, professionally installed for year-round comfort. White Tank Foothills is a short 10 mile drive from the Westgate Entertainment District and 5 miles south of Prasada Shopping and Dining, close to numerous employers, and top-rated schools, including AMERICAN LEADERSHIP ACADEMY less than 2 miles from home. Come see why this is the home you've been looking for!

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9401 S 51st Street Phoenix, AZ 85044

$580,000

4 Beds

3 Baths

2,677 SqFt

Status Active

MLS # 6647719

Property Type Single Family Residence

Price Type --

NEW Roof**NEW kitchen stainless appliances, and pull out drawers in all lower cabinets*** NEW water heater*** NEW fresh paint interior*** blinds on all windows, custom closets in master bedroom and bedroom 2 ** Elegant golf course home boasts a spacious island kitchen wit. The windows offer views of the landscaped turf yard. Vaulted ceilings and custom shutters are featured throughout. The upstairs primary bedroom suite includes a balcony with views of the 7th fairway. Additional amenities include a living room fireplace and hardwood floors. With one bedroom downstairs, golf and gym memberships available, and surrounding hiking trails, there's plenty to enjoy. The 3rd car garage can be converted back to a garage. This beautiful home is move-in ready for your client

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16233 W Mohave Street Goodyear, AZ 85338

$580,000

4 Beds

2.5 Baths

3,064 SqFt

Status Active

MLS # 6703699

Property Type Single Family Residence

Price Type --

So Fresh and So Clean! 4bd/2.5ba/3car. This home sits on a 9600 sqft lot, backing south, and adjacent to a wash so no neighbors to the West. Custom configured by the owners, the features list includes utility bill saving solar panels! Kitchen has custom pullout drawers in EVERY cabinet, Hood with 36' gas cooktop, double oven and granite countertops. The great room and kitchen/dining flow seamlessly into one another for an open concept. Off the entry the formal dining has been converted into an office/flex room. All tile flooring was laid with a unique 70/30% pattern. Primary bedroom is massive measuring at 17.9'x16.9'. Upgrades in the last 3 years include all new landscape irrigation with pvc pipe, both AC units, exterior paint. Nothing left to do but buy it and move right in!!!

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1357 W Port A Sail Drive Gilbert, AZ 85233

$580,000

3 Beds

3 Baths

1,797 SqFt

Status Active

MLS # 6741454

Property Type Single Family Residence

Price Type --

This stunning waterfront home in gated community offers breathtaking views with three bedrooms, third bedroom converted to an office, and three full baths. Freshly painted, this two-story residence exudes modern elegance and charm. The gourmet kitchen boasts granite countertops, newer appliances, and opens to a sunlit dining area, perfect for entertaining. The living room, featuring water views and a wood-burning fireplace. Each bedroom serves as a private haven, with the primary suite offering a luxurious en-suite bath. Outside, the beautifully landscaped yard, complete with turf and mature trees, provides the perfect setting for relaxing and enjoying the waterfront lifestyle. 2 A/C units 2020, water heater 2021, kitchen appliances 2021, lighting and house painted 20

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10536 W Villa Hermosa -- Peoria, AZ 85383

$580,000

3 Beds

2 Baths

2,493 SqFt

Status Active

MLS # 6744672

Property Type Single Family Residence

Price Type --

NO HOA!!! Highly sought after North Peoria home featuring a 3-car garage & a welcoming covered entry. Inside, you'll find 3 bedrooms plus a versatile den, along with family & living rooms, and a formal dining area—perfect for gatherings & relaxation. The kitchen has elegant granite counters, including a charming round granite table that stays, and convenient soft-closing cabinet drawers & doors. The master suite offers a spacious walk-in closet with custom shelving & access to the 3rd car garage. Buyer to choose between a sleek glass shower front or a restored separate shower/tub before close of escrow. Fall in love with the expansive enclosed patio & outdoor kitchen area. Conveniently located near schools, shopping, and entertainment, this home is ready for you to move in and enjoy!

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