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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23216 N 95th Street Scottsdale, AZ 85255

$6,900,000
5 Beds
5.5 Baths
6,517 SqFt
Status Active
MLS # 6695412
Property Type Single Family Residence
Price Type --
Introducing a 6,100+ square foot modern masterpiece designed by Graffin Design Architects, nestled on nearly an acre of land boasting breathtaking mountain and city light views just north of DC Ranch. This home's allure begins with a paver driveway leading to a 3-car garage (with EV charger and dog wash station!), courtyard entry, and a grand pivoting front door. Inside the residence exudes sophistication and functionality, featuring a sleek split floor plan with 4 bedrooms and 4.5 baths on the main level, including a separate principal suite and an attached casita with its own living space. The great room, featuring a large drop down screen and projector, seamlessly flows into the kitchen and dining area, with glass walls that invite abundant natural light and panoramic views. Upstairs, a versatile space awaits, offering a sitting room/bar area, a 5th bedroom/exercise room with a full bath, and a separate view deck with a lounge area, perfect for entertaining. Throughout the home, premium finishes abound, including hardwood and tile floors, a full Wolf Sub Zero appliance package, custom cabinets, porcelain countertops, 8' solid doors, exposed masonry block, and chrome hardware fixtures all enhanced by LED lighting and controlled remotely via Control 4 smart home system. Enhancing the living experience is the seamless integration of indoor-outdoor spaces, where the backyard oasis beckons with a pebble-tec pool and spa, synthetic turf yard with custom xeriscape, and a full outdoor kitchen with built-in barbecue and pizza oven, multiple fireplaces and stunning city light and mountain views. There is also a large enclosed private dog park that could be converted into a play area or golf simulator or whatever dream project you envision! Additional features include a central vac system, owned solar panels, outdoor shower, multiple water features, auto covers for the pool and spa, and a built-in ionized water station in the fitness room. Truly there are too many extras to list here! Discover unparalleled luxury living in this meticulously crafted residence, where every detail reflects the epitome of high-end sophistication and style.

19452 N 98th Place Scottsdale, AZ 85255

$6,895,000
5 Beds
5.5 Baths
6,288 SqFt
Status Active
MLS # 6741408
Property Type Single Family Residence
Price Type --
This exquisite home, beautifully updated and perfectly situated on a prime lot backing to the Reata Wash, is located in the highly sought-after Arcadia Silverleaf neighborhood. It offers breathtaking mountain and city light views while providing the ultimate in privacy and the best of Arizona living. This stunning residence features luxurious modern Spanish details and unmatched, expansive outdoor spaces. With 5 ensuite bedrooms, 5.5 bathrooms, & a bonus room, the home boasts an open, light, and bright floor plan adorned with limestone and hardwood flooring, Cantera stone fireplaces, and a gourmet kitchen equipped with quartz and marble waterfall counters, custom cabinetry, eglomise mirrored glass backsplashes, Sub-Zero and Wolf appliances, two Bosch dishwashers, a butler pantry w with a Sub-Zero wine fridge, and two refrigerator drawers. The spacious laundry room includes ample cabinetry and an ice maker. The private primary retreat offers a sitting room with a cozy fireplace, a coffee/beverage center, his and her closets, his and her water closets, and a grand two-sided entry steam shower. Wine enthusiasts will appreciate the dedicated wine tasting room with a temperature-controlled wine wall that holds 864 bottles, complemented by an additional wine cellar for 212 bottles. The backyard is an entertainer's paradise, perfect for enjoying spectacular Arizona sunsets with a heated pool and spa, serene water features, electric sun shades, an outdoor kitchen, and a wood-burning fireplace. The immaculate oversized three-car garage features epoxy flooring and ample storage cabinets. Recent upgrades to the property include all new HVAC units, updated Pentair pool equipment, an updated lighting system, and two new tankless hot water heaters to ensure modern comfort and convenience. For a comprehensive list of features and upgrades, please refer to the documents tab. This home is truly exceptional and is sure to appeal to the most discerning buyers, with its ideal proximity to shopping, dining, and the 101 freeway. The best of location, luxury, and lifestyle.

7568 N Mockingbird Lane Paradise Valley, AZ 85253

$6,840,000
6 Beds
7 Baths
7,625 SqFt
Status Active
MLS # 6725714
Property Type Single Family Residence
Price Type --
Priced to sell! Mediterranean style home in a highly coveted part of Paradise Valley. Mother in law suite includes its own washer dryer and kitchen along with its own exit to the patio and garage. You're going to love spending time in this oversized master bedroom with spacious sitting area and coffee counter with refrigerator built in making for more convenient mornings. Master bathroom includes makeup area as well as free standing tub with beautiful views into your private backyard. Gorgeous resort style backyard includes gas fireplace that has never been used. Private office with wall to wall built in cabinets and shelves. Sound system has been installed in master, formal living area as well as formal dining area and family room! Pool and spa with roof deck makes sunset/mountain views in your backyard hard to resist. Home includes pantry/prep kitchen and movie theatre as well. House includes an additional room that can be used for flex, gym or yoga depending on your preference. Faux wood beams in the family room as well as dining area. Tesla Solar plus Tesla pack make for an energy efficient and easy to charge home. Too many additional features to list.

8627 E Whisper Rock Trail Unit 120 Scottsdale, AZ 85266

$6,830,000
4 Beds
5.5 Baths
6,295 SqFt
Status Active
MLS # 6561784
Property Type Single Family Residence
Price Type --
Located on one of the finest lots within Whisper Rock Estates, this to-be-built home has been designed with the utmost care and craftsmanship * Craig Wickersham (Architect) & R-Net Custom Homes (Builder) combine to create a timeless, one-of-a-kind masterpiece on a south-facing, 2.7 acre site * Just about 6300 sq ft of livable space, offering an ideal layout consisting of an open living concept, 4 full bedroom suites, gym, media, office, bar and wine room * Zero interior steps, true indoor/outdoor living, 4-car garage and outdoor kitchen complete the design * See the documents tab for details *

10040 E Happy Valley Road Unit 1 Scottsdale, AZ 85255

$6,800,000
7 Beds
9.5 Baths
13,175 SqFt
Status Active
MLS # 6476411
Property Type Single Family Residence
Price Type --
Welcome to Desert Highlands #1! The Epitome of Multigenerational Resort-Style Living. This extraordinary estate, nestled on a sprawling 2.6 acre private cul-de-sac homesite, offers IMMEDIATE full Club membership, providing you with access to a wealth of exclusive amenities. Step onto the pavered, circular drive, and you'll be greeted by a private garden courtyard with lush landscapes, setting the tone for the remarkable lifestyle that awaits. This home underwent a remarkable $6 million total re-imagination in 2019, resulting in a smart, transitional luxury masterpiece. Every detail meticulously curated, and no expense spared to create this stunning residence. Inside the main home, you'll find an array of sophisticated spaces, perfect for hosting large gatherings, as well as comfortable, light-filled areas for casual everyday living. The state-of-the-art features and top-of-the-line finishes make this home truly exceptional. A remarkable value, priced well below pre-listing appraisal. The first level of the main home boasts a formal living room, elegant dining room, four of the five en suite bedrooms, a spacious office, media room, and not one, but two wine cellars. The fifth guest ensuite (on the 2nd level) opens to a private deck featuring down valley views. The chef's kitchen is a delight with upgraded appliances, oversized Sub Zero refrigerator, a Wolf range with six burners and multiple ovens. And let's not forget the Miele built-in plumbed coffee system to kickstart your day in the best way possible. The custom furniture grade cabinetry is not only abundant but exquisitely topped with gorgeous Matterhorn granite, adding to the allure of the kitchen. From the kitchen, you'll find seamless transitions to the light and airy breakfast room and inviting family room, with telescoping glass sliding doors leading to multiple extended covered patios and private gardens, offering magnificent views from every angle. As you explore further, you'll discover the private primary suite, occupying the south wing of the main level. This luxurious oasis features a relaxing sitting area, direct patio access to the pool and spa, and a resort-inspired bath retreat with mesmerizing mountain views from the spectacular blue marble topped jetted tub. Dual custom vanities, water closets, and a generously sized shower with multiple heads complete this lavish bathroom, along with dual custom walk-in closets. On the other side of the home, beyond the 50' gallery, Desert Highlands #1 offers a large and spacious casita. Thoughtfully designed with privacy in mins, its single-level layout ensures easy accessibility for those who prefer a step-free environment. The casita features its own private courtyard entrance, allowing guests to come and go as they please without intruding on the main living areas. The well-appointed guest casita offers tranquil living space, a full Wolf/Sub Zero kitchen, two en suite bedrooms with personal patios, private laundry room and an attached garage. Beyond the diving pool, a true entertainer's paradise awaits with a 2,576 square foot fun-filled cabana. This vibrant space boasts a full-sized kitchen, a massive wet bar, four wall-mounted TVs, and game room . The cabana opens up to the pool area with automated telescoping sliding windows, overlooking the swim-up bar. And for a unique experience, the Dive-In movie screen is stored above the swim-up bar, allowing you to enjoy your favorite films while relaxing in the pool. The primary home, guest casita, cabana, and ramada seamlessly encircle the backyard retreat, creating a completely private oasis. The outdoor living space is unlike any other, featuring an expansive heated pool, spa, three gas fire pits, two waterfalls, misters under the ramada for added comfort, a water slide, custom outdoor kitchen and a swim-up bar! You can also indulge in a huge conditioned gymnastics space, complete with a trampoline, tumble track, and foam pit, complemented by a convenient full bathroom. The home is fully automated with Control 4 technology, offering modern convenience in the heart of the Sonoran Desert. For the car enthusiasts, there is a possibility of 12+ parking to accommodate your prized collection. Desert Highlands Golf Club, a private guard-gated community, provides an idyllic setting for this exceptional estate. As a resident, you'll have access to an 18-hole Jack Nicklaus Signature course, a Gary Panks designed 18-hole putting course, a 7,700 sq. ft. state-of-the-art fitness center, 13 tennis courts with various surfaces, pickle ball courts, fishing pond, dog park, and a meandering walking/biking path throughout the community. After enjoying these amenities, unwind at Jack's Pub or indulge in formal dining at the Ventana Dining room. Welcome to your new home at Desert Highlands #1, where the possibilities for luxury living and unforgettable experiences are endless.

9810 N 57th Street Paradise Valley, AZ 85253

$6,799,000
6 Beds
5.5 Baths
7,379 SqFt
Status Active
MLS # 6771812
Property Type Single Family Residence
Price Type --
Welcome to Ivy Manor—a 7,379 sq ft brand-new construction masterpiece by UR Development's in-house team THIS HOME WILL BE COMPLETED NEXT MONTH! Inspired by Old World design with contemporary finishes, this luxurious estate is nestled in the highly sought-after Paradise Valley. With a spacious, usable lot, there's ample room for an elegant courtyard or even a tennis court. This stunning home features six bedrooms, five and a half baths, and a guest house for ultimate privacy. High-quality appliances and premium materials, including stone finishes and engineered hardwood floors, elevate the quality of living. The master bedroom offers complete seclusion with a split floor plan, blending traditional elegance with modern luxury throughout.

4000 E Granite Dells Road Payson, AZ 85541

$6,750,000
2 Beds
2 Baths
5,340 SqFt
Status Active
MLS # 6773310
Property Type Single Family Residence
Price Type --
Discover the ultimate getaway on 80 acres of breathtaking beauty; this majestic land offers endless possibilities. Surrounded by National Forest on all 4 sides, solitude and beauty abound with mountains and lush, tree-lined areas. A serene escape perfect for outdoor fun and adventure, yet only a short drive to the center of Payson, or a mile walk to The Rim Club. All utilities in place, including a private well, APS switching station and multiple transformers for future residential development. Special use permits could be obtained for events like weddings or corporate retreats. Forest access, abundant wildlife, internal trail system combine secluded tranquility. Includes a detached clubhouse/garage for storing toys and entertaining. Inside is also a recreational bunk house. The home is designed by popular architect Jack DeBartolo with modern architecture as to incorporate the home into the beauty of the property. Pool house and work barn are additional structures with added value depending on desired use. Pool house can be converted to single family home. Other notables: Roughly 25 acres of very flat land. Years ago, this property was designed for 38 custom lots as part of a high end equestrian facility. Massive infrastructure upgrades include but aren't limited to: Private well with 5,000 gallon storage tank and multiple pressure tanks. Water has been piped over ½ mile to both ends of property. APS switching station with multiple transformers for possibility of over 15 homes. Road system created within entire property Extensive grading and drainage to minimize the effects of seasonal runoff and erosion. Internal trail system Solo access to Forest Service gate on Granite Dells Road. Extensive front wall and gate on West entry of property.

10080 E Filaree Lane Scottsdale, AZ 85262

$6,750,000
5 Beds
6 Baths
6,700 SqFt
Status Active Under Contract
MLS # 6709946
Property Type Single Family Residence
Price Type --
Golf Membership Available! Welcome to an unparalleled living experience in the prestigious Desert Mountain Village of Mountain Skyline, Lot 71. This exclusive property offers a unique opportunity to own a contemporary masterpiece designed by Beau Graffin and built by the renowned Black Stone Custom Homes. Nestled amidst the serene beauty of the Sonoran Desert, this luxurious new build is perfectly situated to capture breathtaking mountain views, providing a tranquil backdrop for your daily life. Spanning 6,700 square feet, the thoughtfully designed split floor plan ensures privacy and comfort for all residents. The master suite, office, and Flex room/Game Room/Junior Master are conveniently located on one side, while three spacious guest ensuites occupy the other, offering the perfect blend of togetherness and solitude. The heart of the home is the expansive great room, featuring walls of glass and multi-slide door systems that seamlessly connect the indoor and outdoor living spaces. Indulge your culinary passions in the gourmet kitchen, equipped with the latest high-end appliances, scullery room, and sleek, modern finishes. From there, step out to the enormous patio space, where you can enjoy the pool, spa, and cantilevered metal covered outdoor kitchen with bar seating, outdoor lounge, TV, and dining area, and firepit all located along a desert wash adding privacyideal for entertaining guests or unwinding in the desert breeze with sunset, mountain and city light views! Plenty of storage for cars or outdoor adventure gear in the 5 car garage. Pre construction opportunity, there is still time to personalize the finishes and make this home truly your own. Whether your style leans towards sleek minimalism or cozy rustic touches, our team is here to bring your vision to life. The property comes with a coveted golf membership, granting you access to the finest amenities Desert Mountain has to offer. An exclusive opportunity awaits the new buyer to enjoy an updated rental property nearby during the construction of their new home, they will have the privilege of residing in this charming home, rent-free. This unique arrangement not only offers the convenience of a temporary residence but also provides the chance to immerse oneself in the serene ambiance of the Sonoran landscape. Explore over 20 miles of multi-use trails, perfect for hiking and biking. Tee off at one of seven world-class golf courses, each with its unique challenges and stunning views. For dining and socializing, the nearby clubhouses, including Chiricahua and Cochise Geronimo, offer gourmet cuisine and a variety of social events. Stay active at the Sonoran community fitness facility or indulge in a relaxing spa treatment at the Desert Mountain Spa. Desert Mountain boasts seven clubhouses and seven golf courses, ensuring endless options for leisure and entertainment. Whether you're seeking outdoor adventure, culinary delights, or a peaceful retreat, this community has something for everyone. Don't miss out on this rare opportunity to create your Desert Mountain dream lifestyle. Schedule a private tour today and experience the unmatched beauty and luxury that await you in the heart of the Sonoran Desert.

9820 E Thompson Peak Parkway Unit 732 Scottsdale, AZ 85255

$6,750,000
4 Beds
4.5 Baths
6,596 SqFt
Status Active Under Contract
MLS # 6671519
Property Type Single Family Residence
Price Type --
Discover luxury living in this meticulously crafted 5-bed, 4.5-bath, 6,596 sq ft custom home. Elegantly renovated by renowned experts Lissa Lee Hickman Design, and Salcito Custom Homes, this residence is nestled on a cul-de-sac lot along the 17th and 18th fairways of the DC Ranch Country Club Golf Course. Enjoy breathtaking panoramic views of the golf course, city lights, and majestic mountains. Privacy is paramount in this exclusive property, featuring a 640 sq ft guest casita and an added climate-controlled 4th garage. For a seamless transition, most furniture and furnishings are available through a separate bill of sale. Welcome to a world of refined style and unparalleled sophistication.

8822 E Chino Drive Scottsdale, AZ 85255

$6,750,000
5 Beds
6 Baths
5,565 SqFt
Status Active
MLS # 6758786
Property Type Single Family Residence
Price Type --
Welcome to 8822 E Chino Drive.This North Scottsdale elegant estate is perfectly situated on 1.5 acres creating a home that enjoys resort style living, complete privacy & exquisite McDowell Mountain views. The home was originally built in 2017 and has been totally reimagined and redesigned in 2021 creating a modern and elegant timeless estate, with seamless indoor/outdoor living spaces in a peaceful Zen like setting. The gourmet kitchen with Wolf and Sub-Zero appliances will compliment any chef, with a large island that is open to the dining and coffered ceiling living room with 60 inch linear fireplace, creating an elegant space which is perfect for family gatherings and entertainment. This is also a smart home, operated by using an app or your voice: Lights, TV, Music, and Fireplaces can all be turned on by the time the garage door opens. The home is also equipped with solar. The primary suite is split from other bedrooms offering complete privacy, the linear fireplace will set the mood for any occasion. Enter the spa-like En-Suite marble bathroom with luxurious closets. A master patio with gas burning fireplace completes the Primary bedroom experience. Entertaining in this home is a delight with the 20-foot panoramic sliding glass doors leading to the exquisite white limestone patios, a resort-style pool, and a spa with a backdrop of McDowell Mountain views. How about a game of pickleball, you have your very own flood-lit sports court and your own private putting green to practice your putting skills. It truly is a one-of-a-kind luxurious resort. No detail or expense was withheld on this superior one-of-a-kind remodel. Custom furnishings professionally designed can be available via a separate bill of sale, this can be a turn-key investment, just bring your personal items and enjoy.

27643 N 113th Place Scottsdale, AZ 85262

$6,700,000
6 Beds
9 Baths
10,766 SqFt
Status Active
MLS # 6725873
Property Type Single Family Residence
Price Type --
Enter a world of luxury and sophistication with this breathtaking masterpiece of design. Nestled on nearly 4 acres of private gated land, this expansive home offers unparalleled elegance and exceptional amenities. The residence has 2 levels: the main level consists of a grand foyer entrance, a formal dining room, an office, a gourmet kitchen with eating area and an opulent great room with high ceilings. There is a private wing for the master suite with 2 master baths & closets! The opposite side has 4 bedrooms each with an ensuite & patio, there is a powder room plus a game room and bar area.The lower level features a large theater room and separate guest house with a bedroom, living area and kitchen. There is an elevator from the 8 car garage to easily access the main level. The outdoor living space is truly a personal oasis with a large covered patio, a stunning heated pool / spa featuring a swim up bar and water slide, full sized tennis court / basketball court, a ramada, a playground, lush landscaping and accent lighting. This estate is more than a home, it's a lifestyle designed for both grand entertaining and serene relaxation. Welcome to your new paradise! FYI: New roof, 3 new AC units, new wood flooring in all bedrooms and game room, there is a laundry room and also a W/D in one of the master closets - this home has it all!

6814 E Joshua Tree Lane Paradise Valley, AZ 85253

$6,700,000
5 Beds
5.5 Baths
5,487 SqFt
Status Active
MLS # 6757066
Property Type Single Family Residence
Price Type --
A unique opportunity to own in Paradise Valley's most sought-after guard-gated community...Ritz Carton-adjacent Azure! This is the largest & best of the best lots positioned on a pie-shaped exterior corner parcel w/ mountain views & privacy. The epic back yard takes full advantage of the space w/ a dramatic pool, architecturally special ramada, elevated deck w/ a fire feature, 2 spas & lots of turf....your own lock 'n leave resort! The sophisticated interior finishes include gorgeous hardwood floors, lacquered & rift-cut oak cabinets, high-end custom lighting & leathered stone counters. The floor plan allows for privacy & comfort w/ 3 bedrooms in the main house & 2 guest casitas. Walk to the Ritz Carlton & the future Palmeraie shopping centre w/ world-class shopping and restaurants.