3 Different Types of Loan That Will Negatively Impact Your Ability to Get a Mortgage

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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

31559 N Pamela Drive San Tan Valley, AZ 85144

$1,100,000

4 Beds

3.5 Baths

3,020 SqFt

Status Active

MLS # 6754867

Property Type Single Family Residence

Price Type --

AMAZING HIGH END CUSTOM HOME WITH MODERN CONTEMPORARY STYLE ON OVER 3 ACRES. OWN YOUR OWN PIECE OF A MOUNTAIN WITH AMAZING VIEWS AND PRIVACY. HUGE OPEN FLOORPLAN WITH TONS OF UPGRADES. CUSTOM KITCHEN WITH BUILT IN FRIDGE AND FREEZER AND DOUBLE OVENS. CUSTOM PANTRY SETUP WITH PLACE FOR UNDERCOUNTER BEVERAGE CENTER AND PREP COUNTER. HUGE BACK SLIDING DOOR OPENS UP TO YOUR OWN MOUNTAIN WITH TONS OF PRIVACY AND SO MUCH POTENTIAL. THIS HOUSE WILL BE DONE APPROXIMATELY THE MIDDLE OF OCTOBER BUT YOU CAN VIEW IT TODAY! DONT WAIT, THIS ONE WILL NOT LAST. YOUR CHANCE TO OWN A VERY UNIQUE HIGHLY UPGRADED CONTEMPORARY STYLE HOME IN A VERY SOUGHT AFTER AREA THAT IS MOVE IN READY WITH FRONT YARD AND BACKYARD LANDSCAPING. VIDEO AND PICTURES ARE A RENDERING AND NOT EXACT.

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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.

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1112 E Arroyo Road Phoenix, AZ 85086

$1,100,000

4 Beds

2.5 Baths

3,181 SqFt

Status Active

MLS # 6760214

Property Type Single Family Residence

Price Type --

Are you ready for a home that has it all? A stunning 4-bedroom, 2.5-bath residence with tranquil mountain views, versatile entertainment area, RV hookups and a welcoming vibe! Nestled on an oversized one-acre lot, there is room to customize it or simply enjoy the gorgeously landscaped yard while relaxing around the wood burning firepit or from the extended covered patio! Inside there is an open and spacious family room with an entertainment niche, fireplace and high ceilings. The kitchen is functional and beautiful with wood cabinetry, granite counters, and newer Cafe appliances. The spacious master bedroom has patio access to the hot tub, two walk-in closets, and a lavish ensuite w/dual sinks. All of this plus 2 RV gates -1 dedicated RV parking with 50 amp, water, and sewer access.

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11239 E Oberlin Way Scottsdale, AZ 85262

$1,100,000

3 Beds

2.5 Baths

2,826 SqFt

Status Active

MLS # 6757633

Property Type Single Family Residence

Price Type --

Location Location Location.... Private Cul de Sac lot backing to NAOS and the George ''Doc'' Cavalliere Park and all with direct access to the Pinnacle Peak and McDowell Mountain hiking trail systems. This is a chance to own this super popular floor plan in Echo Ridge. Bright open floor plan with 3 spacious bedrooms, 3 car garage, travertine tile, private salt water pool, separate electric spa, and all with great views. Vacant and ready for quick access and closing. Owner Broker Agent

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4926 N 210th Avenue Buckeye, AZ 85396

$1,100,000

2 Beds

2.5 Baths

2,534 SqFt

Status Active

MLS # 6767287

Property Type Single Family Residence

Price Type --

Breathtaking Golf Course and Mountain Views! Luxurious Pool, Pergola, and Travertine Patio! This Traveler plan by Maracay is nestled in the picturesque tree-lined streets of Phase One in Victory at Verrado. Enjoy the blend of luxury and comfort, featuring thoughtfully selected options, upgrades, and timeless updates. Enjoy the cozy ambiance created by a stunning rock wall fireplace, along with ceiling fans, upgraded flooring, stylish lighting, premium appliances, elegant countertops, staggered cabinetry, and built-in speakers both inside and out. The patio is equipped with roller shades to enhance your outdoor experience. This home is a true gem, perfect for entertaining friends and family, who will appreciate the privacy of the guest suite complete with its own bathroom. Victory at Verrado embodies the essence of 55+ living, offering a vibrant community and exceptional lifestyle. Don't miss this incredible opportunity to make this dream home your own!

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3126 N 6th Avenue Phoenix, AZ 85013

$1,100,000

3 Beds

3 Baths

2,458 SqFt

Status Active

MLS # 6767223

Property Type Single Family Residence

Price Type --

Seller Carry - 3.5% - Wrap Around Loan Available: Seller has remaining balance of approximately 490k. They are willing to carry that 490k for the buyer at a rate of 3.5%!! One-of-a-Kind Architectural Masterpiece in North Park Central. Welcome to one of Phoenix's most unique homes! Originally crafted by renowned architect Romauldo DeBlas in 1976, this architectural gem in the North Park Central neighborhood is truly one of a kind. It stands out with its bold mid-century influence paired with forward-thinking modern design, creating a home that is both timeless and visionary. In a city where basement homes are rare, this property is unmatched in character and style. Property Highlights: - Mid-Century Modern Design: Built by Romauldo DeBlas with recent updates that enhance its original architectural vision. - Architectural Beauty with exposed CMU blocks, soaring glass walls, and clerestory windows, providing stunning natural light and open space. - Eco-Friendly Features: Solar panels (leased with the home) and parking for 4+ vehicles with EV charging capability, promoting sustainable living. - Entertainment-Focused Amenities: A spacious pool with a large deck and seating area, a relaxing jacuzzi, and a finished basement ideal for gatherings. Nestled centrally in Phoenix this desert oasis offers both relaxation and function. Whether you're looking for a remarkable residence or an income-generating property, this home checks all the boxes. Currently operating as a short-term rental with a packed calendar, it has proven to deliver impressive returns of 50k-70k Annual Revenue. Over $125,000 in recent upgrades and repairs, including: - New sewer and water lines from the house to the street. - Pool resurfacing with Pebble Tec, complete with a 20-year warranty. - All pool pump components upgraded for maximum efficiency. - Liberty Home Guard extended home warranty covering everything inside the home for 5 years. Please Note: Showings will be available starting in early December due to its high-demand rental schedule. Don't miss the opportunity to own this one-of-a-kind Phoenix landmark, blending history, design, and incredible investment potential! Home furnishings are available for purchase if desired.

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7642 N 177th Avenue Waddell, AZ 85355

$1,100,000

4 Beds

3 Baths

2,500 SqFt

Status Active

MLS # 6769258

Property Type Single Family Residence

Price Type --

Beautifully maintained home in the highly sought after community of Clearwater Farms! This lovely home offers 4 spacious bedrooms, 3 full baths, a unique split floorplan with one of the secondary bedrooms offering an attached bath and separate entrance/exit, this home definitely lends to the possibility of multigenerational living. You will also be pleased to find a spacious primary bedroom and en suite, two additional large bedrooms, fresh interior paint, newly updated fireplace surround, oversized 3 car garage with charging station, fresh exterior paint, large covered patio, beautiful sparkling pool, fully fenced for peace of mind, lush green pastures, 2 irrigated acres, mare motel, tack room, wash rack, riding arena and round pen..... enjoy ALL OF THIS while taking in the most beautiful Arizona sunset over the White Tank Mountains. This is truly country living at it's finest...just outside the city limits!

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14254 N 46th Place Phoenix, AZ 85032

$1,100,000

4 Beds

2.5 Baths

3,124 SqFt

Status Active

MLS # 6770362

Property Type Single Family Residence

Price Type --

Discover this stunning light-filled, single-story gem just 5 minutes from Paradise Valley, offering an elegant blend of design and comfort. Step through the grand double-door entry into a spacious 4-bedroom, 2.5-bath home featuring vaulted ceilings and an abundance of clerestory windows that bathe the interior in natural light. The open-concept layout includes a sprawling kitchen, perfect for gatherings, along with a cozy family room anchored by a fireplace. Formal living and dining areas provide the perfect setting for entertaining, while the oversized, split Master Suite boasts a sitting area and private backyard access. Outdoors, a covered patio overlooks a pristine pool and spa, with a lush, green lawn. The roof underlayment and AC units were new in 2017/2016.

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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!

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35916 N 213th Drive Wittmann, AZ 85361

$1,100,000

5 Beds

4.5 Baths

4,332 SqFt

Status Active

MLS # 6775802

Property Type Single Family Residence

Price Type --

Whether you are looking for a full time respite or thinking of a winter retreat, this one has something for everyone. Located in the heart of the ever popular Wittmann Dally Alley, your new home offers a large yet comfortable spaces with Alder accents, 4 fireplaces, 2 primary suites and 3 additional bedrooms. From the pool table to pool, this home offers a welcoming space for entertaining. Stepping outside, the property is fully fenced and past the pool you will find a horse stalls, large garden area, chicken coop, along with a comfortable casita. The 3 car garage is extended, with one stall having the ability to drive through. There is enough property to add additional horse stalls, or a round pen. This one leaves lots of room for possibilities, please come take a look for yourself!

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18439 W Beryl Court Waddell, AZ 85355

$1,100,000

4 Beds

3 Baths

4,862 SqFt

Status Active

MLS # 6777906

Property Type Single Family Residence

Price Type --

There simply is not a property in Waddell that compares to this immaculate two story sitting on over an acre. A covered patio with built in BBQ overlooks the sparking pool with water features. Need a guest house? There is plenty of room to expand if the 4862 sq ft isnt enough for you and your family. Located within the gated community of Cortessa, you will have security and a custom built neighborhood with mountain views and park-like surroundings. Above the massive great room is an equally massive loft/game room. Exreme attention to detail throughout this magnificent property.

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18965 S 196th Place Queen Creek, AZ 85142

New

$1,100,000

5 Beds

3.5 Baths

3,882 SqFt

Status Active

MLS # 6783169

Property Type Single Family Residence

Price Type --

Welcome to your dream home in La Jara Farms II! This stunning single-story residence on a sprawling .44 acre offers 5 bedrooms, 3.5 baths, and a spacious 3-car garage. Designed for comfort and style, this home features an open floor plan with modern finishes throughout. The gourmet kitchen, complete with premium appliances and a large island, is perfect for entertaining. Retreat to the expansive backyard to enjoy Arizona's beautiful sunsets. Located in the heart of Queen Creek, close to shopping, dining, and top-rated schools. Don't miss out—this is luxury living at its finest!''

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