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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36138 N Summit Drive
Cave Creek, AZ 85331
$3,975,000
4
Beds
4.5
Baths
5,017
SqFt
Status
Active
MLS #
6711246
Property Type
Single Family Residence
Price Type
--
Million Dollar Views as far and wide as the eye can see! Views from every window in the house. Your own AZ get a way on about 1.5 acres. This 4bed + office, 4.5 bath includes an elevator. Retractable wall of windows bring the outdoors in, vaulted ceilings with beams, large wrap around balcony, Open floor plan, Gourmet Kitchen, SS Appliances, Dual ovens, Granite & Wood block Countertop, Alder cabinets and doors, Fireplaces in Family Room & Kitchen, Master boasts more amazing views. Master Bath with large walk-in closet. Take the ELEVATOR to Game/Theatre room, Wine Cellar and 2 guest bedrooms. Resort Style Backyard is perfect for entertaining. Extensive exterior misting system.
10040 E Happy Valley Road Unit 676
Scottsdale, AZ 85255
$3,975,000
5
Beds
5.5
Baths
4,445
SqFt
Status
Active
MLS #
6654478
Property Type
Single Family Residence
Price Type
--
Embrace elegance on the 17th fairway of the renowned Desert Highlands Golf Course. Enjoy immediate access to FULL CLUB Privileges in this 5 bed/5.5 jewel box home designed by Allen Tafoya, in built by Rick Merritt-built 5 bed/5.5 with interiors by Billi Springer. This old-world inspired home features an open floor plan, blending exquisite finishes with functional luxury. The expansive layout includes a grand master suite, a dedicated exercise room, and a versatile upstairs office. Every space is crafted with precision, harmonizing indoor comfort with serene golf course views. Experience sophistication in this stunning home, where lifestyle, luxury, and exquisite craftsmanship meet. The upstairs Study has outstanding city light views. The main level frames Pinnacle Peak.
9015 E Los Gatos Drive
Scottsdale, AZ 85255
$3,975,000
3
Beds
3.5
Baths
3,849
SqFt
Status
Active
MLS #
6751566
Property Type
Single Family Residence
Price Type
--
Just Completed! Exquisite Luxury Modern-Spanish Masterpiece located in the best pocket of N. Scottsdale and ready for executive entertaining. Entry through the vintage gated courtyard and calmed by the serene water fountain that leads you through the custom arched glass doors. The high ceilings will draw your eyes to the stunning resort-like yard with new custom pool and spa off the massive patio. The chefs kitchen offers two oversized Islands, dual wine refrig, plus a butlers pantry that is so divine, you must see for yourself! Private master retreat with city lights, mtn views and unforgettable sunsets from your private balcony. Add'l bedrooms all en-suites w/ private entry and views everywhere. This estate home would be perfect for year around or a lock and leave.
3955 E Sierra Vista Drive
Paradise Valley, AZ 85253
$3,962,456
4
Beds
4.5
Baths
3,820
SqFt
Status
Active
MLS #
6728696
Property Type
Single Family Residence
Price Type
--
This is the last remaining New Home under construction by Cullum Homes in the community of Paradise Reserve. This contemporary Santa Barbara design home sits next to the community park with no neighbors. The Iron front door leads you into a 2 story foyer with a checkered pattern black and white flooring and staircase in a warm wood by Du Chateau. The Chefs Kitchen adorned with Sub Zero, Wolf and Cove appliances over look the Great Room with high ceilings, large Fireplace, Wet Bar and wall of glass opening to the covered patio of the back yard. The outdoor space carries the same checkered pattern tile bringing the outdoors in. The outdoor fireplace, water feature and outdoor BBQ are great for those entertaining evenings. 2 of the 3 oversized en suite guest rooms all accommodate King Size Beds and have there own outdoor sitting space. 1 of the guest bedroom en suite is designed like a guest Casita with a Kitchenette and attached garage. Use it as part of the home at all times or close it off to give guests their own space and privacy. The 3 car total garage, laundry, powder bath and elevator complete the first level of this home. You may take the elevator or staircase to the Primary suite level. The loft area and outdoor loggia is perfect for retiring to for the evening. Take in the incredible views of the Phoenix Nature Preserve from the covered entertaining space. The Primary suite and bath are just steps away. The calming spa like bath with Shower, soaking tub, vanity and custom walk in closet with built in storage give privacy to the Primary. The loggia off the Primary bedroom has views of Downtown and Uptown Phoenix on the Horizon. This community is situated in close proximity to all Paradise Valley, Biltmore and Scottsdale have to offer! 24/7 Guard Gated Clubhouse and Pet Park The mixture of contemporary design and pops of old world blend timelessly in this new home. Come see this home today!
15 Sky Ridge Court
Sedona, AZ 86336
$3,956,895
5
Beds
6
Baths
4,420
SqFt
Status
Active
MLS #
6518168
Property Type
Single Family Residence
Price Type
--
Discover the beauty of Sedona's newest subdivision - Sky Ridge Estates! This hilltop lot offers breathtaking panoramic views of the North, East, and South. You have the option to build a custom home with three, four, or five en-suite master bedrooms. Plus, this exclusive location is only a short walk from the city's brand new park, museums, town square, high-end shopping and dining, spa resorts, and more. Enjoy the convenience of a lit tennis/pickleball court and Oak Creek front park available for membership. The seller is offering financing to qualified buyers, and they will even participate in the cost of grading, driveway, and pad once your home plans are submitted and grading permits are issued. Imagine waking up to picturesque views every day in your spectacular new home. This is one of the top/best premium five lots in the cul-de-sac end of the road. The home is to break ground after completing the existing roads and utilities. A guest house may be added. Home can be completed in 12-18 months(24, if rammed earth). The rendering in this listing is for the next-door home (lot #16). All the homes are custom, but this is the larger model, so plans must be adjusted for this particular lot. Or you can start from scratch with another architect. The developer/seller/builder has negotiated discounts for the design and plans. *Subdivision is approved, and roads and utilities are being constructed. The private clubhouse and gates are being submitted to the city for approval on an adjoining 1.76-acre parcel on Brewer Rd. A buyer-builder program is in place with renowned architectural firms and builders PHX Architecture Erik B. Peterson and Galloway Custom Homes, Paul Galloway. Call for details. The owner/seller is an experienced, active, licensed Arizona real Estate Broker, General Contractor, and Developer.
2782 Andrew Douglass --
Flagstaff, AZ 86005
$3,950,000
4
Beds
4.5
Baths
6,100
SqFt
Status
Active
MLS #
6755147
Property Type
Single Family Residence
Price Type
--
Perched upon 1.28 acres of picturesque land, this stunning log home is a masterpiece of craftsmanship and history, built from ''King'' logs salvaged from the historic Yellowstone fire. The property boasts panoramic views of the 16th hole of the Meadow Golf Course and amazing views of the San Francisco Peaks, enhancing its serene and picturesque setting. Inside, the home offers multiple living areas, including a spacious, reimagined game room complete with newly constructed full bar—ideal for entertaining guests. The large chef's kitchen features a center island, modern appliances and is open to the formal dining area and an additional family room, providing a seamless flow for gatherings. The primary suite is conveniently located on the main level, providing easy access and a tranquil retreat, with the other bedrooms tucked away downstairs. The residence is designed for comfort and elegance, with four rustic fireplaces and central air conditioning ensuring a pleasant atmosphere year-round. Enjoy the outdoors from multiple covered decks that offer sweeping views and wonderful privacy. A brand-new Lutron lighting system has just been installed! With its blend of historical charm, modern amenities, and stunning natural views, this log home is a unique sanctuary. Tucked away amidst 1,100 acres of pristine alpine beauty, Forest Highlands exudes an unparalleled sense of exclusivity and serenity. With two championship golf courses designed by Tom Weiskopf and Jay Morrish, Forest Highlands sets the stage for unforgettable golf experiences. The community offers an array of exceptional amenities, including two clubhouses, multiple dining options, tennis courts, swimming pools, and miles of hiking and biking trails. Forest Highlands is a retreat where luxury meets nature, ensuring a harmonious lifestyle for its residents.
1301 S Manzanita Hill Road
Prescott, AZ 86303
$3,950,000
4
Beds
5
Baths
3,622
SqFt
Status
Active
MLS #
6764604
Property Type
Single Family Residence
Price Type
--
Extraordinary opportunity to purchase a stunning 7.89 acre hilltop estate just 3 miles from downtown Prescott, AZ. Private yet easily accessible, this one-of-a-kind property offers just the right amount of seclusion for a weekend getaway, a seasonal vacation retreat, or a primary dream estate. Built in 1989, the home features numerous architecturally significant elements including soaring tongue-in-groove ceilings, a breathtaking wall of glass designed to maximize the awe-inspiring panoramic mountain views, and a romantic curved staircase ascending to the upper level. The main home features 2 ensuite guestrooms - one on the main level, one on the upper level. The primary ensuite on the upper level is ideally situated to take full advantage of the magnificent views and outdoor deck space.
10493 E Skinner Drive
Scottsdale, AZ 85262
$3,950,000
5
Beds
5.5
Baths
5,944
SqFt
Status
Active
MLS #
6763000
Property Type
Single Family Residence
Price Type
--
FULLY PERMITTED elegant 6,000 sq ft Gramling Architecture designed residence in guard gated Candlewood Estates. The home design features a sophisticated floorplan with 5 spacious bedrooms, a dedicated study, bonus room, and a luxurious attached casita. The elevated lot lends itself to fantastic views of Pinnacle Peak and the surrounding mountains. With soaring ceilings and expansive windows, this home and its location will not disappoint. Troon North is home to the public Troon North Golf Club, grassy parks, endless hiking and mountain biking trails, pickleball and tennis courts, and some of the most beautiful desert scenery in the Valley. Skip the wait and start building now!
1234 W Orchid Lane
Phoenix, AZ 85021
$3,950,000
5
Beds
5
Baths
4,700
SqFt
Status
Active
MLS #
6737909
Property Type
Single Family Residence
Price Type
--
NEW BUILD!! 5-bedroom, 5-bathroom residence that exudes elegance and functionality. Each bedroom is a private oasis, complete with its own on-suite bathroom, offering comfort and convenience for family and guests alike. The heart of the home is the gourmet kitchen, a chef's dream with state-of-the-art appliances, expansive countertops, butler's pantry and custom cabinetry. The dedicated wine room promises to be a connoisseur's delight, perfect for storing and showcasing a prized collection. Dual laundry rooms ensure household chores are handled with ease, providing ample space for organization and storage. The extra-large 3-car garage offers generous space for vehicles and storage, while also serving as a versatile area for hobbies or a workshop. This home is a perfect blend of luxury and practicality, designed to cater to a refined lifestyle. The outdoor spaces of this luxurious home are designed to offer an unparalleled experience of elegance and leisure. Imagine stepping into a meticulously landscaped garden, where the tranquility of nature meets the sophistication of design. A stunning pool and spa serve as the centerpiece, creating a serene oasis for relaxation and social gatherings. Adjacent to the pool, a state-of-the-art outdoor kitchen awaits, fully equipped for al fresco dining and entertainment. Comfortable seating areas are interspersed throughout, featuring plush sofas and lounge chairs, perfect for enjoying the warm Arizona sun or gathering around a sleek fire pit during cooler evenings. These outdoor living spaces are not just visually appealing but are functional extensions of the home, crafted to enhance the joy of outdoor living.
2717 E Byrds View Drive
Flagstaff, AZ 86005
$3,950,000
4
Beds
4.5
Baths
3,698
SqFt
Status
Active Under Contract
MLS #
6750858
Property Type
Single Family Residence
Price Type
--
Discover your dream home in this luxurious 2021 custom-built, 4-bedroom, 4.5-bathroom, 3,686 sqft residence, perfectly situated on a premium golf course lot at the end of a private cul-de-sac with breathtaking views of the picturesque par-5 4th hole. The thoughtfully designed floor plan balances privacy with open living, featuring a spacious master wing with a private patio, ideal for morning coffee or evening relaxation. Every detail exudes contemporary elegance, from high-end finishes to seamless indoor-outdoor flow. Nestled in the serene beauty of the Pine Canyon community, this exceptional property offers an unmatched lifestyle of comfort and sophistication. Stay tuned—this stunning home won't be on the market for long!
9278 E Andora Hills Drive
Scottsdale, AZ 85262
$3,950,000
5
Beds
6
Baths
7,156
SqFt
Status
Active
MLS #
6748136
Property Type
Single Family Residence
Price Type
--
Beautifully updated Old World Spanish Estate in acclaimed Desert Mountain. Nestled for extreme privacy down a long brick-paved driveway, you will find timeless architecture like none other with an elegant foyer, an 11ft vaulted cantera stone archway, and a double sided floor to ceiling fireplace. Attention to detail is truly a sight to see here. Nothing compares to the recently expanded luxury outdoor living under the cabana with a misting system, fireplace, fire pits, television, Baja step, infinity-edge pool, spa, and multiple water features. The outdoor kitchen, various patios and sitting areas complete this oasis. A resort-like setting for relaxing and entertaining. The luxury primary suite has been completely remodeled with top-of-the-line cabinetry, a Miele coffee system, sub zero beverage center, steam shower, high-end finishes, marble countertops and two large walk-in closets. Also, enjoy the private balcony offering stunning mountain and sunset views. The gourmet kitchen/family room has top-of-the-line appliances, offering everything a chef desires. The spacious bonus room will not disappoint, nor will the lovely study/office adjacent to the front porch patio. Wine lovers will appreciate the 16ft brick grid vaulted wine room with charming wine barrels visible through a window from the dining room. Solar power and luxury designer lighting throughout expand on the custom finishes. Private patios are artfully placed, so that every room offers an opportunity to enjoy the beautiful desert surroundings, built-in BBQ, and multiple sitting and dining areas. You will also enjoy the private view deck with breathtaking sunset and city light views. Membership to the Desert Mountain Club is not included. Desert Mountain offers seven golf courses, seven clubhouses, a 3,000-acre private recreational preserve with over 25 miles of hiking trails, an expansive workout facility, spa, grass and clay tennis courts, pickleball courts, bocce ball, and so much more. Additional photos to come once the full renovations have been completed.
8595 E Bronco Trail
Scottsdale, AZ 85255
$3,950,000
5
Beds
5.5
Baths
5,365
SqFt
Status
Active
MLS #
6636180
Property Type
Single Family Residence
Price Type
--
An Amazing Grand Estate on approximately 2.2 Acres with NO HOA & minutes to fine dining, shopping & entertainment. This Custom home has an open floorplan & is well appointed with a kitchen built for a chef with high end finishes & stainless-steel appliances, & a large island which seamlessly merges with the open family room. Just off the kitchen entertain your guests in the formal dining room & wine cellar/tasting room which exceeds over 300 bottles of your top choices. The grand first-floor master bedroom has a fireplace & the en-suite features dual vanities, cosmetic counter, jetted tub & spectacular views of the backyard oasis. The second master bedroom is located on the second floor with its own walk-in closet & luxury bathroom. Enjoy the massive upstairs balcony with a two-sided fireplace with mountain & city light views. The Backyard was built for enjoyment. A heated pool & spa with waterfall, grotto, a built-in BBQ, Big Green Egg Grill, putting green & a large, extensive covered patio, your guests will never want to leave. This estate also has a guest house with a full kitchen, beautiful cabinetry, a fireplace & granite counters.
