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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5321 E Paradise Lane
Scottsdale, AZ 85254
$1,290,000
4
Beds
3
Baths
2,974
SqFt
Status
Active Under Contract
MLS #
6735973
Property Type
Single Family Residence
Price Type
--
Designers feel throughout this spacious 2-story home! Located on a corner lot and just across from the park. Currently being used as a short-term rental property. Come through the double front doors, with security screen doors and beautifully etched glass interior door, to see all the magnificent features of this home. Home is tiled throughout all the main living areas of the home for easy care and maintenance. High vaulted ceilings creating an open and airy feeling. Just to the left of the foyer is the formal living area or use as a gaming area. Then it's the formal dining area with buffet niche, perfect for entertaining. To the left of the stairs is the great room, complete with a built-in fireplace entertainment panel. Wet bar area with beverage fridge. A guest room with en-suite bath to the right of the great room with a separate exit, perfect for overnight guests, or can be used as a den or office. Massive kitchen area with plenty of storage space for all one's cooking needs. Tons of countertop space, with eat-up bar seating. All top-of-the-line stainless steel appliances, including an 8-burner gas range with griddle, dual door sub-zero fridge and freezer. The kitchen area circles back around to the formal dining area, making entertaining your guests a breeze! Head up the stairs and your master suite is just to the left, complete with high vaulted ceilings, built-in fireplace panel and built-in shelving. Master bath is made for relaxation with a soaking tub, oversized shower with multiple shower heads, and dual sink vanities and lots of storage space, and a walk-in closet, complete with built-ins. An additional two guest bedrooms, bathroom and laundry area can also be found on the upper level. The backyard is an entertainer's paradise! Covered patio area providing plenty of space for patio furniture. Take a dip in your refreshing private pool, relax in your own private cabana, or whip up a feast on the outdoor BBQ! Back yard is beautifully landscaped with a mixture of grass and desert landscaping, giving one plenty of room for outdoor games, a kid's playground, or just to enjoy the desired Arizona weather! Block fencing with hedge trimming surrounding you for privacy. Tucked away for that small neighborhood feel, but just a minutes' drive to all the surrounding shopping, restaurants, and lifestyle that Scottsdale has to offer. This is living on Paradise Lane!
1109 N Falconcrest Drive
Payson, AZ 85541
$1,290,000
4
Beds
4.5
Baths
4,300
SqFt
Status
Active
MLS #
6752125
Property Type
Single Family Residence
Price Type
--
A panoramic view of the Mogollon Rim invites you into this 4,300 sq. ft 3 story home near the Payson airport. In addition to the main house, is a separate oversized garage with a 700 sq ft 1 bedroom apartment on the second level Entry to the main house is on the mid level along wit the living room, dining, kitchen, bedroom, bath, utility room, pantry and wrap around deck. On the upper level is the master bedroom with fireplace and walk in closet , master bath with jetted tub, shower, toilet room, dual sinks and closets. Office w 2 desks, a 2nd bedroom, bath, laundry and hobby room and deck are also on this level. Located on the lower level is the Rec room with pool table, 4th bath, storage room and garage. Inviting as a permanent home or a family gathering place..... This one of a kind property includes an elevator in the main house and a tiny house nestled in the trees below, RV parking with full hook up and sits on a 1.7 acre lot. Property may be purchase fully furnished.
15724 E Sunflower Drive
Fountain Hills, AZ 85268
$1,290,000
3
Beds
3
Baths
3,430
SqFt
Status
Active
MLS #
6760227
Property Type
Single Family Residence
Price Type
--
This is the home of your dreams! Custom built sitting on an elevated lot w/gorgeous 4 peaks views!! Single level living w/just a bonus room on lower level! Huge RV garage will hold a 36ft RV/Enter through stunning iron door into a wide open great room! Your eyes will take your right outside to the view, but don't miss the wonderful great room/formal dining/music room/sitting area & of course the kitchen!! Tons of custom cabinets/beautiful granite counters/huge island w/seating/Stainless appliances/ Breakfast rm overlooking the East mountains! Enjoy stunning sunrises from the covered patio off great rm/Bedrooms are split for ultimate privacy/Spacious master retreat/Master bath offers newer walk in shower/slipper tub/double vanity & lg walk in closet/2nd master is perfect for guests/More... Newer flooring throughout/ New windows on the East side of the house / 80% Sunscreens /Energy efficient due to the Solar - owned by seller and part of SRP's Customer Generation plan. Mini splits in garage and bonus room HVAC new in 2018 & 2023. New Water heater in 2023.
3768 E Aspen Court
Gilbert, AZ 85234
$1,290,000
6
Beds
3.5
Baths
3,734
SqFt
Status
Active
MLS #
6772694
Property Type
Single Family Residence
Price Type
--
Welcome to this charming CUSTOM, BASEMENT home in the highly coveted Circle G at the Highlands neighborhood of Gilbert, AZ! Situated on a cul-de-sac setting, nearly 1/2-ACRE LOT, this beautiful property offers 6 beds/3.5 baths + Office + expansive Bonus Room in the basement, perfect for families seeking space and comfort. The property also features a 3-car garage, RV gate for the toys, mature landscaping & welcoming porch. Discover an ample foyer that greets you with NEWLY installed wood floors throughout the home that are warm and inviting. The thoughtfully designed layout includes a finished basement with 2 additional bedrooms, a bathroom, huge storage room and a spacious living area w/ surround sound speakers, which is perfect for a media room providing additional living and entertainment space for your family or guests. On the main level, the gorgeous family room offers a wood-burning fireplace & vaulted ceiling! The gourmet kitchen, complete with granite counters, custom tile backsplash, plenty of white cabinetry, breakfast bar and a sunny bay window in the breakfast nook flows into an inviting living area, ideal for gatherings. Check out the NEWLY remodeled, giant walk-in pantry w/ tons of cabinetry, shelving, quartz counters, beverage cooler & more. Retreat to the main suite to find private backyard access & an ensuite w/dual sinks, separate tub/shower & walk-in closet. Oasis backyard w/ ample space for outdoor activities highlighted by a sparkling pool w/ built-in spa, boulder waterfall/slide, diving board, a concrete play area, firepit, large grass area & extended covered patio w/ a plethora of travertine decking. Also enjoy a harvest of your own fresh citrus with orange, lemon and pink grapefruit trees. Whether you're entertaining guests or relaxing in the sun, this outdoor oasis is perfect for Arizona living. Located in the prestigious Circle G community, known for its large lots and tranquil surroundings, you'll enjoy the perfect balance of luxury and privacy while still being close to Gilbert's top schools, shopping, and dining. Don't miss the chance to own this stunning custom home! ADDITIONAL RECENT UPDATES: -
1730 E Acorn Lane
Huachuca City, AZ 85616
$1,290,000
8
Beds
5
Baths
3,078
SqFt
Status
Active
MLS #
6779176
Property Type
Single Family Residence
Price Type
--
Embark on an extraordinary journey to an enchanted oasis in Southern Arizona! Are you ready to experience the impossible? Nestled amidst the desert landscape, this remarkable property offers a sight rarely seen in these parts - with lush trees, a verdant grassland(Well grass at least), and a mesmerizing year-round stream teeming with fish(Well there are fish)! But that's not all! This 5-bed, 3-bath haven with 3/2 MFH guest house w/ over 55 acres and boasts a 6+ car garage(could be more but its hard for me to count higher than 6 cars), hay barn, pool, and 2 private wells and so much more. Unleash your wildest dreams - a thriving AirBnB, bountiful gardens, or simply your own paradise. Seize this extraordinary once-in-a-lifetime opportunity today.
555 S Cactus Wren Street
Gilbert, AZ 85296
$1,289,000
3
Beds
3
Baths
2,554
SqFt
Status
Active
MLS #
6771575
Property Type
Single Family Residence
Price Type
--
Move in ready, fully remodeled, acre lot in North Gilbert. Property includes 18 mature pecan trees with fencing and horse corral. This home features a new open floor plan that radiates from the finished Arizona room. The converted primary suite includes a new walk-in closet and upgraded primary bath. All renovations performed by licensed contractor. Don't miss the newly constructed, and permitted, workshop. This multi-purpose steel outbuilding has unlimited possibilities, with access directly from the driveway. No HOA, irrigated lot, the list goes on. Don't miss an opportunity to own this classic Gilbert acreage.
2521 W Pumpkin Ridge Drive
Anthem, AZ 85086
$1,289,000
4
Beds
3.5
Baths
3,290
SqFt
Status
Active
MLS #
6780784
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the prestigious Anthem Country Club! This stunning 4-bedroom, 3.5-bathroom Sonoma model sits on an elevated lot, offering sweeping views of the 17th hole of the Persimmon Golf Course, lush desert, majestic mountains, and twinkling evening lights. The spacious 3,290 sq ft layout includes a versatile den and a 3-car garage, all set on a serene 0.254-acre lot. Inside, a gourmet kitchen awaits with gleaming granite countertops, stainless steel appliances, and rich dark wood cabinetry. The open-concept layout flows seamlessly into the cozy family room and dining spaces, perfect for entertaining or simply enjoying the view. The owner's suite is a true retreat, featuring a luxurious tile walk-in shower and ample space for relaxation. Step...CONTINUE READING... ...outside to the backyard oasis where you'll find an expansive patio with an outdoor BBQ/bar area under a pergolaideal for al fresco dining. Unwind in the negative edge spool, heating up to 104°, with a tranquil cascading water feature. Whether you're soaking in the vibrant sunsets or hosting friends, this low-maintenance, meticulously landscaped yard offers the best of Arizona outdoor living. Experience resort-style elegance every day in this breathtaking Anthem Country Club home!
16637 W La Reata Avenue
Goodyear, AZ 85395
$1,288,900
3
Beds
3.5
Baths
3,170
SqFt
Status
Active
MLS #
6727946
Property Type
Single Family Residence
Price Type
--
Privacy & Beauty define this home in a unique extra large cul-de-sac corner lot in the 55+ community of Pebble Creek! As you arrive, immediately standing out is the paved driveway and Iron entry door. As you enter the home you'll notice the 12' ceiling that give the Great Room an elegant feel along with the multi-slide pocket door that opens for indoor/outdoor living. Chefs kitchen with double oven, upgraded appliances, butlers pantry and & extra large island. Upgraded cabinets with uppers, unique cabinet hardware and quartz countertops through out. The master bathroom has been extended out 4' to allow a separate shower/bath in addition to more vanity space and more walk-in closet room. The home has so many added upgrades. Please look under attached documents! THIS HOME IS A MUST SEE!!
16779 W Holly Street
Goodyear, AZ 85395
$1,287,000
3
Beds
2.5
Baths
3,134
SqFt
Status
Active
MLS #
6773405
Property Type
Single Family Residence
Price Type
--
This beautiful Cristall 3-bedroom, 3-bathroom home offers 3,134 sq ft of luxurious living space with golf course view. The home features a stacked stone exterior, a beautiful custom front door and front courtyard. The resort-style backyard is perfect for entertaining with an extended covered patio, lighted pergola, lounging areas with Tiki torches, a built-in BBQ island, 2 firepits, a water feature, and above-ground spa—all overlooking the 14th hole of Tuscany West. The gourmet kitchen is ideal for hosting, featuring a large island, upgraded cabinets, granite countertops, GE Monogram stainless steel appliances, a butler's pantry, and walk-in pantry. The spacious great room offers a stone fireplace and custom media center, with views from the great room, dining area, and main and bedroom. Off the kitchen is a cozy morning room that provides a perfect spot to relax. The primary bedroom offers a serene retreat with an ensuite bathroom featuring dual vanities, a soaking tub, walk-in shower, and large walk-in closet. A second bedroom includes a private bath, while the third bedroom near the front could double as a den or office. Additional features include a 3-car garage, owner-owned 34 solar panels, and a spacious laundry room. Located in the PebbleCreek active adult community, enjoy golf, swimming pools, pickleball, tennis, fitness center, and more.
30407 N 54th Street
Cave Creek, AZ 85331
$1,285,000
5
Beds
3.5
Baths
3,884
SqFt
Status
Active
MLS #
6686219
Property Type
Single Family Residence
Price Type
--
This luxury Toll Brothers home in the highly sought after gated community of Montevista in Cave Creek is just a short walk from the community park, with sport courts and a children's playground! An exquisite 5 bdrm, 3.5 bath residence with professionally designed landscaping, Travertine pathways & a grand courtyard entry! The turreted entry opens to the formal dining room & large media room with a 135-inch movie screen. The core of the home lies in the spacious great room which provides gorgeous backyard views and ample space for all social gatherings. The chef's kitchen is warm and welcoming and features stainless steel appliances, granite counters, dining area, breakfast bar, and a convenient desk area for studying or office work. The split primary suite is located downstairs and is a retreat that boasts soft carpet, a lavish ensuite w/dual vanities, large 6-ft soaking tub, oversized shower, and a spacious walk-in closet. Two additional bedrooms are also downstairs, currently being used as offices, and share an updated Jack-and-Jill bathroom. That's not all! There are two more bedrooms and another updated bathroom upstairs, with a cozy loft area. That backyard oasis is a dream, featuring a refreshing 8-ft deep Pebble Tec pool with water feature, paved covered patio and low maintenance landscaping, including mature citrus trees! Close to highly rated Cave Creek schools and short drive to shopping/dining in Old Town Cave Creek and Carefree to the north and Desert Ridge Marketplace to the south.
36460 N Secret Garden Path
San Tan Valley, AZ 85140
$1,285,000
3
Beds
3.5
Baths
2,658
SqFt
Status
Active
MLS #
6705640
Property Type
Single Family Residence
Price Type
--
Rare and very desirable Cordoba floor plan with 3 bedroom suites plus powder room, separate office AND a gorgeous golf course lot! Light and bright open great room concept with views of the 6th tee! Enter through custom iron front door into this beautiful home, with light wood floors in the main rooms, shutters , and cozy fireplace for those chilly Arizona winters! The dream kitchen offers B/I Monogram appliances, with elec cooktop that could easily convert to gas and huge W/I pantry!! Light stone counters with subway tile and light cabinets make this home a canvas to add your own color accents and style! The main bath has double sinks, a walk in shower, separate oval tub and large walk in closet. Location, view and floor plan make this one all the best of the Encanterra lifestyle!
22752 S 226th Place
Queen Creek, AZ 85142
$1,285,000
4
Beds
2.5
Baths
4,225
SqFt
Status
Active
MLS #
6733802
Property Type
Single Family Residence
Price Type
--
Elegance Meets Opulence: A Must-See Gem! Step into the epitome of luxury living with this architectural marvel. Beyond being a house, it's a sanctuary promising an elevated lifestyle filled with comfort and convenience. Here are some standout features: Designed Landscaping: Meticulously landscaped surroundings set the tone for opulence. Natural-Stone Covered Backyard Patio: Entertain or unwind in your private oasis. Big Pool with Water Features: Dive into crystal-clear waters with enchanting water features. Gazebo with Outdoor Furniture: Relax in the shade, surrounded by elegant outdoor furniture. Whole-House Six-Zone Audio System: Rich music flows seamlessly throughout. 13kW Tesla Solar System with Four Power Walls: Sustainable energy backup keeps you powered. 3-Car Air-Conditioned Garage with Level 2 Tesla EV Charger: Ideal for car enthusiasts. 16-Camera Video Security System: Comprehensive security for peace of mind. Home Security Alarm System: Ensures safety for you and your loved ones. Fireplace: Cozy up by the warm glow, unmatched in comfort. This masterpiece caters to every aspect of modern living.