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.
Click Here to See What Your Home is Worth
1667 N Circle Drive
Tempe, AZ 85288
$849,000
2
Beds
2.5
Baths
1,845
SqFt
Status
Active
MLS #
6776306
Property Type
Single Family Residence
Price Type
--
This exceptional home has literally been transformed from the ground up and is essentially a brand new home! Completely taken down to the studs, every component has been updated and replaced, including all new plumbing and electrical, wall and attic insulation, roof with new sheathing, windows, doors, and drywall. Even the pool has been fully remodeled, featuring new pebble tec, tile, cool decking, and brand new variable speed equipment. Inside, you'll find beautiful designer finishes and luxurious upgrades throughout, with eye catching bathrooms, porcelain wood-look tile, shaker style cabinets with crown molding, gorgeous quart counters and GE appliances. Additional features include a newly installed paver driveway, spacious 2-car garage, convenient indoor laundry, and fresh landscaping This remodel was meticulously designed by an architect, fully permitted, and completed by licensed contractors. Ideal as a primary residence or a fabulous short-term rental opportunity. This beautiful new home is a must see!
2374 W Weatherby Way
Chandler, AZ 85286
$849,000
4
Beds
2.5
Baths
2,954
SqFt
Status
Active Under Contract
MLS #
6780325
Property Type
Single Family Residence
Price Type
--
Now is your opportunity to own this impeccably maintained property that has been lovingly cared for by the original owners. Located in the desirable Brittany Heights community and perfectly situated on a 10,000 square foot lot with a north facing backyard! A single level home featuring a split floor plan with 4 bedrooms and 2.5 baths. As you enter, you'll be greeted by a bright and airy formal living room, which flows seamlessly into the formal dining room — perfect for hosting dinners or gatherings. The open-concept layout enhances the sense of space, with large windows allowing plenty of natural light to flood the interior. The kitchen is a true highlight, having been fully updated with modern finishes, stainless steel appliances, and ample counter space. Crisp white custom cabinets with pullout shelving, paired perfectly with granite counters and stone backsplash. The sleek hardware and updated lighting pull it all together. A dedicated pantry along with the GAS range will appeal to all the chefs out there! The eat-in kitchen opens to the great room making it ideal for entertaining or comfortable daily living. Another standout feature is the custom gas fireplace, which serves as both a functional centerpiece and a stunning design element. The primary bedroom offers a peaceful space after a long day. The primary bath is a true spa-like retreat, designed to offer a luxurious and serene experience. As you step inside, you're immediately enveloped by a calming atmosphere, where you will find high-end finishes, and thoughtful design elements to include this spectacular walk-in shower and custom designed closet. The home offers 3 additional bedrooms along with a full bathroom and powder room! Even the laundry room is a stand out! You will find an abundance of cabinetry and a nice counter space for folding. The 3-car garage offers a 4 foot extension! On the weekends you will spend your time in your private backyard relaxing under the covered patio or floating in your fenced heated pool. The hot tub provides the ultimate place to relax and recharge. The desert landscaping has been thoughtfully designed to complement the natural beauty of the Arizona desert to include artificial turf! But wait.. there is more! Both HVAC units (with 2-stage straight cool condenser) were replaced in 2019. You will also find notable upgrades such as planation shutters, hand-scraped wood flooring, upgraded baseboards and crown molding... the list goes on and on! Brittany Heights is a community in the heart of Chandler close to shopping, dining, and easy freeway access. Top ranked Chandler Schools and Hamilton High School are an added bonus! Homes of this caliber are not found often.. come see for yourself!
17197 W Thousand Oaks Street
Surprise, AZ 85388
$849,000
2
Beds
2.5
Baths
2,444
SqFt
Status
Active
MLS #
6784776
Property Type
Single Family Residence
Price Type
--
This ''Davidson'' model has it all: Oversized covered patio, interior atrium, corner lot, North-South exposure, sunsets, and PEEKABOO mountain views! The open-concept kitchen flows effortlessly into the great room and dining room, making this floor plan ideal for entertaining. The split floor plan offers a second bedroom with privacy and an en suite bathroom. The home is located next to a greenway and getting in and out of the neighborhood is effortless.
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!
3233 E Bluebird Place
Chandler, AZ 85286
$845,900
5
Beds
4.5
Baths
3,778
SqFt
Status
Active
MLS #
6740385
Property Type
Single Family Residence
Price Type
--
This exquisite 5-bedroom, 4.5-bathroom home is a perfect blend of luxury and comfort. The bedrooms feature brand new, plush carpeting, creating a cozy and inviting atmosphere. The heart of the home is the spacious kitchen, complete with a stylish island, sleek stainless steel appliances including a microwave, range, and dishwasher. The kitchen seamlessly flows into the family room, making it an ideal space for entertaining and family gatherings. Step outside to enjoy the sparkling pool, offering a refreshing retreat on warm days. This home combines modern amenities with elegant design, providing an exceptional living experience.
718 E Scorpio Place
Chandler, AZ 85249
$845,900
6
Beds
3
Baths
3,881
SqFt
Status
Active
MLS #
6775205
Property Type
Single Family Residence
Price Type
--
This stunning two-story home offers six spacious bedrooms and three modern bathrooms, making it ideal for larger families or those who love to entertain. The inviting open layout features new flooring throughout, with cozy carpet in the bedrooms, enhancing comfort and style. The freshly painted kitchen boasts sleek cabinets with updated hardware, elegant quartz countertops, and a convenient kitchen island, perfect for meal prep and casual dining. Upstairs, you'll find five bedrooms along with a versatile loft area, including the luxurious primary suite, while the backyard oasis features a beautiful pool for relaxation and fun in the sun.
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.
2468 S Salida Del Sol --
Chandler, AZ 85286
$845,700
4
Beds
2
Baths
2,446
SqFt
Status
Active
MLS #
6745020
Property Type
Single Family Residence
Price Type
--
Experience luxury, gorgeous remodeled Ocotillo home in Chandler. It features custom solid surface cabinets and quartz mitered countertops throughout, with seamless wood-look vinyl flooring with no carpet. Highlights include a 10-foot metal bifold exterior door, a custom built in electric fireplace, and stylish black hinges and hardware. The bathrooms boast fluted tile, custom glass showers, Delta faucets. The master shower has a built-in seat with a handheld wand, and a waterfall tub faucet. The garage offers a triple epoxy finish, and laundry room has a custom built in. Enjoy a matured private landscaped yard, Pebble Tech play pool, jacuzzi with BRAND NEW 400K BTU heater, and newly redone cool deck. Newer AC units complete this move-in ready home.
42920 N Highway 60 --
Morristown, AZ 85342
$845,000
3
Beds
2
Baths
1,967
SqFt
Status
Active
MLS #
6745454
Property Type
Single Family Residence
Price Type
--
VIEWS, VIEWS, VIEWS! This newly constructed 3-bedroom, 2-bathroom home offers captivating mountain views and a charming front porch, ideal for having your morning quite time. As you enter through the double doors, you'll be greeted by a spacious, open floor plan and an elegant wood-looking flooring that perfectly flows throughout. The galley kitchen is a culinary delight, featuring plenty of counter space accompanied by a stylish tile backsplash, and stainless steel appliances. The primary suite has plenty of space with a pristine ensuite, dual sinks, a glass-enclosed shower, and a generous walk-in closet. Unwind on the covered patio, where you can relax and take in the stunning panoramic views and endless blue skies. This home is an absolute must-see and is sure to exceed your expectations!
2419 E Tomahawk Drive
Gilbert, AZ 85298
$845,000
6
Beds
4
Baths
3,831
SqFt
Status
Active Under Contract
MLS #
6750097
Property Type
Single Family Residence
Price Type
--
Discover luxury living in this stunning 2-story home in Gilbert's sought-after Adora Trails community. This elegant residence features a spacious living area with a cozy fireplace, a gourmet kitchen with stainless steel appliances, quartz countertops, and custom cabinetry. The luxurious downstairs guest suite offers privacy and comfort. Enjoy your private backyard oasis with a sparkling pool and ample space for entertaining. Additional highlights include a three-car garage and meticulous landscaping. Located near parks, trails, shopping, and dining. Schedule your private showing today to explore all that this exceptional residence has to offer and discover the luxury lifestyle awaiting you in Adora Trails.