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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3283 W Mesquite Street
Phoenix, AZ 85086
$1,100,000
4
Beds
3.5
Baths
3,038
SqFt
Status
Active
MLS #
6700603
Property Type
Single Family Residence
Price Type
--
Presenting a stunning new construction luxury home by NEXTGEN Builders to be built: This luxurious home features 4 bedrooms plus an office/den, 3.5 bathrooms, and high-quality finishes throughout. The spacious design includes an oversized 2-car garage plus a 46+ foot RV garage with a 12x14-foot tall garage door, set on a large lot without HOA restrictions. Highlights include an oversized contemporary front door, 2x6 exterior framing, a large kitchen island with quartz countertops, and walk-in closets in all bedrooms. The master bathroom offers a spacious entry shower, standalone tub, and double sinks. Other features include 8-foot doors, high ceilings, energy-efficient spray foam insulation, and a post-tension foundation. Choose your options. Please note, photos are of a model home
9658 E Flanders Road
Mesa, AZ 85207
$1,100,000
5
Beds
4
Baths
3,525
SqFt
Status
Active
MLS #
6750120
Property Type
Single Family Residence
Price Type
--
BRAND NEW Constructionwith NO HOA! Stunning Modern Farmhouse on a 1 ACRE LOT w/ Horse Privileges. 4 Car Side Entry Garage and GUEST LIVING w/ Seperate Entry. Gourmet Kitchen with WOLF APPLIANCES, high-end Cabinets w/ 42'' uppers, White Quartz Countertops, 36'' Cooktop, Built-in Stainless Steel Microwave Drawer and Wood Plank tile Floors. Stunning Master Bathroom with Freestanding Soaking Tub, BEACH ENTRY Modern Glass Shower and Beautiful Double Vanities. Exceptional Energy Efficient - boasting Spray Foam Insulation, Premium Trane 14 seer AC units & High-end Windows. Superior Construction and Craftmanship includes Premium Roofing System, Premium Synthetic Stucco & much more! Close to hiking and horseback riding trails in San Tan Mtns. ESTIMATED COMPLETION DATE Feb/March.
5548 W Silverdale Road
Queen Creek, AZ 85144
$1,100,000
5
Beds
3
Baths
2,720
SqFt
Status
Active Under Contract
MLS #
6697389
Property Type
Single Family Residence
Price Type
--
NEW CUSTOM HOME on 3.3 acres that will include 5 bedrooms, study/office/den, 3 bathrooms, quartz countertops, LVP flooring, designer tile surrounds in bathrooms, N/S exposure, privacy and the most breathtaking views of San Tan Mountains. Bring your horses, bring your friends and enjoy all Silverdale has to offer!
13910 E Dyer Lane
Scottsdale, AZ 85262
$1,100,000
4
Beds
3.5
Baths
3,065
SqFt
Status
Active Under Contract
MLS #
6684623
Property Type
Single Family Residence
Price Type
--
Escape the City life to this Custom Built Nextgen home. Surrounded by sweeping Mountains and nestled at the end of a private Cul-De-sac. Bring your horses & create your Equestrian dream with this large, oversized Estate lot. Enjoy the Outdoor lifestyle with access to Granite Mountain Trail Head, Tom's Thumb & several Golf Courses. Whip up Gourmet meals on your Wolf Gas Double oven & cook top. Beautiful Quartz Counters with large center Island. Chill your favorite beverages in the Zephyr Wine fridge. Split 4-bedroom, 3.5 baths, Den or office. Large Great Room that provides plenty of space for entertaining. Large master retreat with a separate shower & tub & large walk-in closet. Additional bedroom W/Ensuite bath. Large covered patio. Home has never been lived in & priced well. spacious walk-in closet, separate shower & tub and slider to back patio. Custom 8' interior doors throughout. Oversized 2-car garage. Preserve your RV from the AZ Sun with your private 45' RV Garage with 12'X14' doors. Enjoy all the peace and quiet this beautiful North Scottsdale home has to offer
26627 N 104th Way
Scottsdale, AZ 85262
$1,100,000
3
Beds
3
Baths
2,112
SqFt
Status
Active
MLS #
6758295
Property Type
Townhouse
Price Type
--
Beautifully appointed and nestled on a premium lot with breathtaking views of Pinnacle Peak and Troon, this fully-furnished, turnkey home showcases pride of ownership in every detail. Meticulously maintained, this residence blends luxury with comfort, creating the perfect desert retreat. The open floor plan features soaring 12' ceilings in the main great room, seamlessly connecting the interior to the outdoors with multi-slide doors that lead to a large covered patio. The master suite offers a private sanctuary with custom blinds, a spacious walk-in closet, and a spa-like soaker tub for ultimate relaxation. High-end finishes throughout the home include a custom chef's kitchen with elegant white double-stacked cabinets, a stunning 12' granite island, a fully tiled glass backsplash and stylish pendant lighting. Monogram appliances such as a 42 built-in refrigerator, wine fridge, dual ovens, hood vent, dishwasher, microwave, and reverse osmosis system make this kitchen both beautiful and functional. Rustic touches, like a charming barn door and barn wood accents, add warmth and character. Additional features include an epoxy-coated garage floor, built-in garage storage, water softener, and large laundry room with built in cabinetry, mud room bench nook and sink. Perfectly situated in a gated community, this residence provides a lock-and-leave lifestyle for those seeking convenience and peace of mind. Close to premier shopping, dining, and world-class trails such as Pinnacle Peak, Tom's Thumb, and Brown's Ranch, this desert oasis promises a modern, relaxed quality of life.
27651 N 125th Drive
Peoria, AZ 85383
$1,100,000
4
Beds
4
Baths
2,837
SqFt
Status
Active
MLS #
6773344
Property Type
Single Family Residence
Price Type
--
MAJOR REMODEL ON GOLF COURSE! STUNNINGLY UPDATED & CUSTOMIZED THROUGHOUT, 2020-2022! ALL THREE A/C UNITS REPLACED. ALLll NEW FLOORING, NEW CABINETS & QUARTZ COUNTERTOPS throughout! COMPLETE KITCHEN REMODEL! CUSTOM WALK-IN PANTRY ADDED. Custom LARGER Island/breakfast bar. Appliances REPLACED. Buffet wall in adjacent dining area reconfigured +more cabinets & beverage refrigerator added. New wood-look wide plank tile floors & new carpeting. 'Spiritus' with 12-ft ceilings, FOUR bedrooms & FOUR baths including the casita. Spacious, elegant great room/sitting room with wet bar REMOVED & step-down filled in. Bathroom in huge primary suite gutted. New shower beautifully done, tub replaced, new toilet, mirrors & lighting. Other three baths have quartz countertops, new cabinetry, toilets & fixtures Irrigation system replaced with new PVC & rain sensor control, TANKLESS water heater & iHome automation installed, interior painted. Formal dining room turned into den/office with closet added in stepdown area. Pergolas added to front & side courtyards, epoxy added to 3-CAR (2+1) garage, most window coverings replaced-some with remote control. A WASH is on one side of the home. The backyard with extended patio, built-in gas BBQ island& firepit OVERLOOKS THE GOLF COURSE. Close proximity to Kiva Club. Most furniture available by Separate Bill of Sale. SO FABULOUS-MUST SEE in person! This could be the Trilogy at Vistancia home you've been waiting for! This home is located in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge newest community park.
812 E Summerside Road
Phoenix, AZ 85042
$1,100,000
4
Beds
4.5
Baths
3,824
SqFt
Status
Active
MLS #
6771677
Property Type
Single Family Residence
Price Type
--
This modern beauty offers resort-style living at the foothills of South Mountain in the gated master-community Avance! This home is one you won't want to miss! Less than 2 years old, this home is a rare find with many upgrades. This sprawling single level home features 3 bedrooms all with en-suite bathrooms plus a den/office in the main home. An attached casita features a bedroom, living area, kitchenette and a full bathroom. Perfect for multi-generational living or a great private space for guests. Entering through the custom Portico iron gate, you'll find a spacious all-paved courtyard before entering the home. Large open floor plan features plenty of natural light, neutral color palette, and tile throughout the home. The gourmet kitchen boasts a large island with breakfast bar multiple ovens, gas cooktop, butlers pantry/coffee bar and large pass through pantry as well. This dream kitchen can be yours! Over-sized primary suite feature a custom accent wall, spacious spa bathroom, dual vanities and an expansive walk-in closet. The backyard features a large turf area, covered patio as well as huge patio paver space, dog play area on the side of the house and a gas lined for your outdoor grill. Great mountain views and community amenities make this home a must see! Other features include professional sealing of the home to prevent against bugs, etc. No carpet in the home. Porcelain tile throughout. The Reserve backs up to the properties across the street so there will never be any homes beyond this neighborhood. There is also an access gate at the end of the street for the South Mountain trails. Check out the infamous Mystery Castle that you can see from the cul-de-sac just a few doors down!
3350 S Holguin Way
Chandler, AZ 85248
$1,100,000
5
Beds
3.5
Baths
4,377
SqFt
Status
Active
MLS #
6775658
Property Type
Single Family Residence
Price Type
--
Great Location, Amazing Home! Single story from the outside, basement with a theatre room on the inside. Directly off the front entry is the den/library or home office. The kitchen features granite countertops and backsplashes, GE Monogram appliances, gas cooktop and wall oven, with walk-in pantry, kitchenette and plenty of cabinetry space. Formal dining room/great room area adjacent. Relaxation is just a few steps away when you step outside onto the back patio complete with insulated electric roller shades, built in gas grill and pool with a new pump 2024. This wonderful 5-bedroom home has a huge master bedroom with new Anderson sliding glass doors/windows that open to the backyard spa & pool area. Master bath is complete with two double bowl sinks, separate shower and oversized tub and a huge walk-in closet with plenty of storage. Two additional bedrooms and full bath down the hall, two additional bedrooms and full bath in the basement. Full finished basement with wet bar, granite countertops and undercounter fridge. 144 mounted wall screen and projector for your 8-seat theatre room great for entertaining or gaming. Plenty of storage space to be found in this home, half bath located next to the laundry room/workout facility. New irrigation system installed 2024. Financed solar panels will be paid off at COE. Home is located next to the green space/park area in Avalon, Chandler Unified School District. Come see why this home should be your next home.
3946 E Meadowbrook Avenue
Phoenix, AZ 85018
$1,100,000
4
Beds
3
Baths
1,900
SqFt
Status
Active
MLS #
6765658
Property Type
Single Family Residence
Price Type
--
Location, Location, Location! Possible short term creative financing. Your opportunity awaits to live your best life in Arcadia Lite, one of the most sought-after areas in all of Phoenix for homes under $5M. This incredible 10,019 sq.ft. lot is perfect for building your dream home, remodeling the current home for your self or a making it a luxury rental property. It's prime location offers convenience and luxury as it is situated just moments away from Postino, Ingo's and LGO, and within minutes of Paradise Valley, Camelback Mountain, hiking trails, Scottsdale Fashion Square, Biltmore Fashion Park and Sky Harbor International Airport. This property is a must see.
23935 N 80th Drive
Peoria, AZ 85383
$1,100,000
4
Beds
3.5
Baths
2,879
SqFt
Status
Active
MLS #
6725146
Property Type
Single Family Residence
Price Type
--
Welcome to your new home! This 4 bed 3.5 bath has vaulted ceilings throughout, large open, split floor plan, and a resort style backyard. New HVAC! Plenty of natural light, walk in pantry, huge built in BBQ, and outdoor gas fire pit. Plenty of yard space for kids to play and a resort style pool with a table to sit around. The additional 3 car garage/shop is perfect for the car enthusiast! Bonus room with full bath is great for a man cave, game room, she shed, or convert to an additional bedroom! The home also features solar for low cost utilities. Low property taxes. $4381 in 2023. Located in a quiet culdesac, this gated community of Eagle Canyon feels like home. You don't want to miss this one!!
5202 W Soft Wind Drive
Glendale, AZ 85310
$1,100,000
4
Beds
2.5
Baths
2,692
SqFt
Status
Active
MLS #
6735125
Property Type
Single Family Residence
Price Type
--
Original owners are now selling this fabulous, well-maintained custom 4 bedroom, 2.5 bath single-level home in the wonderful Saddleback Estates. This home sits on a spacious north/south exposure lot of .823 acres with mountain views, a desirable RV gate and parking with RV clean-out, and no HOA to worry about. Recent upgrades include a new hot water heater installed in 2024, a new A/C unit in 2010, and a new roof in 2019. Once inside, appreciate the spacious open floor plan, durable tile flooring in all the right places, a soothing neutral color palette, and a welcoming formal living and dining room with an easy flow into the gourmet chef's eat-in kitchen. Here, you can enjoy matching black appliances, view windows above the kitchen sink bringing in natural light, ample cabinet and countertop space, and a large breakfast bar open to the family room featuring a cozy fireplace. The family room seamlessly flows into the breakfast room, which highlights a double door exit to a side patio, making it easy to entertain family and friends. From the family room, you have wonderful access to the extended covered patio, bringing the outdoors in and extending your entertainment area. Enjoy the putting green, built-in BBQ, and fireplace. The property also includes a detached 2-car garage and workshop with RV parking, plus an additional 2-car carport, along with ample room for endless possibilities. The main house is equipped with a 2-car attached garage and plenty of slab parking for additional vehicles or an RV. Back inside, the primary suite offers a private exit to the side yard and a lavish ensuite bathroom with a custom tiled walk-in shower, deep soaking tub, dual sinks, additional vanity space, and a large walk-in closet. The three remaining bedrooms include one with a separate exit and a kitchenette, a guest bath, powder room, a spacious private office, and a convenient laundry room that includes the washer and dryer. Located in a great area close to top-rated schools in the Deer Valley School District, Glendale Community College, Hurricane Harbor for entertainment, Thunderbird Park and Deem Hills for hiking and biking trails, and just minutes to I-17 Freeway and the Norterra area for shopping and popular restaurants. Don't miss this incredible opportunity!
7320 E Sliding Stop Lane
Cornville, AZ 86325
$1,100,000
3
Beds
2
Baths
2,258
SqFt
Status
Active
MLS #
6732998
Property Type
Single Family Residence
Price Type
--
If private, cozy and quiet is what you are looking for, look no further. This property is an outdoor enthusiasts dream. Bordering US Forest Service land (no motorized vehicles allowed) gives you the opportunity to hike, bike or trail ride literally right out your back door. This 2258 square foot 3bed/2 bath custom home offers a split floor plan, vaulted ceilings, large windows that allow plenty of natural light and the ability to enjoy the amazing 360 degree views. For the horse lovers there are 3 covered horse stalls, round pen, hot walker, arena and a turnout, For the athlete there is a basketball court, pool table and a hot tub. Property is fully fenced to house all of your furry friends. This is a truly one of a kind property, so come take a look.