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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5431 E Olesen Road
Cave Creek, AZ 85331
$1,348,000
3
Beds
3
Baths
2,831
SqFt
Status
Active
MLS #
6721033
Property Type
Single Family Residence
Price Type
--
Nestled in the charming town of Cave Creek, you don't want to miss this beautifully remodeled home with a resort style backyard. The home has an updated kitchen with a huge walk in pantry, all three bathrooms have been recently renovated and newer slate floors throughout. In addition, it has newer air conditioner units. The backyard is fully lighted with mature landscaping for a resort like feel. A huge deck overlooks the yard with a built-in grill and huge shade sails to give ample shade. The backyard is perfect for entertaining with a sparkling pool and spa, fire pit, and a chipping green and tee box for golfers. 2 front circular drives. No garage but plenty of room to add it. Situated on a quiet street, this 1.2 acre lot is steps away from schools, restaurants and shopping.
18626 E Picacho Road
Rio Verde, AZ 85263
$1,347,000
3
Beds
3
Baths
3,100
SqFt
Status
Active
MLS #
6788276
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning home in the gated golf community of Tonto Verde. A wall of glass will catch your eye as you enter this home to views of the Golf Course & Mazatzal Mtns. 3 ensuite Bedrooms, Den/Office, Formal Dining & Breakfast Rooms. Great room, open Kitchen w/Bar Seating. Granite Counters, Alder Wood Cabinets, Valances, Gas Fireplace, Large walk in Pantry, 50 bottle Wine Cooler, 8ft solid wood doors. spacious covered patio w/ BBQ & Fireplace. 2nd outdoor fireplace by the inground Spa. Most Furniture and Golf cart available out of Escrow. Tonto Verde Pass- Through Golf Membership is available to purchase and bypass the wait list.
1101 W Fairway Drive
Mesa, AZ 85201
$1,347,000
4
Beds
4
Baths
3,646
SqFt
Status
Active
MLS #
6721138
Property Type
Single Family Residence
Price Type
--
**Seller offering $40,000 to be used towards buyer's closing costs Welcome to your dream home! This spectacular property offers the perfect blend of luxury, comfort, and modern elegance. Recently undergoing a complete renovation, this stunning residence boasts breathtaking views and top-of-the-line upgrades, making it an ideal sanctuary for discerning buyers. As you step into this magnificent home, you are greeted by soaring 14-foot vaulted ceilings that open up to expansive views of Camelback and Mummy Mountain. The spacious living areas are highlighted by two cozy fireplaces, perfect for those cool desert evenings. Every detail of this home has been meticulously crafted, from the all-new flooring, framing, drywall, and paint. The entire house has has been spray foamed, ensuring optimal energy efficiency and comfort year-round. The heart of the home is its state-of-the-art kitchen, designed for both functionality and style, boasting all new GE Profile appliances, a butler, appliance vanity, and spacious pantry. With new electrical wiring, including a robust 400 amp panel, the kitchen is equipped to handle all your culinary adventures. The property also features new sewer lines, PEX water piping, and gas line piping, providing peace of mind for years to come. The primary suite highlights include a spa-like primary bath, gas fireplace, two Elfa walk-in closets with built-in storage cabinets, and more beautiful mountain views. The split layout offers ultimate privacy with two bedrooms sharing a Jack and Jill bathroom between them and an additional casita style bedroom bathroom with kitchenette and built-in desk. The den offers a quiet workspace with some original wall cabinets and views of Camelback Mountain. Step outside through your twenty foot infinity door to your private oasis, with sweeping views from South Mountain to Four Peaks, where the pool has been refinished with mini pebble tec and kool decking, flanked by double pergolas. The outdoor shower adds a touch of luxury, making it easy to rinse off after a refreshing swim. The expansive .60 acre lot offers endless possibilities, whether you dream of building a barndominium, a pickleball or tennis court, or simply enjoying the vast open space. The exterior of the home is just as impressive as the interior, with new stucco, encapsulated by an ornamental fence and ficus trees creating privacy and a green space. The large and elevated lot offers not only tremendous views but ample space for outdoor entertaining, gardening, or even constructing additional structures to suit your needs. This exceptional home is perfectly situated to take advantage of Mesa's natural beauty and vibrant community. Enjoy close proximity to top-rated schools, shopping, dining, recreational facilities, Phoenix Sky Harbor International Airport, and Old Town. Whether you are hosting a gathering with friends or enjoying a quiet evening with family, this home provides the ideal setting for every occasion.
7147 E Rancho Vista Drive Unit 5002
Scottsdale, AZ 85251
$1,345,900
2
Beds
2
Baths
1,533
SqFt
Status
Active
MLS #
6772470
Property Type
Apartment
Price Type
--
Welcome home to the most exceptionally designed residence at Optima Camelview Village. Unit 5002 is 2 Bed + office premium skybridge unit with three sides of glass and panoramic views. Completely remodeled with high end finishes including Thermador appliances, custom millwork and stunning white oak floors throughout. Must see to appreciate the detail and craft of this unit. No expense spared! Among dramatic waterfalls, reflective pools and lush landscaping, the Camelview Village amenities include three swimming pools(indoor & outdoor), outdoor putting green, racquetball, basketball/pickleball court, fitness center with separate workout studios, plus a spa, sauna facilities and locker rooms, party room and concierge services. HOA includes water, sewer, trash, gas and cable.
3512 E Camelback Road
Phoenix, AZ 85018
$1,345,000
3
Beds
2
Baths
2,455
SqFt
Status
Active
MLS #
6782479
Property Type
Single Family Residence
Price Type
--
This spacious Biltmore Area home offers a fantastic opportunity with a generous 17,500 square foot lot. The kitchen features durable stainless steel appliances, and the master suite includes a large, spa-like bathroom with an expansive walk-in shower, complete with multiple shower heads and a relaxing sitting area. Convenience is key, with two laundry rooms, one conveniently located in the master suite. The garage provides an additional 120 square feet of storage space, offering plenty of room for organization. The backyard is perfect for entertaining, featuring a sparkling pool, a covered patio for year-round enjoyment, and plenty of low-maintenance artificial grass, ideal for sports and outdoor activities. The home is thoughtfully designed with functionality in mind, making it an ideal choice for those looking for a great investment in a prime location. This is a must-see property with incredible potential!
5250 E Deer Valley Drive Unit 153
Phoenix, AZ 85054
$1,345,000
3
Beds
2.5
Baths
2,175
SqFt
Status
Active
MLS #
6717025
Property Type
Apartment
Price Type
--
Beautiful Corner Unit Featuring a huge wrap-around patio area. Interior finishes professionally selected featuring European Oak Engineered Hardwood Floors, Custom Black Metal Glass Doors, and a relaxing jet tub in primary suite. This home feels like a model home when you walk in. Outdoor patio area truly feels like an extension of the main living area. Exclusive clubhouse features meeting spaces, a large entertaining kitchen, coffee bar and movie lounge, 4400 sqft gym, and Olympic-length pool. The Luxe residents also get to enjoy additional amenities, including access to Toscana's staff service, heated pools, spas, fitness centers, & etc. Just minutes away from Mayo Clinic, Scottsdale Quarter, & Kierland Commons, with easy freeway access to downtown Phoenix & surrounding suburbs 2 Parking spaces with a large storage area in parking garage located next to the elevator. Power has been run for EV charger as well.
2092 S Navajo Court
Chandler, AZ 85286
$1,345,000
6
Beds
4.5
Baths
4,313
SqFt
Status
Active
MLS #
6760399
Property Type
Single Family Residence
Price Type
--
** SPECTACULAR HOME ** EXCEPTIONAL VALUE ** OASIS IN THE DESERT ** Nestled on a tranquil cul-de-sac lot within the highly-coveted, Arboleda Estates gated community, this beautifully constructed Taylor Morrison home exudes with detailed craftmanship and pride of ownership inside and out, featuring: 6 bedrooms, 4.5 baths, impressive front entry with iron/glass door, plantation shutters, built-in entertainment center, plank tile flooring, SS kitchen appliances, large loft, freshly painted interior (9/24), and a private PebbleSheen play pool. Gourmet & busy on-the-go cooks alike will LOVE the chef's kitchen, which includes white-on-white staggered cabinetry, slab granite counters, induction cooktop, dual built-in wall ovens & microwave, trash compactor, decorative SS pendant lighting, and an over-sized walk-in pantry! SPACIOUS primary suite located on the main level provides sliding barndoor access to large bathroom area having separate garden tub & shower, dual sink vanity w/personal makeup counter, and an oversized walk-in closet; all other bedrooms are generously oversized too AND there are numerous closets everywhere throughout the home to store all your household stuff & things. The 3-car garage mancave w/epoxy flooring also features additional storage including extensive built-in cabinetry, 3 large overhead storage shelves and a soft water system. There's so much storage space in this home you can probably rent your unused space to your neighbors! And there's dual RV gates as well to store your boats, trailers, and other motorized toys. And most importantly the large family room w/dramatic 18 ft soaring ceilings is the central entertainment hub for making so many fun-filled memories; and best of all it opens to an AMAZING backyard paradise where family and friends can play and relax in their own private retreat featuring sparkling heated play pool, four waterfall features, lush green landscaping, and travertine patio & pool decking; and the extended covered patio and turf areas within this 17,296 SqFt (nearly .4 acres) lot provide ample entertainment spaces for all. Finally, this South Chandler private neighborhood offers convenient access to nearby top-rated schools, parks, shopping, and quick-n-easy freeway access to the 101/202. Washer, dryer, and fridge convey to new owner. This is truly a MUST-SEE, rare DREAM HOME to own!
9487 E Trailside View
Scottsdale, AZ 85255
$1,345,000
3
Beds
2.5
Baths
2,775
SqFt
Status
Active
MLS #
6692735
Property Type
Single Family Residence
Price Type
--
Welcome to DC Ranch's premier & highly desired gated community, Terraces at Desert Parks Village! This exquisite and immaculately cared for home features a North/South exposure with a wonderful open floor plan, high ceilings, a private courtyard, 3 large bedrooms, 2.5 baths, 3 car garage (with brand new opener w/camera) a heated pool and epitomizes luxury living with state-of-the-art enhancements and elegant finishes such as; refinished cabinetry throughout, newer Viking appliances, newer HVAC systems, new water heater, new water softener, newer water filtration system, tinted windows with new sun screens, Hunter Douglas fabric window coverings, retractable awnings, surround sound, home security system with cameras and much more! The gourmet kitchen boasts gorgeous Quartz counters, under & over counter lighting and an extended island creating the perfect place to enjoy your morning coffee! This Monterey home neighborhood has wonderful parks and sidewalks, perfect for afternoon walks! This gem not only offers luxurious living spaces but also great proximity to the best of Scottsdale's amenities, including shopping, dining and outdoor activities. It represents a perfect blend of comfort, convenience, and sophistication & will not disappoint the fussiest of buyers!
275 E Bracciano Avenue
San Tan Valley, AZ 85140
$1,345,000
2
Beds
2.5
Baths
2,343
SqFt
Status
Active
MLS #
6754422
Property Type
Single Family Residence
Price Type
--
Stunning golf course Chroma model w/ fabulous upgrades in Encanterra Golf & Country Club! You'll appreciate the pride of ownership that matches one of the best unobstructed lake views in the community featuring greens, water & mountains. Quick close OK. Most furnishings negotiable! Gourmet kitchen showcases shaker cabinets to the ceiling w/ glass displays, pull-out drawers & soft-close features. Built for entertaining - island w/ gas cooktop, JennAir refrigerator & b/i wine fridge. Wood-like tile throughout the house w/ carpet in the bedrooms. Private den w/ French doors. Bonus room that can easily become a 3rd sleeping area. Captivating primary suite w/ ensuite featuring walk-in shower & double vanities w/custom storage. Separated 2nd bedroom & bathroom. Plantation shutters. Incredible laundry room & extra half-bath. These are just some of the timeless interior features of this home. With an oversized 2.5 car garage providing room for storage or golf cart, this property is as practical as it is beautiful. EV charging outlet. Smart home. As if this wasn't enough, breathtaking views take center stage thanks to the expansive rolling wall of glass. Outdoor gas BBQ & extended travertine paved patio. Surround sound in & outside. This lot is unusually large for the neighborhood. Must see to truly appreciate the friendly & upscale resort-lifestyle of Encanterra! All-age community! Arizona living is waiting for you!
8425 S 10th Lane Unit 1
Phoenix, AZ 85041
$1,340,000
4
Beds
3.5
Baths
3,063
SqFt
Status
Active
MLS #
6748754
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.
311 W Monterosa Street
Phoenix, AZ 85013
$1,340,000
6
Beds
4
Baths
4,372
SqFt
Status
Active
MLS #
6727196
Property Type
Single Family Residence
Price Type
--
Appraised at $1,450,000 Looking for tons of square footage , open spaces and a large lot just off central in phoenix!? This is your chance. Experience unparalleled luxury in this exquisite brand new modern home. With 6 bedrooms, 4 baths, and a separate casita featuring a full kitchen and bath, this property offers versatility and comfort. Enjoy expansive living spaces adorned with high-end finishes and one of a kind design. Designed for both relaxation and entertainment, this home exemplifies contemporary elegance and sophistication, promising a lifestyle of unparalleled refinement and convenience.
8105 E Plymouth --
Mesa, AZ 85207
$1,340,000
8
Beds
3.5
Baths
6,046
SqFt
Status
Active
MLS #
6744382
Property Type
Single Family Residence
Price Type
--
Under the backdrop of Thunder and Usery Mountain Regional Park, resides an east valley equestrian estate with over 6,000 sqft of livable space, heated pool & spa, 4 horse stalls, tack room, and walker. Located on over an acre and a half in a non-HOA community of a Maricopa County Island. This Santa Fe custom basement home has 8 bedrooms, spacious living area with fireplace, and private entrances. The estate can accommodate various uses such as multi-generational living, home businesses, investment opportunities (short term rental) and assisted living or behavioral health as well. This special property in the heart of the Sonoran Desert is surrounded by mountain ranges, luxury golf communities, parks and recreation, and Red Mountain Freeway for ease of commute and endless opportunities.