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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7120 E Kierland Boulevard Unit 1203
Scottsdale, AZ 85254
$2,695,000
2
Beds
2.5
Baths
2,000
SqFt
Status
Active
MLS #
6725497
Property Type
Apartment
Price Type
--
Enjoy stunning MOUNTAIN VIEWS in this 2 bed, 2.5 bath penthouse unit at Optima Kierland. With 2000 sqft of luxurious space, unit offers 2 master suites, den, spacious kitchen, family & dining rooms. Top notch finishes include wide plank oak flooring, 10 ft ceilings, quartz counters, Bosch appliances, & Wolf induction cooktop. Tons of nature light inside with floor to ceiling windows & 400 sqft of outdoor space. Optima Kierland offers the ultimate in urban luxury lifestyle living within walking distance to shops & dining at Kierland Commons & Scottsdale Quarter. Amenities include basketball, electronic driving range, exercise facility, rooftop pool, concierge, & more. Unit comes complete with 2 parking spaces & storage unit. Come join the Optima Kierland club & lifestyle!
20647 E Pummelos Road
Queen Creek, AZ 85142
$2,695,000
5
Beds
4.5
Baths
4,889
SqFt
Status
Active
MLS #
6755396
Property Type
Single Family Residence
Price Type
--
Looking for a home better than the model?! THIS IS IT. Boasting over $350,000 in interior upgrades + $850,000 in exterior upgrades above and beyond what the builder offers, this stunning home will blow you away. Located in the luxury-GATED community of Bridle Ranch, this one-of-a-kind property checks all of your boxes for luxury living: 5 car garage, detached guesthouse, attached casita, game room, office, Sub Zero & Wolf Appliances, weight room, pool, spa, firepit, garden, and the list goes on and on. Additionally, the property can be sold completely turnkey, fully furnished, allowing you to move in with ease. Please check out the ''Documents'' section to see a list of all the upgrades to this property as the list is extensive. Inside, the floorplan provides an expansive great room as the central hub, with the kids' wing and parents' wing split on different sides of the house. The kitchen overlooks the great room and includes unique Calcutta Gold marble countertops, top of the line Wolf/Sub Zero appliance set including a Scotsman ice maker which is definitely needed living in the desert! Did I mention the house was extended 4 ft in the back making the play room and primary suite much larger? The primary bedroom provides a peaceful retreat, and the gorgeous primary bathroom with a gorgeous shower and an enormous wrap around walk-in closet that also connects directly to the laundry room for added convenience. The laundry room is one of a kind for the floor plan as the owners expanded it and fully customized it complete with a built-in side-by-side stainless steel freezer/refrigerator. On the east wing of the house, you will have two spacious bedrooms connected by Jack and Jill bathroom, and a large playroom perfect for the kids having friends over. As you exit to the backyard through your luxury pocket door, you are set up perfectly for Arizona living with the perfect indoor/outdoor blended experience. Designed by Creative Environments, the owners spared no expense in the backyard. They had a custom-built detached guesthouse including an extended two car garage bay with access directly into it from the back of your lot, perfect for storing trailers, ATV's, four wheelers, etc. The other side is a fully functioning weightroom complete with a full bathroom! The north side of this guesthouse is overlooks the pool and backyard, is shaded, and a great place to entertain with a kitchen and TV. A gorgeous fire pit right off of the spa makes for a perfect area of relaxation in your private backyard oasis as you soak in the mountain views to the south. The pool and spa both are heated. And don't forget about the garden flanking both sides of the Guesthouse for the garden enthusiasts out there! This home has so many upgrades and is truly one of a kind! Located in a welcoming community, this offers easy access to local amenities while providing the perfect blend of indoor and outdoor living. Don't miss the opportunity to own this incredible property!
5101 N Casa Blanca Drive Unit 235
Paradise Valley, AZ 85253
$2,695,000
3
Beds
2.5
Baths
2,130
SqFt
Status
Active
MLS #
6754435
Property Type
Townhouse
Price Type
--
In the exclusive enclave of Casa Blanca stands a truly exceptional residence unlike any other! This single-level home underwent a comprehensive transformation, where it was taken down to its shell and meticulously redesigned. Now boasting an exquisite great room that seamlessly flows onto a patio with views of Camelback Mountain, this home is a testament to luxury living. The attention to detail is unparalleled, featuring gorgeous finishes such as limestone flooring, elegant steel doors and windows and an incredible primary closet. Salvaged antique doors from a historic Masonic temple, sleek black-lacquered doors and trim, and sterling silver door hardware further enhance the allure of this special home.
9216 E Sky Line Drive
Scottsdale, AZ 85262
$2,695,000
5
Beds
4.5
Baths
4,700
SqFt
Status
Active
MLS #
6775457
Property Type
Single Family Residence
Price Type
--
Golf membership to Desert Mountain available. This custom contemporary designed by award winning architect Tor Barstad has 5 bedrooms, 4.5 baths including casita, and sits on a private golf course lot In the village of Gamble Quail. The spacious and light filled living and dining rooms open up to a covered patio with pool, BBQ with outdoor dining. The Primary Suite features a fireplace, his and her bathrooms and walk-in closets. The enormous kitchen features knotty alder cabinets, fireplace, granite countertops and a view of Black Mountain. Separate casita for extra private guest visits! Oversized three car garage for all your outdoor adventures. Village of Gambel Quail location offers convenience to Desert Mountain's main gate for quick access to offsite shopping & dining, as well as community amenities including golf, biking and hiking trails, Ranch amenities and The Sonoran Fitness Center with spa, pickleball, tennis, swimming. fitness facilities and MUCH more.
8337 E La Senda Drive
Scottsdale, AZ 85255
$2,695,000
3
Beds
3
Baths
3,666
SqFt
Status
Active
MLS #
6771184
Property Type
Single Family Residence
Price Type
--
Situated on a premier golf course lot with much desired southern exposure, this superb, remodeled with an addition immaculate 3 bedroom, 3 bath plus office home is located in coveted Pinnacle Peak Country Club Estates. From the moment you drive up to the beautifully landscaped entrance with circular drive, 3 car side entrance garage and private gated courtyard you will want to call this home. In addition to the perfect location this exceptional property is the perfect blend of cozy charm and space for large gatherings offering a comfortable Living room with fireplace vaulted ceiling and dining area and the spacious Family Room which is open to the kitchen is surrounded by windows and boasts a fireplace, dining area and access to the backyard covered patio. Fully equipped kitchen features granite counters, double ovens, SS appliances and pantry. Primary bedroom has access to the backyard and primary bathroom has double sinks and walk-in shower. Guest bedroom has access to it's own bathroom and third bedroom currently being used as a den has access to the hall bath. The large backyard with covered patio and built-in-BBQ is great for entertaining or quietly enjoying the golf course and mountain views. And all is conveniently located close to shopping, dining, golf and the loop 101.
4929 Stargazer Drive
Happy Jack, AZ 86024
$2,695,000
4
Beds
6
Baths
5,251
SqFt
Status
Active
MLS #
6699883
Property Type
Single Family Residence
Price Type
--
This STUNNING mountain estate sprawls across 9.36 acres of tranquil, picturesque land nestled within the lush forests of Timber Ridge Ranch in Happy Jack, AZ. Comprising a magnificent 4051 SqFt. Pioneer custom log home as the main residence, alongside a spacious 4-car garage and a charming 2-bedroom guest house spanning 1200 SqFt, this property offers unparalleled luxury and serenity. Stepping through the custom 4x8 cedar front door marks the beginning of an extraordinary journey through this rare log home. Massive, handcrafted log columns and beams adorn the open and welcoming great room, showcasing the unique character of the logs with scars from actual forest fires and lightning strikes... Towering with a 32-foot cathedral ceiling, the floor-to-ceiling field stone fireplace make a majestic focal point, while a wall of triple pane glass offers breathtaking views of the rear patio, pond, and stream. The seamless open floor plan effortlessly blends the kitchen and bar area, featuring distinctive granite counters, custom Starmark kitchen cabinets, and top-of-the-line stainless steel appliances including Wolf and Subzero. Upstairs, a spacious game room and office area with a full bath and steam mist shower provide additional entertainment and relaxation space. Across the 6-inch concrete driveway stands a 1400 Sq Ft. enclosed 4-car garage with a half bath, utility sink, and plenty of storage! The 1200 SqFt guest suite above the garage boasts 2 bedrooms, a full bathroom, kitchenette and plenty of living space- making it perfect for entertaining out of town guests, gaining additional rental income, or creating your own unique space such as an office or gym! All buildings boast durable metal roofs, and Timber Ridge Ranch is an esteemed subdivision renowned for its pride of ownership. With all power lines underground and a nearby fire district station featuring 24-7 paramedics and a med-evac heliport within a mile, this property ensures both luxury and safety.
29630 N 107th Place
Scottsdale, AZ 85262
$2,695,000
4
Beds
5
Baths
4,551
SqFt
Status
Active
MLS #
6776498
Property Type
Single Family Residence
Price Type
--
True to design Arizona architecture with expansive views of Pinnacle Peak and Troon Mountain on an acre lot in Troon North's premier gated community of Talus. A custom designed open concept floor plan of the kitchen and family room allows plenty of space for entertaining and a wall of glass that opens up provides indoor/outdoor living spaces to enjoy comfortable and casual upscale living. The kitchen brings the outdoors in with natural light, a large island to gather around, large walk in pantry, stainless appliances, knotty alder cabinets and large breakfast area overlooking the backyard. A round dining room takes in the beauty of the natural desert landscape in the front of the house with a sit up bar that looks out to the living area and a separate shower, and a large closet. A split floor plan all on one level with two ample size guest bedrooms and ensuite baths and large laundry room with a window. The third bedroom is currently an office and has access to an adjacent full bath. The backyard makes it easy to relax with complete privacy, a heated negative edge pool, outdoor fireplace, built-in barbeque, natural desert landscape and southern exposure to capture the unobstructed mountain views. Walking distance to the Brown Ranch Trailhead and in close proximity to prestigious golf clubs and fine dining establishments. Embrace Arizona Living at its finest.
5652 N Scottsdale Road
Paradise Valley, AZ 85253
$2,695,000
2
Beds
3.5
Baths
2,625
SqFt
Status
Active
MLS #
6748560
Property Type
Townhouse
Price Type
--
This property is situated in the highly acclaimed townhome development of Scottsdale North. It is located a short distance to Fashion Square Mall and Old Scottsdale. The development was placed on the National Register of Historic Places by the US Department of the Interior in 2023. The interior boasts 10 ft ceilings with a great room and fireplace. There are two master bedrooms one with a sitting area and the other with fireplace. The Office has a full ensuite bathroom, closet and could function as a third bedroom. (see the floor plan under the Document tab). The covered central courtyard with fountain leads to a built-in BBQ area and quaint lemon arbor. Ideal for outdoor entertaining. Wheelchair accessible from garage. Furniture can be purchased by separate agreement.
6050 W Saskan Ranch Circle
Flagstaff, AZ 86001
$2,695,000
6
Beds
6
Baths
6,250
SqFt
Status
Active
MLS #
6764733
Property Type
Single Family Residence
Price Type
--
High country getaway on nearly 5 acres in Saskan Ranch, perfect for indoor and outdoor living and entertaining. Main house has 3 levels with 2 bedrooms on each, all but one are en suites. Downstairs features a bonus room, theatre room and kitchenette. Outdoors there is a sports court (pickleball, volleyball,basketball). Over the garage there is a bunk room and bath that could also be used as an office. Huge RV garage for outdoor toys, large enough for a boat or multiple vehicles. AC, kitchen appliances, 1 water heater and carpet in above garage bunk room all replaced in last 2 years. Waste system is a Wisconsin Mound.
25973 N 88th Way
Scottsdale, AZ 85255
$2,695,000
4
Beds
3.5
Baths
3,915
SqFt
Status
Active
MLS #
6739001
Property Type
Single Family Residence
Price Type
--
$100,000 PRICE REDUCTION, motivated seller. Best opportunity to live in an incredible neighborhood in North Scottsdale! Welcome to your dream home nestled in the private and prestigious community of Pinnacle Peak Place. This luxury modern residence boasts 3,915 square feet of thoughtfully designed living space, 4 spacious bedrooms, a den, and 3.5 elegant bathrooms. The stunning kitchen is a chef's paradise, featuring a large island, exquisite marble countertops and backsplash, high-end stainless steel Bosch appliances, and sleek white high-gloss cabinets. Tucked next to the kitchen is the butler's pantry and wet bar, making this perfect for entertaining. The kitchen and living room offer breathtaking views of the resort-like backyard and majestic mountains through two large sliding glass doors. The expansive primary bedroom is a true retreat, complete with a large ensuite bathroom that features dual vanities with quartz countertops and a luxurious Victoria & Albert Napoli tub. Step outside through the two massive trim-fold doors into your personal oasis where the private backyard surrounded by lush greenery and beautiful landscaping that feels like a five-star resort. Enjoy the warmth of the gas fire pits, relax in the built-in hot tub, or take a dip in the heated pool. The formal dining room is perfect for hosting dinner parties or having a private dinner while looking into the formal living room with a cozy fireplace. Gorgeous tile and wood-look flooring are found throughout and the abundant natural light enhances the home's luxury modern aesthetic. This home is a testament to the art of luxury living. Nestled on an oversized lot in a cul-de-sac, this is an opportunity to own a piece of paradise in in the comfort of your own home. It has been meticulously maintained and offers unparalleled style.
12832 E Sorrel Lane
Scottsdale, AZ 85259
$2,695,000
4
Beds
5.5
Baths
5,655
SqFt
Status
Active
MLS #
6695884
Property Type
Single Family Residence
Price Type
--
The Diamond House. Expansive McDowell Mountain views. Remodeled in 2020 this well cared for home sits on over a half-acre, in the exclusive gated community of Los Diamantes. Chef's kitchen with 6-burner Thermador cooktop, center island and walk-in pantry. Great room, formal dining and dedicated office. Bonus game room with wet bar and stunning glass wine display. Primary suite with sitting area, spa bath and walk-in closet. Sport court, covered patio and built-in outdoor BBQ. This home was designed for entertaining. Pebble-Tec pool and spa, firepit, putting green and multiple sitting areas. Mature trees, citrus, and lush vegetation. Community tennis and playground. Close to hiking/biking trails, golfing, MAYO, Honor Health, BASIS, and top-rated Scottsdale schools. Contemporary AZ Living.
37200 N Cave Creek Road Unit 2124
Scottsdale, AZ 85262
$2,690,000
3
Beds
3.5
Baths
2,721
SqFt
Status
Active
MLS #
6676629
Property Type
Townhouse
Price Type
--
This exquisite upper-level corner residence is meticulously designed to integrate the beauty of the outdoors with the comfort of the indoors. Awe-inspiring views of the surroundings are a highlight, made even more spectacular by the stackable sliding doors that seamlessly connect the large outdoor patio to the cozy interior. Overlooking the 3rd fairway and surrounded by mountains, this space is perfect for both entertaining guests and enjoying moments of solitude. Conveniently located on the right side of the building, the residence is equipped with an elevator, ensuring easy access from the garage to your living space.