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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8876 S Santa Elizabeth Drive
Goodyear, AZ 85338
$1,285,000
5
Beds
4
Baths
5,070
SqFt
Status
Active
MLS #
6753744
Property Type
Single Family Residence
Price Type
--
Welcome home to your very own piece of paradise nestled in the scenic Estrella Mountain foothills. This eclectic 5070 sq ft. custom home sits on 1.25 acres, and features a fully owned 25.6kw solar panel system. Just beyond the front door of this gorgeous home lies the courtyard, complete with a barbecue area and swimming pool. A winding concrete pathway leads you through your personal oasis to access both the 2 bed 1 bath casita and the additional 1 bed 1 bath casita- perfect for multigenerational living or generating additional income. Past the courtyard is the fully-featured primary residence, which includes a private office, 2nd bedroom, formal dining room, as well as a second-story deck to watch the Arizona sun set over the beautiful Estrella Mountains.... In the kitchen, the sleek granite countertops, luxury stainless steel appliances, and walk-in pantry integrate seamlessly with the family room, both a chef's dream and the pride of any avid entertainer. The primary bedroom features a double fireplace, a spiral staircase to the sunlit upstairs loft, and a New Orleans inspired en-suite bathroom with a step-up jetted hot tub, dual vanities, dual walk-in closets, and a luxurious walk-in shower. Don't miss this opportunity to live the resort lifestyle! HIGHLIGHTS OF ESTRELLA MOUNTAIN RANCH RESORT LIVING: 2 lakes (Yacht Club supplies paddle boats, kayaks) 2 Resident clubs houses w/fitness centers, AMAZING WATERPARK, plus 2 heated pools (1 lap pool) MILES AND MILES OF MOUNTAIN BIKING AND HIKING TRAILS. Golfing, Community Parks with Basketball and Tennis Courts, Pickle Ball, and Playgrounds. What are you waiting for?
40 E Apache Road
Munds Park, AZ 86017
$1,285,000
6
Beds
4
Baths
4,556
SqFt
Status
Active Under Contract
MLS #
6762176
Property Type
Single Family Residence
Price Type
--
This custom built luxury home is not to be missed. With over 4500 square feet of living area, six bedrooms, four baths and on nearly a one-acre flat usable lot, this chalet is loaded with upgrades and charm. The open great room has walls of windows and a stone-faced floor to ceiling wood burning fireplace. The kitchen has stainless appliances, granite countertops, breakfast bar and a walk-in pantry. Separate dining area. Main floor en-suite primary with a shower and a jetted soaking tub. Huge open loft area that overlooks the great room. As a special perk, there's a separate apartment with a private entrance that has a large bedroom, full bath, great room and kitchenette. Two car garage, an RV garage and lots of other parking options. Sold mostly furnished and at under appraised value.
8411 E Windrunner Drive
Scottsdale, AZ 85255
$1,285,000
3
Beds
3
Baths
2,552
SqFt
Status
Active
MLS #
6773652
Property Type
Single Family Residence
Price Type
--
Welcome to this gorgeous Monterey home in Grayhawk's Talon Retreat! This home has been completely remodeled with almost $300,000 in Upgrades and Improvements in the last 4 years, including resurfaced roof and TWO completely replaced HVAC systems in 2023 and 2024! Checkout the Upgrades list in the Documents tab for the full list. The Retreat is a 24-hour guard gated neighborhood that is the epitome of luxury living in one of Scottsdale's premier Golf Communities. This home is absolutely turnkey, and it's perfect as a primary residence or as a winter retreat. The low maintenance backyard provides unparalleled privacy and peacefulness. When you enter this home, you are immediately greeted with lovely French oak wide plank flooring which runs through the main home and bedrooms. This large open room concept floor plan and 12 ft ceilings, maximizes the 2500 square feet, and the wall of glass and natural light, brings the outdoors inside! The kitchen has been completely remodeled with a large entertainer kitchen island, quartz countertops, Wolf and Sub-Zero appliances and a fabulous bay window breakfast nook. Did I mention how much natural light is in this home? You will be blown away by the outdoor / indoor living in this one of a kind property. The primary suite has been remodeled as well with a huge double vanity, top of the line fixtures, tile flooring, giant vanity mirror, and a floor to ceiling tile and glass shower. Open the barn door to find a large walk-in closet that has tons of organized space, and there are additional linen cabinets to meet all of your storage needs. The Primary bedroom has a slider door which has access to the backyard retreat. The front bedroom is another Primary bedroom with its own en-suite bathroom and walk- in closet. There is a large office or den space with fantastic built-in shelves and desk. This space could easily be enclosed to make a formal bedroom, because there is a third full bath right around the corner. The oversized laundry room has tons of cabinets, Quartz countertops, full size front load LG washer and dryer and a new mud sink and cabinet, and leads out to the two car garage with custom cabinets, a water filtration system, and a newer oversized water heater with recirculation pump. This property is truly one of a kind and has been lovingly cared for over the last 4 years.
26720 N 156th Street
Scottsdale, AZ 85262
$1,285,000
3
Beds
2.5
Baths
2,633
SqFt
Status
Active
MLS #
6773995
Property Type
Single Family Residence
Price Type
--
Tucked in off the main roads sits this beautifully maintained home on 2.26+ acres w/ lush desert foliage. So many flora colors & different plants feels like a desert oasis. Bring your toys & horses & enjoy the temperature-controlled man cave/shop/extra garage, 2-stall mare motel w/ good sized arena. Lots of room to give you extra privacy & room to add more features. Relax on the patio & enjoy the peacefulness of the desert, watch the sunrise over Four Peaks & take a dip in the gated pebble tec pool w/ waterfall for that unmatched AZ experience. Great open kitchen w/ plenty of room for the chef to entertain guests. Generous cabinets/countertop space & eat-in kitchen along w/ a nicely sized formal dining space. A final bonus: a timed-irrigation raised bed layout for that gardener who.... loves home-grown vegetables & flowers. If you're looking for a spacious desert retreat that's also very quiet & private, this one is a must-see.
5830 E Sierra Sunset Trail
Cave Creek, AZ 85331
$1,280,000
4
Beds
3
Baths
3,036
SqFt
Status
Active
MLS #
6712582
Property Type
Single Family Residence
Price Type
--
Stunning Torrey Pines model in beautiful Lone Mountain is nicely upgraded throughout with custom finishes. Designed for views & privacy, the backyard opens to a lush wash & Black Mtn views featuring a spacious travertine paver patio, sparkling pool w/water falls, built in BBQ, and artificial turf. The interior features tile plank floors & timeless neutral tile in the main living areas, new carpet in the bedrooms, shutters throughout, & custom cabinets in the family room. The open kitchen features GE Monogram stainless appliances, including a 48'' gas range w/griddle, granite countertops, beverage fridge at the large island & dining nook. The formal dining & living room offer ample entertaining space that flows to the large shaded patio. The master is split from the 3 BR/2 BA guest wing.
7813 N Via Del Sol --
Scottsdale, AZ 85258
$1,280,000
2
Beds
2
Baths
2,229
SqFt
Status
Active
MLS #
6729199
Property Type
Single Family Residence
Price Type
--
Private retreat in the heart of McCormick Ranch. Voted ''Best Home on Tour'' Just as you can't judge a book by it's cover, don't miss the opportunity to see why this home won. Location & Style with amazing upgrades (list in documents tab), makes this beautifully maintained home capture your heart. The 3rd bedroom was converted to the new primary closet (it can always be undone if a 3rd bdrm is needed). Outdoor living with new Bullfrog spa, sparkling pool, built in BBQ, patios from primary & Family room, retractable awning and mature trees has loads of character and class. Office/den area can easily be used as a 3rd bedroom also. Skylights throughout add natural light, while landscaping adds privacy outside. Come fall in love!
1758 Rolling Hills Drive
Prescott, AZ 86303
$1,280,000
4
Beds
3
Baths
2,998
SqFt
Status
Active
MLS #
6747470
Property Type
Single Family Residence
Price Type
--
This custom residence is a mix of rustic and contemporary design creating a one of a kind. Nestled among the tall pines in Timber Ridge near historic downtown the spacious home features a huge fenced in backyard perfect for nature lovers. The Main Level living area is ideal for entertaining with an open floor plan and natural light. Details like exposed brick, natural plank shiplap, hardwood floors and a cozy fireplace add character. The dream kitchen has high-end appliances and ample counter space. The huge Laundry is a combo of walk in Pantry and Office Area too. The primary suite has direct access to the rear deck while the 2nd Bedroom on the Main Level overlooks the entry porch with an adjacent full bath to create privacy. Speaking of private; the Guest ''House'' on the lower . . . level is accessed via a separate entrance for additional privacy and this is where Bedroom 3 & 4 are located along with a 3/4 Bath, Living Area, Kitchenette, 2nd Laundry Area with abundant storage. Outside the expansive backyard includes a large deck, hot tub, fire pit and room to roam. This tranquil retreat is a unique opportunity in a prime location. Most furniture will be included with a comparable offer.
36709 N Stoneware Drive
San Tan Valley, AZ 85140
$1,280,000
3
Beds
2.5
Baths
2,731
SqFt
Status
Active
MLS #
6763814
Property Type
Single Family Residence
Price Type
--
You'll feel like home the moment you step into this beautiful Encanterra home. This Alora Plan is perfectly situated on the 16th tee with no fences or block walls to restrict your beautiful golf course, water, and Superstition Mountain views. Sit in the morning room to start your day or step out onto the travertine patio and enjoy the serenity of your surroundings as you watch the sunrise, or sip wine in the evening watching the mountains change in the reflective colors of the sunset. Desirable north south exposure allows you just the right amount of sun or shade along with your large front courtyard. Inside you'll find an amazing open floor plan with plenty of space to entertain or enjoy in your own way. The chef's kitchen is well appointed with high-end appliances, oversized island, granite counter, and cupboard space galore. Plenty of lighting including adjustable over-under cabinet and island lighting for just the right touch and mood. The smart room laundry area is well situated providing extra office, studio, or hobby space to enjoy. Every exquisite detail was carefully considered from crown molding, plantation shutters and upgraded tile throughout. If you're not ready to downsize quite yet or you need a little more elbow room, the 3 bedrooms plus a den will be perfect for you. The master suite with tray ceiling, expansive ensuite and walk-in closet gives you the space and privacy you desire, while guests can enjoy 2 large bedrooms and bathroom. No need to worry about parking or storage for all your toys as you have a 3-car garage with new epoxy flooring with built in cabinets. This home is just a short distance from La Casa and Algarve where you'll find resort style first-class amenities to enjoy including four pools, fitness center, pro shop, boutique, spa, restaurants, bars, pickleball, bocce ball, tennis, art studio and so much more. Abundant walking paths are found throughout the entire community. If you like convenience, you'll love being surrounded by all the shopping, dining, recreation, and entertainment that Queen Creek and San Tan Valley area has to offer. Come see for yourself why it's more than an incredible lifestyle that awaits you here at Encanterra.
15772 E Tumbleweed Drive
Fountain Hills, AZ 85268
$1,280,000
5
Beds
3.5
Baths
3,000
SqFt
Status
Active
MLS #
6767181
Property Type
Single Family Residence
Price Type
--
Stunning Mountain Views!! This incredible single level 5 bedroom, 3.5 bath redesigned home is truly one of a kind. Its a perfect split floor plan and checks off all the major boxes. Plenty of natural light. This professionally designed home will give you the feeling you are walking into a magazine cover vacation home. A perfect blend and use of textures. The kitchen features a large custom blue island topped with a stunning brushed natural stone top that changes coloring in the light. It also boasts two sinks for those busy chef days. The back white shaker cabinets offer over sized 42'' uppers , soft close hardware and set above a stunning marble full back splash. All new stainless appliances with the always desired pot filler above the cooktop. The bar prep area makes its own statement. Features include a built in microwave drawer as well a custom cabinetry, wall paper and lighting. The main living space is centered on a floor to ceiling fireplace, luxury vinyl plank flooring and a wall to wall custom beam with one of the largest ceiling fans you will ever see. Primary suite is massive and features a real working fireplace and its own separate sitting room that could also be used as a private office or den. The primary bath suite is a European style wet room. Large walk in shower, soaking tub, floating vanity and a LED mirror all conveniently located next to the large walk in closet. Each of the other 3 bathrooms are individualized so that they make their own statement. One of the bedrooms even has a fun loft. Great chill space to read a book. The garage is an oversized 3 car design with a ton of room for extra storage. The laundry has a large amount of storage with its custom cabinetry. Exterior notes- there is a pool designed for the home with a pool contractor ready to build if so desired. The home was professionally painted, a brand new paver driveway and walkway were just added, new custom garage doors , lighting, reclaimed wood ceiling, all new rock hardscape, waterless plant design, a built in BBQ eat in area, fire pit and plenty of room to add more outdoor entertainment. You will not find another home as unique and amazingly functional as this one. No HOA
4410 E Robin Lane
Phoenix, AZ 85050
$1,279,900
3
Beds
3.5
Baths
2,984
SqFt
Status
Active
MLS #
6763721
Property Type
Single Family Residence
Price Type
--
Welcome Home! This single-story gem is located a stone's throw from the A+ rated Desert Trail Elementary School & is surrounded by award-winning parks & lit walking trails. This Desert Ridge residence features an award-winning floor plan and has fantastic curb appeal, a professionally-designed backyard, including stacked stone walls that gives the home a resort-like feel. Gourmet kitchen w/ a walk-in pantry & a large island w/ an enormous amount of storage space with 32 cabinets. Buffet area allows for easy handling of large social events. Add the matching KitchenAid appliance package and a convenient R/O system and you have a dream kitchen. Close to Desert Ridge Marketplace, Loop 101, SR51 and I-17 freeways, hospitals, JW Marriott Desert Ridge, Wildfire Golf Club and more! The master bath is complete with 2 sinks, soaker tub and travertine shower and a huge master walk-in closet as well with plenty of hanger space. The 2 split bedrooms are over-sized and share a Jack and Jill bathroom. The hallway leading to the two bedrooms has a separate full bathroom that allows for being able to handle a high demand for family and guests. There is also a handy powder room located conveniently near the front entry. The dining room is complete with pillars and 12-foot ceilings that open to the living room. The backyard has your own resort feel. The play pool features a pebble-sheen finish and variable pump for easy and affordable care. A large grassy area, mature citrus trees, travertine pavers, convenient walkways and an entertainment area with a built-in bar-b-que really can turn the backyard into a true home vacation getaway. There is a dog run and a roomy Tuff-shed storage unit as well. The large 3-car garage has top of the line built-in cabinets for plenty of storage space and easy access to your water softener. Close to Desert Ridge Marketplace, loop 101, 51 and I-17 freeways, hospitals, JW Marriott Desert Ridge, Wildfire Golf Club and more.
2223 E Sahuaro Drive
Phoenix, AZ 85028
$1,279,000
3
Beds
3
Baths
2,558
SqFt
Status
Active Under Contract
MLS #
6769057
Property Type
Single Family Residence
Price Type
--
R E L A X in your one of a kind beach-house in the desert. The sand-colored micro-cement brings good vibes to every room. The smooth walls and dimmable lighting make all of the spaces laid back and easy to hang out in. The king-sized front porch makes saying hi to walking neighbors fun while you enjoy city lights and views of 4-peaks. The kitchen is open and friendly with lots of wonderful storage. Your backyard will be your hangout rendezvous. Behind the privacy wall and RV gate is plenty of storage space for RVs, boats, and toy trailers. The massive 2 car garage is finished in an attractive epoxy chip floor and even has a seprate workshop room in the back! Come see this get-a-way today.
41633 N Bent Creek Court
Anthem, AZ 85086
$1,278,900
4
Beds
2.5
Baths
3,437
SqFt
Status
Active
MLS #
6763707
Property Type
Single Family Residence
Price Type
--
This thorough & meticulous update will leave you speechless. Just send the invites... You'll want friends + family to enjoy this comfortable yet spectacular home. Backyard is perfect for a lively party or intimate gathering. The dramatic pool w/ multiple water features terminates at a swim-up bar with a sunken kitchen enveloped by a show-stopping rain waterfall. All expected conveniences are at hand, so you may need to reconfigure your lifestyle to spend more time right here! Mountain views with no homes facing, behind or to one side. Inside, almost nothing has been left undone: Floors, kitchen, baths, paint, HVAC, plumbing, fireplaces, fixtures, hardware... All with casual elegance, timeless style & eye toward long-lasting convenience & comfort. A MUST-SEE!