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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3519 Lee Doyle --
Flagstaff, AZ 86005
$1,525,000
3
Beds
2
Baths
2,497
SqFt
Status
Active Under Contract
MLS #
6772140
Property Type
Single Family Residence
Price Type
--
Located on a large corner lot in a private area of Forest Highlands, this charming SINGLE LEVEL home is the perfect mountain retreat. The open floor plan, privacy and additional bonus room provide comfort and versatility for large groups or intimate gatherings. The open kitchen has granite countertops and stainless-steel appliances as well as a large walk-in pantry. It also has a pass-through service window to the bonus room. The large covered deck has both covered and uncovered areas with a built in barbecue and plenty of room to enjoy the outdoors. This is quite the find at a price point seldom seen in Forest Highlands.
9020 N 33rd Way
Phoenix, AZ 85028
$1,525,000
5
Beds
3
Baths
4,521
SqFt
Status
Active
MLS #
6729215
Property Type
Single Family Residence
Price Type
--
Priced well below appraised value! Elegance & timeless charm will be found in this stunning Santa Barbara-inspired property located just mere steps from the Phoenix Mountain Preserve. This gorgeous residence greets you with rich hardwood plank & luxury Saltillo tile , high ceilings with wood beams plus beautiful wood cased windows. A central atrium creates an airy atmosphere with tons of natural light that can be adjusted with electric blinds. The open gourmet kitchen is a chef's delight with custom cabinetry, top-of-the-line stainless steel appliances with Taj Mahal leathered Quartzite countertops, an adjacent oversized laundry room, and a huge storage pantry. The heart of the home is the great room, illuminated by skylights and anchored by an authentic tiled fireplace. Step outside to to the entertainer's garden, with its large pool surrounded by lush trees. This beautiful home is perfect no matter what your lifestyles! With a large playroom/hobby room/craft room that can also be used as attached guest suite complete vaulted ceilings, fireplace, quartzite desk, lots of storage, sleeping loft and private bathroom. Flex room off loft would make a perfect kitchenette/coffee area. New Tesla Super Charger in Garage. Minutes to 51 access, downtown, airport, Basis Phoenix Primary, new PV Mall redevelopment, biking/walking trails, Press Coffee, 32 Shea, many other fine restaurants. Check out these amazing details & features: ***
3124 E Blackhawk Drive
Gilbert, AZ 85298
$1,520,000
4
Beds
4.5
Baths
4,324
SqFt
Status
Active
MLS #
6661174
Property Type
Single Family Residence
Price Type
--
This spacious beauty in Acacia Estates boasts the addition of a separate living quarters and a recent remodel with high-end upgraded features such as solid hardwood knotty alder doors and baseboards, a Chef's kitchen with GE Monogram appliances, 3 beverage fridges and a 4-car insulated and temperature-controlled garage. Additional highlights include front yard artificial turf, plantation shutters throughout, remote blackout shades in the bedrooms and a home surveillance system. Other luxury features such as a private courtyard, ensuites in secondary bedroom, attached casita with a full bathroom remodel to include an oversized shower and soaking tub
Flagstaff
AZ 86004
$1,519,000
5
Beds
3.5
Baths
4,920
SqFt
Status
Active Under Contract
MLS #
6703866
Property Type
Single Family Residence
Price Type
--
This stunning custom home on 2.5 acres is the realization of an arts and crafts vision singular to Flagstaff. From the careful details of the front doors, to custom built ins & woodwork, cherry cabinets, & tiffany style light fixtures, this is a work of art! Live your quiet dream in serenity surrounded by natural beauty, or create an entertainer's paradise. Delight in the chef's kitchen with a Viking suite of appliances. Lose yourself in the beautifully treed, gardened yard with mountain views. The lower level is pure fun. Entertain, work out, dance, play pool. Located in desireable Pine Mt. Estates, only steps from national forest, this is an equestrian & outdoor lover's dream. With 2 living areas, spacious rooms, custom office, 3 car garage, owned solar & AC, it's your perfect retreat. Furnishings available with a few exclusions (wood telephone on wall does not convey as well as personal antiques). We've completed an inspection and this home is in excellent shape! See additional documents for many details on items repaired, solar information and the vegetation on property.
3229 E Campbell Avenue
Phoenix, AZ 85018
$1,510,000
4
Beds
3.5
Baths
3,110
SqFt
Status
Active
MLS #
6768123
Property Type
Single Family Residence
Price Type
--
Don't miss out on this like-new custom-built home in one of Phoenix's most sought-after neighborhoods. Featuring four spacious bedrooms and three-and-a-half bathrooms, this residence boasts exceptional finishes, including sleek white Cordova cabinets, elegant granite countertops, modern porcelain wood plank flooring, automated patio shades, and high-end stainless-steel appliances. Experience a level of luxury and style at an incredible value for this location. The gorgeous chef's kitchen, complete with a six-burner gas range and a seamless granite island that opens up to the living area, allowing the homes cook to stay connected with family and guests. The thoughtfully designed split floor plan offers a primary bedroom on the ground level, while three additional bedrooms are situated... upstairs alongside a versatile loft. The inviting south-facing backyard offers a spacious covered patio, private pool, and generous grassy area perfect for year-round enjoyment. This home is a hidden gem that won't last long!
19360 N 73rd Street
Scottsdale, AZ 85255
$1,501,000
3
Beds
3.5
Baths
2,584
SqFt
Status
Active
MLS #
6772969
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 D has a private in-home elevator and a private rooftop deck with a louvered pergola and porcelain pavers.
1810 E Magnolia Drive Unit 34
Flagstaff, AZ 86005
$1,500,000
4
Beds
3.5
Baths
2,672
SqFt
Status
Active
MLS #
6787242
Property Type
Single Family Residence
Price Type
--
This newly constructed 2,672 sqft, 4 Bedroom, 3.5 Bath home is located in Juniper Point and is the perfect mountain getaway. The open floorplan is ideal for entertaining as the kitchen, living room and dining area flow seamlessly together. The kitchen is a chef's dream with a stunning Desert Canyon Granite kitchen island complete with chiseled edging, waterfalls on both ends and bar seating for 3. A custom Big Chill refrigerator with eye-catching brushed copper trim, walk-in pantry, and a 6 burner Wolf range surrounded by quartz countertops that lead into a full backsplash. Just off the kitchen is an open dining area, a mud room including bench seating and access from the garage. The living room features a floor to ceiling stone fireplace and access to the back patio. The expansive wraparound patio is highlighted by a built-in BBQ with a granite countertop prep area, artificial grass and built-in heaters allow for the perfect area for relaxing during those cool flagstaff evenings. An additional office area/den and a ½ bath, with a unique Gunmetal 3D Cube Aluminum Mosaic accent wall, complete the main level of the home. The upper level encompasses 4 bedrooms and the laundry room with plenty of storage, Samsung washer and dryer, sink and stunning countertops. The primary suite boasts a luxurious bath complete with a large tiled shower, dual vanities surrounded by beautiful granite that leads all the way to the ceiling, a soaking tub, private toilet room and a large walk-in closet. Adjacent to the primary bedroom is an en-suite bedroom with a walk-in closet. Take in the peak views from the two additional guest bedrooms with a shared bath including dual vanities and a tub/shower combo. Additional features include wood flooring throughout the main level of the home, custom lighting package, upgraded window treatments, tankless hot water heater, and 2 car garage with epoxy flooring. This brand-new home is located just minutes from downtown in close proximity to all Flagstaff has to offer and is the epitome of a tranquil mountain retreat.
17131 N 51st Way
Scottsdale, AZ 85254
$1,500,000
4
Beds
3.5
Baths
3,643
SqFt
Status
Active
MLS #
6770140
Property Type
Single Family Residence
Price Type
--
The perfect floorplan! Soaring ceilings and spacious open concept floorplan. All the WOW FEATURES you want in an executive floorplan- Guest Ensuite with full bath and walk-in closet, custom window treatments, STUDY, LARGE GAME ROOM, GOURMET KITCHEN with double ovens, gas cooktop, walk-in pantry, under cabinet lighting, kitchen island with sink with pendant lighting pre-wires, BEAUTIFUL MODERN DESIGN CHOICES! 16' GLASS SLIDING DOOR TO COVERED PATIO, FIREPLACE, 3 CAR GARAGE, SMART HOME, surround sound pre-wire, recessed lighting, floor outlet and more. This house has everything and the perfect location! Enjoy everything Arabella has to offer - Community pools and parks, near shopping, dining and 101 & 51 fwys in the 85254. Only minutes from Kierland & Scottsdale Quarter!
10338 E San Salvador Drive
Scottsdale, AZ 85258
$1,500,000
5
Beds
3.5
Baths
3,107
SqFt
Status
Active
MLS #
6779285
Property Type
Single Family Residence
Price Type
--
Sometimes it just feels like Home! Fully Remodeled in Scottsdale Ranch, this 5 Bed 3.5 Bath Cul-De-Sac property checks all the right boxes! (Dual Master Suites) The Primary Master is on the 1st floor and has a brand new shower & claw-foot tub enclosure with a garden view. Plus direct outdoor access to a large private hot tub oasis. The entire 2nd floor has been made into an additional private Master Suite/Guest Retreat/Bonusroom with it's own AC unit. There is brand new soft carpet, exposed wood beams and a full ensuite w/dual sinks, private toilet and a walk-in closet! The living spaces all have huge vaulted ceilings and the familyroom has a convenient wet bar & sink. Plus, both the family and living rooms have large wood burning fireplaces that will keep you warm & cozy when cold calls. The Elegant Wood-Look flooring is a Stone Plastic Composite (SPC) and completely waterproof! The brand new kitchen is equipped w/everything an aspiring chef needs, new Bosch appliances, white cabinetry w/quartz counters, generous storage, plenty of counter space, a walk-in pantry, tile backsplash, a center island and a peninsula complete with a breakfast bar. Lastly, the fantastic backyard boasts all new turf, a large covered patio, extended paver seating area with a built-in grill with a sink and a sparkling blue pebble tec diving pool with a waterslide! This home is perfectly designed and welcoming for entertaining and having those memorable family gatherings all year long!
3417 W Roaring Fork Drive
Pinetop, AZ 85935
$1,500,000
5
Beds
6
Baths
3,533
SqFt
Status
Active
MLS #
6672251
Property Type
Single Family Residence
Price Type
--
Nestled alongside the picturesque 18th tee box of the renowned Pinetop Lakes Country Club, this impressive A-Frame designed split log cabin with stone accent sits on 0.38 acres, 3533+/-sqft, has 5 bedrooms and 6 baths, 2 car garage, storage area, laundry/mud room, loft/family room, grand stone gas fireplace. Step inside and be greeted by a spacious and inviting interior with soaring ceilings and abundant gathering spaces. Each of the five large bedrooms boasts its own private ensuite, ensuring optimal privacy and comfort for every guest. Bask in the expansive views of the lush greenery from the comfort of your own home, where the beauty of the outdoors seamlessly blends with the cozy warmth of indoor living. Income property with mgr. Unwind after a day of adventure in the White Mountain knowing that your personal sanctuary awaits. Property is being sold turnkey with fine antique furniture and unique collectibles adorn every corner of this turnkey home, adding a touch of timeless elegance. Conveniently located near the world's largest Ponderosa Pine Forest, Pinetop Lakes Country Club provides easy access to an array of outdoor activities from golf and tennis. Sunrise Ski Resort, Lakes for fishing to hiking and wildlife watching. With major commercial airports in Phoenix, Albuquerque, and Tucson just a short distance away.
5 E 14th Street
Tempe, AZ 85281
$1,500,000
5
Beds
3
Baths
2,961
SqFt
Status
Active
MLS #
6728493
Property Type
Single Family Residence
Price Type
--
Amazing Tempe Location Offering A Ton Of Possibilities. Just Steps Away From ASU, Grady Gammage And The Spectacular Entertainment District Of Down Town Tempe. Single Level 5 Bedroom And 3 Bathroom Home With Huge Lot And Private Pool And Entertaing Area. Newer Windows, Newer Main Sewer Line, Updated Kitchen And A Split Floor Plan Which Allows A Great Opportunity For Private Residence, Rental For Students Or An Airbnb. Close To Light Rail, Sky Harbor, Restaurants And Tempe Town Lake. Two Separate Outdoor Entertaing Areas And Two Car Garage With Large Driveway Makes This An Ideal Property In An Incredible Neighborhood. Dont Miss Out On This Limited Time Opportunity To Create A Lifestyle And Business In An Unprecedented Location Which Wont Come Aailable Often.
22602 N 80th Place
Scottsdale, AZ 85255
$1,500,000
4
Beds
3
Baths
3,086
SqFt
Status
Active
MLS #
6758896
Property Type
Single Family Residence
Price Type
--
Nestled in the private and gated community of Pinnacle Peak Estates II, this stunning home offers breathtaking mountain views right out the front of the home. At just over 3,000 square feet, this home is perfectly sized and the one-acre lot offers space to expand along with privacy. The back of the house showcases a wall of glass, with four sliding doors and windows that invite abundant indirect sunlight throughout the day. This unique feature also provides a panoramic view of the sparkling pool, visible from most rooms, creating a seamless connection between indoor and outdoor spaces. As you step inside, the high ceilings and Italian travertine floors immediately catch your attention, lending the home an expansive yet inviting feel. The split floor plan offers privacy, with the primary suite and bath and home office with a full bath (fourth bedroom) on one side, and two additional bedrooms with a shared bath on the other. The primary suite bath is a retreat, featuring dual vanities, a jetted soaking tub, a separate shower, and a walk-in closet. The kitchen has stainless steel appliances, walk-in pantry, center island with storage, a coffee/display niche, all overlooking the light filled family room with centerpiece fireplace. Outdoor living is just as enticing, with a large covered patio that stretches the length of the home, complete with a mechanical sunshade for added comfort. The heated pool, surrounded by ample decking, is perfect for lounging or dining. For added convenience, the home includes a three-car garage and a large laundry room with a sink and cabinetry. The leased solar panels enhance energy efficiency, while the Southwest styling welcomes guests with charm. With quick access to the 101 and Phoenix Airport, and so close to Kierland, Scottsdale Quarter, Fashion Square, and Desert Ridge, and more, literally minutes away, from the most desirable shopping areas in Arizona. This home combines luxury, convenience, and privacy in a sought-after location.
