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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8224 E Angel Spirit Drive Scottsdale, AZ 85255

$1,389,000 - 3Br/2Ba -  for Sale in Grayhawk Parcel 3b, Scottsdale
Open House
$1,389,000
3 Beds
2 Baths
2,306 SqFt
Status Active
MLS # 6745115
Property Type Single Family Residence
Price Type --
Step into a world of luxury with this sensationally remodeled home in the exclusive guard-gated Grayhawk community, where modern elegance meets timeless style. The moment you walk in, you'll be captivated by the rich wood plank laminate flooring that flows seamlessly throughout the space, setting the stage for what's to come. The heart of the home, the kitchen, is a masterpiece of design. Imagine creamy cabinetry that stretches all the way to the ceiling, adorned with the latest slimmer stile and rail, paired with chic contemporary hardware. The large quartz-topped island, with its contrasting base cabinetry, comfortably seats four—perfect for casual dining or entertaining. A large custom range hood crowns the space, complementing the striking contemporary backsplash, while brand-new stainless appliances, including a gourmet gas cooktop, complete this chef's dream. The great room is a showstopper, featuring a ceiling-height stacked stone accent wall that surrounds a sleek new linear fireplace. Built-in display shelving, designed to coordinate with the kitchen's features, adds both functionality and flair. Retreat to the primary bedroom suite, where luxury abounds. It boasts not one, but two walk-in closets, a huge tiled walk-in glass shower, and an extensive quartz vanity with dual sinks, flanked by linen cabinets. Every detail is designed for comfort and style. The guest bathroom makes a statement with its dramatic darker tile and quartz countertops, while the third bedroom, with double doors and a walk-in closet, offers versatility for any need. The laundry room is a dream, complete with a window, sink, and a generous walk-in pantry. Even the two-car garage is exceptional, featuring an epoxy floor and ample storage cabinets. Step outside to the backyard, and you'll find your private oasis with a recently remodeled spool, an elevated seating area, a covered patio, and lush landscaping that invites relaxation. Living in this Talon Retreat home with guard-gated entry is like being on a permanent vacation with access to community amenities such as a pool and spa, grassy play area for children and pets, tennis courts, walking trails, and the breathtaking McDowell Mountain setting. Plus, you're just steps away from two world-class Grayhawk golf courses. This is more than a home; it's a lifestyle.

4562 N Chelsea Drive Buckeye, AZ 85396

$1,385,000
3 Beds
3 Baths
3,190 SqFt
Status Active
MLS # 6760906
Property Type Single Family Residence
Price Type --
Experience luxury living in this sleek and stylish Desert Prairie home, nestled within the sought-after Regent Hills enclave of Verrado. Boasting a modern flair, this custom residence offers the perfect blend of sophistication and functionality. Enjoy the convenience of proximity to the golf course, practice facility, shopping, dining, and schools. This meticulously designed home features stained concrete floors and euro finishes, creating an ambiance of contemporary elegance. The spacious great room floor plan, comprising 3 bedrooms and 3 baths, seamlessly integrates indoor and outdoor living. Large window walls invite natural light and showcase panoramic mountain views, providing a picturesque backdrop for daily living. Step into your backyard retreat to discover an oasis of relaxation.

16488 W Windsor Avenue Goodyear, AZ 85395

$1,385,000
3 Beds
3.5 Baths
2,974 SqFt
Status Active
MLS # 6771582
Property Type Single Family Residence
Price Type --
Killer Location. Arguably THE BEST LOT in PebbleCreek w TONS OF UPGRADES & DETAILS. Lake View, Mountain View, Golf Course view w/out cart path or golf balls. Oversized lot, Casita w kitchenette & courtyard water feature, Granite Kitchen countertops, Marble bathrooms, GE Monogram appliances, built in speakers, mini split in Laundry room, laundry sink, Owned solar TILES & lease on additional panels. Generac back up generator powers entire home. Air filtration & variable speed system built into the HVAC. Automatic fertilizing irrigation system, plantation shutters & crown molding throughout, 12 ft coffered ceilings, Patio w Travertine, built in BBQ w bar seating, Fire place, mister system, 3 car garage w bump out, service door to side trash can area, storage cabinets, ceiling racks & sink.. Instant Hot water, 4 ft garage extension, soft water loop, custom cabinets in kitchen bathrooms & laundry room, jetted tub & walk in shower in master bath, Elongated comfort height toilets, Custom front door, steelhouse garage doors w windows, pigeon patrol wiring, ceiling fans & window treatments, drop lighting in kitchen, sliding doors off of Kitchen, Office Den & back patio, added insulation, Ring door bell, Nest thermostats, Extended solar inverter warranty, New irrigation lines, built in dining room cabinets & hutch, garage door keypad, utility sink in garage, additional outlets installed, entertainment center w fire place, under cabinet lighting in Kitchen, security system, back splash, tons of cabinets & counter space in large laundry room, landscape lighting, outdoor spotlight for artwork, exterior repainted in 2021 & so much more... This is the dream home that has it all.

6020 E Shea Boulevard Scottsdale, AZ 85254

$1,385,000
4 Beds
2 Baths
2,031 SqFt
Status Active
MLS # 6725529
Property Type Single Family Residence
Price Type --
Great opportunity in Scottsdale's Magic Zip Code of 85254 to own nearly an acre lot of horse property with established pool home waiting for your vision! This well developed property includes 4 bedrooms/2 baths in a split set up and a large inviting pool oasis. Opportunities abound! For instance, remodel this home to become your dream home with plenty of room to expand or build anew. Car enthusiasts will appreciate the 1200+ SF workshop with double garage doors and a carport for outdoor work or RV enthusiasts can utilize the garage to park their RV. Garage comes complete with office and bathroom. Or, repurpose the workshop into an air conditioned horse barn. Cater to your horses or horse lovers in the area for premier boarding! It would also make a great Air BNB opportunity? Repurpose this home into an amazing retreat for those seeking an escape to Scottsdale. The property would also make for an excellent group home locagtion. So many possibiliies with the land and location. Come see what opportunities might work for you!

7719 E San Fernando Drive Scottsdale, AZ 85255

$1,385,000
5 Beds
3 Baths
3,904 SqFt
Status Active Under Contract
MLS # 6756469
Property Type Single Family Residence
Price Type --
This gated Sonoran Hills home encompasses a collaboration of timeless elegance and poise. A grand vaulted entry leads to European oak hardwood floors and plentiful space for entertaining. Chef's kitchen features a Miele oven/range/hood and dishwasher, Carrara Quartz countertops, and an abundance of cabinet storage. Primary suite boasts a dual Restoration Hardware vanity & solid marble slabbed shower. Relish in the private oversized cul-de-sac lot which backs to a natural wash offering tranquil privacy. The expansive backyard provides an excess of outdoor enjoyment. Dine poolside, settle in with the Canterra Stone fireplace, or barbecue while admiring desert twilight. Close to fine dining, schools, and shopping, this desert dwelling embraces North Scottsdale living at its finest.

35245 S Turtle Creek Road Wickenburg, AZ 85390

$1,379,000
3 Beds
2 Baths
2,462 SqFt
Status Active
MLS # 6749049
Property Type Single Family Residence
Price Type --
ENJOY Privacy in this CUSTOM RANCH HOME ON 10 ACRES*2,462 Sq Ft./ 3 Bed/ Den/ 2 Bath* Massive Vaulted, Wood & Beam Ceilings. *NEWLY REMODELED! NEW ROOF! PRIVATE WELL! * New FLOORING+GRANITE COUNTERTOPS+ LANDSCAPING+RANCH SIZED GOURMET KITCHEN+LONG BAR+WHISKEY/WINE NICHE+LARGE GATHERING ROOM+FIREPLACE+ANDERSON WINDOWS+STAINLESS STEEL APPLIANCES+WINE FRIDGE+RUSTIC BEAMS + TILED WALK-IN SHOWERS+10 ACRES+ Adjacent to thousands of ACRES of STATE LAND! ELEVATED & USEABLE w/ DIRECT ACCESS TO STATE LAND+HORSES & ATV'S+ROOM FOR THE INLAWS, OUTLAWS & MOTHER-IN-LAWS! +EXTENDED COVERED PATIO+HEATED/COOLED SWIM SPA+HAY BARN+HORSE STALLS+MISTERS+TURN OUT+LARGE SHOP+2, 50-amp Full-service RV HOOKUPS+HITCHING POSTS+TRAILS FOR MILES+2 GATES TO ACCESS STATE LAND+PRIVATE ESTATE. Why are you waiting?

19360 N 73rd Street Scottsdale, AZ 85255

$1,377,000
3 Beds
3.5 Baths
2,247 SqFt
Status Active
MLS # 6772670
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 residence 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 C offers a guest suite or 4th bedroom option on level 1. Upstairs enjoy an open living area and spacious outdoor terrace.

6816 N 177th Place Waddell, AZ 85355

$1,375,000
6 Beds
4.5 Baths
3,587 SqFt
Status Active
MLS # 6735754
Property Type Single Family Residence
Price Type --
Brand new home on an oversized lot! NO HOA. This home is situated on just over an acre and includes flood irrigation for the backyard. The home has an attached Casita off the front with its own exterior access and creates the perfect spot to work from home or host guests and loved ones. The backyard is fully fenced with block walls and ready for your dream backyard! Other homes for sale on the same street as well. You do not want to miss this!

2449 E Southwood Road San Tan Valley, AZ 85140

$1,375,000
5 Beds
3 Baths
3,228 SqFt
Status Active
MLS # 6730008
Property Type Single Family Residence
Price Type --
This country home w/ a white picket fence, wrap-around porch & on 3.3 FLOOD IRRIGATED ACRES is a classic vision of rural life. Complete horse training facility offering; 18 horse stalls w/ auto waterers & fans. The huge arena is a rare find; 200' x 300', LED lights & excellent footing. It has a convenient cattle alleyway to easily load cattle into the roping chute. More features; hay barn, silo, large wash rack w/ dry well for drainage, 2 turnouts w/ shades, cattle pens & 4 RV hookups. The detached garage / workshop offers two roll-up doors, space for a tack room, feed or tractors. The home features five true bedrooms, including two owner suites—one on each level. The upstairs master suite includes a jetted tub, walk-in shower & two walk-in closets. **Click 'More' tab** The Great Room is highlighted by a beautiful stone fireplace. The kitchen features white cabinets, granite countertops, breakfast bar island & stainless steel appliances. Huge laundry room w/ cabinets & a mudroom, a desirable feature for the outdoor lifestyle. Countless hours have been spent in this arena & barn dedicated to rigorous training and practice. Both horses and their riders transformed into champions, achieving remarkable success in competitions. Now, it's your turn to take ownership of this home and utilize this exceptional arena and facility to shape the next generation of champions.

6717 E Brilliant Sky Drive Scottsdale, AZ 85266

$1,375,000
3 Beds
3 Baths
2,030 SqFt
Status Active
MLS # 6750276
Property Type Single Family Residence
Price Type --
Public Remarks:Welcome to your beautiful desert dream home, freshly remodeled & radiating luxury at every turn! From the incredible Wolf & Sub-Zero Kitchen to the stunning & warm fireplace to the ultimate getaway Master Retreat! This completely reimagined designer home in North Scottsdale's prestigious guard gated Terravita community is the epitome of elegant, carefree living. Imagine starting each day in this exquisite, move-in-ready gem, perfectly tailored for downsizing, upgrading, or as is seasonal escape. Every corner of this desert retreat has been thoughtfully curated to blend sophisticated style with everyday comfort. Experience the beauty of Arizona living with magnificent sunsets & a lush private backyard oasis, all within a low-maintenance, resort-style setting.

6035 E Monterra Way Scottsdale, AZ 85262

$1,375,000
4 Beds
3 Baths
2,949 SqFt
Status Active
MLS # 6771551
Property Type Single Family Residence
Price Type --
Outstanding 4 bedroom, 3 bathroom, 3 car garage, 2949 sqft, split Master home on an Acre. This home is in the process of being remodeled and if you get here quickly, you can help pick out some of your finishes such as Cabinets, Lighting, Hardware, Appliances, etc.... Amazing Iron Door Welcomes You to your new home. Walking in, you will see the amazing Fireplace Wall, 15' wide accordion door which allows you to have inside/outside living. Don't miss out of the sweet Master Bathroom/Shower. Viewing Deck looking 360 at mountains, city lights, sunsets.

3007 E Arrow Point Payson, AZ 85541

$1,375,000
3 Beds
3 Baths
2,458 SqFt
Status Active
MLS # 6774758
Property Type Single Family Residence
Price Type --
Discover the perfect blend of luxury and nature in this exquisite rustic home located in The Rim Golf Club. Featuring striking exterior stonework, this property boasts AMAZING VIEWS of the breathtaking Granite Dells Mountains, providing a serene backdrop for everyday living. Step inside to find wood floors that flow throughout most of the main level, complemented by beamed ceilings that enhance the home's charm. The beautifully landscaped yard invites you to unwind in peace, while the gorgeous kitchen is a chef's dream, equipped with a 6-burner Wolf gas range, a Subzero refrigerator, granite countertops, and a butler's pantry complete with a beverage cooler. The master suite offers a private retreat with a separate door leading to the back deck, perfect for morning coffee or evening stargazing. The luxurious primary bathroom features a stand-alone tub and a spacious walk-in shower, providing a spa-like experience at home. This is not just a home; it's a lifestyle. Don't miss your chance to experience the tranquility and beauty this property has to offer!