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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10416 N 52nd Street
Paradise Valley, AZ 85253
$3,500,000
5
Beds
6
Baths
6,685
SqFt
Status
Active
MLS #
6768580
Property Type
Single Family Residence
Price Type
--
REDUCED PRICE FOR QUICK SALE! Magnificent Tuscan-style estate on a sprawling, beautifully manicured acre lot located in the highly sought-after Paradise Valley, just moments away from top-tier shopping and dining in both PV and Scottsdale. With over 6600 square feet of living space, this residence offers a spacious great room floor plan with 5 bedrooms and 6 bathrooms. The home boasts elegant formal living and dining rooms, a large family room with a gas fireplace, and a bonus/game room for added leisure. The split floor plan ensures privacy, with the expansive primary suite featuring a cozy sitting room with a gas fireplace, a spa-inspired bathroom with dual sinks, a walk-in shower, a freestanding soaking tub with a remote-controlled electric fireplace, two oversized walk-in closets and a cedar closet. The guestwing offers 4 spacious en-suite bedrooms, each with walk-in closets. The gourmet kitchen is a chef's paradise, equipped with a large island and top-of-the-line appliances. Multiple French doors open to the resort style backyard oasis, complete with a spacious covered patio, a heated pebble tec diving pool, a lush lawn, built in BBQ and a ramada perfect for outdoor entertaining. Luxury finishes throughout include marble and travertine flooring, vaulted and wood-beamed ceilings, crown molding, custom cabinetry, and designer lighting. This home is a must see and has been meticulously maintained. Home is available to be purchased fully furnished on a separate bill of sale.
6527 E El Sendero Road
Carefree, AZ 85377
$3,500,000
4
Beds
4
Baths
5,843
SqFt
Status
Active
MLS #
6783146
Property Type
Single Family Residence
Price Type
--
Villa Sorgenfrei invites you to discover its charm. At first glance, it appears modest, but as you step through the hand-carved front door, a grand reveal awaits: an expansive living room with soaring, beamed ceilings, Saltillo tile floors, and a wall of windows framing a stunning gas fireplace. You're immediately drawn toward the windows, which offer a sweeping view from Pinnacle Peak to Camelback Mountain, stretching out to the stadium and beyond. Enjoy sunsets, city lights, and mountain vistas from both inside and on the spacious covered patio. A terraced backyard is adorned with desert plantings and is complete with a heated pool and spa. The custom-designed kitchen is a chef's dream, featuring high-end Gaggenau and Dacor appliances, copper sinks, an oversized island, and vaulted ceilings and decorated with Tabarka tile. Dine in the kitchen's cozy breakfast nook or in the window-lined dining room, beautifully set between arched doorways. For seamless entertaining, the custom bar is equipped with a wine station and beer tap with a striking custom copper tower and cabinetry crafted from Arizona Mesquitealso featured in the kitchen's hood mantle, the living room's fireplace mantle, and the office built-in. The office is both functional and inviting, featuring a Murphy bed making it an ideal guest room. Adjacent is a beautifully tiled ¾ bathroom with authentic Mexican tile, a custom vanity, and copper fixtures. The primary bedroom is a serene retreat with vaulted ceilings, large windows facing the south, and ample natural light. It includes two walk-in closets and a luxurious primary bath, completing the west side of the home. A third bedroom is set apart from the rest for maximum privacy, featuring an en-suite bath with Mexican tile, a custom vanity, and a hand-painted sink. Throughout the home, designer-selected lighting fixtures add unique character, chosen during the thoughtful remodel in 2018-19. Guests will enjoy the detached casita, complete with its own kitchen, living area, bedroom, bathroom, and a private deck for relaxing in solitude with panoramic views. A one-car garage adds both convenience and charm for guests. Quintessential Carefree awaits. (Main house has 3 steps in from garage and no other interior steps. Casita is all one level.)
8332 E Sand Flower Drive
Scottsdale, AZ 85266
$3,499,995
4
Beds
4
Baths
4,297
SqFt
Status
Active
MLS #
6734396
Property Type
Single Family Residence
Price Type
--
MOVE IN READY beautiful pre-designed home with luxurious upgrades inside and out. The award winning Mayne Modern home design was made for entertaining. This single-level home showcases an open floor plan with elevated ceiling heights in the main living spaces. The Gourmet kitchen is a chef's delight with upgraded maple cabinets and designer stainless steel appliances included a Wolf 48'' Rangetop w/Griddle, Pro Hood, Micro Drawer, Pro Double Ovens, and Cove Dish Washer. Spacious great room features a 60'' primo fireplace and 20' multi-stacking door open to covered patio. Oversized bonus room with wet bar and direct access to large covered patio. Attached casita with living area and full bath. Price includes full landscape and pool. THIS IS A MUST SEE!
14300 N Moongaze Drive 03 Drive
Marana, AZ 85658
$3,499,900
3
Beds
4
Baths
2,934
SqFt
Status
Active
MLS #
6770080
Property Type
Single Family Residence
Price Type
--
Experience the ultimate in privacy, tranquility, and security at Saguaro Ranch/Moonlight Canyon. This incredible MOVE-IN READY New Construction home boasts 2,934 sq ft, 3 Bedrooms, 3.5 bathroom, and a den/office. Enjoy EXPANSIVE, breathtaking, panoramic views of the Catalina Mountains and Tortolitas, and marvel at the stunning Ron Robinette Architecture and Lori Carroll Interior Design. Featuring a WINE CELLAR built INTO the Mountain! Other features include split bedroom plan with en-suite baths, 3 car side entry oversized garage, 400 AMP Electric service, 2x6 and some double 2x12 exterior wall construction with foam and batt insulation, recirculating hot water system combined with tankless hot water heater, Wolf and Subzero stainless appliances. Synthetic plaster exteriors, tile in all the public areas. Don't miss out on this once-in-a-lifetime opportunity!
6413 E Ashler Hills Drive
Cave Creek, AZ 85331
$3,499,900
4
Beds
5
Baths
4,057
SqFt
Status
Active
MLS #
6762063
Property Type
Single Family Residence
Price Type
--
Stunning rustic contemporary home on a private road with no hoa. Home sits on 2 1/2 acres fully fenced with rear yard that has capabilities for adding another 10,000 of casita, garage and or under roof if desired. Home surrounded by beautiful cave creek desert mountain views, as well offers privacy and while being close to shopping and schools. The chefs kitchen boast twin Subzero 736 refridgerators and Wolf oven and range top, large walk in pantry, prep and primary sink on dual islands, hidden accessories, quartzite countertops. Home has City of Scottsdale water, 2 stage water filtration, a water softener and 2 RO systems for drinking water and ice. Back patio boast tv sitting area, 48 inch firepit, built in BBQ and sink, bar island and mister system. Buyer to verify all information.
9591 E Havasupai Drive
Scottsdale, AZ 85255
$3,499,000
5
Beds
5
Baths
5,240
SqFt
Status
Active
MLS #
6719082
Property Type
Single Family Residence
Price Type
--
Located in one of the finest private communities in Scottsdale, this luxurious home sits on THE BEST lot in La Strada. Surrounded by mountain views & city lights while still in the heart of the city, this stunning & spacious home features all the amenities including 5 bed, 5 bath, 4 car gar, office/den, walk in wine cellar w/Subzero fridge by Cellar, casita, courtyard, & sport court. Resort-style backyard with amazing views is private & features a negative edge heated pool, spa, & outdoor kitchen area. The indoors are just as inviting with a recently remodeled chef's kitchen equipped with Wolf & Subzero appliances, steam oven, and other high-end finishes. A dream home on a quiet & private cul-de-sac just minutes from the 101, DC Ranch Marketplace, Kierland, & all the Valley has to offer.
10767 E Hedgehog Place
Scottsdale, AZ 85262
$3,499,000
5
Beds
7
Baths
4,967
SqFt
Status
Active
MLS #
6775591
Property Type
Single Family Residence
Price Type
--
Must see this custom-built beauty located in the desirable, gated community of Pinnacle Canyon. With the Modern Mélange concept that blends elegant architecture along with natural beauty; this home offers the best indoor/outdoor living with multiple bi-fold doors leading to the front & back patios with fireplaces, overhead heaters, entertainment areas & more. Enjoy your private backyard oasis with a negative edge pool & spa, outdoor kitchen, extensive landscaping w/ lighting & majestic views of the mountains & boulders. Inside offers an upgraded Kitchen w/ Alder cabinets, Cambria countertops, thermidor appliances, along with an over-sized Island. The primary bedroom has a stone wall w/ fire place, his & her walk-in closets, French doors to patio & oak floors. All Guest rooms are ensuites Arizona living at its best!
9533 E Rising Sun Drive
Scottsdale, AZ 85262
$3,499,000
4
Beds
3.5
Baths
5,169
SqFt
Status
Active
MLS #
6783994
Property Type
Single Family Residence
Price Type
--
Experience the ultimate in luxury and privacy in this meticulously crafted Old World masterpiece. Step into this custom estate with an expansive open floor plan showcasing a magnificent beamed Great Room with a wet bar, an elegant formal dining room, and a chef's kitchen outfitted with top-of-the-line cabinetry, premium appliances, and a private wine cellar. The luxurious primary suite is a sanctuary with an opulent bath complex, while two spacious guest suites and a den with rich hardwood flooring provide ample comfort and style. Outdoors, indulge in approximately 1,500 square feet of covered patio space, featuring an outdoor kitchen, a cozy fireplace, and a breathtaking saltwater pool and spa. This residence offers a harmonious blend of elegance and comfort. Golf Membership Available!
5501 E Rockridge Road
Phoenix, AZ 85018
$3,497,000
3
Beds
3.5
Baths
4,008
SqFt
Status
Active Under Contract
MLS #
6783016
Property Type
Single Family Residence
Price Type
--
Nestled on the prestigious slopes of Camelback Mountain, this newly remodeled architectural masterpiece by renowned Phoenix architect George Christensen offers the perfect blend of modern luxury and natural beauty. With breathtaking panoramic views of both the glittering city skyline and the iconic Camelback Mountain, this home provides an unparalleled living experience in one of Arizona's most sought-after locations. Every inch of this meticulously designed home has been carefully curated to offer the utmost in comfort, style, and functionality. Expansive floor-to-ceiling windows bathe the interiors in natural light, framing the spectacular views from nearly every room. The open-concept living spaces feature sleek, contemporary finishes, soaring ceilings, and high-end materials that seamlessly merge with the surrounding desert landscape. The gourmet kitchen is a chef's dream, equipped with top-of-the-line appliances, custom cabinetry, and an oversized island perfect for entertaining. The spacious living and dining areas open to a stunning outdoor terrace, offering a serene oasis in the heart of the city. The master suite is a private sanctuary with sweeping views, a luxurious en-suite bath, and a spacious walk-in closet. Additional bedrooms and a separate flex office with its own roll up door provide ample space for work, family and visitors, each offering its own views of the desert landscape. Designed to embrace the beauty of its surroundings, this home incorporates sustainable, energy-efficient features while maintaining a timeless aesthetic. The lush desert landscape and expertly crafted outdoor spaces provide the ideal backdrop for both intimate gatherings and large-scale entertaining. Whether you're seeking tranquility, adventure, or simply a place to enjoy the best of Phoenix living, this exceptional home on Camelback Mountain offers it all. Don't miss your chance to own a piece of architectural history in one of Arizona's most prestigious locations.
4615 N 61st Place
Scottsdale, AZ 85251
$3,495,000
3
Beds
3.5
Baths
3,609
SqFt
Status
Active
MLS #
6762363
Property Type
Single Family Residence
Price Type
--
This is an exciting opportunity to live in a gated, resort-style community with views of Camelback Mountain and access to The Phoenician®. The new subdivision offers an impressive lifestyle ideal for empty nesters or someone interested in a second home in the spectacular Valley of the Sun. This is one of only two opportunities remaining that is sure to move quickly. It has 3 bedrooms, 3.5 bathrooms, and 3,980 square feet of luxurious, state of the art, contemporary living space. There's also a fabulous guest casita and gorgeous finished landscaping. The setting is stunning, the amenities are outstanding, and the design is exceptional. This home is move-in ready.
32614 N 227th Avenue
Wittmann, AZ 85361
$3,495,000
2
Beds
2
Baths
2,150
SqFt
Status
Active
MLS #
6786141
Property Type
Single Family Residence
Price Type
--
2024 Custom 2 bd 2 bath w/office Custom 1 bd 1 bath casita 2 Entryways 3 arena's -1 full size roping/ barrel racing arena w/covered boxes 1 breakaway arena 1 cutting arena 2 Priefert roping chute 2 covered sitting areas over looking arenas 2 private wells 1 domestic 10,000 gal storage tank 1000 gal pressure tank Non exempt irrigation well w/82 acre feet of grandfather water rights Water truck fill station Hay Barn w/air conditioned shop loft for office space & possible guest quarters Small hay barn 12 stall mare motel w/grooming bay & tack room covered wash rack 6 covered pens with automatic waters Semi Loading chute & cattle processing area 2- 5 acre pastures w/2 corrals for gathering cattle orchard on auto drip system 14 RV plug-ins w/water RV dump 700 amp APS service NO FLOOD NO FLY
30 E Glendale Avenue
Phoenix, AZ 85020
$3,495,000
6
Beds
4.5
Baths
6,564
SqFt
Status
Active
MLS #
6720436
Property Type
Single Family Residence
Price Type
--
Lined Palm trees frame this Spanish Colonial Estate and embrace this luxurious villa settled on over an acre in the heart of North Central Phoenix, within walking distance to Murphy Bridle Path. Filtered through oak and orchid trees, light flickers over the elegant central courtyard with a decorative fountain, lush landscape, and a paved roundabout. The formal entry includes beautiful hardwood floors and a gorgeous chandelier, as dramatic 20-foot beamed ceilings, crown molding, embellished corbels and hardwood floors move you through 4,290 sq ft of living space, seamlessly. A jaw-dropping dining room with a coffered ceiling opens up to an incredible terrace. Beautiful newer 2000+sqft ft guest house included in overall square footage..guest house can easily be connected to main house. Continuing with gathering spaces, the impressive kitchen with vaulted ceilings, high-end stainless-steel appliances, a 20-foot skylight, built-in China cabinets, and a spacious eat-in area create a warm and impressive atmosphere. The primary bedroom, on the main level, features a large walk-in closet, complemented by solid core doors and a glorious ensuite bath. Add another bedroom on the main level and two upstairs, both opening onto private balconies. Outside, the back patio features a fireplace, and overlooks a sprawling backyard enveloped by majestic mature trees and boasts an opulent pool adorned with a captivating water feature, fountain, and spa. Adding to this estate's allure is an incredible 2274 square ft guest house, showcasing 22-foot vaulted ceilings, a spacious family room, two bedrooms, eat-in kitchen, and entertainment area. This invigorating dwelling is move-in-ready, offering a blend of elegance, comfort, and perfection.