3 Different Types of Loan That Will Negatively Impact Your Ability to Get a Mortgage

3 Different Types of Loan That Will Negatively Impact Your Ability to Get a MortgageA 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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33650 N 69th Street Scottsdale, AZ 85266

$1,799,950
3 Beds
2.5 Baths
2,790 SqFt
Status Active
MLS # 6757674
Property Type Single Family Residence
Price Type --
PHENOMENAL LOCATION WITH GOLF AND MOUNTAIN VIEWS AND A MASTERFUL UPDATE. AND This home is available for purchase as a fully furnished, turnkey property, right down to the ketchup in the fridge and salt in the shakers, ready for you to move in and enjoy. Located steps away from all Terravita's amazing amenities and overlooking acres of lush golf course and PRIVATE mountain views from an oversized extraordinary backyard living sharing a boundry with only one neighbor. The property has been thoroughly renovated and furnished under the direction of a 'Master of the Southwest' awarded from Phoenix Home and Garden Magazine, a designer celebrated for her numerous features in the publication. Her approach was to weave together a design that balances timeless beauty, elegance, and practical living seamlessly throughout the space. This 3 CAR GARAGE Aurora model awes you w/ its distinctive architecture: Soaring 13 ft coffered ceilings, 2 guest bedrooms & den split far from huge master suite, island Kitchen open to family room, walkin pantry, 8' interior doors, art niches, angles, clerestory windows and 2 covered patios to enjoy amazing outdoor living privacy & views. There are far too many fantastic updates and improvements to mention here but here are some: Features include: Desert Modern Southwest Design Location/Views -Close To Club & Amenities -Overlooking 9th &18th Holes And The Driving Range -PRIVATE! -Amazing Sunsets -Only One Neighbor -Great BBQ Views Throughout -Honed Travertine To Matte The Stone -No Carpet In Home -Soft Water -Water Filtration System With Carbon Filter -New HVAC 2021 -Most Art Has Been Purchased At Hidden In The Hills -New Door Hardware -All Lights From Valley Lighting -Roller Shades Everywhere But Family Room -Fiber Optic Cable -Soft Close Cabinets Throughout -Perla Venata Quartzite Throughout -All Appliances Are Wifi Enabled -Undercabinet Lights Throughout -All New Toilets Family Room -Maple Wood Floors -Wave Tile Feature Wall -Gas Fireplace Kitchen -Maple Wood Floors -Belmont Cabinets -Galley Sink In Kitchen -R/O With Cold And Hot -Beverage Cooler On Island -Dishwasher Drawers- Great For Kosher -Kitchen Faucet Touchless Application -Wolf 5 Burner Cooktop -Sub Zero Fridge -Fisher Paykel Dishwasher -Walkin Pantry Primary Bedroom/Bath -Recirc Pump For Primary Bathroom -Bidet In Primary Bathroom -Club Master Shower Heads -Heated Floors In Primary Bathroom -Additional Rooms/Bath -3 Person Office -Powder Bath Has Drawer In Vanity For Storage -Modular Desk- Reconfigure However You Want -Built-In Cabinets -Queen Murphy Bed In 3rd Bedroom -Closet Reconfiguration In Secondary Rooms To Allow More Space In 2nd Bedroom -Powder Room Completely Redone Laundry -Dryer On Top Instead Of On The Bottom Of Lg Stackables -Additional Cabinets and Extended Counter Garage -New Water Heater Oct 2023 -Garage Doors Replaced & Motors Were Replaced -Garage Exterior Door Has Window With Screen For Air Flow -Insulated Garage Door -Storage Exterior -Led Lights On Outdoor BBQ That Under-Mount On Counter Lip -Control 4 To Manage Outdoor Lighting And Surround Sound. (Can Be Used To Manage All Wifi Items In The Home) -New Roof 2020 -Front Courtyard -Your Own Saguaro In Front -Large Heated Pool & Spa -Pool Has All New Digital Guts- Pentair (Most Expensive System You Can Buy) -46,000 Btu Gas Heater Can Heat Pool In Short Amount Of Time. -New Screen Doors -New LED Lights On Exterior Landscaping -Trash Drawer In Outdoor Kitchen And Storage Drawer And Side Burner -Automatic Sunshades On Back Family Exterior -Indoor/Outdoor Living Tons Of Exterior Seating Areas -Built In Bbq -Hole For Umbrella In BBQ, At Spa, Tanning Deck And By Water Feature -Natural Gas Firepit Elevated For Max Heat With Feather Rocks To Hold Heat -Fountain And Waterfall -Kool Dec On Most Patio -Synthetic Turf Grass -Oversized Lot With Wider Side Yards And Much Deeper Backyard Welcome to Terravita - Where Lifestyle is the True Luxury Dear Prospective Homebuyer, If you're considering making Terravita your home, know that you're not just buying a property; you're embracing a lifestyle that's rich, engaging, and brimming with opportunities. Terravita stands as a testament to a community that values experiences, relationships, and personal growth over mere bricks and mortar. Here, the house you buy is simply a gateway to the life you desire. A visit to Terravita's clubhouse and a brief tour of the amenities is essential - it's not just recommended; it's crucial. It is literally what you are buying. If you are just looking for a house, this is likely not the place for you. Dialing 480-488- 3456 can set you on a path to discovering a world where every day is a new adventure. This initial tour is more than just a walkthrough; it's an eye-opener to the vibrant, active lifestyle that awaits you. Many have said that understanding the depth and breadth of Terravita's amenities was a pivotal moment in their decision to join our community. We invite you to take the first step towards discovering if Terravita is the right fit for you. It's not just about finding a home; it's about finding a place where you can live your life to the fullest. The lifestyle you've dreamed of is here, waiting for you to embrace it. Remember, exploring Terravita starts with a tour of our clubhouse and amenities. Make that choice today and open the door to a world where life is rich, full, and wonderfully yours. Terravita is a guard gated 823 acre planned community which consists of many amenities including an 18 hole championship golf course, a 39,000 square foot newly remodeled clubhouse facility with 2 dining areas, a heated Olympic pool with easy beach front entrance and hot tub, 6 tennis courts and a full-time tennis pro, a 13,000 square foot health and fitness center, community-wide 6 mile long walking and jogging trails, and extensive event calendar with fun-filled events for the dozens of social organizations. Terravita Golf and Country Club has been voted Best Master Planned Community and Best Private Golf Club numerous times by Ranking Arizona. Terravita was created by Del Webb and was their first non-age restricted community. Terravita golf course was created by PGA Hall of Fame member Billy Casper and designer Greg Nash. Terravita golf amenities include a pro shop, a large driving range, and four separate areas to practice chipping and putting.

12028 N 80th Place Scottsdale, AZ 85260

$1,799,900
4 Beds
2.5 Baths
2,934 SqFt
Status Active
MLS # 6772749
Property Type Single Family Residence
Price Type --
Own an Updated Home in Beautiful Scottsdale Country Club East 9 gated community. Fabulous Sunset, Starfire Golf Course and Camelback Mountain views. Super convenient mid-Scottsdale Location. Superb Layout at almost 3000 sf. 4 Bedrooms with 4th being in a great location near primary bedroom, creating an owner's suite feel. 2.5 baths. One of the few 3 car garages on the smaller lots. High end kitchen cabinetry in a cook's kitchen with new quartz countertops. Thermador Built in refrigerator with co-ordinated Wine cooler. New large format porcelain tile throughout with new hardwood flooring in primary bedroom. Wonderfully large rooms. Laundry room includes small doggie shower that doubles as a laundry sink and a drop station for electronics! Don't miss this warm and welcoming renovation.

21743 S 140th Street Chandler, AZ 85286

$1,799,900
5 Beds
3.5 Baths
4,081 SqFt
Status Active
MLS # 6759514
Property Type Single Family Residence
Price Type --
Gorgeous custom home, w/ BASEMENT on nearly 2 acres! Discover the epitome of luxury living in this breathtaking 5-bedroom, 3.5-bathroom home nestled on a rare 2-acre lot in Chandler. Custom features throughout include coffered ceilings, custom tile, snail shower, jetted tub, upgraded carpet, tile, stamped & stained concrete floors. Gourmet kitchen with hickory cabinets and large island. Modern kitchen with high-end appliances and plenty of counter space. Open-concept living areas filled with natural light and designed for comfort.This property boasts a perfect blend of sophistication, comfort, and outdoor entertainment, making it an ideal sanctuary for families and entertainers alike. Key Features: 5 spacious bedrooms designed for relaxation and privacy. 3.5 elegantly appointed bathrooms featuring modern finishes. A finished basement offering additional living space, perfect for a home theater, gym, or play area. Bonus Rooms: Two versatile bonus rooms that can be tailored to suit your needsideal for an office, craft room, or guest accommodations. Outdoor Oasis: Dive into your own private paradise with a stunning swimming pool complete with a grotto and waterslideperfect for family fun and entertaining guests. The expansive 2-acre lot provides ample space for outdoor activities, gardening, or future expansion. Detached Garage: An extra detached garage offers additional storage or workspace, ideal for car enthusiasts or hobbyists. Additional Highlights: . Beautiful landscaping that enhances the property's curb appeal. Oversized 3 car garage with custom cabinetry and epoxy floor. Detached 24'x30' shop with 8' rolltop door and 220 amp panel. Custom saltwater pool with rock grotto and waterfall, slide, and in-floor cleaning system. 2 separate pastures for the horses and plenty of room for all the toys. Custom built 40'x50' Barn, with 20' ceilings, and built in loft. Perfect for additional living, storage, or entertaining space. NO HOA! Don't miss out on this rare opportunity to own a piece of paradise in Chandler! Contact us today to schedule a private tour.

19899 E Natalie Way Queen Creek, AZ 85142

$1,799,500
4 Beds
3.5 Baths
4,269 SqFt
Status Active
MLS # 6725556
Property Type Single Family Residence
Price Type --
LAST NEW HOME AVAILABLE!! Brand New Toll Brothers Home Just Completed!! Prime Location and Private Gated Community at Whitewing at Whisper Ranch! Community allows Guest Homes, RV Garages and Casitas to be built on this Large 22,578sq ft Oversized Lot! Home is Located across from the Community Center and Large Greenbelt. Located in Queen Creek AZ with Stunning Multi Million Dollar Homes, Mountain Views, Green Belts, Outdoor Firepits and Covered Sitting Areas! The Home Boasts an attached Casita with Separate Entrance. 14ft Soaring Ceilings in Great Room and Multiple Sliding Walls of Glass Doors create an Expansive Living Space with Natural Light. The Chefs Kitchen with Large Oversized Island is the Heart of this Amazing Home. Book Matched Quartzite in Kitchen and Primary Bedroom is Stunning

000k Bogey Drive Williams, AZ 86046

$1,799,000
3 Beds
3.5 Baths
3,095 SqFt
Status Active
MLS # 6681636
Property Type Single Family Residence
Price Type --
LUXURY AWAITS! All the I's have Been Dotted and the T's are Crossed When It Comes to this This Amazing Nearly 3100 Square Foot 3 Bedroom / 3.5 Bath, Great Room Concept Home on Over 2 Acres. High Vaulted Ceilings, Butler Pantry, Office, Additional Craft Room, Oversized Front and Back Covered Patios, Both Additional Bedrooms are On-Suite Bedrooms, Mud Room, Separate Laundry Room, 2 Air Conditioning, Units, 3 Car Garage and City Utilities. All of this is Conveniently Nestled in the Perfect Location Between Elephant Rocks Golf Course and National Forest. Experience Beautiful Mountain Views with Cool Breezes in the Summer or Listen to the Pop of the Fire as You Watch the Snow Fall in the Winter. Escape to the Trails for Hiking and Biking or Put Your Cowboy Boots on a Go Dancing Downtown.

Bogey Drive Williams, AZ 86046

$1,799,000
3 Beds
2.5 Baths
2,709 SqFt
Status Active
MLS # 6681641
Property Type Single Family Residence
Price Type --
AWESOME FLOORPLAN! You Will Absolutely Fall in Love with This Highly Functional 2700 Square Ft 3 Bedroom / 2.5 Bath, Great Room Concept Home on Over 2 Acres. High Ceilings, Butler Pantry, Jack and Jill Bath, Giant Walk-In Closet, Office, Huge Back Covered Patio, Mud Room, Separate Jack and Jill Laundry Room, 2 Air Conditioning Units, 3 Car Garage and City Utilities. All of this is Conveniently Nestled in the Perfect Location Between Elephant Rocks Golf Course and National Forest. Experience Beautiful Mountain Views with Cool Breezes in the Summer or Listen to the Pop of the Fire as You Watch the Snow Fall in the Winter. Escape to the Trails for Hiking and Biking or Put Your Cowboy Boots on a Go Dancing Downtown. NO HOA! So Start Thinking about Picking Out Your Finishes and Colors Today!

2295 Dragon Fly Lane Lakeside, AZ 85929

$1,799,000
6 Beds
7.5 Baths
7,645 SqFt
Status Active
MLS # 6733991
Property Type Single Family Residence
Price Type --
This one-of-a-kind property, inspired by grand design, offers a private indoor Pool, a separate Guest House, a fully remodeled kitchen equipped with top-of-the-line Viking ranges and a convenient butler's pantry. The expansive layout includes 6 well-appointed bedrooms and 7.5 bathrooms, ensuring ample space for family and guests alike. The residence boasts 5 fireplaces, adding warmth and ambiance to the already inviting atmosphere, in common living spaces as well as private bedroom! The attached guest house offers privacy and comfort, while the master suite provides a sanctuary of luxury with its opulent design. Artistic hardwood staircases lead to a great room with impressive second-level ceilings and a catwalk that overlooks the sophisticated formal dining room and parlor. The property also includes a vast bonus room, perfect for entertainment or leisure activities. The wrap-around covered porch and open sun deck invite residents to enjoy the picturesque sunsets over the lake, adding to the home's charm. Practical features such as the three-car garage with a new Trex-Deck mud porch provide convenience and functionality. With a total of 7,645 square feet, including a 180 square foot pool room, a 693 square foot guest house, a 741 square foot bonus room, and a 665 square foot storage room, this estate is not only spacious but also meticulously planned to accommodate a variety of needs. It stands as an absolute must-see for those who appreciate the blend of adventure and refined living, with the promise of year-round enjoyment in a setting that is both breathtaking and exclusive. What furnishings are there stay with the home. NEW Roof 2023 Screened in porch off of Master FIVE fireplaces Double / 2 sets of washer/dryers Recreational amenities are abundant, featuring an indoor swimming pool complemented by a hand-crafted stone water fountain, creating a tranquil oasis for relaxation. Additionally, The Shores presents a unique opportunity for those seeking a luxurious lifestyle in a gated community, which includes a private boating dock, tennis/pickle ball courts, and a community area. For the 2 Bonus Rooms, there are endless possibilities, including but not limited to:

8685 E Aster Drive Scottsdale, AZ 85260

$1,799,000
4 Beds
3 Baths
3,908 SqFt
Status Active
MLS # 6759496
Property Type Single Family Residence
Price Type --
Spacious, open, floor-plan home in the heart of Scottsdale's Cactus Corridor! 4-Bdrm+Den+Casita. The gourmet Kitchen & Family Rm flows together for ease of casual entertaining. But, hosting dinner parties is a breeze in the formal dining area. Kitchen includes Dacor dbl ovens & gas range/cooktop, Subzero built in refrig, large center island with seating, 2 sinks and custom cabinetry. Wet bar with additional sink. 2 gas fireplaces. Custom shutters throughout. Large primary bedroom and bath with a substantial walk in closet with custom shelving.Exterior paint in 2022. Absolutely gorgeous home with fantastic layout. Light, bright, & spacious. N/S exposure. Minutes away from an abundance of shopping, dining, and golfing with close access to the 101 fwy to get you to anywhere in the valley.

7329 N 173rd Avenue Waddell, AZ 85355

$1,799,000
7 Beds
4.5 Baths
5,380 SqFt
Status Active
MLS # 6769187
Property Type Single Family Residence
Price Type --
Truly remarkable, multigenerational, estate! The tastefully appointed main home offers quality updates throughout. The expansive gourmet kitchen has been completely reconfigured and remodeled and offers a bright and airy eat in nook, upgraded SS appliances, large island, and custom cabinetry. This split level floorplan offers two large bedrooms, full bath, and a large family room with 1 of 2 wood burning fireplaces on the lower level. The main level offers another spacious and bright living area, also with a charming wood burning fireplace, plus additional space for an office or formal dining area. The upper level offers a very large primary retreat with fully remodeled en suite and a large balcony, plus 2 very spacious additional bedrooms and the updated guest bath. Stepping out of the main home you will be greeted with a large covered patio and play area, as well as the sparking pool and spa, completely fenced for added peace of mind. The pool area is conveniently accessed by both the main home and guest home. The beautiful, fully independent, and completely remodeled guest quarters, offers a full eat in kitchen, bath, living area, laundry, and 2 bedrooms. This is a perfect space for multigen living, home office, or even an income producing rental. As if that were not enough to intrigue even the most discriminating buyer, this unique property offers a two car garage as well as covered and gated parking for several oversized vehicles PLUS a brand new septic system, irrigated pastures, and a modest horse set up. Truly all that's missing is you, schedule a showing before it's too late!

2912 E Houston Avenue Gilbert, AZ 85234

$1,799,000
4 Beds
3 Baths
3,600 SqFt
Status Active
MLS # 6769708
Property Type Single Family Residence
Price Type --
Country Paradise hidden in the city! Nestled on over an acre of lush greenery, this stunning 4-bedroom, 3-bathroom dream home is surrounded by 55+ irrigated trees, including mature oaks, ash, and fruit-producing orange, lemon, tangerine, grapefruit, peach, and plum trees. Summers feel cooler amidst the natural beauty. The master suite is conveniently located on the main floor. The recently updated exterior boasts new siding and a redone front porch (2023). Inside, the kitchen shines with white cabinets, soapstone countertops, and a full-sized refrigerator/freezer. The family and dining rooms feature gorgeous wood beams and hardwood floors throughout. A red barn 4-car garage with a 220V outlet and a covered horse stall complete this incredible property. This one is unique come and see it!

8642 E Camino Real -- Scottsdale, AZ 85255

$1,799,000 - 5Br/5Ba -  for Sale in Pinnacle Paradise, Scottsdale
New
$1,799,000
5 Beds
4.5 Baths
3,569 SqFt
Status Active
MLS # 6767390
Property Type Single Family Residence
Price Type --
Check out this amazing opportunity in the heart of Pinnacle Peak! Nestled on over 2 acres, this is one of the rare gems available in the beautiful GATED community of Pinnacle Paradise. Tucked away at the back of the neighborhood, this quiet & private property features a huge fenced backyard, just waiting for your vision. There is an abundance of space in this 5 bedrooms & 4.5 bathrooms home, 4 bedrooms equipped with its own ensuite. The split floor plan includes a spacious primary suite with a bonus room that's perfect for an office or workout space. If you're looking to live or invest in the Pinnacle Peak area, this is your chance! You'll be just minutes away from DC Ranch, Kierland, Scottsdale Quarter, & TPC Scottsdale, with plenty of shopping & dining options nearby. Don't miss out!

3089 S Prospector Circle Gold Canyon, AZ 85118

$1,799,000
4 Beds
3.5 Baths
3,072 SqFt
Status Active
MLS # 6142764
Property Type Single Family Residence
Price Type --
Build your Dream Home in Prospector Village at Superstition Mountain Golf and Country Club. Top of the line Luxury Finishes. Lot 5 (Golf Course Lot). Two single level 3,000+sqft, 3Bdrm + Den 3.5 Bath floor-plans available. Three car garage option. Superstition Mountain Golf & Country Club is a private guard gated community with two Jack Nicklaus courses, magnificent clubhouse, sports club with swim/tennis/fitness and so much more! Built by Landmark Custom Home Builders. Photos are of previous models. Prices are subject to change