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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5700 E Sanna Street
Paradise Valley, AZ 85253
$6,675,000
5
Beds
4.5
Baths
5,150
SqFt
Status
Active
MLS #
6691880
Property Type
Single Family Residence
Price Type
--
Experience luxury living in this meticulously crafted single-level home situated on the serene backdrop of a lush golf course. Step into luxury as you enter through the grand courtyard, setting the tone for the lavish lifestyle within. Boasting four spacious bedrooms, four and a half bathrooms, a den, and a separate office, every corner of this home exudes space and sophistication. The heart of the home features a gourmet kitchen updated with high-end appliances, making culinary endeavors a delight. Entertain guests in the expansive living room, or indulge in leisurely evenings at the full bar, perfect for hosting unforgettable gatherings. Outside, the backyard beckons with resort-style amenities, including a sparkling pool and an outdoor kitchen. With its seamless fusion of indoor kitchen, perfect for embracing the Arizona lifestyle. With its seamless blend of indoor and outdoor living, this home is a sanctuary of comfort and entertainment with breathtaking golf course views. Don't miss the chance to experience this unparalleled oasiswatch the video!
36700 N Lone Eagle Point
Carefree, AZ 85377
$6,600,000
5
Beds
6.5
Baths
6,435
SqFt
Status
Active
MLS #
6771399
Property Type
Single Family Residence
Price Type
--
Majestic hillside masterpiece, with endless views of the mountains and city lights below of Scottsdale and Carefree! Upon entering this custom home, you are immediately at one with the layout, interior finishes, and amazing views. Perfectly sited on 2.7 acres, blending naturally with the massive boulders, the Sonoran Desert, and offering privacy and views in every direction. The unique crescent shape of this home resulted from an extremely narrow buildable area and the steep incline of Black Mountain. The home was designed & built using sophisticated and expensive commercial building techniques, with natural masonry and steel framing that minimized site disturbance. The foundation is actually integrated with the granite boulders & bedrock that is unique to the East side of Black Mountain. Carefully chosen natural cut stone, color-matched stucco, and patina copper enable the home to truly blend with the boulder-laden landscape. Careful use of eco-friendly sustainable materials such as bamboo wood floors laid over a cork substrate for a durable surface that eliminates any sensory disturbing echo within. Low level VOC paint and LED lighting compliment the many other eco-conscience decisions that went into building this home. As with any well planned and technically difficult project, this one-of-a-kind custom home took numerous years to build, and it would be impossible to build today for this offering price. There will never be another one like it, and it can truly be a legacy home passed through generations!
Sedona
AZ 86336
$6,500,000
4
Beds
6
Baths
8,627
SqFt
Status
Active
MLS #
6596238
Property Type
Single Family Residence
Price Type
--
Indulge in luxury and tranquility backdropped by panoramic Red Rock Views at 130 Hidden Meadow Drive. An iconic Sedona Haven, ideally situated on an elevated 1.71-acre lot backing to National Forest and residing in the prestigious neighborhood of Solitude at Seven Canyons. Tucked behind the two gates, this European Villa-style estate offers a private and secluded oasis simply a step above the rest. Meticulously crafted by skilled artisans with recently added conveniences & lifestyle upgrades, the level of craftsmanship and attention to detail is evident throughout. Designed by award-winning architect Terry Kilbane with the interiors designed by Tim Hawkins and constructed by Phil Morris. Enter through the private courtyard to the grand foyer featuring... ...antique Spanish Andalusian tile floors and a circular staircase. Main level living areas include the decadent living room, the formal dining room with dual wine cellars, a recently remodeled gourmet kitchen and a family room all connected to the outdoor terrace with stunning views from every window. The sprawling primary suite is also located on the first level and features a fireplace, access to three private courtyards, custom hand-painted cabinetry, marble and onyx countertops, dual walk-in closets, a separate dressing room, two water closets, separate tub/shower and an outdoor spa. The remainder of the first level offers an executive office/den, laundry room, workout/storage room, and a breezeway to the well appointed attached guest house perched above the three car garage. Take the elevator upstairs where each space has access to a private balcony. You'll appreciate the split floor plan with two en-suite bedrooms, media room & library. Embracing the Sedona Lifestyle, this property creates a peaceful equilibrium with outdoor living just as elaborate as the home itself. Centered around the negative edge pool, newly added outdoor kitchen, and numerous private courtyards, covered patios and sundecks with water features and fountains that beckon you to enjoy Sedona's mild four seasons. Each space is beautifully landscaped and accentuates the panoramic Red Rocks Views. Interior showcases custom doors and windows, French chandeliers, antique limestone fireplaces, Austrian hand-forged metal work, custom cabinetry throughout, and beautiful Spanish marble and French Oak floors. Additional amenities include Butler's pantry, technology conveniences from WiredUp, automatic draperies in the Media Room, radiant in-floor heating, an elevator, and a half bath on each level. See the list of features attached. This property sale includes a Resident's Membership to Seven Canyons Golf Club (A value of $75k+. Ask for details and transfer fee). Every aspect of this exclusive community embodies exclusivity and sophistication. Offering privileges to golf, clubhouse, restaurant, fitness center, pool, and access to Enchantment Resort. Only 5 miles to all other Sedona services. Book a private tour to experience the grandeur of this unique estate and luxury lifestyle in a one-of-a-kind setting.
24046 N 126th Place
Scottsdale, AZ 85255
$6,500,000
4
Beds
4.5
Baths
5,476
SqFt
Status
Active
MLS #
6717169
Property Type
Single Family Residence
Price Type
--
New gated community by Camelot Homes... Featuring sweeping mountain vistas and pristine desert surroundings, Shadow Ridge is the ultimate Scottsdale sanctuary. Boasting spacious lots, this follow-up to our award-winning White Horse and Bronco communities combines bright, contemporary design with timeless indoor-outdoor appeal, all in a highly desirable location a stone's throw from Tom's Thumb trailhead. **Home is offered with an 18-month leaseback, and 3-1 Month extensions (if needed).
11070 E Rolling Rock Drive
Scottsdale, AZ 85262
$6,500,000
5
Beds
5.5
Baths
7,276
SqFt
Status
Active
MLS #
6678211
Property Type
Single Family Residence
Price Type
--
Sitting at the top of Sunset Canyon this classic home with modern and Tuscan flavor is sure to amaze with incredible views, private cul de sac lot, amazing guest house/ private office, theatre room option, and two separate game/family, or exercise rooms. Oversized garage space with elevator to the main floor. Main floor living with chef's kitchen, family room, wet bar, primary bedroom suite and powder room. Additional bedrooms and multi purpose rooms are on the lower level. Some of the best views in all of Desert Mountain.
5850 E Glen Drive
Paradise Valley, AZ 85253
$6,500,000
4
Beds
5.5
Baths
8,100
SqFt
Status
Active
MLS #
6746313
Property Type
Single Family Residence
Price Type
--
This extraordinary 8.75-acre property, designed by renowned architect The Construction Zone, is perched at the pinnacle of Mummy Mountain, offering an unparalleled living experience. Plans are currently in the approval process, and this remarkable estate is being offered prior to breaking ground. Buyer can hire The Construction Zone to build or hire their own builder. As you ascend the gated, private drive, you'll be greeted by jaw-dropping, panoramic views that stretch as far as the eye can see. The property boasts spectacular vistas of Camelback Mountain, and Downtown Phoenix, all framed by a breathtaking city lights in every direction. Savor majestic sunsets from the comfort of your luxurious backyard. Accessible from the south side of Mummy Mountain, the approach begins at Lincoln Drive. Head north on 60th Street and follow the path to the gate at Upper Glen Drive. From there, a short walk up the private road brings you to this unique and magnificent parcel. Don't miss this rare opportunity to own a piece of paradise in one of the most coveted locations in the Valley. Land with exceptional views is becoming scarce on the south side of Mummy Mountain in Paradise Valley. Very private and an incredible opportunity!
7130 N 69th Place
Paradise Valley, AZ 85253
$6,500,000
5
Beds
7.5
Baths
8,140
SqFt
Status
Active
MLS #
6751399
Property Type
Single Family Residence
Price Type
--
Gorgeous Craftsman style house located in the HEART of Paradise Valley on over acre lot w/ mountain views!. Main House features: 7,198 sq ft with 4 bedrooms+Office+Theater+Craft Rm+Flex Rm+Bonus Rm & 6.5 baths. Guest House features: 942 sq. ft with 1 bdrm,1 bath & full kitchen & laundry. Throughout property: Block Construction, Gorgeous Wainscoting, all Ensuite Baths, Custom Tile, Soaring Ceilings, 4 Gas Fireplaces, Tons of Glass Overlooking Huge Backyard that was made for entertaining. Situated on 1.2 acres w/ Lap Pool, Full Sports Court, Ramada w/ Fireplace, Tons of Grass Area, View Deck w/ Incredible Views of Mummy Mtn & 5 Car Garage! Never been on the market before this property is preppy with coastal sophistication. Located within minutes from all the best shopping & dining!
7505 N 70th Street
Paradise Valley, AZ 85253
$6,500,000
6
Beds
6
Baths
5,561
SqFt
Status
Active
MLS #
6769819
Property Type
Single Family Residence
Price Type
--
Seller financing available. Flexible terms,submit all offers. The moment you enter the gates to this elegant Mediterranean / Spanish inspired mansion you will notice the incredible attention to every detail.(Complete remodeled interior and exterior, including solar panels). From the herringbone pavers under the Porte-cochere to the laser cut stone medallion in the foyer, the hand crafted wood accents on all the cabinetry, and the beautiful flooring throughout, the true craftsmanship is evident and rarely found in even the most magazine featured homes. The rotunda with marble pillars, skylight, Venetian plaster and beautiful water feature invite you to unwind and relax in this cozy home.
6620 E Stallion Road
Paradise Valley, AZ 85253
$6,500,000
4
Beds
5
Baths
6,687
SqFt
Status
Active
MLS #
6770878
Property Type
Single Family Residence
Price Type
--
Welcome to Paradise! Spanish Estate, with a dramatic setting of the Mummy Mountains, truly shows pride of ownership! This beauty sits on a large corner lot, showcasing a beautiful backyard oasis with two gazebos, a circular driveway, fountains, a paver porch with an outdoor fireplace, and a gated entryway. Sheer beauty & breathtaking detail are found throughout, with 20 feet soaring ceilings, hardwood and travertine stone floors, 4 indoor Cantera fireplaces, a sizable office, a 600-bottle wine room, and multiple outdoor access points connecting the home inside & out. The spacious living room provides a serene area for receiving short visits, while the large dining room allows you to host a feast on special occasions. A true masterpiece with European old-world charm in PV! Bathed in natural light, this magazine-cover kitchen features a plethora of wood cabinets, travertine backsplash, granite counters, state-of-the-art SS appliances, a 6-burner gas cooktop, a built-in fridge cabinet, a center island, and an outer two-tier island. The owner's suite boasts a sitting room, a fireplace, and French doors to different patios. The lavish ensuite has travertine tile throughout, a jetted tub, two Cantera vanities, an oversized step-in shower with a built-in bench, and a massive walk-in closet. Each bedroom has its own bathroom. Cozy courtyard with artificial turf & a canter fountain is perfect for relaxing. The stunning resort-like backyard offers abundant seating areas, a built-in grill, a pergola, a ramada, a gazebo, a pool, and a spa. Enjoy entertaining or relaxing in solitude! Words don't make this gem justice. Over 6,000 sqft of luxury awaits, don't miss this gem in Paradise Valley! *Seller Concessions Available*
9705 E Cholla Street
Scottsdale, AZ 85260
$6,500,000
6
Beds
7.5
Baths
11,236
SqFt
Status
Active
MLS #
6755115
Property Type
Single Family Residence
Price Type
--
Richly designed with impeccable detailing, grandeur finishes and magnificent curb appeal, this Italian compound is the epitome of classic luxury and modern entertaining. Privately gated 11,236 sqft estate features 6 bedrooms, 7.5 bathrooms, office and home theatre to rival any theaters in town.The Venetian plaster, teak flooring, Cantera stone columns/fireplaces, and coffered ceiling with custom metal detailing brings in a warm and elegant ambiance. Step inside the primary suite and bathroom to find Onyx counter tops, a steam shower and two oversized clothing closets. Gourmet kitchen with high end appliances, oversized kitchen island and 9x9' commercial walk-in refrigerator.The detached guest house offers a bedroom, bathroom and large living space that could also be the ideal pool house.
11225 E Whispering Ridge Way
Scottsdale, AZ 85255
$6,500,000
5
Beds
6
Baths
7,247
SqFt
Status
Active
MLS #
6645685
Property Type
Single Family Residence
Price Type
--
DRASTIC PRICE REDUCTION! Nestled among the boulders of North Scottsdale, this meticulously architect-crafted residence sits within a carefully contoured footprint, cradled between mountainside, washes, and outcroppings of the pristine Sonoran desert. It offers intimate vistas of the canyon and distant city lights. Drawing inspiration from the natural 5-acre setting and Troon Mountain, the 7,247 sq. ft. private estate integrates geometric forms and materials inspired by the land, resulting in a sculptural outcropping that blurs the boundaries between indoors and outdoors, presenting an added dimension to desert living. The main living areas encompass both indoor and outdoor chef's kitchens, indoor and outdoor living rooms, a media room, a 2000 bottle wine room & two detached guest suite. The indoor gourmet kitchen outfitted with premium appliances; including BlueStar triple ovens (2 electric, 1 gas), a Viking 7-burner gas range, dual dishwashers, double Sub-Zero refrigerators, a trash compactor, and an icemaker. The meticulous attention to culinary excellence extends to the Pergola-covered outdoor kitchen, equipped with a Viking grill, deep fryer, side grill, Teppanyaki griddle, and refrigerator. Indulge in luxury with the expansive primary suite, where a steam shower provides a spa-like experience within the comforts of home. Step onto the private mountainside patio, featuring a heated Jacuzzi and an ambient fire bowl, creating a serene outdoor retreat. An additional fire bowl, firewall, and diverse water features contribute captivating elements to the outdoor atmosphere. As the sun sets, the estate's charm is elevated by a enchanting saltwater pool, casting a warm glow that further enriches the luxurious ambiance of the outdoor space. Enjoy breathtaking sunset views while immersed in the poolside oasis. Every facet of this property reflects meticulous design effortlessly fused with the surrounding environment and resonating with the spirit at Troon Estate; From the precisely dry-stacked stone forming anchoring retaining walls to stone columns framing panoramic views. A large cantilevered roof, strategically positioned, provides shade in the summer while capturing the winter sun to warm the interior flagstone floors and dry-stacked ledge stone walls. Exotic woods, such as tiger wood and ribbon mahogany, complement the stone elements, infusing the space with warm and inviting tones. From tiger wood floors throughout to Bubinga wood flooring in the office, every detail has been thoughtfully curated. This extraordinary estate elevates every moment, creating a haven for luxurious retreats in a private world of opulence.
225 Chimney Rock Trail
Sedona, AZ 86336
$6,500,000
9
Beds
10
Baths
8,109
SqFt
Status
Active
MLS #
6627441
Property Type
Single Family Residence
Price Type
--
Amazing Views! 4 residences on 4 acres entirely secured by 6 foot parameter fence and three electric gates. Privacy, location and large estate with these amenities almost never becomes available. Bordering Oak Creek. Horse Coral - horses allowed. NO HOA. Currently generating substantial income as short term vacation rental. Three separate parcels providing flexibility for the buyer. Plenty of room to expand / build additional homes / split lots. Each of the 3 parcels can be split into additional parcels under current zoning. Currently: 4 homes (on 3 separate parcels), walking paths throughout the property, horse coral, stables, caretakers quarters, greenhouse, views, views, views! Main home is 3966 sq ft; Pool house is 1585 sq ft; Guest house is 864 sq ft; Barn loft is 600 sq ft