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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3014 E Winchcomb Drive
Phoenix, AZ 85032
$1,294,900
4
Beds
3
Baths
3,272
SqFt
Status
Active
MLS #
6742731
Property Type
Single Family Residence
Price Type
--
A rare opportunity in the Cimarron Manor community. this beautifully appointed custom home with No HOA on over a 1/4 acre lot, and close to Scottsdale, 51 & 101 Freeways, Camelback Corridor, Downtown Phoenix, Central Corridor, and minutes to the airport. 4 bedroom 3 bath home. In 2022 replaced roof, solar panel system, remodeled pool, pool heater, repainted, new flooring, putting green, exterior paint., and LG Fridge. There is an 80 gallon water heater, soft water & filtration system. In primary bedroom, there is a gorgeous walk in closet, Steam Shower, and Toto Toilet. Full wet Bar. Backyard and a sizeable grassy lawn, and does the front yard. Plenty of space to entertain both inside and out. You do not want to miss this one. Can sell as fully furnished as well.
3756 E Galvin Street
Cave Creek, AZ 85331
$1,294,000
3
Beds
3
Baths
3,861
SqFt
Status
Active
MLS #
6673322
Property Type
Single Family Residence
Price Type
--
Magnificent mountain views, high ceilings and tasteful finishes greet you upon entering this meticulously maintained and very spacious home with north/south exposure, new interior and exterior paint and a fabulous backyard. Enjoy privacy and gorgeous sunsets. Approach from a circular drive, then through a formal entry that invites you into a large comfortable great room with gas fireplace and access to the backyard. The dining area is open to the large kitchen with its cherry cabinets, granite countertops, gas cooktop and island. Relax in your master suite (20x20), large bathroom & huge closet. The office is perfect for a work from home lifestyle and has custom dual desk cabinetry. See the big bonus room for workouts, TV, toys, billiards, and the laundry room has loads of storage. The resort like backyard with travertine pavers boasts beautiful mountain views, play pool with water feature, built-in gas BBQ, gas firepit and new artificial grass! Owned Solar is the icing on the cake!
6235 E Larkspur Drive
Scottsdale, AZ 85254
$1,294,000
3
Beds
2
Baths
2,528
SqFt
Status
Active
MLS #
6734145
Property Type
Single Family Residence
Price Type
--
NO HOA - Welcome HOME to your private oasis in the coveted 85254 zip code. Situated on over half an acre, this meticulously updated property offers an abundance of amenities. Step into elegance with this remodeled home featuring an open concept design that seamlessly blends indoor and outdoor living. Enjoy the warmth of plank tile flooring in the spacious living and family rooms, complete with a cozy fireplace. The upgraded kitchen boasts stainless steel appliances & an oversized butcherblock island with sleek finishes. Overlook your personal paradise through expansive kitchen window to see sprawling landscape of mature trees & a vast park-like yard, complemented by a stunning PebbleTec diving pool and a charming gazebo (with misting system). Kids will revel in their own wonderland with a great lighted climbing tree & jungle gym offering endless joy and laughter from morning to night. For the adventurous adults, the property features a generously sized RV gate with 30amp power on one side & another RV gate ideal for a boat or trailer on the opposite side. Additional 2 car detached garage with workshop. Conveniently located near Kierland Commons & Scottsdale Quarter, this exceptional home caters to every family member's desires. Don't miss this opportunity to own a slice of Scottsdale paradise!
27722 E Mount Ord Drive
Fort Mcdowell, AZ 85264
$1,290,000
3
Beds
2.5
Baths
3,083
SqFt
Status
Active
MLS #
6707788
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning southwestern home in Sunflower, AZ, offering the perfect blend of comfort & luxury. Nestled in a private gated community, this property boasts breathtaking mountain views and enjoys the great climate of Sunflower. This home features 3 bedrooms, 2.5 bathrooms, a bonus room, providing ample space for relaxation. The open-concept living area is perfect for hosting gatherings, while the wellappointed kitchen, complete with modern appliances and a spacious island. Two additional improved lots are available. Outside the property spans 1.82 acres. Solar Electrical System, Community well, whole home off grid.
17662 E Blaze Lane
Rio Verde, AZ 85263
$1,290,000
3
Beds
3.5
Baths
3,004
SqFt
Status
Active
MLS #
6782079
Property Type
Single Family Residence
Price Type
--
Welcome to your desert oasis in the heart of Trilogy at Verde River! This stunning 3-bedroom, 3.5-bathroom home is a true gem, boasting the popular Orion floor plan that's perfect for both relaxation and entertainment. As you step inside, you'll be greeted by neutral porcelain tile that flows seamlessly throughout the home, creating a cool and inviting atmosphere. Perched on a corner lot, this property offers mountain views, providing a picturesque backdrop for your daily life. The chef's kitchen is a culinary enthusiast's dream, featuring a huge center island and an abundance of cabinets with convenient pull-out drawers. Whip up gourmet meals while your guests mingle in the open-concept living area, or take the party outside to the built-in BBQ on the generous covered patio. The primary bedroom suite is a true retreat, complete with a luxurious soaking tub and a spacious walk-in closet. A den/office provides the perfect space for remote work or quiet study, while the bonus/media room offers endless possibilities for entertainment or relaxation. Practical amenities abound, including a utility sink in the laundry room, reverse osmosis system, and water softener. Located in the beautiful resort-style community of Trilogy at Verde River, you'll have access to world-class amenities and the nearby Vista Verde Golf Club. Don't miss this opportunity to live in a home that combines luxury, functionality, and stunning natural beauty. Your desert dream home awaits! Trilogy at Verde River is a Resort Style community featuring something for everyone! Tom Lehman designed golf course, tennis, pickle ball, bocce ball, heated lap pool and swimming pool, hot tub, fitness center, demonstration kitchen and a 7.5 acre dog park. The community center has casual and fine dining, luxury spa and an events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails yet close to the conveniences of affluent North Scottsdale. Live like you're on vacation!!
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.
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: -
15724 E Sunflower Drive
Fountain Hills, AZ 85268
$1,290,000
3
Beds
3
Baths
3,430
SqFt
Status
Active Under Contract
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.
17518 E Whitethorn Drive
Rio Verde, AZ 85263
$1,290,000
4
Beds
3.5
Baths
3,651
SqFt
Status
Active
MLS #
6735190
Property Type
Single Family Residence
Price Type
--
Nestled on a peaceful road among breathtaking mountain vistas, this home offers unparalleled resort-style living in serene Rio Verde. A thoughtfully designed split floor plan allows for privacy with the primary bedroom split to one wing, away from the other 2 bedrooms in the main house. An attached 1bed/1bath casita is accessible from the back patio. Entertain effortlessly in the great room with a cozy fireplace, a huge built-in entertainment center, a sophisticated built-in bar, and game room with space for a pool table. Adjacent is the chef's kitchen with a large island, granite countertops, stainless steel appliances, and a walk-in pantry. Versailles pattern travertine & engineered wood floors as well as other beautiful finishes throughout the home. The deluxe master has an oversized bath suite with an adjoining room that can be used as an office, workout space, or an extra closet. Stunning views of the Tonto National Forest serve as a picturesque backdrop while you're relaxing in the sparkling pool or in the new above ground hot tub among beautiful landscaping and wide-open skies. Additional upgrades in addition to the new hot tub include 2 new A/C units in 2022, an RV Hookup with it's own separate breaker, and an extensive critter fence installed around the perimeter. Don't miss this invitation to luxurious living here in Rio Verde!
9255 W Buckskin Trail
Peoria, AZ 85383
$1,290,000
4
Beds
3.5
Baths
4,089
SqFt
Status
Active
MLS #
6708890
Property Type
Single Family Residence
Price Type
--
Welcome to your custom retreat on 1.2 acres in Peoria, ideally located near Lake Pleasant and featuring an impressive 1900 SF RV/Boat Garage. This home offers 4 bedrooms and 3.5 bathrooms, providing ample room for your multi-generations. The gourmet kitchen is a chef's delight, equipped with high-end appliances and finishes, and flows seamlessly into a great room with a breakfast bar, cozy breakfast nook, and formal dining area. Entertain effortlessly in the indoor/outdoor living spaces, which include a putting green, basketball hoop, covered patio, BBQ area, spa, and a sparkling pool that invites relaxation and enjoyment. The spacious layout also features a large workout room with an adjoining steam room, perfect for maintaining your fitness routine. For those who need extra storage or workspace, the property includes a 1900 SF detached RV garage with a large garage doors, one for your RV and the other to store your beautiful boat to take to Lake Pleasant. This garage has ample storage, a workshop, and can accommodate up to 4 additional cars, making it ideal for car collectors or hobbyists. Don't miss the opportunity to own this exceptional property that combines luxury, functionality, and ample space for all your needs.
9344 E Via De Vaquero Drive
Scottsdale, AZ 85255
$1,290,000
3
Beds
3
Baths
2,769
SqFt
Status
Active
MLS #
6727480
Property Type
Single Family Residence
Price Type
--
Located in the highly sought-after DC Ranch community, this move-in ready Terraces West home offers 3 bedrooms, 2.5 baths, with the master bedroom conveniently on the ground floor. The open floor plan, complete with separate living, dining, and family rooms, is perfect for entertaining. Situated on a north/south cul-de-sac lot with no homes across the street, this home provides stunning views of the McDowell Mountains. If you're looking for a DC Ranch property in The Terraces, this is the perfect opportunity to make it yours!
27832 N Silverado Ranch Road
Peoria, AZ 85383
$1,290,000
4
Beds
3.5
Baths
3,532
SqFt
Status
Active
MLS #
6752926
Property Type
Single Family Residence
Price Type
--
Discover the tranquility of mountain vistas and the Sonoran Desert with this stunning home! This highly sought-after Whistler plan by Taylor Morrison is nestled in the esteemed Northlands community of North Peoria. Revel in nearby hiking and ATV trails, nearby Lake Pleasant, and breathtaking sunsets. Located in the prestigious Summit Section, this home backs onto the magnificent Calderwood Butte, offering sweeping panoramic views. With exceptional curb appeal, this home is bathed in natural light. The gourmet kitchen boasts upgraded quartzite waterfall countertops, white pinstriped cabinets, and stainless steel appliances, flowing seamlessly into a coffee/wine sitting area looking out to the amazing view. *BUT WAIT, THERE'S MORE* The kitchen is open to the spacious family room with a large built-in entertainment center. The generous primary bedroom features a custom closet with ample storage. With three additional bedrooms and 2.5 bathrooms, there's plenty of space for family and guests. Unwind under the extra-wide pergola, savor the views, enjoy a cocktail, and listen to the soothing sounds of your pool's waterfalls. Whether you love hiking, spending a day at the lake, or simply enjoying the tranquility of your surroundings, this remarkable home offers it all. Don't miss out - come see it today!!
