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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37445 N 104th Place
Scottsdale, AZ 85262
$4,495,000
5
Beds
6
Baths
5,724
SqFt
Status
Active
MLS #
6654477
Property Type
Single Family Residence
Price Type
--
Brand new contemporary build inside the prestigious Mirabel Golf Community, construction projected to be completed 1st quarter of 2025. Extremely functional open floor plan w/ impeccable details throughout, including rich wood tones accented by luxurious marble details and fluted wood accents. The kitchen features 2 islands. The dining room conveniently bridges the space between kitchen and great room, allowing for an extended dining table. The floorplan brings the indoor/outdoor living to life w/ floor-to-ceiling folding doors that open to the extra-large covered patio, perfect for entertaining. The exquisite and unique design of the resort-like pool makes it feel as though the pool flows into the home. Walk up the modern floating staircase to take in the breathtaking views of the golf.. course, McDowell Mountains, and Brown's Butte from the 2nd floor entertainment/guest area. Easy walking distance to the beautiful Mirabel Clubhouse. There is still time to personalize some finishes in the home! The attached videos of the interior and exterior give you a look into the completed project. Finishes may be subject to change based on availability.
9673 E Oberlin Way Unit 15
Scottsdale, AZ 85262
$4,495,000
3
Beds
3.5
Baths
4,414
SqFt
Status
Active
MLS #
6708869
Property Type
Single Family Residence
Price Type
--
Access to golf membership * Timeless contemporary architecture with south-facing golf course and Pinnacle Peak views in Estancia * Access to a golf membership at The Estancia Club is available with the purchase of this property subject to board approval * Open great room living with soaring ceilings that include tongue and groove detail, a dry-stacked stone fireplace and integrated formal dining area that is perfect for entertaining * Exterior architectural details include a convex vaulted roof treated in copper, dry-stacked stone walls and floor-to-ceiling windows * Updated kitchen with stainless steel Wolf and Subzero appliances, carrara marble counter surfaces and a cozy dining nook * The oversized Primary Suite includes herringbone-design wood flooring and access to the spa * There are two guest suites and a large office/media room * The outdoor living area includes a gas fireplace, covered patio dining area and heated pool and spa with golf course and mountain views *
12934 E Corrine Drive
Scottsdale, AZ 85259
$4,495,000
4
Beds
4.5
Baths
4,359
SqFt
Status
Active
MLS #
6759314
Property Type
Single Family Residence
Price Type
--
The most remarkable home in Scottsdale Mountain with HUGE camelback and city views is now available. Fully rebuilt with a clean, Modern Organic pallet, this home makes you feel as though you are a part of the mountains. With no neighbors on 3 sides every room of this estate offers jaw dropping vistas. Step out back and you'll be blown away by the massive pool patio overlooking camelback mountain and the night lights. Inside, see extraordinary spaces and textures that capture the nature around you. Rift cut white oak cabinets and beautiful Quartzite, Moroccan plaster and unique tile patterns, White Oak Plank floors and floor to ceiling glass. Solid Oak doors and beautiful organic lighting. You must see this home in person to feel how it captures the romance of living on the mountain.
5625 E Exeter Boulevard
Phoenix, AZ 85018
$4,495,000
5
Beds
6
Baths
5,004
SqFt
Status
Active
MLS #
6750959
Property Type
Single Family Residence
Price Type
--
This quintessential Arcadia home is every family's dream. This sprawling ranch, located on the coveted Exeter Blvd in the heart of Arcadia, is as grand as it is charming. Enter through a custom Dutch entry door into a home filled with vintage wood flooring, beamed ceilings, and a chef's kitchen boasting custom cabinetry, Carrera marble countertops, high-end appliances, two dishwashers, a farmhouse sink, and a walk-in pantry with a second fridge. The versatile den is an ideal space for both kids and adults or can be transformed into a spacious mother-in-law suite. The Arcadia Proper cottage-style home offers a split floor planwith five bedrooms and six bathrooms. The primary suite includes a cozy fireplace, an oversized closet, a dual sink vanity, and a luxurious walk-in shower with a... ...clawfoot tub. A wall of glass sliders opens to the magnificent grounds, featuring stunning resort-style landscaping, a heated pebble tec pool and spa, and a covered patio. There's plenty of space fora sport court, bocce ball, pickleball, or even a soccer pitch, making this home perfect for hosting birthday parties, cocktail gatherings, weddings, and outdoor soirées. Additional features include a massive laundry room, an exposed red brick wine room, and an air-conditioned garage that fits nine cars. Truly a car enthusiast's dream. The prime location offers easy access to the best shops, restaurants, and amenities in both Arcadia and Old Town Scottsdale.
3905 Old Home Manor
Chino Valley, AZ 86323
$4,489,137
3
Beds
4
Baths
5,400
SqFt
Status
Active Under Contract
MLS #
6687063
Property Type
Single Family Residence
Price Type
--
Welcome to your pristine and private sanctuary, a sprawling contemporary estate spanning just over 60 acres in Chino Valley, nestled within the prestigious Running W Ranch. This extraordinary property encompasses a 5,400 square foot single-level main house with a 3-car attached garage, a 1,098 square foot guest house with a one-car garage and carport, a 2,800 square foot garage ideal for cars and a full-size RV, a storage shed, numerous patios, two water features, and an extensive trellised patio with a fire pit. Surrounded by breathtaking vistas, this estate is a masterpiece of luxury living, offering unparalleled amenities and finishes. Situated amidst cascading pinnacles, the property boasts panoramic views of the monumental Bradshaw and majestic Mingus Mountain ranges in the distance. Step into this luxurious haven and immerse yourself in the epitome of contemporary living. Don't be misled by the street name this is not an old home. Experience the tranquility and sophistication of this exceptional estate, where every detail has been meticulously designed to create a haven of unparalleled beauty and serenity. The main house: Upon entering, the grand foyer of this remarkable estate sets the tone for luxury living, boasting a lavish travertine inlay landing and an exquisite octagonal copper colored ceiling. Archways gracefully guide you through the home, leading to distinct areas. Straight ahead, the formal living room beckons with a welcoming propane fireplace, adorned with elegant crown molding, creating an ambiance of warmth and refinement. Adjacent to the living room, the formal dining room provides an intimate setting for gatherings and celebrations, setting the stage for memorable moments shared with loved ones. The heart of the home lies within the great room and kitchen, where a massive wood-burning fireplace and cross wood-beamed ceiling with intricate wood inlays serve as captivating focal points. Designed with entertaining in mind, the kitchen boasts a butcher block that was from a turn-of-the-century Chicago butcher shop and is attached to the granite counters, creating a stylish and functional island. Alder cabinetry with soft close doors and drawers, full extension glides, and dovetail construction elevate the space, while a breakfast bar peninsula and wraparound butler's pantry with wet bar add to the convenience and luxury. High-end appliances, including a Thermador fridge/freezer with faux-copper fronts, induction stovetop with pot filler, and double ovens, ensure culinary excellence. The flooring throughout the entire home is all hickory hardwood flooring. All the doors, shelves, and window sills throughout the main house and casita were hand made from Alder wood as well. The master bedroom wing offers a private retreat, featuring a study/den/library with built-ins and direct access to the back patio. The luxurious ensuite bathroom boasts a garden clawfoot tub, walk-in shower, and crown molding, accompanied by a large walk-in designer closet for utmost comfort and convenience. Two additional bedrooms in the opposite wing share a Jack and Jill bathroom, each with individual granite vanities and walk-in closets. The shared oversized jetted tub and tumbled stone walk-in shower with double shower heads add to the lavish space. Additional highlights of this exceptional estate include an office with extensive built-in bookcases and a hidden room, a garden room with tile floors and triple latch set doors, and a large laundry room with a farmhouse sink and a convenient kitty cut-out. The home also features radiant floor heating, a fire suppression system, engineered hardwood floors throughout with carpet in two of the bedrooms, and a three-car attached garage. The property continues to impress, showcasing impeccable finishes and custom woodworking, a massive interior paver driveway, and a circular asphalt driveway enveloping the property. Additional features such as a whole house generator, tile roof, and exterior stone detailing further enhance the allure of this magnificent residence. The guest house: The guest house, seamlessly connected to the main residence via a breezeway, serves as a luxurious extension of the estate. Step inside where every detail has been thoughtfully designed to enhance your stay. A cozy foyer entry sets the stage for your retreat, while recessed lit art skylights further illuminate the space with a touch of elegance. The full kitchen is a culinary delight, featuring alder cabinetry, a smooth top electric range oven, and expansive windows that frame breathtaking views of the surrounding landscape. The kitchen exudes warmth and sophistication, with soft-close doors and drawers, full extension glides, and dovetail construction adding to its allure. Adjacent to the kitchen, the great room welcomes you with its wood casement windows and an abundance of natural light, creating an inviting atmosphere for relaxation and entertainment. The spacious bedroom offers a serene escape, complete with a ceiling fan and a massive walk-in closet adorned with custom built-ins, providing ample storage space for your belongings. The spa-like attached bath boasts a raised granite vanity, a separate garden tub, and a walk-in shower, offering the ultimate in luxury and comfort. The resort-style patio area beckons, providing the perfect setting for al fresco dining or simply unwinding amidst the tranquility of the surroundings. The guest house also features a one-car attached garage, along with two storage rooms for added convenience and versatility. The detached garage/workshop: Nestled on the property is a remarkable 2,800 sf detached shop, thoughtfully designed to accommodate various needs and preferences. With 3 roll-up doors including one 14 x 12 foot door, this shop is perfectly suited for storing cars and accessing a full size RV spanning an impressive 50 feet deep. Boasting a durable metal roof and a sleek smooth finish sand stucco exterior the shop is insulated to maintain optimal temperature control. Natural light floods the interior through strategically placed skylights, illuminating the space and reducing the need for artificial lighting during the day. Wraparound shelving offers ample storage solutions, allowing for efficient organization of tools, equipment, and supplies. The shop is fortified with sturdy steel beams, ensuring structural integrity and stability. Whether you're seeking a space for woodworking, automotive repairs, or simply storage, this detached shop offers the perfect combination of functionality and versatility. Outdoor living: Step into the backyard oasis and discover a setting of unparalleled beauty and serenity. With breathtaking long-distance views as your backdrop, this outdoor sanctuary offers a multitude of features designed to elevate your outdoor living experience. Meandering paver pathways guide you through the landscape, inviting leisurely strolls and tranquil moments of contemplation. Nearby, the water feature gently cascades, leading to a picturesque koi pond, where the mesmerizing sight and sound of flowing water create a soothing ambiance. A trellised resort-style patio sets the stage for memorable gatherings and alfresco entertaining, with built-in benches and fire pit, offering ample space for socializing and celebrating under the open sky. From intimate dinners to lively celebrations, this versatile outdoor area is designed to accommodate a variety of occasions with style and sophistication. The backyard also features a sprawling grassy area, perfect for outdoor activities and recreational pursuits. From the massive paver patio to the tranquil koi pond, every element of this backyard oasis has been thoughtfully crafted to create a serene and inviting environment. Other features: In addition to the impressive amenities already mentioned, this property boasts an 18 x 15 foot building, offering convenient storage solutions. Constructed with durable synthetic stucco and equipped with gutters, this storage shed is designed whether you need space for gardening tools, outdoor equipment, or seasonal decorations, this versatile structure provides ample room for storage and organization. On the southwest side of the property, a convenient RV pad awaits, equipped with full hookups to accommodate your RV guests with ease. With 50 AMP power, water connections, and a cleanout station readily available, hosting visitors in their RVs becomes a seamless and comfortable experience. There's an extra 50 AMP power supply available near the main house garages. It's the perfect spot to charge up your RV as you prepare for your next adventure. Experience the pinnacle of luxury living in this meticulously crafted estate, where every detail has been thoughtfully designed to exceed expectations and provide unparalleled comfort and elegance.
20664 E Ivy Lane
Queen Creek, AZ 85142
$4,475,000
5
Beds
5.5
Baths
7,283
SqFt
Status
Active
MLS #
6741540
Property Type
Single Family Residence
Price Type
--
Nestled in one of the valley's most exclusive and unique neighborhoods, welcome to The Pecans—a private, gated community adorned with hundreds of mature pecan trees. This serene enclave perfectly blends a small-town feel with the modern conveniences of Queen Creek. Introducing a masterpiece of modern luxury, this nearly 7,300-square-foot residence is designed by the renowned The Lifestyled Co. Crafted by Modern Splendor Homes, this extraordinary property was honored with the prestigious ''Best Custom Home'' award (2023) by the Home Builders Association and has been featured in numerous well-known magazines. Situated on over an acre, one of the largest lots in The Pecans, this home offers an expansive backyard with a heated saltwater pool, spa and a pool bath with dual sinks. and a crash pad with a window that opens to the backyard, complete with swings. It's the perfect place to relax and enjoy a drink while watching the game. The interior is designed with an earthy, vacation-inspired vibe, accented by edgy, unique touches. The dream garage offers space for an RV or boat, and the butler pantry/dirty kitchen with a separate door to the garage provides easy access for event vendors. Inside, the home features two elegant staircases, one of which includes a cozy reading nook. The playroom is equipped with bunk beds, ideal for cousin and friend sleepovers. The kitchen is a culinary delight, featuring a built in steam oven and a cabinet/ladder area that exudes a farmer's market ambiance for fresh produce. The incredible floor plan includes a downstairs master retreat complete with an attached sitting room and fireplace, with the primary bath offering two walk-in closets. The main level also features a large bedroom with an attached bathroom, a beautiful office, and a spacious bonus room. Upstairs, you'll find large bedrooms, each with its own custom bath, a large loft, and a bunk bed area perfect for cousin or friend sleepovers. Every inch of this home is meticulously detailed and perfect. This home offers the ideal blend of luxury and functionality, with the option to purchase it fully furnished. With .35 of an acre left to build on, it's an ideal space for a casita or sports court. Enjoy the privacy of no neighbors in front of you and a clear pathway that ensures uninterrupted views.
33371 N Vanishing Trail
Scottsdale, AZ 85266
$4,450,000
5
Beds
4.5
Baths
4,739
SqFt
Status
Active Under Contract
MLS #
6749089
Property Type
Single Family Residence
Price Type
--
Introducing an exceptional 2023 Platinum Homes custom built property, set within prestigious, guard-gated Whisper Rock Estates community. This sophisticated and luxurious contemporary residence embodies the pinnacle of elegance and offers an unparalleled lifestyle for the discerning buyer. With meticulously curated premium finishes throughout, this home is a true masterpiece redefining the standards of stunning design. The residence features a versatile 5-car garage thoughtfully designed to double as a gym. It also boasts advanced solar technology, ensuring both energy efficiency and sustainability. The seamless indoor/outdoor living spaces capture the essence of sublime desert living, creating an idyllic environment for relaxation and entertainment. This is more than just a home, it's a statement of luxury and distinction.
10287 E Diamond Rim Drive
Scottsdale, AZ 85255
$4,450,000
4
Beds
4.5
Baths
4,767
SqFt
Status
Active
MLS #
6698382
Property Type
Single Family Residence
Price Type
--
Nestled in the desirable Horseshoe Canyon neighborhood of prestigious Silverleaf, this beautifully remodeled Ranch Hacienda-style home offers both incredible curb appeal and a prime location. Situated near the 2nd fairway and just blocks from the Silverleaf Clubhouse, this residence enjoys a serene setting, fronting a natural preserve and within easy reach of several community parks. The open floor plan includes a spacious great room with pocket doors that lead to a charming courtyard, complete with a covered patios, pool, ramada, and BBQ center, creating an ideal space for indoor-outdoor living. The kitchen has been completely remodeled with high-end appliances, featuring a Sub-Zero fridge, Wolf ovens, a Viking range, sleek new Quartzite countertops, and updated iron light fixtures tie it all together. The private Master retreat offers a bonus room and a balcony that showcases breathtaking views of the McDowell Mountains and city lights. The primary bath has been completed transformed, highlighted by the marble flooring and wall detailing. In addition to the primary suite, there are three guest suites, strategically split for added privacy. All bathrooms have been remodeled, providing a fresh and modern touch throughout the home. Office/media room is conveniently located on the main floor, close to the kitchen, offering a great retreat from the living areas. This updated home in Silverleaf's Horseshoe Canyon truly combines luxury, comfort, and a superb location. Silverleaf features guard gated privacy and timeless architecture in a stunning mountain setting. The community features world-class golf, spa and clubhouse facilities while conveniently located just minutes from hiking, shopping, dining and the Loop 101.
94 Biltmore Estate
Phoenix, AZ 85016
$4,443,330
8
Beds
7.5
Baths
8,933
SqFt
Status
Active
MLS #
6714218
Property Type
Single Family Residence
Price Type
--
Iconic, Timeless- Original Biltmore Estate. A true testament to opulence and the American spirit of the early 20th century, The Biltmore Estate is an emblem of luxury, history & architectural brilliance. Located in the sought-after Biltmore Circle & set amidst stately mansions, a RARE opportunity to own a piece of this Arizona history is now available! Whether undertaking a full restoration, or creating your vision of a modern-day luxury masterpiece, the possibilities are endless. This original & classic Spanish Hacienda Biltmore Estate, circa 1933, was built and owned by the BILTMORE HOTEL LLC. The estate's location is nearly unbeatable. Positioned on one of the most desirable view lots within the Biltmore Circle, the estate offers a serene & inspiring setting, providing expansive (more) grounds of verdure, meandering water gardens, breathtaking views of Camelback Mountain, Praying Monk, rare lake views & an IMPRESSIVE 177 ft+/- of GOLF FRONTAGE on the Links Golf Course. With the benefit of NO HOA & two separate residences on the lot, the home's current offering provides the ideal multi-generational living or vacation rental possibilities. Included is a 6,219 sf main estate, an attached 900+/- sf 1BR/1BA guest townhome w/ kitchen & great room, a small casita w/ 1BA & kitchenette, and a detached second home, designed & built by internationally acclaimed architect, Jeffrey Page of Space Line Design. The 2,500+/- sf modern architectural gem was featured on HGTV: UNIQUE DESERT HOMES, PHOENIX HOME & GARDEN magazine, as well as numerous other publications in the US, UK, Turkey & the UAE. The villa offers a large great room w/ soaring ceilings, walls of glass, & 2 BR/3 BA plus an office. Completing the estate is a 6 car-garage (one is an RV height), providing plenty of room for your classic cars or 'toys'. SELLER FINANCING COULD BE CONSIDERED. Embrace your vision with this truly one-of-a-kind opportunity! See also land/lot listing MLS #6715940
17444 N 79th Street
Scottsdale, AZ 85255
$4,400,000
3
Beds
3
Baths
2,891
SqFt
Status
Active
MLS #
6753761
Property Type
Single Family Residence
Price Type
--
NEWLY BUILT STATE-OF-ART LUXURY HOME located on the very FIRST HOLE of the TPC SCOTTSDALE STADIUM COURSE home of the WM Phoenix Open with an unobstructed line of sight to the 'Greatest Show on Grass'. ONE-OF-A-KIND Alcazar at Scottsdale Princess masterpiece newly constructed from the foundation up with no expense spared. This nearly 3,000 sq ft exquisite property features 3 nicely sized bedrooms, 3 full baths (inclusive of en-suite style guest room), open concept floor plan with 12' ceilings, state-of the-art technology, climate-controlled garage, this gated private enclave of just 38 custom homes is sure to satisfy the most discerning of tastes and is an epitome of perfection NOT TO BE MISSED.
6521 E Paradise Drive
Scottsdale, AZ 85254
$4,400,000
6
Beds
7.5
Baths
6,217
SqFt
Status
Active
MLS #
6768401
Property Type
Single Family Residence
Price Type
--
Stunning NEW Desert Modern Masterpiece by Thomas James Homes! This pre-construction residence offers a unique opportunity to customize some interior finishes during the early construction phases. Discover the epitome of luxury living in one of Scottsdale's most desirable neighborhoods. Situated on over an acre of pristine land, this expansive single-level home offers 6 bedrooms, 7.5 bathrooms, and an array of exceptional features that combine modern elegance with practical living. The thoughtfully designed interior showcases wide plank wood flooring, custom lighting, and a floor-to-ceiling fireplace that serves as a dramatic centerpiece. The gourmet kitchen boasts high-end finishes like a pot filler, warming drawer, double dishwashers, and more. An attached pool house adds to the resort-like ambiance, and the 4-car garage ensures ample space for vehicles and storage. Step outside to fully landscaped front and back yards, complete with a luxurious pool and spa perfect for Arizona's outdoor lifestyle. The home is just minutes from fine dining, shopping, and entertainment, offering both convenience and exclusivity. With the opportunity to customize certain interior finishes, this is your chance to make your dream home a reality. Estimated completion: Late 2025.
2001 N 1st Avenue
Phoenix, AZ 85003
$4,400,000
3
Beds
5
Baths
10,560
SqFt
Status
Active
MLS #
6602810
Property Type
Townhouse
Price Type
--
Entertainer's DREAM! This one of a kind CUSTOM built brownstone residence is located in the PRESTIGIOUS gated community of Chateau on Central! STUNNING panoramic city & mountain views! IMPECCABLE craftsmanship that took 4+ years and over $7.2M to build! GORGEOUS designer interior & exterior finishes throughout this MASTERPIECE! Multiple kitchens, living areas, dining areas, a HUGE game room, theatre room, elevator, rotunda, patios + SO MUCH MORE! INCREDIBLE sunsets abound! Over 10,000 sq ft on 5 levels including a 4 car garage! This truly CAPTIVATING home is unlike any other! The central corridor LOCATION can't be beat! 1 block to light rail. Adjacent to Willow district. Walk to Phoenix Art Museum, Phoenix Theater, Heard Museum, Playhouse in the Park, Arizona Opera, Phoenix Library and the ultra-hip Roosevelt Row! The BEST shopping and restaurants that Phoenix has to offer! Easy access to freeways, airport, and sporting venues! WELCOME HOME!