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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17715 E Cindercone Road
Rio Verde, AZ 85263
$1,049,000
2
Beds
2.5
Baths
2,316
SqFt
Status
Active
MLS #
6764222
Property Type
Single Family Residence
Price Type
--
Extraordinary Brasada model home in the fabulous Trilogy at Verde River featuring breathtaking mountain views & state-of-the-art amenities! Inside this gorgeous 4 bedroom residence, discover a welcoming foyer leading into a bright great room with clean lines & a sleek design promoting a sense of openness & greater traffic flow. Tall ceilings, wood plank tile flooring, soft tan palette, recessed lighting, and an expansive sliding glass door connecting the interior with the outdoors are worth mentioning. The magnificent kitchen showcases white cabinets with crown moulding, subway tile backsplash, granite counters, high-end SS appliances, abundant storage, and an oversized island with pendant lighting over the breakfast bar. The owner's suite is a perfect retreat hosting a huge bathroom with dual sinks, soaking tub, built-in bench, and a step in shower. In addition, you'll find a sizable den behind an oversized sliding door. The large laundry room features attached cabinetry & a utility sink for added convenience. The backyard offers beautiful tile flooring for you to relax & enjoy exceptional sunsets under the covered patio. Live the lifestyle you've dreamed of here in paradise!
22580 E Alyssa Drive
Queen Creek, AZ 85142
$1,046,667
4
Beds
3.5
Baths
3,363
SqFt
Status
Active
MLS #
6741189
Property Type
Single Family Residence
Price Type
--
Lovely former model home in Terrace at Madera boasting a modern farmhouse architectural style with furnishings included. Loaded with designer features, this spacious home has a custom pool with a water feature, a game room, open office, nook, and a formal dining room with a butler's pantry pass through to the kitchen. The kitchen boasts executive GE appliances with SS double ovens, a microwave, 36'' gas cooktop and vent hood, a stainless Steele refrigerator, Windsor painted boulder cabinets with extended cabinets at the nook, upgraded calacatta jubilee quartz countertops with waterfall edges, and designer backsplash. The great room has a built-in entertainment cabinet and a 16' center pull slider. The home has a February 2025 COE.
37723 N 12th Street
Phoenix, AZ 85086
$1,045,000
4
Beds
2.5
Baths
2,750
SqFt
Status
Active
MLS #
6755512
Property Type
Single Family Residence
Price Type
--
This ranch-style home sits on 1.02 acres with beautiful curb appeal and more to offer inside. A paver driveway leads to an oversized 2-car garage, providing ample space for two full size vehicles and extended storage. The home comes equipped with two RV gates to meet all your recreational needs. Stepping inside the home, you will be met with a perfect blend of luxury and comfort. The 12-foot ceilings in the great room create an open atmosphere and bring in plenty of natural light. The kitchen is detailed with custom cabinetry, white quartz counters and perfectly chosen backsplash. Stainless steel appliances perfectly accentuate this modern kitchen and provide plenty of hosting opportunities with double ovens. A walk-in pantry is perfect for a coffee bar and endless large cabinets provide plenty of space for additional appliances. The main bedroom is a bit of a sanctuary with windows overlooking the mountains and a main bathroom that does not disappoint. The main bathroom has a soaking tub, large shower and dual vanities. The master bath leads to a large walk-in closet and laundry room. The home offers a split floor plan with two other bedrooms and bonus room on the opposite side of the home. The fourth bedroom doubles as a home office with statement barn-doors and custom cabinetry to house all your storage needs. Taking a walk through the backdoor, you can sit under the large back patio and watch the sunrise over the mountains. The backyard is perfect for outdoor entertaining with a gazebo, dining table and built-in Traeger smoker. The home offers a large area of artificial turf and a children's play area. The back portion of the property provides plenty of room to meet all your needs. Horses? RV Garage? Casita? Make your dreams a reality here! Come see this home and fall in love. Additional Details: - 400 amp service - City water - Spray foam insulation including garage - Extra large 18' insulated garage door - Recirculating pump for water heater - High efficiency water softener - Pre wired for speakers inside and outside - Soft close door and drawers throughout the home - Gas cooktop and fireplace - Pot filler - LED lighting throughout house - Spacious attic storage - Switched exterior outlets for exterior string lighting - Holiday light package - Pull down stairs for attic access - Kitchenaid appliance in kitchen - Luxury vinyl flooring - Synthetic Stucco - Anderson dual-pane windows
17187 W Piperton Street
Surprise, AZ 85388
$1,044,400
4
Beds
3.5
Baths
3,743
SqFt
Status
Active
MLS #
6680174
Property Type
Single Family Residence
Price Type
--
STUNNING NEVER LIVED IN TOLL BROTHERS HOME IN STERLING GROVE!! Priced below replacement cost! Features 4 beds, 3.5 baths, and 3,743 sq. ft., including a convenient main floor office. The chef's kitchen boasts upgraded white cabinets, a 48'' gas cooktop, double wall ovens, a vast granite island, and a spacious pantry. Sterling Grove isn't just a neighborhood, it's a lifestyle. Picture this: gated community, 24/7 security, and amenities galore - Nicklaus golf, 3 pools, 4 tennis courts, 13 pickleball courts, gym, fitness room, spa, you name it. Plus, there's a top-notch charter school right across the street. This pristine canvas awaits you! Be the first to enjoy this exquisite home nestled within Sterling Grove Golf & Country Club! Unwind in the luxurious master suite with a large tiled shower and custom tile. Enjoy the luxurious feel with the wide plank engineered-wood floors and upgraded carpet throughout. Upstairs, discover 3 beds and 2 baths; one bedroom could easily serve as a second master with the addition of a barn door. The owners installed a Guardian garage floor and high-end whole house water filtration system but never used them. This place is all about comfort and convenience, starting with upgraded spray foam insulation in every nook and cranny, including the garage walls. Say goodbye to those pesky temperature swings and hello to cozy consistency all year long! Techies, rejoice! We've got an upgraded 400-amp electrical panel ready to power up your gadgets and gizmos. And hey, if a pool is in your plans, we've already set up the electrical panel for you! Need to grab groceries or do some shopping? You've got Costco, Safeway, Sprouts, Hobby Lobby, Dick's Sporting Goods, TJMaxx, HomeGoods nearby with Target, Home Depot and even more stores on the horizon. Getting around? Piece of cake. The 303's just a hop, skip, and a jump away. And if you're into outdoor adventures, White Tanks Regional Park is practically in your backyard. Sports fanatics, rejoice! State Farm Stadium and Westgate are a short drive away, along with MLB spring training venues for your dose of America's favorite pastime. So, what are you waiting for? Come experience the laid-back luxury of Sterling Grove - where every day feels like a vacation.
5250 E Deer Valley Drive Unit 256
Phoenix, AZ 85054
$1,040,250
2
Beds
2.5
Baths
1,777
SqFt
Status
Active
MLS #
6646796
Property Type
Apartment
Price Type
--
Furnished or /Unfurnished - Buyer's Choice. Lock and leave lifestyle. Pool View from oversized balcony featuring a vented built-in grill. Luxury amenities at The Luxe at Desert Ridge is located across from High Street + Desert Ridge Marketplace. - refined living experience. Clubhouse features meeting spaces, large entertaining kitchen & coffee bar. Relax in the movie lounge, stay fit in the 4400 sqft gym, or swim in the Olympic-length pool. Residents also enjoy additional amenities, including access to Toscana's staff service, heated pools, spas and fitness centers. Close to JW Marriott with access to Golf, 5 minutes away from Mayo Clinic, 10 mins to Scottsdale Qtr, & Kierland Commons, with easy freeway access. Artwork in Entryway and Bonus (Flex) room do not convey.
8502 E Catalina Drive
Scottsdale, AZ 85251
$1,040,000
6
Beds
3.5
Baths
2,000
SqFt
Status
Active
MLS #
6745794
Property Type
Single Family Residence
Price Type
--
This exceptional 6-bedroom haven delivers on every level. The home features two primary suites, a formal dining area, an entertainer's dream backyard that is NE facing w/ covered patio, sparkling pool, built in bbq/pergola, putting green, turf gaming area & pavers! The home was extensively renovated in 2010 & then the former garage was converted into livable space in 2023 adding 2 new bedrooms, 1.5 new bathrooms & an inside laundry room. This home is ideal for multi-generational living or hosting extended family. The yard features a plentiful pink grapefruit tree & is all turf/rock/low maintenance. Pima Park & BlackRock Coffee are just down the block. The ideal South Scottsdale location is close to both Old Town Scottsdale & the 101 for easy access to the rest of the valley.
1130 E Peach Tree Drive
Chandler, AZ 85249
$1,039,970
4
Beds
3.5
Baths
2,688
SqFt
Status
Active
MLS #
6782352
Property Type
Single Family Residence
Price Type
--
New Home Chandler, Quick Closing, Backing to Open Space. Highly upgraded with woodlook Tile Floors , No Carpet on Single Level Quartz Counters See Photos, Backsplash, up to 12' Ceiling, Lovely Bathroom Counters and Framed Mirrors, Bathrooms in All Bedrooms, Light Exterior with Brick Accents...Quiet Area with 100 Homes to be Built. A Large Focal Point is 'Central Park' as you Drive into the Community Park has the Large Events Lawn, Pickleball Courts, Basketball, Tot Play Area, Fire Pit and Barn Like Remada. 3 Acres of Resort Like Ammenities! Home is at the North End of the Community with Green Belt Behind and Single Levels to Both Sides. Near both 202 Loop and I10 making access to San Tan and Chandler Mall a Breeze. Close to Chandler Med Center,work and Restaurant Pix of Model
10583 E Palomino Road
Scottsdale, AZ 85258
$1,039,950
3
Beds
2
Baths
1,865
SqFt
Status
Active Under Contract
MLS #
6763654
Property Type
Single Family Residence
Price Type
--
Stunning re-imagined remodel! Vibrant open floor plan is an entertainer's dream. Bold, new designed kitchen opens up into large living and dining room. Family room has an exquisite fireplace. Waterfall quartz countertop wraps custom cabinets, with plenty of storage and professional stainless-steel appliances. Large island has plenty of seating and is a great spot for conversation. The master bath has an amazing new upgraded walk-in closet with custom built-ins and a gorgeous modern tiled shower. This home has all new dual pane windows, front door, solid core interior doors, flooring, paint, baseboards, plumbing and lighting. Too much to list! Over a 1000 sq. ft. of brand-new turf installed in the tranquil backyard. Make this one yours before it is gone. Owner/Agent.
26055 N 85th Drive
Peoria, AZ 85383
$1,037,000
4
Beds
3
Baths
3,037
SqFt
Status
Active
MLS #
6781347
Property Type
Single Family Residence
Price Type
--
Welcome to this Stunning 4 bed, 3 bath single-story Tuscany villa-style home in North Peoria! This Luxe residence boasts an expansive floor plan w/opulent finishes. Large windows filling the home w/natural light, high ceilings, neutral tile flooring in living areas, and plush carpet in bedrooms. New custom rustic iron front doors and upgraded lighting fixtures add charm and elegance throughout. The chef's kitchen features rich walnut cabinetry, extensive granite countertops and backsplash, stainless steel appliances and lots of storage. The oversized primary suite is a luxurious retreat with walk-in shower, and a separate Roman soaking tub. All guest bathrooms are upgraded with granite countertops and modern finishes. Step outside to enjoy a private central courtyard complete w/hot tub and fireplace, perfect for a cozy evening under the stars. Extended driveway, 3 car garage with a large custom mezzanine for storage, and fresh exterior paint. Step outside to a spectacular resort-style backyard featuring a sparkling pool w/rock-accent waterfalls, Baja deck and Pergola. Enjoy a sophisticated outdoor entertaining area w/lush landscape, fire-lit table, something for everyone. A true entertainer's paradise!
2114 W Rowel Road
Phoenix, AZ 85085
$1,036,822
3
Beds
3.5
Baths
2,983
SqFt
Status
Active
MLS #
6724580
Property Type
Single Family Residence
Price Type
--
Quick Move-in Ready Home! Cachet Homes Encore at Union Park offers luxury semi-custom single-level homes in a prime location. This Bravo Plan three features 2,983 SF, 3 bedrooms, 3.5 baths, a 3-car garage, game room, den, and an open-concept kitchen with a large island and quartz countertops. Additional upgrades include desert front and backyard landscaping, Shaker white cabinets, luxury LVP flooring, upgraded tile and carpet, and more! Community amenities feature multiple parks, community pool, rec center, pickleball, along with convenient access to shopping, schools, and restaurants.
8446 E Laurel Street
Mesa, AZ 85207
$1,035,000
4
Beds
3.5
Baths
2,690
SqFt
Status
Active
MLS #
6778364
Property Type
Single Family Residence
Price Type
--
PREPARE TO BE ENCHANTED by this STUNNING single-level HAVEN, perfectly positioned in the sought-after Mountain Bridge Community! From the moment you arrive, this home impresses w/its beautifully manicured landscape, a 3-car garage each with beautiful epoxy floors, paver driveway & gated courtyard. Large open floor plan boasts wood plank luxury vinyl flooring, surround sound, & wall to wall sliding glass doors, creating a seamless flow between indoor/outdoor spaces, excellent for entertaining. Chef's kitchen is a true centerpiece, fully equipped w/recessed & pendant lighting, a prep island w/a breakfast bar, abundant cabinetry adorned w/crown moulding, a pantry, Cambria counters, top-of-the-line SS appliances, a Wolf cooktop gas stove, a wall oven, and a dining area w/a lovely bay window. Romantic primary retreat offers 2 walk-in closets & a private ensuite bathroom with a separate garden tub! Don't miss the open den, ideal for work or play too. The wonderful BACKYARD OASIS promises endless fun in the sun, complete w/a covered patio, putting green, and a refreshing salt water pool with color light choices for nighttime enjoyment, a rock waterfall and slide, as well as a spill over spa to relax in! This gem is the one for you! Come take a look before its gone!
4400 S Oleander Drive
Chandler, AZ 85248
$1,035,000
3
Beds
2.5
Baths
2,820
SqFt
Status
Active
MLS #
6717940
Property Type
Single Family Residence
Price Type
--
Highly upgraded TW Lewis home with a gorgeous backyard! Tall ceilings, brand new landscape watering system, upgraded flooring, separate den/office/4th bedroom, large garage with built in cabinets, open layout with gorgeous kitchen that features a cooktop, granite counter tops, stainless-steel appliances, island with breakfast bar seating and a formal dining room. The home is well equipped for relaxing or having a little fun. The master suite has a large king sized bed, double sinks, upgraded walk-in shower, separate soaking tub & large walk-in closet. Very high neighborhood appeal with the gated community, next to Intel and Price Rd technology Corridor plus Arizona's top school district and A+ Schools like Hamilton High School, CTA & Basis within 5 miles! There's more... Over $25k in backyard remodel just completed! The backyard features a pebble tec pool, travertine decking, large covered patio, grassy play area & a BBQ. This home in the Ocotillo Lakes neighborhood is close to nine different courses including 27 holes at the Ocotillo Golf Club which is less than a mile away from the home. Spend your evenings at the Lone Butte Casino or the Wild Horse Pass Casino, both of which are nine miles northwest. For the kids, the Snedigar Recreation Center is 1/2 mile east, offering facilities for baseball, basketball, pickleball and much more. There is shopping, restaurants, movie theatres and grocery stores all less than a mile away!