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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237 N Cottonwood Drive Gilbert, AZ 85234

$555,000
4 Beds
2 Baths
2,298 SqFt
Status Active
MLS # 6749131
Property Type Single Family Residence
Price Type --
BACK ON THE MARKET!!! Welcome to Stonebridge Lakes! Your 4 bedroom, 2 bathroom home in a prime location in Gilbert awaits you. The 4th bedroom is set up as an office, perfect for remote working or running your business! Walk or bike to downtown Gilbert for plenty of entertainment nearby. You will fall in love with the open floorplan that this home has to offer. Just wait until you see the tranquil backyard with plenty of shade, storage and room for outdoor grilling. Stonebridge Lakes offers catch and release fishing, a playground, a community pool and spa. This home is also located in the top A-rated Gilbert Unified School District.

19702 E Arrowhead Trail Queen Creek, AZ 85142

$555,000
5 Beds
2.5 Baths
3,040 SqFt
Status Active
MLS # 6730181
Property Type Single Family Residence
Price Type --
Check out this home in the heart of Queen Creek. It's just over 3,000 square feet with 5 bedrooms and 2.5 bathrooms. This home offers a large and spacious great room as you enter. The kitchen and living area is an additional space that is large and open giving you all the space you need. The backyard is low maintenance and the turf makes it feel like you have a yard minus the hassle. There is an extended patio in the backyard that can help shade you when temperatures begin to increase. There is one room located downstairs and the remaining four bedrooms and laundry room are located upstairs. The master bathroom has large his and her walk-in closets. The seller is open providing concessions to buy down the rate and allowing you to reduce your monthly payment

3121 N 21st Place Phoenix, AZ 85016

$555,000
3 Beds
2 Baths
1,557 SqFt
Status Active
MLS # 6740406
Property Type Single Family Residence
Price Type --
This beautifully remodeled mid-century gem offers a perfect blend of modern amenities and classic charm. Enjoy a spacious split floorplan that provides privacy and comfort for all. Your private oasis awaits with a covered pergola and extended patio, ideal for outdoor entertaining and relaxation. Experience tranquility in this secluded setting with excellent access to the Biltmore/Camelback area and downtown Phoenix. The recently remodeled kitchen features quartz countertops, 42'' cabinets, R/O faucet and modern fixtures. Upgraded bathrooms offer both comfort and convenience. Enjoy updated flooring throughout the home, interior doors, and a newer A/C unit. Don't miss the chance to own this stunning mid-century home that perfectly balances modern upgrades with classic style!

22624 E Spyglass Boulevard Queen Creek, AZ 85142

$555,000
4 Beds
3 Baths
2,031 SqFt
Status Active
MLS # 6758944
Property Type Single Family Residence
Price Type --
Wonderful, Move in Ready Richmond American single level floor plan in SPUR CROSS that is only four years old. Super curb appeal with stunning ledgestone across the front of this home. This model has a few flexible options with 4 bedrooms and a den or bonus flex room. This home has beautiful wood plank tile flooring throughout and carpet in the bedrooms. You will love the open gourmet kitchen that looks out to the dining and living areas. Gorgeous chocolate cabinets with creamy white quartz and finished with a nice white subway tile backsplash. Plenty of extra seating at the kitchen island too, SS appliances and a large pantry for storage. The bathrooms all have marble countertops and white cabinets. The master bedroom has 2 separate walk-in closets, a master bath with... double sinks and a large walk-in shower. Elegant lighting, hardware, fans, plantation shutters and wood blinds are found t/o this home. For your convenience, an R/O system and water softener are already in place. Low maintenance living in the backyard with covered patio, pavers, and a large turf area to enhance the outdoor entertainment. This is a unique neighborhood that features many winding paths for walks and bike rides, a community pool for your enjoyment, ramadas throughout, a basketball court and so much more. Put this home on your list to see!

9722 E Tungsten Drive Mesa, AZ 85212

$555,000
3 Beds
2 Baths
1,803 SqFt
Status Active
MLS # 6751256
Property Type Single Family Residence
Price Type --
This immaculate lightly lived Eastmark residence feels brand new and is packed with desirable upgrades. Featuring 3 bedrooms + a dedicated office, this home is perfect for modern living. Soaring 10-ft ceilings, wood-look tile flooring, and ample natural light create a bright and airy ambiance. The well appointed kitchen features KitchenAid stainless steel appliances, a gas range, and quartz countertops. It seamlessly flows into the spacious great room featuring an ample dining space and a living room complete with a view of the covered patio thru the builder installed sliding glass door. The large backyard is an oasis complete with green grass and a healthy ficus hedge providing privacy as well as many other lush plants including various young citrus trees This meticulously maintained home is truly move in ready with all appliances including a water softener staying. More than a neighborhood, Eastmark is a vibrant community. Eastmark isn't just about houses; it's about fostering genuine connections and nurturing community. Here, diverse residents actively shape a welcoming environment where neighbors become friends. Living in Eastmark means enjoying a resort-inspired lifestyle, including a luxurious pool, splash pads, numerous parks including the City of Mesa Great Park with a stocked fishing pond, farm-fresh fare at the Steadfast Farm, The Handlebar Diner, and The Mark, the state-of-the-art clubhouse with year-round events and family-friendly games

22939 E Pummelos Road Queen Creek, AZ 85142

$555,000
2 Beds
2 Baths
1,897 SqFt
Status Active
MLS # 6767687
Property Type Single Family Residence
Price Type --
The seller is open to considering concessions with your offer! Step into extraordinary living with this stunning 2021 home, where space and charm exceed expectations. Situated in Queen Creek's sought-after Harvest community, you'll enjoy resort-style amenities including two heated pools, a splash pad, scenic trails, parks, and a beautiful 1.5-acre lake. Indulge in local flavors at nearby Queen Creek Olive Mill and Schnepf Farms. Inside, you'll find bright, inviting spaces with a kitchen designed for gatherings and a primary suite that serves as your personal retreat. The backyard is an oasis for tranquil afternoons. Your dream lifestyle awaits!

2511 W Queen Creek Road Unit 164 Chandler, AZ 85248

$555,000
2 Beds
2 Baths
1,466 SqFt
Status Active Under Contract
MLS # 6648361
Property Type Apartment
Price Type --
Located in the sought-after Downtown Ocotillo area. Built in 2023.This property boasts a comprehensive range of high-end amenities and upgrades designed to offer an exceptional living experience. A significant 950 square foot patio accessible from both the living room and master bedroom, offering extensive outdoor private space, which is a rare find in urban living environments. Gourmet Kitchen: Equipped with upgraded KitchenAid stainless steel appliances, white maple cabinetry, and two pantries—one with pullout shelving and another with custom shelves. The presence of quartz countertops and a spacious island enhances both its functionality and aesthetic appeal. An additional room that can serve as a den or office, featuring a Jack and Jill bathroom, providing a practical and flexible living space that can be tailored to various needs. Large laundry room complete with cabinets, shelving, and a soft water system, indicating a thoughtful consideration towards practicality and convenience in home design. High pH reverse osmosis (RO) water system is a notable feature, emphasizing the property's commitment to health and wellness. Wood-look style porcelain tiles offer a durable yet aesthetically pleasing flooring option, while upgraded light fixtures and a coat closet add to the property's luxurious feel. The inclusion of smart home security and the ButterflyMX system highlights the modern and secure living environment, catering to the increasing demand for integrated technology in residential spaces. A private gated garage and locked bike room storage suggest a high level of convenience and security for residents, addressing common urban living concerns. Proximity to restaurants, entertainment options, farmers markets, and more, underscores the appeal of urban living, with essential amenities and leisure activities within walking distance. This property appears to offer a blend of luxury, convenience, and modern amenities, making it an attractive option for those seeking a high-quality living experience in Downtown Ocotillo. With over $70,000 in upgrades, it reflects a significant investment in creating a space that is both comfortable and stylish, catering to the needs and preferences of discerning residents. Near INTEL, Price Technology Corridor, Restaurants, Shopping, Entertainment and Freeways.

6146 E Quartz Circle Mesa, AZ 85215

$555,000
4 Beds
2 Baths
2,115 SqFt
Status Active Under Contract
MLS # 6731888
Property Type Single Family Residence
Price Type --
Spacious 4 bedroom 2 bath home with an outstanding floor plan is located on a cul de sac street with less traffic and NO HOA. As you enter the home, you'll notice the openness with vaulted and 9 ft. ceilings throughout. There are 2 large living areas and dining rm. The kitchen includes a refrigerator and opens to the family rm with a cozy fireplace, 2 skylights, and breakfast dining area with views of the yard. Dual pane windows, ceiling fans and plantation shutters help keep you cooler in the summer. There are split bedrooms, with the primary being on the opposite side of the house from the others. The 4th bedroom is also separated and would make a great office, etc. The primary has access to the patio and yard, and has a good-sized bathroom with dual sinks and walk-in closet. The private backyard with no homes behind, boasts a large tiled covered patio, relaxing gazebo, and views of beautiful Red Mountain. On the way to the garage, you will notice the inside laundry room that includes a washer and dryer. The 3 car garage has a 9 ft ceiling, cabinets, overhead storage, and water softener. This well kept neighborhood is convenient to shopping, schools, and the 202 freeway.

10433 E Tesla Avenue Mesa, AZ 85212

$555,000
2 Beds
2 Baths
1,694 SqFt
Status Active Under Contract
MLS # 6750655
Property Type Single Family Residence
Price Type --
2bdrm/2bth home located in an active adult community. 1,694 sq ft home features an extended den, & great rm which boasts an open-concept plan with a 12' multi-slider off the nook, allowing ample natural light to flow through. The kitchen is equipped with SS appliances including a gas stove, staggered maple cabinets, granite counters, & a lg island, complemented by a W-I pantry & a laundry rm with a utility sink. Primary bath offers a raised vanity with dble sinks, W-I shower, & W-I closet adding a touch of luxury. This home has a 2 car garage, on a corner lot that backs to a common area. The extended covered patio boasts travertine overlay, gas fire pit & turf providing a low maintenance yard! Community offers pickle ball, tennis, bocci ball, a club house with workout facility & much more

33002 N Pebble Creek Drive San Tan Valley, AZ 85143

$555,000
4 Beds
3 Baths
3,293 SqFt
Status Active
MLS # 6742840
Property Type Single Family Residence
Price Type --
Awesome two-story property ready to go! Fall in love with the manicured landscaping, 3-car tandem garage, and sweet curb appeal. The immaculate interior has pre-wired surround sound, ample living spaces with endless entertainment possibilities, sizable bedrooms, and an updated A/C unit for convenience. The open-concept kitchen features new stainless steel oven refrigerator and dishwasher, an island with a breakfast bar, granite counters, plenty of cabinets, and a walk-in pantry. In the oversized main retreat, you'll find a walk-in closet and a private bathroom for added comfort. Discover a serene backyard boasting a grassy area, covered patio, and sparkling blue pool. Electrical hookup also available for detached hot tub. ****Buyer failed to fulfill contingency, back on market****

5849 W Monte Cristo Avenue Glendale, AZ 85306

$555,000 - 3Br/2Ba -  for Sale in Sunburst Farms 24, Glendale
Open House
$555,000
3 Beds
2 Baths
1,839 SqFt
Status Active
MLS # 6784316
Property Type Single Family Residence
Price Type --
Nestled in the highly desirable Sunburst Farms of Glendale, this expansive **.37-acre property** offers the perfect blend of rural charm and modern convenience. Ideal for horse enthusiasts, the property features a **horse trail directly behind** and plenty of space for equestrian needs. The **3-bedroom, 2-bath home** has been beautifully remodeled with thoughtful upgrades throughout. Step inside to discover a bright, open floor plan featuring **bamboo flooring**, **new butcher block countertops**, and freshly painted interiors. The **master bedroom** boasts luxurious Venetian plaster walls, while both bathrooms have been completely updated with new tile and vanities. A spacious living room, dining area, and cozy family room provide ample space for entertaining, complemented by a **large laundry room** with a convenient side exit to the yard. Outside, you'll find a true **backyard oasis**, complete with a **newly plastered sparkling pool**, a covered patio, and lush privacy provided by **mature mulberry and tangelo trees**. Two sheds, a **gated work area**, and **dual RV gates** offer plenty of storage and room for all your toys. The carport is thoughtfully tucked behind an RV gate, maximizing the backyard's usability. Don't miss this rare opportunity to own a piece of Sunburst Farmsa property that seamlessly combines country living with modern amenities!

10133 E Chestnut Drive Sun Lakes, AZ 85248

$555,000 - 2Br/3Ba -  for Sale in Sun Lakes Unit 16, Sun Lakes
Open House
New
$555,000
2 Beds
2.5 Baths
1,886 SqFt
Status Active
MLS # 6786631
Property Type Single Family Residence
Price Type --
Beautiful LAKE VIEW home located in a highly sought-after Adult community of Cottonwood at Sun Lakes. The community offers a unique blend of luxurious tranquility and classic charm that is loaded with numerous amenities including Golf Courses, Tennis, Pickle Ball, Racquetball, Swimming Pools, a Library, Fitness Center, Fishing Lake, and Restaurants along with tons of activities, events, and clubs such as concerts, walking, dancing, cooking classes, etc. The home features 2 BEDROOMS, 2.5 BATHS, and a LARGE DEN. There is a BEDROOM and a FULL BATH ROOM DOWNSTAIRS. 2 ENCLOSED PATIOS (One of the patios has its own AC unit). Marble kitchen countertop. Home is well maintained with newer exterior paint, HVAC, and Water Heater. Don't wait to make this gem yours!

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