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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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.
12251 E Cortez Drive
Scottsdale, AZ 85259
$2,685,000
5
Beds
3.5
Baths
3,985
SqFt
Status
Active
MLS #
6744218
Property Type
Single Family Residence
Price Type
--
Welcome to this breathtaking custom home situated on a cul-de-sac in the gated community of Sonoran Arroyos. No expense or detail was spared in this home. Gourmet kitchen with double islands, gas cooktop and stainless steel appliances. This home has everything you need to enjoy indoor/outdoor living. The backyard is a true resort-style oasis, new L-shaped fire pit with grilling and dining area,. oversized side burner, refrigerator, new water features, gas fire pit and two large copper fire bowls added to the ambiance. Master suite has a newly designed walk-in closet with four electric rods for your convenience, fireplace and access to your oasis. Master bathroom has a walk-in shower, soaking tub, fireplace and two vanities. There's so much to this home. You have to see it!
1 Sky Ridge Court
Sedona, AZ 86336
$2,680,000
4
Beds
5
Baths
2,995
SqFt
Status
Active
MLS #
6595623
Property Type
Single Family Residence
Price Type
--
Spectacular to be built custom home in Sky Ridge Estates, Sedona's newest subdivision in the heart of Sedona. Beautiful panoramic view hilltop lot on the ridge with North/East/South facing panoramic views. Four en-suite masters. Short walk to the new town square, city park and museums, Tlaquepaque, high-end shopping and dining, Los Abrigados Spa resort, restaurants, gym, lit tennis courts, and Oak Creek front park available for membership. Presently in design(rendering and floor plans only) stage to break ground after completion of roads and utilities currently underway ). Guest houses may be able to be added. This home will break ground after the completion of the roads and utilities presently underway. A guest house may be added. The home can be completed in 12-18 months. The subdivision, with its approved status, is making significant progress with the ongoing construction of roads and utilities. The private club and gates are currently being submitted to the city for approval. A buyer-builder program is in place with renowned architectural firm and builder PHX Architecture phxarch.dot com Erik B. Peterson and Galloway Custom Homes Paul Galloway, Gallowayrealty.dot com. Call for details. The owner/seller is an AZ active licensed real estate broker, general contractor and developer.
22902 N Dobson Road
Scottsdale, AZ 85255
$2,675,000
4
Beds
3.5
Baths
4,470
SqFt
Status
Active Under Contract
MLS #
6769177
Property Type
Single Family Residence
Price Type
--
Stunning Custom Home in Pinnacle Peak Vistas - A North Scottsdale Gem! Discover exceptional pride of ownership in this meticulously maintained 4-bedroom, 3.5-bath residence, set on a sprawling 1.2-acre lot with breathtaking city lights and McDowell Mountain views. From the moment you enter, expansive windows showcase panoramic desert vistas, enveloping you in a serene oasis. This special lot provides an added layer of privacy, enhancing the home's allure. Designed for the ultimate Arizona lifestyle, the outdoor living area boasts an infinity-edge pool, outdoor kitchen, gas fireplace, and shaded patios—all against the stunning backdrop of the McDowell Mountains. New artificial turf complements the mature desert landscaping, creating a beautiful, low-maintenance sanctuary. Inside, the gourmet kitchen is a chef's dream, featuring custom cabinetry, granite countertops, Dacor/Sub-Zero appliances, a wine refrigerator, and a warming drawerperfect for hosting while taking in sweeping valley views. The primary suite is a luxurious retreat with a steam shower, jetted tub, custom cabinetry, and an oversized walk-in closet. Additional features include a 3-car garage with epoxy flooring, abundant storage, and a private circular driveway for easy access. With no HOA dues and unparalleled privacy, this home offers the epitome of desert luxury living.
5745 E Azure Hills Drive
Cave Creek, AZ 85331
$2,675,000
4
Beds
6
Baths
4,700
SqFt
Status
Active
MLS #
6763770
Property Type
Single Family Residence
Price Type
--
Cave Creek Charm - Santa Fe style home and what a location! 3.9 acres, over 4500 plus sq ft, incl casita/guest home. So many recent upgrades, over $300,000 plus. It's a must see! This home is spectacular and attention to detail shows around every corner. Remember to look up (height of ceilings from 16', 14', 12') and all custom designed differently from wood, beams, vegas and copper. Entire home tile floors and designs in each room that all tie together yet are unique to that room. Outside patios wrap around back of homes and master has a privacy patio complete with 1 of the 5 frplcs, 3 water heaters, no HOA. Views in every direction - and not just views - spectacular. From Black Mountain cascading into the back yard, 7 sisters to the west, north is Elephant Butte and MORE... and east is the Continentals/Gold mountain. All visible, just come experience this very special home! Upgrades include: Paver driveway extending all the way to back gate/casita Landscaping around perimeter of home 80' plus 3 new HVAC's Newer Roof (10 year warranty completed June 2024) 4 bath remodels Many new exterior doors Many new Anderson windows Brand new Sub Zero New Cove Dishwasher and Copper Sink (to match copper ceiling!) Exercise Room Remodel including addition of Infrared Sauna Replaced washer dryer in main home Lower grill area updated with Coyote electric smoker/grill Upper Turbo gas grill area added for convenience Raised exterior yard walls for privacy New custom metal front door New front metal gate for front door entrance New cabinets in garage New epoxy garage floor
12424 E Poinsettia Drive
Scottsdale, AZ 85259
$2,675,000
5
Beds
4.5
Baths
4,137
SqFt
Status
Active
MLS #
6744270
Property Type
Single Family Residence
Price Type
--
Nestled near the McDowell Mountains in North Scottsdale lies the opulent Southwestern home of your dreams. Beyond the private gates, a community of seven custom homes awaits, untouched by the market for the past eight years. Adorned with charming blue shutters, driveway pavers, natural stone accents, and a meticulously landscaped desert-themed front yard, this residence is a sight to behold. Step through the solid wood front doors to be greeted by the grand bay windows in the formal living room, revealing a serene sanctuary with remarkable architecture and exposed beams throughout. The outdoor oasis boasts a sparkling pool, spa, and a covered patio equipped with a mister system. The interior features five generously sized bedrooms with 4.5 elegant travertine bathrooms. The primary bedroom includes a lavish custom closet, while flagstone and engineered hardwood floors, welcoming fireplaces, and top-of-the-line appliances grace the entire home. Relax with a glass of wine on the rooftop terrace offering breathtaking panoramic sunset views. This exclusive opportunity provides unmatched seclusion while being conveniently located within walking distance to the local schools and a short drive to esteemed medical centers, upscale dining, shopping destinations, golf courses, and stunning mountain vistas.
34755 N 51st Street
Cave Creek, AZ 85331
$2,656,830
2
Beds
1
Bath
893
SqFt
Status
Active
MLS #
6699438
Property Type
Single Family Residence
Price Type
--
WOW! A massive 10,000-square-foot shop with an RV garage and extensive parking is ideal for a car collector or anyone looking for a high-quality building and location for their hobby. Nestled on a vast 2.5-acre lot, this 2-bedroom property captivates with its stone-accented facade and desert landscape. Inside, tile flooring and a welcoming great room create the perfect setting for entertainment. Kitchen is equipped with wood cabinets, crown molding, stainless steel appliances, granite counters, recessed lighting, a pantry, and a breakfast bar peninsula. Both bedrooms offer comfortable sleeping quarters and ample closet space. Backyard includes a patio. Enjoy stunning mountain views and easy access to nearby restaurants, shopping, and more. Don't miss out!
3617 N Granite Ridge Road
Buckeye, AZ 85396
$2,650,000
5
Beds
5.5
Baths
5,317
SqFt
Status
Active
MLS #
6753527
Property Type
Single Family Residence
Price Type
--
Location, location, location! Stunning residence on the Signature 12th Hole of The Verrado Golf Club! The lot next to the home is available for purchase for added value or privacy. The 3-car garage with an extra long driveway lets you bring all your toys, trucks, and cars. Impressive interior showcases the finest quality materials and impeccable craftsmanship throughout. Roman pillars, wood and stone floors, Canterra Stone fireplaces in the right areas, multiple French doors, a high beamed ceiling in the family room, and surround sound speakers. Chef's kitchen has granite counters, wood cabinets with crown moulding, a walk-in pantry, a big island with a breakfast bar, a stylish backsplash, and high-end stainless steel appliances such as wall ovens. Lot next to property available. Wet bar, wine cellar, and butler's pantry for convenience. Large bedrooms, walk-in closets, office/library, and upscale bathrooms. Each room is a work of art! Grand main retreat has a fireplace, backyard access, and a spa-like ensuite boasting a jetted tub, double vanities, and a big tiled shower with dual shower heads. The entertainer's backyard allows you to enjoy the impressive mountain and golf course views from every angle! Covered patio, blue pool, relaxing spa, built-in BBQ, fireplace, dog run, exterior shower, above-ground hot tub, and putting green complete the backyard. Words don't make it justice!
3703 N Kachina Lane
Scottsdale, AZ 85251
$2,650,000
4
Beds
4.5
Baths
3,359
SqFt
Status
Active
MLS #
6749727
Property Type
Single Family Residence
Price Type
--
6 WEEKS from COMPLETION. This stunning new build offers luxury living in one of Scottsdale's most sought-after neighborhoods. Spanning 3,359 square feet, this single-family home sits on a spacious 12,000-square-foot lot, providing plenty of room for both indoor and outdoor enjoyment. With 4 bedrooms and 5 bathrooms, the home is thoughtfully designed for comfort and privacy, making it perfect for families or entertaining guests. The modern finishes throughout the home include distinctive cabinetry, sleek and stylish, offering ample storage and a contemporary aesthetic. Top-of-the-line amenities feature Trane A/C units for efficient climate control, and a premium Pella door and window package, ensuring energy efficiency and elegant design. An expansive covered patio offers ideal outdoor living space, perfect for year-round shade and comfort. The brand new pool and spa add a touch of resort-style luxury to your everyday life, making this home a perfect blend of modern design and high-end finishes. Don't miss your chance to own this exceptional property in Scottsdale.
9879 E Broken Spur Drive
Scottsdale, AZ 85262
$2,650,000
3
Beds
3
Baths
2,960
SqFt
Status
Active
MLS #
6765693
Property Type
Single Family Residence
Price Type
--
Coveted front row Lookout Ridge home. Golf Membership available from seller. Offering breathtaking views of the first hole of the Renegade golf course, Pinnacle Peak, McDowell Mountains and glittering city lights views. Impeccably maintained, this south facing gem offers a large expanded patio to capture all of the terrific views. Extraordinary indoor living with large windows, 3 suites, 3 baths and an open floor plan. Spectacular remodeled kitchen, newer appliances, no carpet except for guest room. Easy walk to the new Renegade Clubhouse, golf practice park and the world-class Sonoran Fitness Center. The home is offered turn key minus some exclusions from the seller. Truly a must see.
3810 E Devonshire Avenue
Phoenix, AZ 85018
$2,650,000
4
Beds
3.5
Baths
3,653
SqFt
Status
Active
MLS #
6758748
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning 4-bedroom, 3.5-bathroom contemporary home in Phoenix! With 3,653 sq. ft. of beautifully designed living space, this home blends modern elegance with comfortable living. As you approach, you'll be greeted by the sleek desert front landscaping, featuring synthetic grass and a yard watering system for easy maintenance. Step inside to find a spacious interior with a mix of wood, stone, and carpet flooring, highlighted by a grand staircase, vaulted ceilings that enhance the open feel of the home. The living room boasts a cozy fireplace, perfect for relaxing evenings and open the beautiful accordion doors to create an outside entertaining space. The chef's kitchen is a standout feature, equipped with a walk-in pantry, kitchen island, and granite countertops. The eat-in kitchen layout is perfect for casual dining, with ample space for family and friends. The master suite, located upstairs, offers a full bathroom with a separate shower and tub, double sinks, large, custom walk-in closet and mountain views that can be enjoyed from the comfort of your private balcony. An additional bedroom downstairs provides flexibility for guests or a home office, and the upstairs laundry adds convenience to daily living. The outdoor space is an entertainer's dream, featuring several patios, built-in outdoor kitchen area with BBQ and refrigerator, multiple fire features and a sparkling private pool with 3 custom spillways and multi-color LED lighting. The backyard offers desert landscaping with synthetic grass, all maintained with a yard watering system, creating a serene and low-maintenance oasis. With an RV gate and parking, 2 garage spaces, and 2 additional slab parking spots, there's plenty of room for all your vehicles and toys. This home underwent extensive updates in 2018, including the flooring, wiring, plumbing, heating, cooling, roof, kitchen, bathrooms, and pool, ensuring a move-in-ready experience. 3rd bay garage was converted to an air-conditioned workout room. Located in a desirable community with mountain views, this property offers the best of luxury living in Phoenix.
160 Creek Mesa Drive
Sedona, AZ 86336
$2,650,000
3
Beds
5
Baths
4,525
SqFt
Status
Active
MLS #
6673024
Property Type
Single Family Residence
Price Type
--
This stunning property in Sedona, Arizona, is a unique opportunity to own a piece of paradise in the highly desired Creek Mesa subdivision. The home was designed for a single owner who is an art enthusiast, to showcase their art and to enjoy the breathtaking views with privacy. Now, this hidden gem can be yours. The magic starts as you drive up from the private gate to your spacious paved driveway. You will see how the home blends into the natural flow of the mountain. As you lift your sight, you will be amazed by the majestic mountain views. As you walk into the bridge of greenery, you will hear the serene sound of running water in the delicately crafted courtyard. You will be greeted by a majestic architectural accent cylinder that serves as a centerpiece for art and warmth The house offers a cathedral ceiling and floor-to-ceiling panoramic windows that not only provide natural light but also offer incredible views of Mountain Wilson. The split floor plan has an organic flow to enjoy the outdoors from every space in the home. The house offers many outdoor sitting areas, including a balcony and a fabulous spa just outside of the main bedroom. There is also a below-grade entertainment game room, a steam bathroom, and a wet bar, that opens to the outdoor kitchen and to the negative edge pool with a water feature. The pool is prepared to be used every day of the year, since it has a pool water heater heated by solar panels. It also has a convenient cover to use it at your convenience and keep it free from debris. Your next home is adjacent to the community park and Oak Creek, meaning that only steps away from your home you can have a picnic with the multiple bbq pits and tables, as well as a sitting area to relax while listening to the running water. If you are a trail enthusiast, Creek Mesa Subdivision has a well-maintained trail that leads to the swimming hole along with scenic views. This subdivision is a gated community with luxury homes that offer mountain and red rock views. This house is a perfect blend of comfort, luxury, and nature.
