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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8401 E Monterey Way
Scottsdale, AZ 85251
$875,000
3
Beds
3
Baths
2,139
SqFt
Status
Active
MLS #
6767330
Property Type
Single Family Residence
Price Type
--
Beautifully remodeled 3 bedroom 3 bath home with vaulted ceilings and curved wall features throughout. The inviting layout includes a living room and open concept family room/kitchen. The gourmet kitchen is a chef's dream with custom maple cabinets (under cabinet lighting), high end appliances including pot filler and custom quartz counters with full back splash. The stylish primary suite has custom crown molding, carpet flooring, built in dresser, and custom walk-in closet w/ security safe. The primary bathroom has dual sinks, jetted tub and walk in glass shower. Backyard features 40 foot covered patio w/pressurized misting system and outdoor kitchen which includes a BBQ grill, sink, pizza oven & fire pit. Garage has AC mini split and RV access is thru back alley. New water softener & hot water circulation pump just added. Tool shed and garage not available to see, due to owners need for storage at this time.
3445 E Downing Street
Mesa, AZ 85213
$875,000
3
Beds
2.5
Baths
3,081
SqFt
Status
Active
MLS #
6774640
Property Type
Single Family Residence
Price Type
--
You have been waiting patiently and here it is! This stunning 3 bedroom 2.5 bathroom home with a diving pool is located in the highly desirable community of THE GROVES with NO HOA and will surely impress you! Great curb appeal with accent details, sided 2-car garage with built-in storage cabinets, RV gate, extended driveway & a lush landscape that add to the tranquility. From the moment you walk in the front door from the magnificent entryway, you will be in awe! Just off the front entry, you'll find the formal living & dining rooms! Continue onto the large family room, boasting a brick wood burning fireplace, French doors to the backyard, Plantation Shutters, and a dramatic & decorative wood paneling vaulted ceiling with exposed beams. Natural light fills the majestic interior, enhanced by designer paint, archways, stylish light fixtures, and tasteful flooring - tile & wood-look. The impressive gourmet kitchen is a chef's delight! It showcases a coffered ceiling, recessed lighting, granite counters & backsplash, a huge island with additional seating area, built-in appliances with a separate electric cooktop & upgraded hood, brand new Frigidaire dishwasher installed first week of November, 2024, and refrigerator included as well. The dark wood cabinetry & two walk-in pantries ensure ample storage, soft closed hinges with European soft closing drawers. The cozy breakfast nook, breakfast bar with pendant lighting and built-in niche with lighted cabinets, which is perfect for doing computer work at, are just a few added perks to the kitchen area. The spacious owner's bedroom has an ensuite with dual sinks, a sitting vanity, soaking tub & separate shower with sitting area, custom stained glass windows, two separate linen storage areas, cupboards galore, separate French doors with a walk-out to the sparkling diving swimming pool. All bedrooms feature Plantation Shutters, ceiling fans & walk-in closets! Laundry room with a sink, additional cabinets for extra storage, a window that overlooks the backyard & brings in natural light, along with a built-in ironing board. But the true highlight is the backyard oasis! This space is designed for relaxing & entertaining, offering an oversized covered patio with stamped concrete, ceiling fans, multiple Bose built-in speakers, integrated from the indoor sound system and additional sun shades, double-roof Gazebo with ceiling fan, curtains & electricity that runs to the relaxing area, multiple seating areas, and a sparkling diving pool for year-round enjoyment. If that isn't enough for you, there are two separate large grassy areas and plenty of shade trees for your enjoyment. This backyard is very unique and one of a kind! There is also a half bathroom, conveniently located near one of the doors to the backyard, perfect for your guests while entertaining outside. 47 Panasonic 330w solar panels, two Solaredge inverters are owned & paid off. Some additional features include no carpet throughout, surround sound with upgraded & updated Bose Sound Touch with Bose App throughout the home & backyard, updated & upgraded interior & exterior intercom system, upgraded swimming pool multi-color lighting feature, low watt landscaping lights on an auto timer, central vacuum, 2 HVAC systems on dual programmable thermostats, gorgeous upgraded drapes and so much more! Quick access to schools, shopping, dining options, and freeways. See it! Love it! Live it!
4450 S Rio Drive
Chandler, AZ 85249
$875,000
4
Beds
3
Baths
3,437
SqFt
Status
Active
MLS #
6773732
Property Type
Single Family Residence
Price Type
--
A Beautiful home in a gated community in South Chandler! Enter the home thru wood double doors into the vaulted ceiling entrance to include a view of the wrought iron & wood floor staircase! The wood flooring extends through the 2nd floor. This home is a true 4 bedroom w/a bonus room, 3 full bathrooms. The bonus room is a bonus-the possibilities are endless. 1 of the bedrooms is downstairs w/direct access to downstairs bath. The kitchen amenities: granite counters, 42 inch cabinets, gas stove top, built-in microwave & oven, & double door pantry. Front Living Room used as game room, formal dining, & a family room w/a fireplace rounds out the downstairs,. Plantation shutters on most windows. Upstairs bedrooms are oversized w/a LARGE Master & bath to include sitting/workout/office room. The Master Bedroom has an exit to the deck that runs the length of the back of the home, overlooking the back yard. The backyard is your oasis for entertainment. The lot is over 10,000 sq ft w/a pool, sunken patio w/outdoor fireplace, covered patio, built-in grill, and a pool with removable pool fencing. This diving pool has a built-in spa, diving rock, and waterfall. Multiple exits to the backyard from the house. There is an oversized height 3 car garage w/built-in cabinets, work bench, and wired for EV charging. A double gate w/extra parking has been added. The home sits across the street from the walkway to the greenbelt area/play area for the small community. Additional upgrades include: luxury tile and tall baseboards.
4336 E Encanto Street
Mesa, AZ 85205
$875,000
4
Beds
3
Baths
3,061
SqFt
Status
Active
MLS #
6770303
Property Type
Single Family Residence
Price Type
--
Nestled in the prestigious Summit at Montecito, this stunning residence offers the perfect blend of luxury, comfort, and modern living. Boasting 4+ spacious bedrooms, 3 elegant bathrooms, and an impressive 1/3 acre parcel, this residence is truly exceptional. The family room showcases soaring vaulted ceilings and seamlessly connects the dining and kitchen areas with an elegant fireplace, creating an inviting space for relaxation and entertaining. The gourmet kitchen is a chef's delight, featuring dual ovens, walk-in pantry, stainless steel appliances, and a large island. The master suite is a true retreat, complete with two walk-in closets, a spa-like ensuite bathroom featuring a soaking tub, separate shower, and dual vanities. Each additional bedroom is generously sized, offering ample space in each with a jack-and-jill bathroom. Step outside to your private backyard oasis, where you'll find a heated pool and spa perfect for year-round enjoyment. The covered grotto provides a serene spot to relax, surrounded by mature citrus trees and grass. A covered patio and additional patio with gas and electric hookups, perfect for an outdoor kitchen or entertainment area. The space is beautifully accented with gas lanterns, adding a touch of elegance and charm to your evenings. The home also includes a two-car garage, a multitude of additional parking spaces and plenty of storage space.
7810 N 16th Lane
Phoenix, AZ 85021
$875,000
3
Beds
2
Baths
2,513
SqFt
Status
Active
MLS #
6768495
Property Type
Single Family Residence
Price Type
--
New, beautiful dark grey roof installed 2024, plumbing upgraded 2024, new electrical panel added 2024! This property features a tastefully renovated chef's kitchen adorned with quartz countertops, antique brass finishes, gas range, wine fridge and bar area. Upon entering you are greeted by the cozy formal living room with fireplace which then transitions into the open concept kitchen and expansive great room. French doors connect the great room to the large outdoor patio which offers optimal space for entertaining. The lush green yard includes a 2023 sprinkler system and has plenty of room for the addition of a pool. Additional upgrades include; a new 2022 HVAC system, new flooring in 2020, 2020 kitchen remodel, bathrooms upgraded in 2020, 16 new windowpanes and seals installed in 2024. door opener and 16 new windows to be installed mid-March, water softener, RO system and more.
6126 N 13th Place
Phoenix, AZ 85014
$875,000
3
Beds
3
Baths
2,222
SqFt
Status
Active
MLS #
6770333
Property Type
Single Family Residence
Price Type
--
Updated and remodeled home in great North Central neighborhood. Ranch style home on huge lot. Home was completely remodeled and expanded in 2017. Hardwood floors throughout. Large kitchen with island is open to great room with vaulted ceilings and gas fireplace. Primary bedroom with large walk-in closet is split from other rooms. 2nd primary with private bathroom. Den could be used as a 4th bedroom but no closet. Large covered patio and huge grassy backyard. Madison Schools.
14817 N Calle Del Prado --
Fountain Hills, AZ 85268
$875,000
5
Beds
3
Baths
2,849
SqFt
Status
Active
MLS #
6773079
Property Type
Single Family Residence
Price Type
--
This Upgraded, Beautiful residence, PLUS, 1286sqft GUEST HOUSE in Fountain Hills can be yours! Inside the spacious open floor plan is the heart of the home with an upscale kitchen. Shaker cabinets adorned with crown moulding, prep island sink, tile backsplash, quartz counters, high-end stainless steel appliances, double wall oven & Brand NEW cooktop. The primary offers NEW plush carpet, a trending barn door to the walk-in closet, and a pristine en-suite comprised of dual sinks, a garden tub, and an enclosed glass shower to complete the picture. Amazing guest's quarter provides a great room, kitchen, laundry, two bedrooms, and a bathroom. Access the guest house from the main house, or the separate side entrance! Great opportunity for in-laws, or AirBnB with private yard! Don't miss the wide sliding glass doors in the main house, connecting the indoor & outdoor living! Generous-sized backyard offers a covered patio, artificial turf, and a sparkling pool with 2 waterfalls, perfect for year-round entertaining. The 1/2 acre lot boasts RV parking, separate Casita driveway/parking and privacy. Fantastic location, No HOA, walk to parks and schools. What's not to like? This unique haven will sell fast! Upgrades and Features: NEW water heater, NEW carpet throughout, NEW cooktop, A/C in garage, water softner, epoxy floors, RV parking and gate, 6ft pool, over half acre lot, vaulted ceilings, NEW smoke detectors. 2019 A/C units, roof, windows and complete remodel and guest house addition!
32408 N 211th Avenue
Wittmann, AZ 85361
$875,000
3
Beds
2
Baths
2,290
SqFt
Status
Active
MLS #
6779955
Property Type
Single Family Residence
Price Type
--
LOCATION, LOCATION, LOCATION, 2 ACRES WITH A 1ST CLASS 4 STALL HORSE SHED ROW WITH ELECTRIC, AUTOMATIC WATERS, FANS & A SAND TURN OUT PEN, COVERED TACK ROOM & HAY SHED WITH CONCRETE SLAB & TIE RACKS, GRAVELED FRONT & BACK YARD, 1 ACRE COMPLETELY BARE SO YOU CAN HAVE A FULL SIZE ARENA OR LARGE SHOP, MORE PARKING, ETC FOR ALL YOUR NEEDS, PARCEL 503-40-073A IS INCLUDED IN SALE, 1 ACRE FULLY FENCED IN CINDER BLOCK THE OTHER 1 ACRE 5 RAIL PIPE FENCE, CONCRETE WALKWAY FROM HOUSE TO HORSE PENS, HOME UPGRADES INCLUDE-NEW APPLIANCES, NEW EXTERIOR PAINT, STONE INTERIOR THROUGH OUT HOME, WOOD PLANK CEILING IN MASTER BEDROOM, PAINTED CABINETS, 2 CUSTOM RV GATES, RAIN BIRD DRIP SYSTEM, 15 MINUTES TO SURPRISE, 30 MINUTES TO WICKENBURG, THIS PROPERTY IS A MUST SEE
12473 W Montgomery Road
Peoria, AZ 85383
$875,000
5
Beds
3.5
Baths
3,841
SqFt
Status
Active
MLS #
6782293
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the highly sought-after Vistancia community! This spacious 3,841-square-foot, two-story residence offers five bedrooms, three and one-half bathrooms and an abundance of modern amenities, ideal for both relaxation and entertaining. Located in the vibrant Vistancia community, this home offers access to top-rated schools, parks, walking trails and resort-style amenities, including pools and recreational facilities. Don't miss the opportunity to make this stunning home yours—schedule a private showing today!
4044 W Banff Lane
Phoenix, AZ 85053
$875,000
5
Beds
2
Baths
2,121
SqFt
Status
Active
MLS #
6775182
Property Type
Single Family Residence
Price Type
--
Escape to your own private oasis in the heart of the city! This rare horse property combines country charm with urban convenience. Set on expansive land, it's perfect for a working farm or a haven for horse lovers. Bring your horses or all your horsepower toys - with an RV garage and plenty of space, there's room for everything. Enjoy the luxury of no HOA restrictions, a sparkling pool, and the opportunity to customize your dream lifestyle. Whether you want to create a functioning farm or simply relax, this property offers endless possibilities. Don't miss out on this unique blend of rural serenity and city living!
20382 N 53rd Avenue
Glendale, AZ 85308
$875,000
4
Beds
3
Baths
2,314
SqFt
Status
Active
MLS #
6779095
Property Type
Single Family Residence
Price Type
--
This is the Arrowhead Lakes home you have been waiting for! Beautifully updated 4 bedroom 3 bath home with incredible long lake water views! Indulge in amazing sunset views on a private, quiet cul-de-sac lot. Newly updated kitchen and bathrooms, including one bedroom and bath on the lower level, and new interior paint throughout the home emphasize the light and airy feeling throughout the home. Entertaining oversized pavered backyard with heated in ground spa grotto to enjoy your lake and sunset views from. This beautiful retreat has been lovingly maintained and it shows! Very low maintenance outdoors also makes this an ideal second home! Don't wait to see this amazing home in prestigious Arrowhead Lakes!
11542 E Christmas Cholla Drive
Scottsdale, AZ 85255
$875,000
2
Beds
2.5
Baths
1,743
SqFt
Status
Active
MLS #
6734009
Property Type
Single Family Residence
Price Type
--
Welcome to your perfect ''Lock N' Leave'' luxury home, nestled in the prestigious Desert Views at Troon Village. Surrounded by the breathtaking mountain views of Pinnacle Peak and Troon, this beautifully updated residence offers the ultimate blend of elegance and convenience. The meticulously designed 1,743 square foot home features a thoughtful split floor plan with two primary en-suite bedrooms, a stylish den, and a rare 2.5 baths, accentuated by 10-foot ceilings. The expansive great room layout amplifies the sense of space beyond its dimensions. Step inside to discover a tastefully renovated interior, highlighted by a recently remodeled kitchen. This culinary haven boasts granite countertops, a spacious breakfast bar, a kitchen island, wine fridge, and top-of-the-line stainless steel appliances. Soft-close maple wood cabinetry adds a touch of sophistication. The foyer leads to a chic half bath, featuring a custom floating sink crafted from honed quartzite, complemented by a stunning copper fixture, bespoke lighting, and designer wallpaper from Lemieux Et Cie, evoking the luxury of a 5-star resort. The main primary bedroom is a sanctuary, complete with a private patio and large bathroom windows that frame the mesmerizing views of Pinnacle Peak. The luxurious bathroom offers a garden tub for soaking while admiring the serene backyard. The primary bedroom closet is a masterpiece, illuminated by custom dimmable LED lighting and adorned with designer wallpaper, and plush carpeting underfoot to enhance the sense of opulence. This closet is as functional as it is beautiful, with dedicated shelves for your shoe collection, open shelving for easy access, ample hanging racks, a pullout valet rod for outfit planning, and velvet-lined jewelry drawers for your treasured accessories. It's a space that combines convenience and sophistication, making daily preparations a joy. The backyard of this luxurious home is a sanctuary of relaxation and natural beauty, featuring a rejuvenating hot tub and a custom water feature that creates a serene atmosphere. The xeriscape landscaping is a masterpiece of sustainable design, incorporating over 50 varieties of desert plants to offer a true desert botanical experience. Thoughtfully placed lighting highlights the stunning flora and adds a magical ambiance to evening gatherings. As you relax and unwind, you'll be captivated by the distant mountain views and the iconic silhouette of Pinnacle Peak, creating a picturesque backdrop for every moment spent outdoors. This home is a golfer's dream, situated just minutes from world-renowned golf courses like Monument at Troon North, Grayhawk Golf Club, and Legend Trail Golf Club. Fine and casual dining options abound nearby, including the Four Seasons Scottsdale Resort, Mastro's Steakhouse, Preston's, Fleming's, Pescada, and more. Membership at Troon Country Club offers access to golf, tennis, pickleball, a lap pool, and a state-of-the-art fitness center, along with casual and fine dining options. You'll also be close to numerous renowned spas, including the Fairmont Princess Scottsdale Resort, the Four Seasons Spa, Agave Spa at The Westin Kierland Resort, and The Boulders Resort Spa. This home promises not to disappoint. Come embrace luxury living in the heart of Troon Village. Most furniture, artwork and accessories are available under a separate bill of sale. This home is truly ready to move right in, all you will need is your suitcase.