Buy a Home NOW with a 3% Down Payment or LESS!

Again… You Do Not Need 20% Down to Buy NOW! | Simplifying The Market

A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today.

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 40% of consumers think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO® Scores 

The survey also revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in February had a credit score of 752, while FHA mortgages closed with a score of 686. The average across all loans closed in February was 720. The chart below shows the distribution of FICO® Scores for all loans approved in February.

Again… You Do Not Need 20% Down to Buy NOW! | Simplifying The Market

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, let’s sit down to help you understand your true options.  Give me a call – J.P. Cook – 602-320-4253.

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37200 N Cave Creek Road Unit 1025 Scottsdale, AZ 85262

$3,516,036 - 4Br/5Ba -  for Sale in Desert Mountain, Scottsdale
Open House
$3,516,036
4 Beds
4.5 Baths
3,951 SqFt
Status Active
MLS # 6716303
Property Type Single Family Residence
Price Type --
**MEMBERSHIP AVAILABLE - CONTACT FOR DETAILS** WELCOME TO THE VILLAGE AT DESERT MOUNTAIN! BUILT BY THE AWARD-WINNING CULLUM HOMES, THESE DISTINCTIVE ''LOCK-N-LEAVE'' RESIDENCES ON ALL 33 LOTS EITHER BACK UP TO THE 13TH HOLE OF THE RENEGADE GOLF COURSE, OR THE 10TH AND 11TH HOLE OF THE SEVEN DESERT MOUNTAIN® GOLF COURSE. INTRODUCING THE OCOTILLO PLUS CASITA FLOORPLAN, A SINGLE-LEVEL HOME WHICH FEATURES 4 BEDROOMS AND 4.5 BATHS. OPEN GREAT ROOM WITH A MODERN LINEAR-STYLE BUILT-IN FIREPLACE WITH AN OPTION FOR INDOOR/OUTDOOR GLASS WALL. FORMAL DINING AREA SEPARATING THE KITCHEN AND GREAT ROOM AREAS. KITCHEN AREA WILL HAVE A LARGE CENTER ISLAND WITH EAT-UP BAR SEATING, ALL STAINLESS-STEEL TOP-OF-THE-LINE WOLF SUB ZERO APPLIANCE PACKAGE, WALK -IN PANTRY. OWNERS SUITE WITH A SEPARATE EXIT OUT TO THE BACK YARD, DUAL SINK VANITIES IN THE BATH, SEPARATE SHOWER AND SOAKING TUB, WALK-IN CLOSET WITH BUILT-INS. ADDITIONAL BEDROOM WITH EN-SUITE BATH AND WALK-IN CLOSET. LARGE LAUNDRY ROOM WITH EXTRA STORAGE SPACE AND LAUNDRY TUB AND A POWDER ROOM. PLENTY OF OPTIONS TO CUSTOMIZE THIS HOME ARE AVAILABLE, INCLUDING A BASEMENT WHERE YOU CAN HAVE A COMPLETE ENTERTAINMENT ZONE! HOMES ARE EQUIPPED WITH THE LATEST SMART-HOME TECHNOLOGY WITH FULL HOUSE AUTOMATION AVAILABLE. ENERGY EFFICIENT WITH THE CLEAR AIR EFFECT VRV SYSTEM, FOR THAT CLEAN, QUIET AND COMFORTABLE FEEL. FRONT YARD LANDSCAPING INCLUDED. HOMEOWNERS AT SEVEN DESERT MOUNTAIN WILL BECOME EITHER A LIFESTYLE OR EQUITY GOLF MEMBER AT DESERT MOUNTAIN, GAINING ACCESS TO ITS WORLD-CLASS AMENITIES INCLUDING THE NEWLY RENOVATED SONORAN SPA AND FITNESS CENTER, TENNIS COMPLEX, HIKING AND BIKING TRAILS, SIX ADDITIONAL PRIVATE GOLF COURSE, LUXURIOUS CLUBHOUSES AND RESTAURANTS. COMMUNITY IS GUARD-GATED 24/7 FOR THAT LOCK-N-LEAVE LIFESTYLE ONE SO DESIRES.

11841 N 65th Place Scottsdale, AZ 85254

$3,510,750
5 Beds
5.5 Baths
5,071 SqFt
Status Active
MLS # 6719609
Property Type Single Family Residence
Price Type --
NEW from Thomas James Homes with an opportunity to select some interior finishes during early stages of construction! This house has a great address, great schools and great views. Sitting in the highly desirable Scottsdale neighborhood, this beautiful 5 bedroom, 5.5 bathroom is the definition of exceptional design. Wide plank wood flooring, decorative ceiling and wall treatments, including beams and wood paneling, impressive custom lighting, outstanding millwork, stone and tile accents, a gorgeous floor to ceiling fireplace, shaker cabinetry and a 4-car garage are just a sampling of the outstanding finishes going into the home. The large single story open concept floorplan is expertly crafted with a large interior courtyard leading to the home's entrance. Inside you'll find a large great room and luxury kitchen joined by a large quartz countertop island. The grand suite hosts a large his and hers walk-in closet and a spa like bathroom with a freestanding soaking tub and walk-in shower. The secondary bedrooms throughout the home have en-suite bathrooms. In addition to the bedrooms, you'll find ample added living space with a private office and a kitchen prep area adjoining a bonus room and a game room. Home will feature fully landscaped front and back yards with a pool and spa, providing great Arizona outdoor living space. Expected completion in Summer of 2025.

487 Loy Lane Sedona, AZ 86336

$3,500,000
3 Beds
4 Baths
3,828 SqFt
Status Active
MLS # 6647459
Property Type Single Family Residence
Price Type --
Imagine the best forever views of the most spectacular and most photographed Red Rock Vistas in all of Sedona! Enjoy glowing sunsets of Cathedral Rock Vista and expansive Forest Service views to the East from this top of the hill location, and gorgeous greenbelt views of Oak Creek to the West. Hear sounds of the meandering creek from your front patio. New luxury construction home with modern open floor plan, 3828 SF, 3 bedrooms/4 baths plus recreation room located in the prestigious gated subdivision of Sedona Ranch on Oak Creek. Private estate size parcel of 2.54 acres adjacent to Forest Service land. Hike out from your doorstep to 100s of miles of trails in Turkey Creek area, Red Rock State Park, Crescent Moon Ranch and Cathedral Rock. Home to be completed around August 1, 2024.

20445 E Sunset Court Queen Creek, AZ 85142

$3,500,000
4 Beds
4.5 Baths
5,737 SqFt
Status Active
MLS # 6771442
Property Type Single Family Residence
Price Type --
20445 E Sunset Ct, Queen Creek, AZ 85142 - The Pecans' Finest Gem Step into unparalleled luxury at this 5,737 sqft masterpiece, nestled in The Pecans—a premier, gated community in the East Valley, renowned for its grand estate homes and lush pecan groves. Remodeled by a top-tier custom home builder celebrated for impeccable craftsmanship in Paradise Valley and Arcadia, this residence offers an elevated living experience. This 4-bedroom, 4.5-bath estate is a flawless blend of sophistication and innovation. The heart of the home is its newly reimagined kitchen, a chef's dream with custom in-set cabinetry, Wolf and Subzero appliances, and designer lighting that enhances the airy, neutral palette throughout. Every room exudes refined elegance, and the layout is meticulously crafted to balance open living spaces with private retreats. The reimagined backyard is a showstopper. The pool was thoughtfully relocated to align with expansive glass sliders in the living room, offering breathtaking views and seamless indoor-outdoor living. The outdoor space now feels like a private resort, complete with modernized landscaping, and luxurious entertainment areas perfect for any gathering. No detail was overlooked; no expense spared. This is a must-see for discerning buyers looking to own a piece of luxury in one of Queen Creek's most exclusive enclaves.

11970 S Blue Bell Road Mayer, AZ 86333

$3,500,000
3 Beds
2 Baths
1,406 SqFt
Status Active
MLS # 6628769
Property Type Single Family Residence
Price Type --
There are four wells located on the property The site has one main house and four smaller homes. (1400sqft Main House) Over 60,000sqft of covered horse facilities. Includes an enormous indoor covered show ring 36,000sqft, an outdoorshow/roping ring, two paddocks for horses, a hot walker and open land available for growing feed for crops In Mayer, the summers are hot, dry, and mostly clear and the winters are cold and partly cloudy. Over the course of the year, temperatures vary from 31°F to 92°F and are rarely below 23°F or above 99°F. 70 miles north of Phoenix

7444 Caldwell Canyon Road Snowflake, AZ 85937

$3,500,000
10 Beds
9 Baths
14,537 SqFt
Status Active
MLS # 6710527
Property Type Single Family Residence
Price Type --
Luxurious Resort Estate with Unrivaled Features and Mesmerizing Canyon Sunset Views in Arizona's White Mountains. Nestled on 10 picturesque acres with breathtaking canyon views and a serene creek running below, this extraordinary Tuscany-style estate offers unparalleled elegance and comfort. As you approach, the white-fenced, tree-lined driveway draws you in. Inside, soaring 14-foot ceilings create a sense of grandeur throughout the home. Upon entering, you are greeted by a formal entry that sets the tone for the entire residence. To your left, a dedicated office space is perfect for remote work or study. The formal living and dining rooms are designed for entertaining, offering elegant spaces to host gatherings. The heart of the home is the gourmet kitchen, featuring an expansive island, top-of-the-line appliances, a cozy dining nook, and an adjacent living room making it ideal for intimate family gatherings. The oversized master suite is a true retreat, with direct access to the back patio, perfect for enjoying the outdoors and taking in the serene views. In the west wing, you'll find four additional main-level bedrooms, each with its own bathroom - three are ensuite, and one features a Jack and Jill. The main level also boasts a spacious bonus/game room for recreation and relaxation, and a large, functional laundry room to meet all your household needs. Descend to the basement, where 12-foot ceilings give a spacious feel, revealing a large game room, a museum-style trophy room, and a theater room complete with tiered seating. This level also includes two additional bedrooms, a home gym that can easily be converted into another bedroom, plus two bathrooms, offering ample space for guests or extended family. Outside, the property transforms into an outdoor paradise. Mature cottonwoods line the beautifully maintained grounds. Indulge in the exclusive 2-acre private fishing and swimming pond boasting a diverse array of fish species, expansive sandy beachfront, a secluded dock, and twin cascading waterfalls, ensuring an unforgettable experience for all. The covered, lighted entertainment pavilion is perfect for hosting outdoor gatherings. The main house and guest house share a spacious, lush green courtyard, connected by a covered walkway and featuring a stunning outdoor stacked stone fireplace. The breathtaking canyon views are the perfect backdrop as you walk across the courtyard to the guest house, which includes a large kitchen with an open living and dining area, a master suite with private courtyard access, a double vanity, custom shower, and a safe step walk-in tub. The second bedroom in the guest house is oversized, with ample room for multiple beds. Additionally, a versatile room with high ceilings and large windows is designed as a pool room but can be adapted for various uses, such as a hobby or craft room, pickleball court, indoor gaming area, event hall, or sunroom. The main house 4 car garage, and guest house 2 car garage connect the two residences, providing ample space for vehicles and storage. This property offers endless possibilities for luxury living, entertaining, and outdoor enjoyment. Don't miss this rare opportunity to own a truly exceptional estate. Contact us today to set up your private tour and experience this incredible property for yourself! Available for negotiation oustide of escrow: Equestrian enthusiasts will appreciate the barn with three stables, tack storage, and an upper loft that can be rented out or used as a caretaker's cabin. Barn +Studio - 759 livable sq ft, tack, storage, stables, covered parking & 1.07 acres Additional acreage available outside of escrow: ***Parcel A- 3 acres, parcel B- 1 acre, parcel C- 2.51 Acres. Ask listing agent for more details. Property and included buildings is Parcel E. Note: Parcel E - 10.23 acres (less small cabin and acreage in the canyon that will be surveyed and split prior to close of escrow).

1187 S Val Vista Drive Gilbert, AZ 85296

$3,500,000
4 Beds
2.5 Baths
2,685 SqFt
Status Active
MLS # 6729558
Property Type Single Family Residence
Price Type --
Rare Acreage in Gilbert. Nearly 5 acres. Existing home is approximately 2700 sqft. Or build your own dream home in the heart of Gilbert on this irrigated horse property. Looking for an investment property - Many Development Opportunities are available on these 3 parcels currently zoned R43. Adjoining nearly 5 acre parcel may also be available for those seeking larger acreage. Don't miss this rare opportunity to live on or develop roughly 5-10 acres in a highly desired Gilbert location - just 1.5 miles to Loop 202 or 4 miles to US 60.

6116 N Las Brisas Drive Paradise Valley, AZ 85253

$3,500,000
3 Beds
3.5 Baths
3,049 SqFt
Status Active
MLS # 6762291
Property Type Single Family Residence
Price Type --
Stunner at Mountain Shadows! This 1 level on-trend newer home is situated in the highly desired guard gated enclave called Villas at Mountain Shadows! This sensational home features amazing views of Camelback Mountain from your great room & back patio entertaining area! Enjoy the privacy & security of Mountain Shadows guard gating in addition to the resort's full amenities/facilities: including the 4500 SF comprehensive gym, 2 heated resort pools, golf, tennis, spa & more! This over the top 1 level home features stunning limestone floors throughout this spacious open floor plan that is centered on the chef's kitchen w/ enormous quartz waterfall edge island open to the spacious dining room & palatial great room w/ floor to ceiling retractable walls of glass for the ultimate seamless indoor/outdoor living experience! The new owners will love the light, bright & airy feel of this open concept great room combination featuring the sensational 12 ft. high ceilings! The dream chef's kitchen features a top of the line Sub-Zero/Wolf/Asko appliance package & custom cabinetry! Enjoy your new Sub-Zero refrigerator/freezer in the kitchen & the wine tower in the bar area! In addition all chef's will delight in using the multiple Wolf ovens & gas range! The primary bedroom features gorgeous Camelback Mtn views through the large picture window (featuring beautiful plantation shutters!). The dream primary bathroom features highly upgraded marble finishes, custom cabinetry w/ double sink vanity, separate soak tub & a palatial walk-in shower! 2 other secondary bedrooms are both ensuite featuring top of the line finishes & spacious closets! Don't forget to see both (2) walk in pantries when you view this fabulous 1 level resort style home in person! Entertain your family & friends in style enjoying the Camelback Mtn. views & built in BBQ center!

7801 N Sherri Lane Paradise Valley, AZ 85253

$3,500,000
4 Beds
5.5 Baths
6,173 SqFt
Status Active
MLS # 6781385
Property Type Single Family Residence
Price Type --
Nestled in the desirable Tatum Canyon of Paradise Valley, this exceptional home spans over 6,174 square feet on a private acre corner lot, offering sweeping mountain views in every direction. Designed for sophisticated living, this residence blends elegance with practicality.On entering, one is greeted by a light-filled great room with soaring ceilings, glass walls, and sliding doors that create a seamless flow between the indoor and outdoor spaces. A meticulously landscaped backyard offers the ultimate retreat with a stunning pool, water features, spa, outdoor BBQ, ramada, a sport court ideal for pickleball, and beautiful lawns — all set against the backdrop of the canyon's natural beauty. The home boasts four spacious bedrooms, a dedicated office The primary suite, positioned in its own wing, is a luxurious sanctuary with a lavish bath, a 360-degree mirrored dressing room, and a cozy sitting area complete with fireplace. Designed with entertaining in mind, the chef's kitchen is a culinary masterpiece, equipped with Viking appliances, concrete countertops, and a professional-grade wine cellar. An 8-foot butcher-block island, floor-to-ceiling stone fireplace, and open-concept design make the kitchen and family room perfect for both intimate and grand gatherings. Additional spaces include a formal dining room with a dry bar, family room, and a 25-foot game room with a wet bar. Each of the four bedrooms is en-suite, with a guest suite for ultimate privacy. An elegant living room along with a library/office with a loft, complement the living areas. Previously owned by a sports star's family, this one-of-a-kind home offers an unparalleled opportunity to own a private, gated resort with dramatic views, luxurious amenities, and the perfect blend of comfort and elegance. Conveniently located with easy access to premier shopping, dining, hiking, and biking trails, this home is just a short drive from Phoenix Sky Harbor and Scottsdale airports, making it the ideal combination of luxury and convenience.

3428 S 159th Street Gilbert, AZ 85297

$3,500,000
5 Beds
5.5 Baths
10,171 SqFt
Status Active
MLS # 6712293
Property Type Single Family Residence
Price Type --
Experience livable luxury in this stunning iconic colonial style home ideally located across the street from the LDS Temple in the heart of Gilbert. The architectural masterpiece combines historic elegance with modern amenities, offering an unmatched lifestyle. Designed for both comfort and entertainment, this nearly 11,000 square foot home features a beautiful front porch and balcony straight out of the movies, grand foyer, 20 ft. vaulted ceilings, extensive molding and trim work, expansive living and dining areas, a huge entertainer's kitchen with hidden walk-in pantry complete with a commercial grade walk-in refrigerator, indoor pro racquetball court, theater room and serene library. Majestic kitchen features a two tier island with breakfast bar and large dining area with the temple as a backdrop out every window. The home boasts 5 spacious bedrooms and 5.5 bathrooms, extended 3 car garage on one side of the house and an additional 2 car garage on the apartment side of the home. Enter the master bedroom through a large sitting room with fireplace and front porch access. Large master has built in bookshelves, bay window with temple views, and large ensuite bathroom complete with his and hers sinks, expansive walk in shower/steamer and walk through master closet. Relax in the upstairs loft, on the balcony or with your favorite movie in the theater. Large laundry room is equipped with 2 sets of washer/dryer, center island surrounded by cabinets and more storage. The separate apartment is perfect for guests, in-laws or rental income. RV gate with RV pad. 32kW paid off solar system with battery backup. With no HOA restrictions, you have the freedom to truly make this home your own. Embrace the perfect blend of historic charm and contemporary luxury in a location that offers top-rated schools, easy access to the 202 freeway, Mercy Hospital, San Tan Mall, dining, entertainment, shopping and community events. Too much to list here, this home is a must see.

7780 E Vaquero Drive Scottsdale, AZ 85258

$3,500,000
7 Beds
9 Baths
8,460 SqFt
Status Active Under Contract
MLS # 6762399
Property Type Single Family Residence
Price Type --
Welcome home to Gainey Ranch - A guard gated oasis of lush vegetation, convenient shopping, a variety of dining, 27 holes of golf, and active lifestyle amenities such as an indoor gym, sports courts, and a lap pool, all at your doorstep. This gated estate is perfectly situated along the Arroyo golf course on an acre lot, with panoramic golf course and Mummy mountain views. Perfect for car collectors or large families, this home features an 8-car garage (all w/ room for lifts), an attached guest casita with 3 bedrooms and kitchen, as well as a kids wing with 3 ensuite bedrooms, ideal for multi generational living. As you enter the home, a wide wall of floor to ceiling windows draws your eye out over the sparkling blue pool to gently rolling emerald fairways. The expansive layout with bright, airy rooms, offers a variety of living and entertaining options: from the intimate private office, to separate wings for children and/or guests, to the sprawling formal living area, to the cozy open floor family/breakfast room and kitchen. Enjoy the primary rooms' elevated, unobstructed view of the luscious golf course and rugged mountains. The primary suite encompasses a large bedroom, sitting area, wet bar, laundry room as well as His & Hers closets, His & Hers bathrooms, His & Hers showers, AND His & Hers vanities. With easy access to premier amenities, matched with a unique yet highly desired layout - this spacious home embodies Scottsdales vibrant lifestyle full of luxury and leisure.

27111 N 150th Street Scottsdale, AZ 85262

$3,500,000
5 Beds
4.5 Baths
5,513 SqFt
Status Active Under Contract
MLS # 6749282
Property Type Single Family Residence
Price Type --
This fully fenced 5 acre Equestrian Estate is a timeless work of architectural art; a labor of love in every detail. Offering both privacy and sophistication, it is set within a breathtaking desert landscape. This custom residence, tastefully designed by architect Bryan Rains, is impeccably maintained & features a split floor plan with high-end finishes throughout. The Resort-style backyard takes entertaining to a whole new level, allowing for year-round enjoyment of Arizona's natural beauty. The equestrian facilities include a 4-stall barn w/outdoor runs & turnouts with potential for further expansion. Enjoy direct access to extensive trail riding, including McDowell Mountain Regional Park, while remaining conveniently close to fine dining, shopping, & the vibrant Scottsdale amenities.

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