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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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!
6333 E Desert Forest Trail
Cave Creek, AZ 85331
$1,399,000
4
Beds
4
Baths
3,580
SqFt
Status
Active
MLS #
6774167
Property Type
Single Family Residence
Price Type
--
Step into this stunning home and attached guest retreat, set on over 1/3 acre with 3,580 sq ft of luxury living. Enjoy a private pool, 3-car garage, and panoramic views of Black Mountain, with natural open space enhancing the tranquility. Two homes under one roof make it perfect for multi-generational living. The Next Gen suite offers a private bedroom, bath, living area, laundry, kitchen and its own garage and outdoor space. The main home features a 2-car garage, 3 bathrooms, a spacious primary suite, 2 guest bedroom, and a large open kitchen with GE Monogram appliances, granite countertops, and upgraded cabinetry. The primary suite includes an oversized walk-in shower, large walk-in closet and private access to the backyard . The backyard includes travertine decking, pebble tec pool, pool water feature, desert view fencing, large double gate and low maintenance landscaping. The extensive list of upgrades can be found under the documents tab This list of high quality upgrades include solid wood flooring, custom lighting, remote controlled custom window shades, upgraded cabintry, granite counter tops, and more.
5216 E Barwick Drive
Cave Creek, AZ 85331
$1,399,000
4
Beds
4
Baths
4,354
SqFt
Status
Active
MLS #
6743171
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning semi-custom 4 bedroom, 4 bathroom, plus a casita Toll Brother's home. Located on .35 acres in the highly sought-after gated community Montevista. This beautiful property features 2 primary suites, one on the main floor. It's nestled on a spacious cul-de-sac lot that backs to a wash, with a sparkling pool, and large green space. This home provides plenty of room for outdoor entertaining and the mountain views and desert sunsets are gorgeous. Step inside to discover a meticulously maintained interior with high-end finishes throughout. The open concept floor plan offers a seamless flow from the living room to the gourmet kitchen, complete with granite countertops, stainless steel appliances, and a large island with additional seating; ideal for entertaining. Both primary suites luxurious ensuite bathrooms with dual vanities, a soaking tub, walk-in showers and more. The two additional bedrooms on the main floor open to a beautifully upgraded full bathroom. The casita opens to a partial kitchen, built in shelves and hardwood floors, perfect for guests or a home office. Upstairs is the second spacious primary bedroom that has a separate sitting area, walk-in closet, vanities and two walk out balconies ideal for both sunrises and sunsets. This home sides to a green space which provides the utmost privacy. Enjoy the peaceful surroundings and breathtaking sunsets from the comfort of your own backyard. This home is located close to all the local schools, minutes from Cave Creek, Desert Ridge, Kierland, Scottsdale Quarter, parks and so much more!
121 S Cliffrose Lane
Show Low, AZ 85901
$1,398,000
4
Beds
3.5
Baths
3,440
SqFt
Status
Active Under Contract
MLS #
6712930
Property Type
Single Family Residence
Price Type
--
Imagine waking up each morning to be greeted by deer gently grazing between your full length deck and the 13th Tee Box of the Tower Golf Course. This quality built custom cabin has brand new roof (2023) & 2 Master Suites - 1 upstairs and 1 on the main level. This fully furnished, move in ready and turn key cabin is yours for the taking - either to personally indulge or use as a lucrative short term rental as this Master Planned and Gated Community of Torreon allows short term rentals where you and your guests can enjoy amenities such as Pickleball, Tennis, Jr Golf, Family Center w/ Video Arcade & Movie Room, Fitness Center, Clubhouse Pool, Torreon Grille, Catch & Release Lakes & Ponds, endless walking paths & easy access to surrounding national forest for exploring, hiking, camping and and more! One of the few custom cabins with ATTACHED 2.5 Car Garage gives you ample room to park the included & newer 2 passenger GEM E825 golf cart and direct access to your cabin. Long & private driveway with plenty of room to park additional cars in your driveway. Front porch is adorned w/ 4 cozy chairs. Oversized 0.6 acre lot gives u plenty of privacy from nearby homes. Gourmet kitchen w/ long prepping island, sep veggie sink, temp controlled wine fridge, built in Miele coffee station, double ovens, 5 burner Wolf Gas Cooktop, Granite Counters and tons of custom cabinets with walk in pantry. As you enter the front door you are greeted with floor to ceiling windows overlooking the 13th tee box and towering ponderosa pines. At night, the sounds of nature are abundant and relaxing as you sip wine or hot cocoa from your full length deck with 1/3 of it fully covered. Over $175K worth of included, cabin themed furniture such as decorative bear sofa tables, bear themed drapery rods & even custom poker chairs w/ bear themed upholstery are throughout. Vintage jukebox to play your favorite classic hits or enjoy surround sound on walk out deck or inside of family room. 3/4 inch oak flooring, a grind master, Stream Labs System, Tankless Water Heater, Lennox AC, professionally installed gutters, city sewer, skylights in kitchen and main master, alarm system, pre-plumbed wood stove in main master, cozy gas fireplace in Family room and built in office make this the ideal work from home paradise..... Every inch of this home has been meticulously cared for by only 2 owners whom both only used for their own personal enjoyment. This home has charm and will delight in every way...
8511 S 9th Drive Unit 15
Phoenix, AZ 85041
$1,395,000
4
Beds
4.5
Baths
3,300
SqFt
Status
Active
MLS #
6642072
Property Type
Single Family Residence
Price Type
--
Introducing Heard Farm at South Mountain, a brand new community of 24 modern farmhouses with sophisticated architecture designed for healthy, sustainable living! Nestled in South Mountain with quick access to downtown Phoenix, Heard Farm seamlessly blends indoor and outdoor living with fresh floor plans designed for the way you want to live. Floorplan available as 5 bedroom.
35809 N Evermore Madison Street
San Tan Valley, AZ 85140
$1,395,000
4
Beds
4
Baths
3,774
SqFt
Status
Active
MLS #
6761432
Property Type
Single Family Residence
Price Type
--
Beautiful custom home with everything you'd want and more in your ''forever home''. Stanley Custom Homes are unique in craftmanship and design. We start with curb appeal, with a stunning black metal roof that sets you apart from every other home, from there we see the beautiful front yard landscape including a tree lined street with beautiful pistachio trees. Your kitchen will include more cabinets than you'll ever use with a focus on an oversized kitchen island. Your laundry room will also have a ton of cabinets along with spacious countertops. The master shower has a separate shower and stand alone tub with tile going from floor to ceiling. I almost forgot to mention the 40x50 detached metal garage we include.
3329 W Desert Dawn Drive
Phoenix, AZ 85083
$1,395,000
4
Beds
5
Baths
3,727
SqFt
Status
Active
MLS #
6778745
Property Type
Single Family Residence
Price Type
--
Seller offering 1% concession towards rate buydown, landscape etc. This soft contemporary home is 100% new construction and is tucked back in a quiet cul-de-sac surrounded by million-dollar homes. Optimally designed for modern living this home has it all. As you enter, you are greeted with soaring ceilings and a great room that is flooded with natural light. Each generously sized bedroom boasts en suite baths and walk-in closets. The open concept kitchen is well appointed with quartz counters, white shaker cabinetry and LG Studio appliances. A large island sits at the center which overlooks the great room, ideal for gathering and entertaining. The primary suite is a true retreat with a spa-like bathroom complete with soaking tub, quartz counters, dual vanities and an oversized shower. The massive primary walk-in closet is situated with access to the laundry. Boasting 4 bedrooms and 5 baths plus a spacious den/flex space and 3-car garage there is ample room for all and for storage. Enjoy mountain views, easy freeway access, close proximity to Lake Pleasant, and numerous options for nearby shopping and dining. There is plenty of space for a pool and an RV gate is ready for your boat, off-road toys or extra vehicle storage. All this with the peace of mind of a quality new built home.