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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7025 E Belleview Street Scottsdale, AZ 85257

$899,000

3 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6773474

Property Type Single Family Residence

Price Type --

Discover your dream oasis in this fully renovated modern estate, offering an open floor plan, premium finishes, and luxury amenities. Extensive upgrades include a new roof, AC system, electrical panel, and more—all permitted and inspected. Enjoy sleek new doors, windows, and fixtures throughout. The resort-style backyard features a 12x28 pool with smart controls, a 7-seat Jacuzzi, and low-maintenance Tiger Turf landscaping. This turnkey, fully furnished short-term rental boasts 5-star reviews and professional management available. Don't miss this incredible investment opportunity! Enhanced Security: Benefit from modern privacy and security gates with smart locks, providing peace of mind. Energy Efficiency: High-efficiency appliances contribute to reduced energy consumption and lower utility bills. This home is move-in ready, with investment in furniture and décor. Benefit from the expertise of professional property management whose white-glove concierge service handles everything from guest interactions to property maintenance, allowing you to enjoy passive income.

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12623 S 179th Drive Goodyear, AZ 85338

$899,000

5 Beds

4 Baths

4,800 SqFt

Status Active

MLS # 6774672

Property Type Single Family Residence

Price Type --

TW Lewis Basement Home backed up to Golf Course located in Estrella Mountain Ranch. Inviting Courtyard to 5 Bedroom, 4 Bath well cared for Home, Great Room with Stone Accents and Fireplace adjacent to Large kitchen with Granite Bar, Counters and Island. Spacious Primary Suite with Walk in Shower, Large Soaking Tub, Separate Walk in Closets and Private Door to Patio and Pool. Main level also has 2 more Bedrooms, Baths and Office space. Huge Basement complete with Entertainment area, 2 Bedrooms, Full Bath and finished storage room. Backyard boasts Covered Patio, Diving Pool with Waterfall and resurfaced deck. Home equipped with assumable leased Solar. Most furniture available for sale separately.

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11 E Venado Drive New River, AZ 85087

$899,000

4 Beds

3 Baths

3,298 SqFt

Status Active

MLS # 6775572

Property Type Single Family Residence

Price Type --

Welcome home to breathtaking mountain/sunset views on this private property w/ top of the line updates in all the right places. 4 bd, 3 ba + flex room. All new kitchen remodel w/ sleek concrete countertops, high end appliances, mid-century modern slow-close cabinetry & w/i pantry. Modern light fixtures w/ so much natural light add to the elegance. Expansive extra high ceilings in living room & Q-motion electric shades for convenience. Energy efficient w/ HVAC 2023 & Ext paint '23 low VOC. ** Parcels are currently being split, total acres on this Parcel C is 1.563 acres, 49,770 square feet. Lot dimensions are 172 X 128 X 628 X 315. Parcel can be purchased separately or with 2 other parcels. Remaining parcels are Parcel A, 2.058 acres & parcel B, 1.143 acres. Please see docs.

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5801 E Saguaro Road Cave Creek, AZ 85331

$899,000

3 Beds

2 Baths

2,034 SqFt

Status Active

MLS # 6777212

Property Type Single Family Residence

Price Type --

Single family slump block home on an incredible 3 acre lot in the Loringwood Estates in the heart of Cave Creek! Surrounded all around by mountain views this quiet lot currently has a slump block home with a private pool. The home features 3 bedrooms, 2 bathrooms, plus 2 more bonus rooms, fireplace and a long covered patio. Plenty of room on this lot to build your dream home and use the existing structure as a casita, money making AirBnb or for your horse needs. There is also a private well, septic system and just a short ride to the center of Cave Creek!

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32025 W Marsh Road Casa Grande, AZ 85193

$899,000

3 Beds

2 Baths

2,340 SqFt

Status Active

MLS # 6781963

Property Type Single Family Residence

Price Type --

Professional Pictures Coming soon! Welcome to your own slice of paradise! This expansive 30-acre ranch in Casa Grande, AZ, offers endless opportunities for a life of tranquility and adventure. Nestled amid scenic desert landscapes, the property includes a charming 3-bedroom, 2-bathroom house with spacious living areas, a cozy fireplace, and large windows that bring the beauty of the outdoors inside. Perfect for horse lovers, outdoor enthusiasts, or anyone seeking privacy, this ranch has ample room for livestock, farming, or potential development. Imagine the possibilities on this sprawling land, complete with mountain views and stunning Arizona sunsets. Don't miss out on this rare opportunity to own a true desert retreat with room to grow and dream! Note sale is to include 3 Parcels!

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7601 E Indian Bend Road Unit 1046 Scottsdale, AZ 85250

$899,000

2 Beds

2 Baths

1,625 SqFt

Status Active

MLS # 6781875

Property Type Townhouse

Price Type --

With only 198 ultra-exclusive homes in Corriente, these 48 Perla models are the most coveted. Occasionally, one of the 18 exclusive waterfront views change hands. Although, only 6 are at ground-level, each becoming more desirable as you move inward. Only one offers the perfect combination of total privacy, unrivaled beauty, and absolute serenity. Welcome to the quintessential, Sonoran Desert hideout. Exquisite tile work, updated kitchen, fresh paint, high end appliances, energy efficient lighting, a cozy fireplace and views from every room that takes your breath away. Less than 10 minutes from TPC, Barrett-Jackson, Spring Training, world-class meals, dining and shopping! Or relax in pristine pools, friendly clubhouse and onsite gym - BTW, HOA dues include high speed internet and dish TV

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30120 N 70th Street Scottsdale, AZ 85266

New

$899,000

3 Beds

2 Baths

1,545 SqFt

Status Active

MLS # 6782755

Property Type Single Family Residence

Price Type --

2.5 Acres of Pure Serenity. Glass house, windows everywhere to show the gorgeous sunsets. No HOA. Beautiful private area in desired North Scottsdale. End of cul de sac. Brand new, older house. Fully Remodeled. New Septic (in process). No stone unturned to make this house a turn key solution for someone. New shingled roof, Interior and exterior paint, new windows and doors, new septic (in process), new kitchen and appliances, New LVP flooring throughout, newly upgraded bathrooms. Very popular option for horse lovers. Boundary markers just set via professional survey crew. If you want a house that has been fully renovated with little maintenance for years to come, here's your opportunity.

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4847 E Juana Court Cave Creek, AZ 85331

$899,000

4 Beds

2 Baths

2,444 SqFt

Status Active Under Contract

MLS # 6754569

Property Type Single Family Residence

Price Type --

Remodeled to perfection with no expense spared ! This pristine 4 bedroom ,single-level ,TW Lewis home with super private yard backs to desert open space . Over $125,000 spent including Trane 20 seer high-efficiency AC units, new roof in 2022, gorgeous primary bath with soaking tub and remodeled guest bath. The kitchen is updated with quartz counters, Bosch double-oven, ASKO top of the range dishwasher, new whole house water conditioning system, plantation shutters, crown moldings, updated landscaping , new BBQ, flooring , paint and the list goes on. Gas cooktop and Fireplace. Great room floor plan ( see doc tab) with formal dining and breakfast room . 3 car garage and very walkable to coffee and restaurants nearby. The home is stunning - just move right in.

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18008 N 52nd Place Scottsdale, AZ 85254

$899,000

4 Beds

2 Baths

2,426 SqFt

Status Active Under Contract

MLS # 6767721

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated 4-bedroom, 2-bathroom home spanning 2,426 square feet, located in the highly sought-after 'Magic zip code' of 85254. This home offers a Scottsdale address with the added perks of lower Phoenix taxes and utilities. The updated kitchen features bright white cabinetry, granite countertops, a gas cooktop, and a stunning travertine backsplash. The home has tile flooring throughout and a desirable split floor plan. The spacious primary suite includes a soaking tub, a walk-in shower, and ample closet space. Vaulted ceilings and skylights flood the home with natural light, enhancing the open feel of the formal dining and sitting areas. Step outside to your serene backyard oasis with a custom pergola, perfect for enjoying Arizona sunsets or morning coffee. The lush exterior is home to a variety of fruit trees, including guava, lemon, pomegranate, and tangerine, as well as vegetable plants. A soothing water feature adds to the tranquility of this space. The 3-car garage provides plenty of storage, and solar panels help reduce your electric bills. Security doors allow for a refreshing breeze during the cooler months. Located just 10 minutes from Desert Ridge Marketplace, you'll have easy access to a variety of popular shopping and dining options. Enjoy upscale dining at places like The Keg Steakhouse, Yard House, and Barrio Queen, or grab casual bites at In-N-Out Burger and Chipotle. The shopping experience includes major retailers like Target, Kohl's, and Ulta, as well as unique boutiques. With entertainment options like Dave & Buster's and AMC Theatres, this home offers both tranquility and convenience. Don't miss your chance to own in 85254, truly a gem!

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15641 E Sycamore Drive Fountain Hills, AZ 85268

$899,000

4 Beds

3.5 Baths

3,552 SqFt

Status Active Under Contract

MLS # 6760447

Property Type Single Family Residence

Price Type --

Enjoy mountain views from this spectacular property with a portico in Fountain Hills! Beautiful updates are throughout this unique home. An abundance of windows and vaulted ceilings opens this home to light and air. Gather in the lovely kitchen boasting stainless and custom appliances, display cabinetry, center island with vegetable sink, pot filler at large range, extended backsplash and built-in wine cooler! There is banquette seating ready for a table to enjoy your morning coffee. The Generous primary suite affords a private sanctuary with ensuite bath and wash views. A vaulted living room is outfitted with a wet bar and focal fireplace to enjoy the views. 3 other bedrooms assures there is plenty of room for work, play and rest for everyone. Additional spaces provide an area for... storage or to create a custom space for yourself. Centrally located, this home benefits from a short commute to schools, shopping, parks and the famous fountain! See all the possibilities this property brings!

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1532 W Loma Lane Phoenix, AZ 85021

$899,000

3 Beds

2 Baths

2,429 SqFt

Status Active

MLS # 6744527

Property Type Single Family Residence

Price Type --

Beautiful classic ranch style home with detached casita. The main house includes 2429 square feet with 3 spacious bedrooms and 2 baths. The casita totals 555 square feet with attached storage room. Beautifully remodeled throughout. The kitchen features custom cabinets, stainless appliances with double ovens and a gas stove top. The breakfast area boasts a built-in buffet and desk area and tons of storage. This home is perfect for entertaining inside and out. Cozy family room offers a wood burning stove. French doors lead to the bright Arizona room. Additional features include Plantation shutters and ceiling fans throughout, recessed lighting, remodeled bathrooms, and tile flooring. Enjoy the large backyard offering lush green landscape, sparkling diving pool, shade trees, and so much more

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14841 N 73rd Avenue Peoria, AZ 85381

$899,000

4 Beds

2.5 Baths

2,965 SqFt

Status Active Under Contract

MLS # 6763776

Property Type Single Family Residence

Price Type --

This spectacular custom home in the desirable Paradise West Estates, with no HOA, sits on just under half an acre with a large RV gate. The functional floor plan includes 4 bedrooms, 2.5 bathrooms, a spacious living room, a formal dining room, and a great room featuring a cozy stone gas fireplace. The bedrooms have new carpet, while slate tile flooring runs throughout the home. A remodeled guest bathroom is beautifully finished with quartz countertops and designer tile. The Owner's Suite is a true retreat, featuring a separate walk-in shower, soaking tub, walk-in closet, and a private exit to the patio. The home also boasts 2x6 wood construction, and upgraded insulation for enhanced energy efficiency. The outdoor space is truly a standout, featuring a firepit and an oversized pool with a rock water feature and large Baja step. The covered patio has an outdoor kitchen with a built-in gas BBQ, making it great for entertaining. A covered Ramada and outdoor shower add convenience and comfort, which is beautifully landscaped with grass and mature trees. Located just minutes from shopping, dining, entertainment, freeways, and top-rated schools, this is truly a place you'll want to make your own.

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