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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1621 E Rolling Rock Drive
Phoenix, AZ 85086
$1,399,900
5
Beds
2.5
Baths
4,290
SqFt
Status
Active
MLS #
6769373
Property Type
Single Family Residence
Price Type
--
This expansive single-level home offers an exceptional combination of luxury, comfort, and functionality. With 5 bedrooms and 3.5 bathrooms spread over 4,290 square feet, it provides ample space for family living and entertaining. The home features split floor plan, ensuring privacy for the primary suite and guest suite. The gourmet kitchen is a chef's dream, equipped with stainless steel appliances, an oversized working island, granite countertops, and ample cabinetry. The primary suite is a private retreat with two spacious walk-in closets, an ensuite bath featuring a dual sink vanity, a separate tub and shower, and a private exit to the backyard, where you'll enjoy stunning views of Apache Peak, Circle Mountain, and Pyramid Peak. One of the bedrooms is designed as a guest suite with its own ensuite bath and separate exit to the backyard, providing ultimate convenience and privacy for visitors. The outdoor space is equally impressive, with a fully landscaped 1-acre lot that includes a pergola, sparkling pool, waterfall, and low-maintenance turf. There's also plenty of room for RV parking, making this home ideal for those who enjoy adventure and travel. The paver driveway leads to a 3-car epoxy garage, complete with built-in cabinets and a 220 outlet for electric vehicle charging. With 10-12' ceilings throughout, Travertine and carpet flooring, two newer AC units, and a water heater that is approximately 3 years old, this home has been thoughtfully designed and maintained for maximum comfort and efficiency. Whether you're enjoying the breathtaking mountain views or hosting gatherings in the beautiful backyard, this home offers a truly exceptional living experience.
33207 N 12th Street
Phoenix, AZ 85085
$1,399,900
4
Beds
3.5
Baths
4,060
SqFt
Status
Active
MLS #
6778967
Property Type
Single Family Residence
Price Type
--
Prepare to be amazed! Check out this luxurious 4 bed, 3.5 bath tri-level home now on the market! Great curb appeal, a manicured desert landscape, 6 garage spaces, and a paver driveway are just the beginning. Discover a sizeable living area showcasing elegant wood flooring, high ceilings w/exposed wood beams, plantation shutters, a fire place, and a wet bar perfect for entertaining. Continue into the spacious family room, where you can spend quality time w/friends & loved ones. The chef's kitchen is comprised of wood cabinetry w/crown moulding, a walk-in pantry, granite counters, pendant lighting, SS appliances, a prep island, and 2 breakfast bars. You'll love the primary bedroom, boasting a 2nd fireplace, direct outdoor access, a walk-in closet, and a lavish ensuite w/dual vanities. Lastly, the wonderful backyard includes a covered patio, extended seating area, an outdoor fireplace, putting green, a refreshing pool/spa combo, and stairs leading to a rooftop deck! What are you waiting for? Act now!
2200 E Nolan Place
Chandler, AZ 85249
$1,399,628
4
Beds
4.5
Baths
3,705
SqFt
Status
Active
MLS #
6754060
Property Type
Single Family Residence
Price Type
--
Quick Move-in Ready Home! McKinley Glenn is an intimate gated enclave of luxury single-level homes offering modern home designs by Cachet Homes. Welcome to this stunning Ascent Plan boasting 4 bedrooms, 4.5 baths, game room, den, this residence is designed for comfort and style. Situated on a North/South corner lot this home features a Gourmet kitchen with modern appliances and ample counter space, a game room perfect for entertainment and relaxation, spacious great room with 20' stacking door inviting the outdoor living spaces inside, en-suite baths for every bedroom, high-end finishes and upgrades throughout the home, and 4-car garage for ample storage and parking. Community amenities include a recreation area with Ramada and cornhole, close proximity to shopping centers, schools, restaurants, and other conveniences, ensuring a convenient lifestyle. Don't miss out on this incredible opportunity to own a luxury Cachet Home in a prime location.
213 El Camino Tesoros --
Sedona, AZ 86336
$1,399,000
3
Beds
3
Baths
2,714
SqFt
Status
Active
MLS #
6705042
Property Type
Single Family Residence
Price Type
--
Serene, secluded, and lovingly maintained, this exceptional Sedona mountain retreat offers a breathtaking escape that feels a million miles away from the stresses of everyday life! Set back from the street, this single-story 3-bedroom, 2.5-bath haven stands proud on 0.47 acres of sylvan land. Low-maintenance landscaping and towering mature trees border the driveway while making your way to the entry, where artisan stained glass double doors usher you into an equally impressive interior. Elegant natural tones and beautiful tile and hardwood flooring are on show across the foyer, guiding guests towards the step-down living room with a custom concrete fireplace and stylized wood-clad ceilings. Wide glass doors leading to the deck encourage seamless indoor/outdoor entertaining. Expansive picture windows frame breathtaking views while filling the dwelling with abundant sunlight. In the adjacent dining area, showcase your China collection or personal memorabilia in two built-in hutches while the atmosphere is enhanced by a sophisticated chandelier. Bright and well-sized, the gourmet-inspired kitchen treats the avid cook to a full set of stainless steel appliances, a wall of handsome cabinetry, and gleaming granite countertops that extend to the multi-seater bar and island. Take your morning meals in the pendant-lit breakfast nook where glass sliders invite you to dine alfresco. Three stylish and comfortable private bedrooms await you after a long day, two of which are accommodated by an attractive shared bath with a shower/tub combo. Outshining the others, double doors leading to the primary suite reveal an unparalleled oasis highlighting a striking Kiva fireplace, exclusive balcony access, and a large customized walk-in closet. Indulge in a rejuvenating soak in its luxurious ensuite with dual vanities, a separate glass step-in shower, and a spa-like tub. Head outside and host weekend BBQs, relax under the covered sitting area, or bask in the sun and fresh breeze on an extensive, wrap-around deck where you can unwind with vistas of the Red Rocks in sight. A few stairs down, explore the rest of your acreage and the nearby woodlands that present endless potential for outdoor recreation. Other notable features are the large laundry/craft room, Pet deck, powder rooms, reverse osmosis, water softener, all appliances stay, and an attached 2-car garage with a ton of storage. Adventure enthusiasts will enjoy its close proximity to several hiking trails like the Outer Limits, Schuerman Mountain, Scenic Overlook, Lover's Knoll, and Cathedral Rock. Plus, Sedona Red Rock High School and downtown Sedona's shops, restaurants, and other conveniences are just a short drive away. This is a community of No STR.
4621 E Walter Way
Phoenix, AZ 85050
$1,399,000
5
Beds
4
Baths
3,999
SqFt
Status
Active
MLS #
6763363
Property Type
Single Family Residence
Price Type
--
Move-in ready home located in the highly sought-after gated community of Sanctuary at Desert Ridge. Boasting 5 Beds, 4 Baths, and a two-car garage with built-in racks. Endless features include dual AC units w/ 5 zones, a private travertine courtyard, prime North/South exposed lot, water filtration system & a spacious den. The gourmet eat-in kitchen offers extended shaker-style cabinets, a mosaic tile backsplash, high-end granite countertops, stainless steel appliances, a gas cooktop, and a reverse osmosis system. The master bath features quartz countertops, a spacious walk-in closet, dual vanities, and a dual-entry shower. The backyard is perfect for entertaining, complete with a jacuzzi, built-in stainless steel BBQ area, glass fireplace, an entertainment wall with a TV and fridge... a misting system, and faux grass for easy upkeep. The private community of Sanctuary at Desert Ridge has it all. Enjoy exclusive access to the community pool, spa, clubhouse, playground, and wellness center.
2112 E Kerry Lane
Phoenix, AZ 85024
$1,399,000
6
Beds
5.5
Baths
4,535
SqFt
Status
Active
MLS #
6779901
Property Type
Single Family Residence
Price Type
--
Back on market!! With a massive $400k price cut. This is now your chance to own a one-of-a-kind mansion built on a former gold mine. And YES! mineral rights do convey with title. Carved into the bedrock of The Phoenix Mountain Preserve the new owners will benefit from views of the entire valley. Conveniently located in the PV school district, and just minutes away from Desert Ridge, Scottsdale and Paradise Valley. Noteworthy Items: 1) 2nd floor newly remodeled. 2) 400ft wide lot. 3) 30-foot ceilings 4) No HOA. 5) Sub-Dividable Lot. 6) RV Garage, with w/c & mezzanine level. 7) Fire Sprinklers throughout the house, casita and garages. 8) Gas and city sewer. 9) Casita with kitchenette.
1234 W Solano Drive
Phoenix, AZ 85013
$1,399,000
3
Beds
3
Baths
2,967
SqFt
Status
Active Under Contract
MLS #
6760083
Property Type
Single Family Residence
Price Type
--
PARADISE FOUND. This amazing home is an entertainer's dream. Open floor plan with abundant natural light. Huge kitchen island, granite/basalt counter tops, built-in refrigerator, oversized Wolf gas range, breakfast bar and custom framed cabinets. Recessed lighting, beautiful solid walnut flooring and windows that overlook the incredible backyard. Each room has high-end, Big Ass Fans. Primary suite has a luxurious walk-in closet and lavish bathroom with dual sinks, bidet, walk-in shower and soaking/air tub. Plenty of storage includes very large walk-in butler's pantry/laundry room and a separate workshop. Backyard has an amazing 20' x 40' pool with cabana and sauna room, as well as orange, lemon, grapefruit, and pecan trees. Conveniently located in a lush, irrigated neighborhood, close to entertainment, high-end shopping, downtown and light rail.
1700 S Sierra Pines Circle
Show Low, AZ 85901
$1,399,000
4
Beds
3.5
Baths
4,930
SqFt
Status
Active Under Contract
MLS #
6767500
Property Type
Single Family Residence
Price Type
--
Come see this sanctuary on the mountain, where every detail is a testament to luxury and comfort. This 4-bed, 3 and 1/2 bath home spans 4,930 square feet on over an acre. The custom front doors open to reveal an interior of soothing warm tones, with wood floors that whisper tales of elegance. The heart of this home is in the gourmet kitchen, set within a spacious great room designed to take your breath away. The custom cabinetry, stone counters, double islands, beautiful stone range setting, and butler's pantry gives you all the amenities you would desire. An expansive office/den promises a haven for productivity or learning, while the privacy of each bedroom is ensured by a private en-suite or Jack and Jill bathroom. ...READ MORE... As night falls, the movie room becomes a cozy retreat for family and friends. By day, the grassy, fenced backyard beckons for outdoor enjoyment, and the covered deck offers a serene vantage point to admire the forested landscape, with the gentle rustle of pine trees in the breeze. This home, nestled in a quiet cul-de-sac, is a treasure trove of delightful surprises, a once-in-a-lifetime find that speaks of a life well-lived. Imagine living in the White Mountains of Arizona where you have 4 beautiful seasons and where you can breathe in the fresh mountain air and enjoy the 40 lakes and over 600 miles of rivers and streams. In addition to the amazing fishing, this area has one of the most extensive trail systems in the south west for hiking, biking, horseback riding, quading and more. Sunrise Ski Resort is also just 40 minutes away with 3 beautiful mountains to ski, snow board or sled. If shopping is your interest, you will love the antique stores and the multitude of arts and craft shows that happen in the summer. The music festivals have something to fit everyone's enjoyment. Do you love to golf? There are 7 amazing golf courses, 3 that are public. The White Mountains, where this home/cabin is the best kept secret of Arizona! Come and explore and enhance your living! Pinetop-Lakeside was also voted 'Best Cabin Region in the U.S... Embrace the MAGIC!
17938 E Vista Desierto --
Rio Verde, AZ 85263
$1,399,000
3
Beds
3.5
Baths
2,946
SqFt
Status
Active
MLS #
6678773
Property Type
Single Family Residence
Price Type
--
Exceptional Golf Course and mountain views offered with the unique Alora model. This 3 bedroom 3 1/2 bath also features an attached casita with a private entrance is a must see. 2 additional ensuites offer full baths with separate entries, no expenses spared in any of the 2 rooms. Casita offers a living/TV room with separate bedroom and full bath. The Open-air concept architecture is ideal for entertaining and dining. Gourmet kitchen with custom cabinets, Monogram appliances, dual ovens, gas cook top, oversized granite kitchen island, featuring ceiling height glass front cabinets. The large laundry and home office has custom cabinets and granite counter tops. Custom window shutters with window shades. Upgraded wood flooring and tile throughout. Central vacuum system, dual HVAC System
5028 N Scottsdale Road
Paradise Valley, AZ 85253
$1,399,000
3
Beds
2
Baths
2,388
SqFt
Status
Active
MLS #
6696525
Property Type
Single Family Residence
Price Type
--
Prime Paradise Valley Location in Camelback Park Estates minutes from Scottsdale Fashion Square Mall. NEW TRANE AC! NO HOA! Enter through the front courtyard. Single level 3 bed 2 bath home w/ an office, a pool & a 2 car garage. Remodeled in 2019. Wood laminate flooring throughout. Chef's Kitchen is modern & includes white cabinets, stainless steel appliances, quartz counters, farm sink, gas range & walk-in pantry. Bar stool seating & a second dining area. Primary suite is over-sized w/ an exit to the backyard, walk-in closet & a marble bathroom w/ a shower, free standing tub & dual sinks. All bedrooms have an exit to the low maintenance resort style backyard that features pool w/ rock water feature, paver patio, outdoor kitchen/BBQ & an observation deck that overlooks Scottsdal NEWER Roof, New water heater & soft water system
7731 E Manana Drive
Scottsdale, AZ 85255
$1,399,000
4
Beds
4
Baths
4,200
SqFt
Status
Active
MLS #
6716693
Property Type
Single Family Residence
Price Type
--
Beautiful Sonoran Hills home in north Scottsdale! This remodeled gem offers 4,200 sq ft of luxury living, blending modern elegance & timeless charm. 4 bedrooms, 4 bathrooms, including a huge downstairs ensuite bedroom. Large upstairs/office/ playroom/workout room includes custom built-ins plus 2 bedrooms w/jack&jill bath & oversized Master. Downstairs great room plus dining/iving & breakfast areas are very light w/bright/plantation shutters thoughout. Pool only 4 years old. Entertain in the formal dining room, enjoy casual meals in the sunny breakfast nook overlooking the sport court & pool. A Tesla charging station, 43G solar panels, an entire house humidifier in AC, the underlayment of the roof is new as was redone when the solar panels were installed, newer flooring throughout, inside just painted throughout. Have had 2 offers that didn't materialize so ignore days on market. Great location!! Great park nearby!
3230 N 90th Street
Mesa, AZ 85207
$1,399,000
4
Beds
3.5
Baths
3,375
SqFt
Status
Active
MLS #
6764915
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home at 3230 N. 90th St.! This charming property offers a unique blend of spacious living and outdoor adventure on a large lot with no HOA. Nestled in the serene landscape of Mesa, you'll enjoy breathtaking views and the freedom to create your own paradise. With ample space for outdoor activities, the expansive lot provides endless possibilities. Dive into relaxation with your own sparkling swimming pool (salt water, heated and cooled), perfect for cooling off during warm Arizona summers (commercial grade misting system on the back patio as well) or entertaining friends and family. Equestrian enthusiasts will appreciate the horse privileges, allowing you to create your own equestrian retreat with plenty of room for stables and riding. Take in the picturesque Arizona landscape from your backyard, where stunning sunrises and sunsets make every evening feel like a vacation. Enjoy the freedom and flexibility of living in a no-HOA community, allowing you to customize your space without restrictive rules. Solar panels are owned outright! This property is a rare find, combining the tranquility of rural living with modern comforts. Don't miss out on the opportunity to own a slice of Arizona paradise!