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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41581 W Somerset Drive Maricopa, AZ 85138

$550,000

5 Beds

3 Baths

2,521 SqFt

Status Active

MLS # 6775776

Property Type Single Family Residence

Price Type --

This beautiful 5-bedroom, 3-bathroom, 2-car garage home is located in the sought-after Glennwilde community in Maricopa. The home has two floors and covers 2521 SqFt of space. **It features a solar system, a large pool, a heated spa, and a low-maintenance backyard with artificial turf and citrus trees. *The kitchen has granite countertops and the flooring is laminate plank throughout. The windows in the home was replaced with low energy has Solar The Glennwilde community also offers two heated pools for your enjoyment the home is close to Pacana Park with its amenities. Dog Park, Playground, Basketball, Baseball, Tennis, Fishing Pond, etc.

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27709 N 23rd Drive Phoenix, AZ 85085

$550,000

4 Beds

2.5 Baths

2,045 SqFt

Status Active

MLS # 6776809

Property Type Single Family Residence

Price Type --

Welcome to this beautiful 4-bedroom residence situated in Dynamite Mountain Ranch! Tastefully renewed interior features tile flooring, fresh neutral palette, and soaring ceilings in the harmonious living & dining room. HUGE great room bathes in abundant natural light & seamlessly connects to the back patio through sliding glass doors. The kitchen comes complete with recessed lighting, built-in appliances, a center island with a breakfast bar, granite counters, recessed lighting, and plenty of cabinetry topped with crown moulding. Spacious main retreat boasts plush carpet, vaulted ceilings, an ensuite with dual sinks, and a walk-in closet. Easy-care backyard has a covered patio where you can enjoy peaceful mornings or relaxing evenings. This urn-key gem is ready to be called home!

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2423 E Pony Lane Gilbert, AZ 85295

$550,000

3 Beds

2 Baths

1,906 SqFt

Status Active

MLS # 6779360

Property Type Single Family Residence

Price Type --

Move in ready, clean, bright 3BR, 2BA with designer touches and extended 2 car garage. Large lot size with private bacyard. All new windows, security door, newer A/C and all appliances included. Newly updated bathrooms. Great location and close to shopping, highways, schools etc.

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1505 W Lynwood Street Phoenix, AZ 85007

$550,000

3 Beds

2 Baths

1,420 SqFt

Status Active

MLS # 6777036

Property Type Single Family Residence

Price Type --

This charming 3-bedroom, 2-bathroom home in central Phoenix combines classic appeal with modern amenities. The spacious living area features natural light and a cozy atmosphere, perfect for family gatherings. The well-equipped kitchen offers updated appliances and ample storage. Each bedroom provides a comfortable retreat, while the bathrooms are tastefully designed for convenience. The backyard is a delightful outdoor space, ideal for entertaining or relaxing. With its prime location, this home is just minutes from local shops, parks, and dining, making it a perfect choice for both families and professionals.

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2349 W Del Campo Circle Mesa, AZ 85202

$550,000

4 Beds

2 Baths

1,586 SqFt

Status Active

MLS # 6779561

Property Type Single Family Residence

Price Type --

Very nice home, Includes 3 bedrooms plus a small room and 2 bathrooms, current owner has kept this home in a very good shape, Master bedrooms has an addition. Lots of kitchen cabinets, tile flooring through out, a big grassed back yard perfect for entertaining, 2 car garage, RV gate, with a RV parking place. Close to City of Tempe, I-101, I-202 & I-60 freeways, ASU and restaurants.

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7968 W Sheena Drive Peoria, AZ 85381

$550,000

4 Beds

2 Baths

2,315 SqFt

Status Active

MLS # 6780754

Property Type Single Family Residence

Price Type --

Corner lot close to shopping, eateries and public transportation. 3 car garage.this home boast a spacious layout with earth tone carpeted flooring throughout. Vaulted ceilings,. cozy kitchen with a breakfast bar that opens to a very cozy living room that beckons family and friends Wood cabinets has lots of storage, corian counter tops,. There's also a formal dining area . Main bedroom has a ceiling fan, dual sinks, tub, separate shower, walk-in closet. Also has a large patio w/built-in BBQ, and a very nice pool.

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3630 W Folley Street Chandler, AZ 85226

$550,000

3 Beds

2.5 Baths

1,580 SqFt

Status Active

MLS # 6778680

Property Type Single Family Residence

Price Type --

Beautiful 3 bedroom home on a large lot with a sparkling private pool. Kitchen has been updated with white cabinets, subway tile style backsplash, butcher block countertops, open shelving, stainless steel appliances. Updated wood flooring, updated bathrooms with a tile surround walk in shower in primary bath. Large master with walk in closet. Separate office was added with AC but is not included in sf, great for remote work. Backyard has am extra large aluminum patio cover, pool kool decking has been refinished, new pebbletech finish on the pool. Large grass backyard for activities. Large RV gate with area for toys and NO HOA. Large park on side and back of home so only 1 neighbor which makes this lot very private. Great home and neighborhood, for the price. Each bathroom has been thoughtfully updated, providing a fresh and modern feel. Enjoy year round comfort with a brand new AZ system & the added benefit of a new porch cover, prefect for outdoor relaxation. The backyard oasis is a true highlight, featuring a sparkling private pool with a new pebble tech finish, refinished Kool decking and an extra large aluminum patio cover-ideal for entertaining or unwinding under the sun. The expansive grass backyard offers plenty of space for activities, while a large RV gate provides convenient access for toys or additional storage. With no HOA, you can enjoy your home and lifestyle without restrictions. Separate garage office with AC (not included in sq footage) offers a perfect set up for remote work, allowing you to maintain a work life balance effortlessly. Located close to 101 & 202 highways, within walking distance of Dutch Bros Coffee, Chandler Mall and a variety of delicious restaurants, you'll have everything you need at your fingertips. The neighborhood is family friendly, filled with kids and young families, creating a welcoming community atmosphere. This exceptional home, with its prime location next to a large park & only one neighbor, is a rare find. Don't miss your chance to create lasting memories in this beautiful space. Come fall in love with your new home.

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4533 N 93rd Glen Phoenix, AZ 85037

$550,000

4 Beds

3 Baths

2,590 SqFt

Status Active

MLS # 6778859

Property Type Single Family Residence

Price Type --

Elegant 4 bed 3 bath home- enter a grand tower the hallway accentuated with high ceilings and doors. The Great room has a gorgeous 4 panel sliding door, eat-in dining, entertainment and kitchen. Huge granite island with breakfast bar. Shaker cabinets, stainless steel appliances w/ gas range. Split bedroom layout, the master features a nice sliding barn door, walk in sized ensuite, his/her sinks, and a walk in closet. The back is landscaped with pavers and artificial turf. Gated community-minutes from loop 101, Westgate district and AZ Cardinals Stadium.

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2486 W Dapple Gray Court San Tan Valley, AZ 85144

$550,000

3 Beds

2.5 Baths

2,211 SqFt

Status Active

MLS # 6780694

Property Type Single Family Residence

Price Type --

Incredible opportunity to own a stunning home. Owner added many upgrades above comparables conservatively $110,000. 2024 NEW HVAC Lennox with variable speed, NEW gas Pool Heater, NEW gas water heater, NEW OWNED 22 panel Solar. New EV plug in garage, NEW insulated garage door (with all new hardware) and NEW wifi garage door opener. Heated pool with pop-up cleaners, variable speed pump, artificial turf. In the backyard, along with bull nosed travertine decking! This house is turnkey! POOL FENCE and EV Charger included in sale. Your Arizona Lifestyle rear grounds are complete with an oversized patio with a wall mounted television and designed pergola that leads naturally to the outdoor refrigerator/kitchen/BBQ Area. Spend warm summer nights in your sparkling pool with ambient lighting. Spend your winters by the fire feature with a cozy heated pool! Conservative additional $80,000 in back yard landscaping. Designer kitchen and bbq island complete with plumbed water/drains for sink, electric, and natural gas for the BBQ.

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619 W Winchester Drive Chandler, AZ 85286

$550,000

3 Beds

3.5 Baths

2,565 SqFt

Status Active

MLS # 6782619

Property Type Single Family Residence

Price Type --

Look no further! This wonderful home has it all in the new Haven Community of Chandler. Be welcomed by the bright living room w/recessed lighting, wood tile plank floor in all the right places, & a side patio. Fantastic family room filled w/natural light w/ balcony access where you can enjoy your morning coffee. Magazine cover kitchen showcases a plethora of white cabinets w/crown molding, upgraded counters, SS appliances, pantry, & pendant lights over the center island. The den is ideal flex space for an office or a teen room. Owner's retreat enjoys a luxurious ensuite w/dual sinks, & a walk-in closet. Relax in the perfectly sized backyard w/paver patio, and grass turf.

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21019 N Totem Drive Sun City West, AZ 85375

$550,000

3 Beds

3 Baths

2,322 SqFt

Status Active

MLS # 6782057

Property Type Single Family Residence

Price Type --

This is the perfect retirement haven you've been looking for! Situated on a HUGE lot in a cul-de-sac, this beautiful home offers 3 beds, 3 baths, a 2-car garage, & a desert landscape. Home exudes refined style with tons of natural light, recessed lighting, neutral paint, and wood-look TILE flooring t/out. You'll surely love the perfectly flowing living & dining room! The kitchen boasts black SS appliances, tile counters, ample cabinetry, a breakfast bar, & a cozy nook. But the true highlight is the two identical split main bedrooms, each with a walk-in closet, full bathroom, and sliding doors to separate patios. Want MORE? The attached CASITA provides so much possibilities! It includes the 3rd bedroom, a bathroom, and a spacious living/dining/den space - or transform it into a hobby room. Laundry room with storage closets for added convenience. Discover the expansive backyard with fruit trees and an open patio to relax while enjoying BBQ! Located in the 55+ Sun City West, providing a resort-style lifestyle with four recreation centers featuring pools, fitness facilities, and craft studios, plus seven golf courses, including private & public options. Residents also enjoy a variety of clubs, tennis & pickleball courts, and a year-round social calendar of events & performances, all set amid scenic walking & biking trails. What a RARE find! Make this gem yours! New roof 2019, New primary A/C 2022 2nd A/C 2016, New Redwood Gate 2022, New exterior paint 2023, New back patio cover 2023, New pavers 2023, New landscape trees 2022, New Sun screen throughout 2021, New valves & Timer at irrigation 2022, New garage door opener and key pad 2022, New landscape granite 2024, New exterior light fixtures 2022, New Gutters front and Back 2024, New fans and switch 2021, New 5 inch recessed lights 2021, Removed popcorn ceiling 2021, Fresh paint throughout 2024, New porcelain tile and base throughout, Epoxy paint in garage 2021, New storage cabinet in Laundry rm 2023, 3 NEW Kholer toilets 2021, New sinks 2021, New water valves 2021, New Hunter Douglas window coverings 2021, New bathroom vanity 2&3, Fan in garage, Dimmer switches, Tile wains coat at kitchen & bath

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20823 S 185th Way Queen Creek, AZ 85142

$550,000

2 Beds

2 Baths

2,051 SqFt

Status Active

MLS # 6782864

Property Type Single Family Residence

Price Type --

What a gorgeous home with no neighbors behind! The layout was thoughtfully designed with a formal living and dining room, a sizable den, two ample bedrooms, and an open family room adjacent to the kitchen. Durable tile flooring in the main areas, neutral paint, and abundant natural light. Open-concept kitchen showcases a pantry, a center island with a breakfast bar, stainless steel appliances, and maple cabinetry. Discover a bright primary bedroom offering enough space for all your furniture, a walk-in closet, and a bathroom with a jetted tub, step-in shower, and dual sink vanity. Both bedrooms are carpeted for extra comfort! The garage has a window A/C unit, ceiling fans, and multiple outlets. In the backyard, relax under the covered patio, green grass, or sparkling pool. Move-in ready!!

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