A good credit rating is built on a number of financial factors including paying your bills on time and the length of your credit history, but loans can also be a source of bolstering your credit score in a positive way. While this means that loans can actually be a good thing, there are also the kinds of loans that can have a damaging impact on acquiring a mortgage. If you’ll soon be pursuing your own home purchase, here are some loans that may have a negative impact.
Borrowing For Education
When you are young, student loans are an ideal means of paying down your debt and developing a positive credit history. However, if these loans are left to linger they can have a marked effect on your chances of a mortgage approval. Since paying back your student loans will be one of the first times in your financial life that you’ll be able to prove your reliability, you should ensure you pay them on a consistent basis in order to lower your overall debt-to-income ratio.
Credit Card Debt
Many people don’t think of the purchases that go on their credit card as loans, but the money on your credit card does not really belong to you until it’s paid off. While credit cards can be a great boon for establishing your credit in the early days, if you rack up a lot of credit card debt and do not pay your minimum payments by the due date, it will cause a considerable dip in your credit score. In addition, taking on too many cards can be a negative signal to lenders.
Payday Loans
In recent years, payday loans have sometimes been broken out separately from other loans on a person’s credit report. However, unlike many other types of loans, payday loans can be seen in a bad light by lenders because they can be indicative of someone who’s experienced significant financial setbacks, which would negatively impact their ability to pay a mortgage. While some mortgage lenders will not decline an application due to payday loans, some have already started to take this step.
Acquiring loans can be a good means of developing a credit history, but there are types of loans that may look bad on your mortgage application and won’t be of service if you can’t pay them off consistently. If you’re considering submitting a mortgage application, give me a call for more information – J.P. Cook – 602-320-4253.
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10532 N 128th Place
Scottsdale, AZ 85259
$1,805,900
3
Beds
3.5
Baths
3,228
SqFt
Status
Active
MLS #
6646495
Property Type
Single Family Residence
Price Type
--
New home to be built in the Shea corridor. Aura is a gated neighborhood of 12 contemporary homes. This Essence model starts at 3,228 square feet with 3 bedrooms, 3.5 bathrooms, plus den and club room. The modern custom kitchen is a chefs dream with Wolf/Sub Zero appliances. The owner's retreat is a spa experience with dual sinks, free-standing tub, and walk-in shower. Pool and landscape is not included in price.
19360 N 73rd Street
Scottsdale, AZ 85255
$1,804,000
3
Beds
3.5
Baths
2,957
SqFt
Status
Active
MLS #
6772677
Property Type
Apartment
Price Type
--
Belgravia Group presents Atavia, a private gated community of 88 luxury condominiums coming soon to North Scottsdale. Atavia blends the breathability of single-family living with the carefree convenience of condominium ownership. Designed by award-winning international architecture firm KTGY, with a clubhouse inspired by Frank Lloyd Wright's iconic Taliesin West. Atavia is perfectly situated at the Loop 101 and Scottsdale Rd within the One Scottsdale masterplan development. Each exceptional home features a private entry with 2 car garage, Italian kitchen cabinetry, Sub-Zero and Wolf appliances, 1 ¼'' quartz counters, and wood floors throughout main living areas. Residence F has a private in-home elevator and a 570 sf private rooftop deck with a louvered pergola and porcelain pavers.
Sonoita
AZ 85637
$1,800,000
4
Beds
4
Baths
2,747
SqFt
Status
Active
MLS #
6760926
Property Type
Single Family Residence
Price Type
--
Discover Your Equestrian Oasis in Sonoita, Arizona Nestled just 30 minutes from Tucson, this stunning 20-acre horse ranch in Sonoita offers the ultimate in secluded luxury. Perched at an elevation of 4,998 feet, the property boasts breathtaking views of the surrounding mountains and a prime location in Arizona's renowned wine country which has some of the best wine outside of France. Equestrian Paradise. Horse enthusiasts will delight in the spacious 240 x 110 riding arena, 16 covered stalls, and 10 lush grass paddocks. Whether you're training your beloved horses or simply enjoying the tranquility of the countryside, this property has everything you need. Main Residence. The main residence is a masterpiece of modern design, featuring bamboo floors, exotic granite countertops... and a recently added primary bedroom with a black basalt feature wall, Viscount granite, and a private walkout balcony. The second primary bedroom offers stunning views of the property from its lookout window. Casita. The charming casita provides a perfect guest house or rental opportunity. With its picturesque mountain views and transom windows, this cozy space offers a peaceful retreat. Unparalleled Location.Enjoy the best of both worlds with easy access to the vibrant city of Tucson and the serene beauty of Sonoita. Explore nearby Patagonia State Park, known for its camping, trails, and lake, or indulge in the region's world-class wineries. For birdwatchers, the Patagonia-Sonoita Creek Preserve is a must-visit as it is the hotspot of the southwest. Live the Dream. This exceptional property offers the perfect combination of luxury, natural beauty, and equestrian amenities. Whether you're seeking a private retreat or a thriving equestrian business, this off-grid horse ranch is an ideal choice. Buyer is aware some MLS photos have been staged for marketing purposes.
38306 N 108th Street
Scottsdale, AZ 85262
$1,800,000
5
Beds
5
Baths
5,217
SqFt
Status
Active
MLS #
6752636
Property Type
Single Family Residence
Price Type
--
PRICED AT JUST $345 / sq. ft....THE LOWEST IN GATED MIRABEL VILLAGE!!!! Discover contemporary comfort in N. Scottsdale's gated Mirabel Village. This Monterey home has 5,217 sq. ft. open-concept & split floor plan on main level seamlessly connect the chef's kitchen, featuring stainless appliances, a walk-in pantry and a butler's area, to inviting living spaces. The main level includes a spacious owner's suite with a fireplace, two ensuite bedroom, & a charming gated entry courtyard. For outdoor enthusiasts, you are close to hiking, biking & boating at Bartlett Lake. Just a mile from Desert Mountain & Mirabel golf communities, minutes from downtown Carefree & Cave Creek, this home also offers a versatile loft, balconies with stunning views, fresh paint, new light fixtures & 2 two car garage
6338 E Amber Sun Drive
Scottsdale, AZ 85266
$1,800,000
4
Beds
3.5
Baths
3,033
SqFt
Status
Active
MLS #
6760678
Property Type
Single Family Residence
Price Type
--
This rare expanded Nimbus model in Terravita on a 15k sf lot, is upgraded and wrought with contemporary SW style! Soaring ceilings and backyard views greet you upon entering from a private courtyard with casita access. In the kitchen: convection oven/microwave, warming drawer, built-in refrigerator & island gas cooktop. Wet bar, formal dining/living and screened/covered patio atop travertine pavers, surrounded by desert plantings worthy of botanical gardens, all make for great entertaining. Black Mtn views from the hot tub, outdoor fireplace, and heated lap pool with deck jets. Backyard access from the primary suite, with dual closets, copper soaking tub and designer touches. Expanded casita makes 2nd office, fourth bedroom, or gym space possible. Welcome to N Scottsdale gated perfection!
6710 E Rockaway Hills Road
Cave Creek, AZ 85331
$1,800,000
4
Beds
2.5
Baths
3,262
SqFt
Status
Active
MLS #
6770674
Property Type
Single Family Residence
Price Type
--
Stunning Custom Home on Over 5 Acres-Experience the beauty of desert living in this stunning custom home, perfectly situated on over 5 acres with panoramic mountain views. Designed to embrace the scenic landscape, the backyard is your personal desert retreat, featuring a negative edge pool, spa, and ample space for outdoor relaxation and dining under the stars. Step inside to a grand entry that leads to a functional kitchen and breakfast living room, complete with a stacked stone fireplace. The primary bedroom and bath serve as a true owner's retreat, boasting a spa-like atmosphere with a soaking tub and a spacious walk-in closet. Enjoy spectacular views from the formal dining room, enhanced by a two-sided fireplace shared with the living room. An upstairs studio offers amazing views, making it an ideal space for creativity or guests. This unique property combines tranquility and beauty, providing the perfect escape. For car enthusiasts, the oversized 4-car garage is a mechanic's dream, while the property also includes a large covered stall with a shed/tack room, perfect for equestrian needs and ready for expansion. Don't miss your chance to make it yours!
12696 Rustic Cabin Trail
Parks, AZ 86018
$1,800,000
3
Beds
2.5
Baths
2,915
SqFt
Status
Active
MLS #
6777262
Property Type
Single Family Residence
Price Type
--
Experience the ultimate mountain lifestyle in this one-of-a-kind, custom-designed Pioneer Log Home crafted by renowned architects in Hamilton, Montana. Nestled in the woods and backing directly onto National Forest land, this property invites you to live the outdoor lifestyle you've always dreamed of, whether you're exploring the forest on horseback or cruising the trails with your outdoor vehicles. Plus, with its prime location and luxurious features, this home offers excellent VRBO potential, making it a great opportunity for those seeking a successful vacation rental. The expansive Trex decking with cedar railing stretches the entire East side of the home, offering both covered and open areas to relax and soak in the breathtaking, unrestricted views of the San Francisco Peaks. Kendrick Mountains. On the West side, you'll find a fenced-in area perfect for horses or other outdoor activities, with a paved road providing easy access to your forest retreat. Inside, discover a stunning Malipi rock, floor-to-ceiling fireplace in the living room, a luxurious primary bedroom, spacious guest rooms with a Jack-and-Jill full bath, and a separate laundry/mudroom with a slate floor. The fully equipped kitchen is perfect for entertaining after a day spent in nature. This home is more than just a retreatit's a lifestyle where mountain living, adventure, and luxury meet, with the added benefit of VRBO success for additional income.
1733 S Sugarloaf Road
Cornville, AZ 86325
$1,800,000
1
Bed
1
Bath
1,399
SqFt
Status
Active
MLS #
6767899
Property Type
Single Family Residence
Price Type
--
Beloved Gardens: An Oak Creek Waterfront Creative Haven of Internationally Known Artists. Step into the enchanting world of Beloved Gardens, a cherished Oak Creek frontage artistic sanctuary nestled in the heart of a picturesque landscape with three notable buildings and 2 more ready to complete. Years of love have added the lush gardens that prompted the name of this place. This 3.77-acre oasis is a testament to the artists' creativity, passion for nature, and artistic vision. Zoned for horses and livestock, this property offers endless possibilities for those seeking a peaceful retreat or a place to connect with nature and water. Immerse yourself in the world of Beloved Gardens, where art, nature, and creativity converge in a harmonious symphony. Discover the magic that has inspired many artworks and experience the transformative power of this unique space and be transported to a realm where beauty and artistry intertwine in perfect harmony, surrounded by the soothing sounds of Oak Creek and the abundance of nature. Features: - Lush gardens teeming with mature and productive fruit trees, including apples, apricots, peaches, pistachios, paw paw, persimmon, jujubes, white mulberries, black bamboo, and red hawthorne - Serene and inspiring surroundings that have served as a muse for artistic endeavors - Thoughtfully designed outdoor spaces that invite contemplation, creativity, and connection with nature - A harmonious blend of art and nature, with sculptures and installations dotting the landscape - Sustainable practices integrated into the garden's design, reflecting the Kleins' commitment to environmental stewardship - A place of beauty and inspiration that has captivated visitors and art enthusiasts alike - A testament to the owners' love for the land and their dedication to creating a space that nurtures both the soul and the senses Additional Features: - Property sits has 220 feet of Oak Creek frontage on both sides (440 ft total) offering a tranquil and picturesque setting with plentiful fish, wildlife and seasonal fireflies. - Two wells and a hand pump provide ample water supply for the gardens, ensuring the lush vegetation thrives - Two 3,000-gallon holding tanks store water for irrigation, allowing for sustainable water management practices -400 amp electric service to handle high electrical loads for multiple buildings - A root cellar adds a touch of rustic charm and practicality to the property, providing storage for produce and other essentials - 2 chicken coops with roosts and feeders to house dozens of chickens - Sheep pen with shelters and feeder Current Buildings on the Property: - A flex building of 414 sq feet with a bathroom, offering versatile space for various uses - A 248 square foot straw bale building, adding a touch of rustic charm to the property - A 185 square foot art studio, providing a serene space for artistic expression - A 1399 square foot earth ship home with an attached 180 sq ft greenhouse, blending sustainability with unique architectural design By investing in Beloved Gardens you have the opportunity to capitalize and secure a property with built-in equity. With the potential for the two additional auxiliary buildings to be completed, adding significant value to the property, buyers can further enhance their equity position. This unique opportunity to purchase a property below market value and potentially increase its worth through development makes Beloved Gardens a compelling investment choice. Analysis: By purchasing this property at $1.8M, you are buying equity with the potential for up to a 10% under market value. With the completion of the two additional auxiliary buildings -one is a 3 bed 2 bath 2000 sq ft. modern home with engineered design completed and an additional 3,200 sq.ft + ready to go building - the property's value and amenities will be significantly enhanced to an estimated value of $2.6M, making it a lucrative investment opportunity. The serene setting on Oak Creek adds to the property's appeal, offering a one of a kind opportunity for a tranquil and picturesque backdrop for all creative endeavors and the nature-inspired living.
39839 N Spur Cross Road
Cave Creek, AZ 85331
$1,800,000
3
Beds
3
Baths
2,785
SqFt
Status
Active
MLS #
6771434
Property Type
Single Family Residence
Price Type
--
Enjoy privacy and expansive views in every direction from this beautiful 6.23-acre equestrian property. Located just minutes from Cave Creek, a quaint little western town that bustles with restaurants, shops and numerous amenities. This property is close to Spur Cross Ranch Conservation Area with a riparian area and Elephant Butte which offer trails for hiking, biking, trail-riding and exploring. A lovely courtyard sets the stage for this 2,785 sq ft, single story home that has been thoughtfully updated and impeccably maintained. This house enjoys lots of natural light throughout and lives large with allocated spaces for everyone. There is a designated living room and dining room, 3 spacious bedrooms and 3 fully remodeled bathrooms. The updated kitchen anchors the home
600 N Redbud Circle
Payson, AZ 85541
$1,800,000
4
Beds
5
Baths
3,390
SqFt
Status
Active
MLS #
6778570
Property Type
Single Family Residence
Price Type
--
Amazing single level beauty in the prestigious community of Chaparral Pines awaits you. This 4 bedroom, 5 bath, oversized 3 car garage sits on 1+ acre at the end of a cul de sac and has all the bells and whistles one would expect in a high quality home built by WTM Construction. Wonderful driveway to the home and large back patio and walk walkways are all done in pavers and the landscaping is meticulous. Upon entering the home through the French doors is an charming foyer leading into an open floor plan of great room with ceiling to floor stone gas fireplace and fantastic kitchen with a large breakfast bar, walk in pantry, Wolfe gas cooktop, gorgeous granite and so much more. Floor plan is split and all bedrooms have their own private baths with walk in closets. Great room, master bedroom, separate dining area, and office all have beamed ceilings. Flooring is engineered hard wood throughout with tile in all the wet areas. Patios all have T&G porch lids and wrought iron railings. Oversized garage has epoxy flooring and built in cabinets. This stunning home is energy efficient and has ceiling fans throughout, a propane tankless water heater, and a soft water system. The back yard is very treed and offers privacy and tranquility. Storage and cabinets galore. This home is a must see! Too many upgrades to mention.
17117 W Dale Lane
Surprise, AZ 85387
$1,800,000
3
Beds
2.5
Baths
2,659
SqFt
Status
Active
MLS #
6648276
Property Type
Single Family Residence
Price Type
--
Country living in the city. Beautifully maintained home on 2.73 acres. Additional parcels included in this sale total 7.3 acres. Open floor plan, extra large 3 car garage. Entertain from beautiful bar onto back patio with an observation deck for outstanding views. 9 horse mare motel, large stuccoed conex building work shop and tack room. Complete 300x160 approx arena is negotiable in sale. RV hook ups
37218 N 29th Avenue
Phoenix, AZ 85086
$1,800,000
4
Beds
4.5
Baths
7,700
SqFt
Status
Active
MLS #
6689775
Property Type
Single Family Residence
Price Type
--
Spectacular one of a kind hill top home on approximately 2.8 acres. Unobstructed views in all directions. Words can not describe this property. Gated and secluded location. 4 BR, 4.5 Baths plus 4 additional rooms that can be used for an office, exercise room, theatre etc. Built in BBQ w/ firepit. Large upper deck and lower outdoor patio. Detached Ramada for more views. Granite counters, stainless steel appliances, gourmet kitchen, stone/wood floors, walk in pantry, oversized 4 car garage and much more. Secluded feeling yet close to shopping and schools. 20 minutes to Lake Pleasant and easy access to I-17 and the 303 corridor. Owner/agent