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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1842 N Red Cliff Mesa, AZ 85207

$570,000

2 Beds

2 Baths

1,379 SqFt

Status Active

MLS # 6783900

Property Type Townhouse

Price Type --

Welcome to this exceptional 2-bedroom, 2-bathroom home nestled in the exclusive, gated community of Mountain Bridge. Upgraded and fully furnished, this home is the epitome of move-in ready, offering style, elegance and convenience for modern living. As you step inside, you're greeted by an expansive great room featuring soaring ceilings and an abundance of natural light pouring in through a glass sliding door. This inviting space seamlessly blends comfort and sophistication, making it perfect for both everyday living and entertaining. From the backyard, you can enjoy sweeping views of the desert wash, offering a private & serene landscape on a premium lot! Ultimate resort-style living at this community offers swimming pools, pickle ball/tennis courts, gym, rec center and so much more

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531 W Silver Creek Road Gilbert, AZ 85233

$570,000

4 Beds

2.5 Baths

2,020 SqFt

Status Active Under Contract

MLS # 6783620

Property Type Single Family Residence

Price Type --

ATTENTION: *Potentially* assumable 2.25% VA loan, restrictions apply, must qualify. Nestled in the desirable Madera Park neighborhood, this beautifully remodeled 2 story home offers style and space. This residence offers a thoughtful floorplan including a charming coffee bar and private space under the stairs for littles or pets. Samsung washer/dryer set conveys and features a deep folding shelf of stylish granite. Kitchen equipped with LG fridge, Samsung electric cooktop/oven and built-in micro. Backyard will welcome you all year round with a majestic ficus tree, sandbox play area, a sun-sail over the pebble-tec pool, and there are even producing grape vines! MUST SEE this one ASAP!

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15625 N Jerry Street Surprise, AZ 85378

New

$570,000

5 Beds

3 Baths

2,455 SqFt

Status Active

MLS # 6787673

Property Type Single Family Residence

Price Type --

Beautifully stunning 5-bedroom, 3-bathroom single level newer built surprise home. This home has upgrades throughout including marble floor throughout with no carpeting, upgraded baseboards, 9' ceilings and archways throughout, upgraded doors, fixtures window blinds and ceiling fans. This open floor plan home has a large living room and formal dining area with access easy access to the backyard patio. Stunning kitchen features granite countertops, tile backsplash, breakfast bar, upgraded soft-close cabinets, large island, separate walk-in pantry, gas range, dishwasher and refrigerator.

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16180 W Glenrosa Avenue Goodyear, AZ 85395

$570,000

5 Beds

3.5 Baths

3,066 SqFt

Status Active

MLS # 6651477

Property Type Single Family Residence

Price Type --

Embrace the beauty of this wonderful 5-bedroom haven in Palm Valley! This home has a split floorplan, spacious primary bedroom with a remodeled walk-in shower, his and hers vanities and a walk-in closet. This home also features a MIL suite with it's own entrance from the courtyard and private bathroom PLUS an extended driveway with an RV Gate. The open-concept kitchen displays recessed lighting, a pantry, staggered cabinetry adorned with crown moulding, granite counters & backsplash and stainless steel appliances. Lastly, the backyard features a covered patio and a shimmering pool, perfect for warm summer days! Hurry! This gem will surely impress you!

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2135 S Bristol -- Mesa, AZ 85209

$570,000

4 Beds

3 Baths

1,883 SqFt

Status Active

MLS # 6709098

Property Type Single Family Residence

Price Type --

Nestled in the heart of coveted Augusta Ranch, this home epitomizes elevated living. With its spacious open-concept floor plan boasting four bedrooms and three baths, it's an entertainer's dream. The family room and inviting kitchen areas are ideal for hosting gatherings. Enjoy the beautiful low-maintenance backyard, complete with a large pool that can be enjoyed year around thanks to a gas heater addition (2023). Updates like a new roof (2023) and renovated bath fixtures add modern convenience, while the community's amenities, including an executive golf course, bar/grill, abundant events, parks, and a school, ensure a lifestyle of comfort and enjoyment. This home is a must-see!

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44562 W Sedona Trail Maricopa, AZ 85139

$570,000

6 Beds

3.5 Baths

4,019 SqFt

Status Active

MLS # 6720344

Property Type Single Family Residence

Price Type --

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3225 N Lost River Drive Camp Verde, AZ 86322

$570,000

4 Beds

3 Baths

3,640 SqFt

Status Active

MLS # 6727355

Property Type Single Family Residence

Price Type --

With a compelling offer, the seller is prepared to contribute to the buyer's interest rate buy-down or concessions. Updated 4 Bed, 3 Bath Home on 2 separate Parcels totaling over an Acre of Land. Brand New 2024 Roof. Brand New 2024 HVAC. All New LVP flooring & Fresh Carpet. Kitchen Boast New Quartz Countertops, Stainless Steel Appliances, & Tile Backsplash. Master Bedroom features Custom Walk-In shower, His & Her sinks, & Barndoor entry. New Light fixtures and Contemporary Fans throughout. Freshly Painted Inside & Out. Great for Animals or Extra Toys/RV's. Just Blocks away from the Verde River - Excellent Location!

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714 W Mesquite Street Gilbert, AZ 85233

$570,000

4 Beds

2 Baths

1,962 SqFt

Status Active

MLS # 6750995

Property Type Single Family Residence

Price Type --

Fantastic opportunity! Welcome to this stunning residence featuring a 3-car garage and a convenient RV gate. Discover a welcoming living room with vaulted ceilings, clerestory windows for natural light, contemporary track lighting, and tile flooring. The great room has a cozy fireplace for quiet evenings. The delightful kitchen boasts a charming breakfast nook, granite counters, abundant wood cabinetry, built-in appliances, recessed lighting, a pantry, and a two-tier island with a breakfast bar. The den is perfect for an office or study. The main bedroom includes French doors leading to the backyard, an ensuite with dual sinks, and a walk-in closet. The enchanting backyard displays a covered patio and a sparkling pool for cooling down on warm days. Make this gem yours!

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26028 N 66th Drive Phoenix, AZ 85083

$570,000

4 Beds

3 Baths

2,119 SqFt

Status Active

MLS # 6757394

Property Type Single Family Residence

Price Type --

Location, location, location! Attention: Seller is offering a $10,000 credit at closing towards buyer updating and/or upgrades! This home has energy saving feature upgrades as well with newly installed premium Andersen windows with a transferable warranty and a fully owned 5KW solar system to keep your energy bills low. In demand north Phoenix Eagle Ridge location with mountain views! Homes do not come up for sale frequently in this idyllic neighborhood. Close to shopping, schools, and parks. Multi-level open floor plan with expansive vaults and skylights to let in lots of light. Recently updated primary bath with huge walk in shower. Large yard and covered patio for entertaining. Inviting pebble-tec pool with a removable fence and beautiful water feature will captivate you! The main level has a convenient 4th bedroom for guests or as an in home office. The heart of the home, the kitchen, features multiple pantries with abundant storage and pull out drawers in convenient locations, as well as easy access to both the living room and family room. Newer high efficiency AC and air handler installed by current owner as well as water heater. Durable bamboo and tile flooring in all the high traffic areas of the home as well. Your new home awaits you!

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18531 W Thistle Landing Drive Goodyear, AZ 85338

$570,000

4 Beds

3 Baths

2,593 SqFt

Status Active

MLS # 6761534

Property Type Single Family Residence

Price Type --

Tucked within the breathtaking Estrella Mountain Ranch, this Next Gen home seamlessly blends privacy, elegance, and modern living. Situated on a private lot with serene views of a peaceful common area, this home offers a rare opportunity for multigenerational living with two homes under one roof. Thoughtfully designed, this Lennar® Next Gen model includes a separate suite complete with its own entrance, kitchen, living room, bedroom, and bathroom—ideal for extended family, guests, or even a private office. The possibilities are limitless! Located in the expansive 20,000-acre master-planned community of Estrella in Goodyear, residents are welcomed into a lifestyle defined by natural beauty and world-class amenities. Estrella features over 500 acres of parks and open space including 72 acres of lakes for boating and fishing. Residents enjoy exclusive access to the Starpointe Residents Club, two fitness centers, a refreshing water park, and miles of scenic hiking trails and bike paths. Sports enthusiasts can take advantage of basketball, volleyball, pickleball, and tennis courts. For golf lovers, the nearby Jack Nicklaus-designed championship course at The Golf Club of Estrella is a dream come true. And for those seeking relaxation, Estrella's resort-inspired atmosphere, surrounded by the Sierra Estrella Mountains and the Sonoran Desert Valley, offers a peaceful retreat just 17 miles from downtown Phoenix. This home offers more than just a place to liveit opens the door to the unrivaled lifestyle Estrella Mountain Ranch is known for. This community truly has something for everyone.

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11541 E Corbin Avenue Mesa, AZ 85212

$570,000

4 Beds

2.5 Baths

2,373 SqFt

Status Active

MLS # 6767202

Property Type Single Family Residence

Price Type --

This beautiful 4-bedroom, 2.5-bath home is located in the highly desirable Warner Enclave subdivision in Mesa. With 2,377 sq. ft. of upgraded living space, this 2-story home offers a bright and open floor plan perfect for entertaining. The kitchen features stunning Valhalla granite countertops, soft-close cabinets, a large pantry, and stainless steel appliances, including a gas range. The primary suite boasts a spacious walk-in closet, dual vanities, and a separate tub and shower. Additional features include a cozy upstairs loft, a dedicated office space, and a convenient upstairs laundry. The home is ENERGY STAR certified with a low HERS rating of 51, ensuring excellent energy efficiency. Outside, you'll find a well-maintained desert landscape with a covered patio, perfect for outdoor relaxation. Located near top-rated schools such as Queen Creek Unified District, this home also offers quick access to shopping, dining, and entertainment. Plus, with no rear neighbors, you'll enjoy added privacy. Don't miss out on this gemschedule your tour today!

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13408 W Lariat Lane Peoria, AZ 85383

$570,000

3 Beds

2 Baths

1,781 SqFt

Status Active

MLS # 6769987

Property Type Single Family Residence

Price Type --

This 2022 3bdrm 2bath home is on one of the larger lots in Rancho Cabrillo. The home includes an additional bonus room, extended driveway pavers, and a large side vehicle gate. The kitchen opens up to the great room and dining room. Four panel sliding glass doors open up to the backyard entertaining area which includes a covered back patio, built-in BBQ, pool with water feature, and sun deck. The pool deck is surrounded by travertine pavers. The backyard also includes a fire pit and artificial turf. You will enjoy plenty of pool parties, and BBQ's in this beautiful backyard. Don't miss out on this one-of-a-kind gem! Seller is related to Listing Agent.

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