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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14740 N Holt Brothers Lane
Prescott, AZ 86305
$889,000
3
Beds
2
Baths
1,902
SqFt
Status
Active
MLS #
6781129
Property Type
Single Family Residence
Price Type
--
Welcome to this spacious A-Plan Ranch Cottage, ideally situated on the 2nd fairway with stunning panoramic views of the golf course, Williamson Valley, and the Santa Maria Mountain Range. Enjoy breathtaking sunsets from the wrap-around front porch or large covered patio equipped with electronic shade screens. Inside, discover high-end finishes such as solid alder doors, tile flooring, bronze fixtures, a large kitchen island with granite counters, and stainless appliances. The master suite offers golf course views, a custom bath with dual vanities, a walk-in shower, and a generous walk-in closet. Talking Rock is a 24-hour staffed gated private community for members only. Amenities include our award-winning Jay Morrish designed Golf Course, Fitness Barn, Ranch House Restaurant and Bar, Coop's Coffee House, Racquet Sports Courts, Dog Park, Community Garden, and over 14 miles of hiking and biking trails.
3553 E Tina Drive
Phoenix, AZ 85050
$889,000
3
Beds
2.5
Baths
2,178
SqFt
Status
Active
MLS #
6783225
Property Type
Single Family Residence
Price Type
--
Absolutely stunning and ''almost brand new'' home located in the highly coveted and sought after Sky Crossing neighborhood. Every possible update was chosen when the home was built in 2020 and the home has been meticulously maintained inside and out. Upstairs you have 3 bedrooms and a large den. Downstairs has a gorgeous kitchen that is steps away from the oversized living room which boasts 9' ceilings. A large patio and low maintenance landscaping backyard is accompanied by turf and a top of the line pool w/water feature. Community features include a heated pool and spa, fitness center, playgrounds, clubhouse, and an elementary school. Convenient shopping and dining are just minutes away at Desert Ridge Marketplace and City North. Visit us today and experience it for yourself!
3742 E Diamond Court
Gilbert, AZ 85297
$889,000
5
Beds
4
Baths
4,015
SqFt
Status
Active Under Contract
MLS #
6746623
Property Type
Single Family Residence
Price Type
--
Storybook living awaits in South Gilbert's Popular Community of Coronado Ranch! This rare opportunity has it all! The location, neighborhood, ''A'' rated schools, & hot new developments/amenities. Enhanced Ranch-Style inspired Beazer Home is move-in ready & features new Kitchen Renovation, designer interior with upgraded finishes, modern floor plan w/open great room concept, Multigenerational Suite, stunning gourmet kitchen layout w/ kitchen island/breakfast bar, & Newly Renovated Private Backyard Oasis for all the summers days & nights you've earned to relax & entertain! Come Look Around. Ask Questions. See Yourself Living Here. Fall in Love & Make an Offer! This is the ONE! Entertain & Soak up the sun in your very own Resort Style Pool & Backyard. Offering a vibrant PebbleTec Swimming Pool w/Grotto, Slide & Multi-Colored Underwater Illumination. Beautifully designed green backyard landscape includes New Synthetic Grassy Areas w/ Putting & Chipping Green, Enhanced Landscape Lighting w/ Travertine Border, Built-In BBQ w/ Granite Bar Top & New Grill. Premium Interior Cul de Sac Home site at 10,903 SF w/ ideal north/south exposure & open-air views! Coronado Ranch has been the majestic destination community known for its picturesque scenery and neighborhood charm. It's warm and inviting, full of friendly neighbors, engaging lifestyle and exceptional educational opportunities. Featuring several parks, playgrounds, basketball and soccer fields. Located within South Gilbert, residents take advantage of the countless nearby amenities including the 101 & San Tan 202 freeways, shopping, dining, entertainment, airports, hospitals, booming business corridors, hot new Southeast Valley Developments and The Highly Prized Public, Charter & Private Schools near by. Send your kids to school with confidence!
14025 N 11th Place
Phoenix, AZ 85022
$889,000
4
Beds
3
Baths
2,329
SqFt
Status
Active
MLS #
6679677
Property Type
Single Family Residence
Price Type
--
Million Dollar Gorgeous Contemporary Modern Property For Under $900K. Lender 1% Rate Buy Down Available. See Docs Tap. Indulge in mountain-framed serenity at this stunning property boasting a modern 2,351 sqft open floor plan. With 4 bedrooms, including 2 custom master suites, and 3 baths with custom tiling, luxury awaits at every turn. Oversized garage, RV gate, and unique stained concrete flooring that add practical elegance. The custom kitchen with quartz countertops and ss appliances beckons culinary adventures. Enjoy seamless indoor/outdoor living via the 4-panel patio slider leading to the covered patio and spacious backyard on a .30 acre lot, perfect for entertaining and future poolside gatherings. Experience unparalleled beauty amidst neighboring new builds, making this the epitome of modern mountain living. Wonderful school system and elementary across the street. All buyers Dolphin Pools offering cost plus with, buyer. The discount would be in the 8-10% . Temporary 1-0 buydown offered by preferred lender for qualified buyers. Scholars Academy is the local charter school that is well sought after and minutes away from the property. Only 15 minutes away from the newly reimagined PV Mall features an expansive central park and community gathering place situated amongst a mecca of dining, entertainment, and retail experiences. Phase one will be host to a 400-unit multi-family luxury development, AVE Paradise Valley, Whole Foods Market, and best-in-class restaurants and retail. Also close to central Phoenix and north Scottsdale to continue your entertainment, dinning, and shopping exerperience for you and the whole family.
1163 E Knight Lane
Tempe, AZ 85284
$889,000
4
Beds
3
Baths
3,200
SqFt
Status
Active
MLS #
6755537
Property Type
Single Family Residence
Price Type
--
Don't miss a rare opportunity to live in this highly sought-after south Tempe neighborhood! This beautiful custom home is nestled in the heart of south Tempe and has all of the charm that is characteristic of the area, complete with 4 spacious bedrooms and a convenient split master bedroom layout. Both master bedrooms have en suite bathrooms and the 4th bedroom is large enough to be a third master bedroom as well. You will enjoy relaxing in your backyard oasis, which boasts a large covered patio, sparkling pool, built-in fireplace, mister system and synthetic turf. The side yard has room for your RV and even has a dedicated RV electrical outlet. Other features include: no HOA, central vacuum, new hot water heater, walk-in pantry, no neighbor in back, fireplace in master and living room, and so much more!
12670 W Bajada Road
Peoria, AZ 85383
$889,000
2
Beds
2.5
Baths
2,610
SqFt
Status
Active
MLS #
6739574
Property Type
Single Family Residence
Price Type
--
$20,000 DECORATING ALLOWANCE AT COE! HIGHLY SOUGHT AFTER LOCATION on fairway of the signature #14 hole with expansive views. Spacious backyard features HEATED POOL & SPA, kool decking, large faux grass area & view fencing. Premium features include 2 NEW 2021 TRANE HVAC UNITS, leased SOLAR, 12-FT CEILINGS, & NO CARPETING--large tile & wood flooring. Chef's kitchen w/GRANITE SLAB on countertops & front island, QUARTZ-2021-on center island, staggered cabinets w/abundant storage, built-in s/s appliances w/GAS cooktop, 2 sinks. Adjacent to the kitchen are the great room w/gas fireplace & views of backyard & golf course & a private courtyard with PERGOLA ideal for breakfast or morning coffee. HUGE PRIMARY SUITE with access to back patio has BAY WINDOW/ w/views, bath w/dual sinks, shower & soaki soaking tub, 2 WALK-IN CLOSETS & FLEX RM. Use the versatile flex room for a private office, exercise room, craft or art room, TV watching or combination of uses. The ENSUITE guest bedroom is split from the primary suite. A den, half bath, casual or formal dining room & laundry room are also found in this 2610 SF Tuscan 'Aurora'. The two-car garage with WHOLE HOUSE WATER FILTRATION SYSTEM & 2022 gas hot water heater has additional area for a golf cart & storage. 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 neighborhood. The Mita Club has additional community amenities including a huge resort outdoor pool. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Paloma Park (Peoria's newest park) & Lake Pleasant.
12625 N 66th Drive
Glendale, AZ 85304
$889,000
5
Beds
3
Baths
2,837
SqFt
Status
Active Under Contract
MLS #
6696372
Property Type
Single Family Residence
Price Type
--
Discover this stunning 5-bedroom, 3-bathroom home, nestled on an expansive, irrigated lot in the desirable Longhorn Ranch - with NO HOA! Perfectly designed for family comfort and multi-generational living, this residence boasts a thoughtfully designed split floor plan, providing both privacy and space for entertaining or everyday living. The heart of the home features modernized upgrades, including removal of popcorn ceilings, carpet, paint, lighting and ceiling fans throughout, turn-key ready! Step outside into the private backyard oasis, covered patio that extends the entire length of the home, sparkling diving pool with removable fence for your convenience. This space is ideal for large outdoor gatherings and family functions, with ample room for guest accommodation, providing a seamless flow between indoor and outdoor living. Large lot offers endless possibilities, including expansive parking options with convenient RV Gate and RV Parking ready to accommodate all your vehicles, toys and guests with ease. This home truly blends style and functionality, ready to meet the needs of any family or visiting guests.
1416 E Sapium Way
Phoenix, AZ 85048
$888,888
5
Beds
3
Baths
2,624
SqFt
Status
Active
MLS #
6780258
Property Type
Single Family Residence
Price Type
--
This Amazing Ahwatukee Foothills home has been lovingly renovated and is ready for you! Hard to find with 2 bedrooms 1 Bath down AND 2 bedrooms 1 bath upstairs, plus a sumptuous Owners Retreat! All new plumbing throughout! Fresh carpet & paint. Roof was redone when the (owned not leased) Solar System was installed. AC Units replaced. On the best lot with incredible Mountain views and tranquil diving pool with a loveseat! Top ranked schools, convenient to shopping & 202 Freeway. This Del Webb gem is an opportunity for you to move into a turnkey resort style lifestyle NOW! Invest some of your valuable time and see this one first! You will not be disappointed! At nightfall watch the mountain change colors and then... Holiday lights on the mountain emerge! Enjoy!
115 E Santa Cruz Drive
Phoenix, AZ 85085
$888,230
4
Beds
3
Baths
2,997
SqFt
Status
Active
MLS #
6745245
Property Type
Single Family Residence
Price Type
--
NEW SPEC HOME Located on ACRE Lot, NO HOA, 4 Bedroom, Great Room Concept**Room for RV Parking and/or Future RV Garage**4 Car Garage w MyQ openers, pre-plumbed for Soft Water, Utility Tub & Garage Service Door**Front Parking has 20' Pad**Ceramic Tile T/O except Bedrooms**1 Bdrm/Bath is Guest suite split from Other Bedrooms **2 bdrms Share Bathroom (Jack/Jill )**Raised Height Vanities at all Bathrooms**Kitchen Offers Quartz Waterfall Island, Neutral colored Cabinetry, Stainless Appliances, Smooth Radiant Cooktop, R/O Pre-plumbed to Refrigerator, Large Pantry**Owner Suite w Dual Vanities/Separate Shower/Tub/Private Toilet/Spacious Closet**Laundry Rm w/Built In Cabinetry**8' Tall Interior Doors**Oversized BaseBoards**Low E Vinyl Windows**Covered Back Patio** Builder Incentive w Prefer Lender
7141 E Rancho Vista Drive Unit 2011
Scottsdale, AZ 85251
$888,000
2
Beds
1.5
Baths
968
SqFt
Status
Active
MLS #
6760250
Property Type
Apartment
Price Type
--
This incredible luxury renovation is expected to be completed by 1/15/2024. Warm, Inviting, Modern/Contemporary, Light and Bright... this Optima Camelview Luxury Remodel is simply a breath of fresh air. From the moment you walk inside you'll feel right at home with the abundance of natural wood / natural stone elements and abundance of floor-to-ceiling glass windows. This property boasts a rare floor plan with glass enclosed study featuring custom built in murphy bed acting as a usable second bedroom. Huge Private patio perfect for relaxing or entertaining overlooking Camelview's promenade and fountains. Subzero/Wolf Appliances, Fully integrated smart home with automated blinds, nest thermostats, sonos speakers and smart tv's. All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Womens Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.
4958 E Skinner Drive
Cave Creek, AZ 85331
$888,000
4
Beds
2.5
Baths
2,838
SqFt
Status
Active
MLS #
6770409
Property Type
Single Family Residence
Price Type
--
Gorgeous home featuring everything on your wish list! The beautiful curb appeal invites you in to find plantation shutters, designer lighting & travertine flooring throughout, adding elegance & a timeless appeal to the main living spaces. The gourmet kitchen boasts high-end stainless steel appliances with a double oven, & ample cabinets space. The centerpiece is a generous island topped with luxurious granite that opens up into the family room making it the perfect place to entertain. The primary suite is the perfect retreat on its own side for privacy with a spa-like bath featuring dual sinks, a soaking tub, separate travertine shower & custom walk-in closet. The private backyard oasis features a long-covered patio, artificial turf, a pool & basketball court. 3 car garage with cabinets!
17718 E Bear Wallow Way
Rio Verde, AZ 85263
$888,000
2
Beds
2
Baths
1,948
SqFt
Status
Active
MLS #
6781348
Property Type
Single Family Residence
Price Type
--
Situated in the prestigious Trilogy at Verde River Resort Living Community and ideally positioned on the stunning MOUNTAIN VIEW LOT, this highly sought after Nice floor plan includes a Two Car AND a separate GOLF CART GARAGE and luxurious upgrades throughout. The extended driveway leads to the inviting entry and from the moment you enter the foyer of this meticulously maintained home you are drawn to the amazing Chef's kitchen with Gourmet Appliance package, induction cooktop, wine cooler and beautifully upgraded cabinetry that opens to the great room and expanded dining area. Designed to embrace the Arizona lifestyle to its fullest, this home offers seamless transition to maximize outdoor living with glass wall of glass from the Great Room to enjoy the remarkable space including custom and an outdoor living room with covered patio for lounging. This home is filled with unique characteristics and details and a perfect place to experience the extraordinary Trilogy lifestyle. You will not want to miss this property! Trilogy at Verde River offers upscale Resort living at its finest and the very best of all possible worlds, close to the conveniences of affluent North Scottsdale yet secreted within the pristine privacy of the Sonoran Desert. The amenities are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickle ball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. Whether you're seeking a second, winter home, or will live here year-round, Trilogy at Verde River is an ideal distance from the hustle and bustle of North Scottsdale. Attitudes here are different; there's a sense of community. You'll love the Resort living! What memories will you make?