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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2229 N Beverly Place
Buckeye, AZ 85396
$849,000
4
Beds
2.5
Baths
3,052
SqFt
Status
Active
MLS #
6765530
Property Type
Single Family Residence
Price Type
--
Beautifully Maintained 4 bedroom 2.5 bath Ranch Style Home with PAID SOLAR in the Master Planned Community of Verrado! Located in a Cul-De-Sac Across From A Serene Park. The Home Features Tile Throughout the Main Areas with Carpet in the Bedrooms. Spacious Eat-in Kitchen Features Walk In Pantry, Granite Countertops, Tile Backsplash, Double Wall Ovens, Gas Cooktop & a Large Island with Breakfast Bar. Split Floor Plan -Primary Suite Features Dual Separate Sinks, Separate Tub and Shower and Spacious Walk in Closet. Open Great Room has a Triple Panel Slider Which Leads to Your Backyard Oasis! Sparkling Pool and Newly Installed (2022) Jacuzzi , Built in BBQ and Fire Pit. Backyard Has Professionally Designed Pavers and Turf Along with a View Fence. Verrado is True Resort-style Living! Your HOA Membership Includes a Water Park/ Splash Pad, Community Pool with a Lap Pool and Gym. Public Golf Course, Hiking/Biking Trails and Over 78 Parks to Enjoy. Beautiful Views of the White Tank Mountains and Fabulous Restaurants!
26610 S 196th Street
Queen Creek, AZ 85142
$849,000
4
Beds
2
Baths
2,111
SqFt
Status
Active
MLS #
6766158
Property Type
Single Family Residence
Price Type
--
Motivated Seller, Paved Road, New Roof, Fresh Ext & Int Paint, New carpet, New SS Appliances, Bonus/Rec Rm. Vaulted ceilings, Granite counters, 42'' Oak Cabinets, Tile, Custom Baths, Jetted tub, all interior walls spray cellulose insulated between walls for sound, Dual pane low E Windows, attic insulation Avg-R40+, Large Carport-Rare! LARGE front and rear Patios, Large POOL, new sand filter, Feature, and Spa Jets, Pool side detached patio, Detached insulated Shop with concrete patios front and back! 2 Bay Doors and 4'-man door, Shop has evaporative Cooler, separate Sub panel, wired throughout, horse arena with shade cover/ covered hay/feed area. Detached office with AC & sub pan. Home was completely remodeled in 2006 and meticulously upgraded and cared for by same owners for 24 years.
22810 N 94th Lane
Peoria, AZ 85383
$849,000
4
Beds
3.5
Baths
3,640
SqFt
Status
Active
MLS #
6770020
Property Type
Single Family Residence
Price Type
--
This stunning 4-bedroom, 4-bathroom home is situated on a desirable corner lot with RV PARKING! The floor plan offers an incredible 3,675 sqft of living space, perfect for those who crave both style and function. Interior has high ceilings, smooth tile flooring, and energy-efficient dual-pane low-E windows that bathe the home in natural light. The kitchen features a walk-in pantry, granite countertops, a large island, and both a formal dining area and a cozy breakfast room. The primary suite is conveniently located downstairs with a split layout for added privacy, featuring a double-sink bath and walk-in closet. Upstairs, all bedrooms also include walk-in closets, and a spacious loft offers flexible living space. Outdoor living is just as inviting with a front balcony and a covered back patio that overlooks a large lot and artificial grass. The community enhances your lifestyle with biking and walking paths, a playground, a clubhouse, and a pool. With an RV gate, an air-conditioned 3rd-car garage, and endless possibilities, this home is truly one-of-a-kind!
3230 N Meadow Brook Drive
Flagstaff, AZ 86004
$849,000
4
Beds
2.5
Baths
2,411
SqFt
Status
Active
MLS #
6775726
Property Type
Single Family Residence
Price Type
--
Enjoy Blue Skies and Beautiful Mountain Views While Relaxing Upon Your Back Deck Over Looking the 6th Tee Box of the Continental Country Club Golf Course. This Spacious 4 Bedroom 2.5 Bath Plus Oversized Bonus / Recreation Room is Tucked Away at the End of a Cul-de-Sac yet Minutes from Downtown and Shopping. The 2 Separate Living Spaces Allows Everyone to Stretch Out and Enjoy Their Very Own Piece of Paradise. New Furnace, New Water Heater, New Electrical Panel, New Main Sewer Line, New Garage Door Openers, New Window Coverings, All from 2022, Newer Roof from 2017 and Fresh Paint Makes this Home Absolutely Move-In Ready! Sale of this Property to be Contingent Upon on Sellers Buying a Suitable Replacement.
1700 E Lakeside Drive Unit 1
Gilbert, AZ 85234
$849,000
3
Beds
3
Baths
2,836
SqFt
Status
Active Under Contract
MLS #
6715055
Property Type
Townhouse
Price Type
--
On the water!! Love this water view of Val Vista Lakes from this terrific townhome in highly desired Breckenridge Bay!! Enter this sensational view property & gaze through the wall of glass windows/doors in the great room onto your backyard & lakes!! Soaring high ceilings in the great room & entry make this home just an incredible treat! Kitchen has a super nook area with same views of this blue fabulous Val Vista Lake scene! Primary bedroom is huge and enjoys the same wonderful views of Val Vista Lake! Primary bathroom features double vanities, sep. shower & tub, & a water closet. Additionally, the primary suite has a huge sep. walk in closet! 2nd bedroom (ensuite) is huge with a large bathroom & walk in closet! 3rd bedroom is large (downstairs) & large bathroom close by. Location, location, location---but could use some updating--for a new fresh on-trend look!! Make it just what you want!!
22034 N 28th Place
Phoenix, AZ 85050
$849,000
4
Beds
2.5
Baths
2,492
SqFt
Status
Active Under Contract
MLS #
6749335
Property Type
Single Family Residence
Price Type
--
Welcome to Sky Crossing, a vibrant community surrounded by great dining and shopping options. This modern two-story home offers 4 bedrooms (w/ 2 bonus rooms), 2.5 baths, and thoughtful design throughout. The spacious family room flows seamlessly into the kitchen and dining areas, perfect for entertaining. A versatile den on the main floor makes for an ideal home office or guest room. The primary bedroom is a luxurious retreat with a stunning En Suite bathroom and a custom walk-in closet. The home features carpet, fresh paint, designer wallpaper, and stylish light fixtures that add warmth and elegance. Step outside to your private backyard oasis with low-maintenance turf and an extended paver patio, perfect for gatherings. Living in Sky Crossing means enjoying top-notch amenities, including a community pool, spa, splash pad, fitness center, and basketball courts. The event lawn is perfect for hosting picnics and barbecues with friends and neighbors. Sky Crossing is more than a place to live; it's a place to thrive.
10020 E Strobe Avenue
Mesa, AZ 85212
$849,000
5
Beds
4.5
Baths
3,650
SqFt
Status
Active
MLS #
6759222
Property Type
Single Family Residence
Price Type
--
Gorgeous and stylish Woodside single-story home in the center of amenity rich Eastmark Community! This 5 bed, 4.5 bath complete with study offers an extended 3 car garage and is the perfect layout! Numerous stylish and structural features from 10' ceilings, 8' doors, extended external patio with matching pavers and a private gated courtyard! Upgraded cabinetry in this gourmet chef's kitchen with upgraded quartz countertops, an oversized island, accent lighting and matching stainless appliances with abundant storage in the inspiring walk-in pantry. Spacious great room concept perfect for gathering and entertaining. The Spa inspired oversized master suite has been extended 2', complete with an impressive master wall-to-wall glass shower, an 8' soaking tub, upgraded counters and lighting a pass-through door to laundry! Generous secondary bedrooms with individual and jack 'n jill bath options! Conveniently placed extended private den with glass doors! May extras include an Essential 2 Foot Garage Extension, Plantation Shutters, plenty of storage, upgraded windows, ceiling fans, carpets and much more! A must see! Show and Sell!
1509 W Kiowa Avenue
Mesa, AZ 85202
$849,000
4
Beds
3
Baths
2,750
SqFt
Status
Active
MLS #
6762417
Property Type
Single Family Residence
Price Type
--
Step into this beautifully remodeled home where every detail is designed for luxury and entertainment. This corner lot home has only one neighbor and is everything but ordinary! The HIGHLY desirable Dobson Ranch community is a picturesque, master-planned community built around scenic lakes and filled with top-notch amenities: multiple pools, tennis courts, parks, and walking trails, along with an 18-hole golf course- which is VIEWABLE from this homes very back yard!! The MAIN house boasts 3 spacious bedrooms and 2 modern bathrooms, while the attached, private 1-bedroom, 1-bathroom CASITA offers the perfect retreat for guests or family. Entire home is porcelain and travertine tile, no carpet. CASITA is a completely self containing home on its own with 1 ton wall unit for heating/cooling, washer/dryer, bidet and even RO just like main house. Your primary suite has it's OWN additional room to use as an office, workout or lounging space. En Suite bathroom has modern upgrades, dual sinks and walk in shower. Your chef's kitchen is the heart of the home, featuring stainless appliances-including not 1, but 2 FULL-SIZE refrigerators! Yes,you read that right...2! An apron-style under-mount sink with upgrades like a glass rinser, RO, a sleek low-profile hood, built-in microwave at an accessible height, and an abundance of soft-close cabinets. The stunning counters, Delta Terra QUARTZ **book-matched for symmetry and flow** featuring 3 waterfall edges-- true conversation starter!! Adjacent to the kitchen, the matching wet bar elevates the space with a pull-down faucet, reverse osmosis system, on demand hot water, dual fridges, and an ice maker, all perfectly placed around a cozy wood burning dual sided fireplace. Your open floor plan has breathtaking vaulted ceilings and overlooks the backyard from every window. Outside, the entertainer's dream continues with an expansive backyard, a large diving pool, mature hedges and ample space for gatherings or future backyard projects. This home is the perfect blend of modern style and functionality, and is situated on a golf course corner lot... Curious yet? Come check it out in person, you won't want to leave!
1321 N Bronco Court
Gilbert, AZ 85233
$848,000
5
Beds
3
Baths
3,343
SqFt
Status
Active
MLS #
6766484
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in beautiful Gilbert, Arizona only three miles from downtown! This stunning home, includes 5 large bedroom, 3-bathroom and is a rare find, boasting a unique split-level floor plan with a spacious finished basement, offering both style and functionality. Situated on a private cul-de-sac lot, this property exudes charm and curb appeal from the moment you arrive. Step inside to discover freshly painted interiors, creating a bright and inviting atmosphere throughout. The brand-new plush living room carpet underfoot provides a touch of luxury. The newly remodeled kitchen cabinets add a modern touch, beautifully complementing the open kitchen design where the kitchen is the heart of the home and ideal for the home chef and entertaining guests. For those who value storage and convenience, the garage is equipped with custom cabinets and gleaming epoxy flooring; a perfect space for keeping everything organized and spotless. The backyard is a true oasis! Enjoy the sparkling saltwater pool and relaxing spa, and lush artificial turf for easy maintenance and year-round greenery. This serene retreat offers ample space for gatherings, barbecues, or simply unwinding in your own slice of paradise. Pride of ownership shines throughout this meticulously maintained home. With its prime Gilbert location, top-notch upgrades, and beautiful outdoor living space, this gem won't last long. Don't miss the chance to call this exceptional property your new home! Schedule your showing today!
38500 N School House Road Unit 5
Cave Creek, AZ 85331
$847,500
3
Beds
3
Baths
2,113
SqFt
Status
Active
MLS #
6752405
Property Type
Single Family Residence
Price Type
--
Experience resort-style living in the heart of Cave Creek with this stunning 3-bedroom, 3-bathroom home. Perfectly situated within walking distance to the vibrant town center, you'll have easy access to a variety of restaurants, shopping, and entertainment options. This home features an open floor plan with soaring ceilings, granite countertops, tile and carpet flooring, and new appliances. Enjoy the outdoors on your patio with a fireplace, just steps from the community pool. The community is rich with amenities, including a heated pool and spa, BBQ pavilion, fire pit, pickleball court, fitness center, and a dog park. This move-in ready home offers the perfect blend of luxury, convenience, and scenic beauty, making it an ideal retreat in one of Cave Creek's most sought-after locations.
10829 N 11th Place
Phoenix, AZ 85020
$847,000
5
Beds
3
Baths
2,600
SqFt
Status
Active
MLS #
6755698
Property Type
Single Family Residence
Price Type
--
Welcome to El Castillo, an extraordinary residence located on a tranquil street, with breathtaking North Mountain Park views, this meticulously maintained home blends comfort, luxury, and nature. With 2,600 square feet of living space, security monitored 24/7 and surround sound, this home is perfect for families and entertainers alike. This home also boasts five spacious bedrooms and three bathrooms, including a convenient first-floor bedroom and full bath, this home provides flexibility for guests, a home office, or multi-generational living. At the center of this home is a beautifully updated gourmet kitchen (2016), complete with a top-of-the-line Dacor gas range, double ovens, sleek granite countertops, and a spacious walk-in pantry. The open layout effortlessly connects the kitchen to the great room, making it the ideal spot for entertaining or enjoying family time. Upstairs, an expansive loft offers additional room for relaxation or fun. The primary suite is a peaceful haven, boasting dual vanities and a luxurious dual-head shower. Outside, the backyard is a true retreat, with a sparkling pool, spa, and lush landscaping with a brand new irrigation system (2023). All this, framed by stunning mountain views. The recently refreshed exterior and interior paint add to the home's pristine condition, while the firepit provides a cozy ambiance for fall and winter nights. Located near the North Mountain Park hiking trails, this home offers a rare balance between natural beauty and city conveniences with dining, entertainment, major highways, shopping and Scottsdale or Sky Harbor Airports only minutes away. Plan your tour of El Castillo Today!
2041 S Bristlecone Drive
Show Low, AZ 85901
$845,900
4
Beds
2
Baths
1,989
SqFt
Status
Active
MLS #
6778335
Property Type
Single Family Residence
Price Type
--
Custom home in peaceful secluded high end Sierra Pines on mature ponderosa forested acre. This prime forested lot has been evaluated and managed to Firewise industry standards and boosts other additional in home high-end safety upgrades including exterior fire-resistant cement board siding on both the residence and supplemental garage, composite plank covered decks front and back. The fresh driveway, and a secondary detached 2 car garage. make managing and storing toys easier. Inside, this rare find you have 4 bedrooms and 2 bath as part of the a split floor design. Hardwood hickory floors, a gas-start fireplace that makes starting a cozy fire easy. Enjoy lower energy bills and efficiency with solar panels and a solar blanket in the attic.
