Planning to Get a Mortgage in 2017? 4 Reasons Why It’s Time to Start Paying Down Other Debts Now

Buying a home is an ideal investment for many people because not only is it a place that belongs to them, it can also be very beneficial financially. While you may be strongly considering buying a home for these reasons, it’s also important to be in good financial health so that your ideal home purchase is within reach. If you’re currently perusing the market for prospects, here are some reasons you should pay down debt before taking the leap into home ownership.

Good Credit History

The amount of your debt load and whether or not you’re paying off your minimum monthly payments has a considerable impact on your mortgage approval, so ensuring that you have good credit history going into the process is important. If you’ve had hiccups with your credit, make sure you go through your credit report prior to submitting your application to determine where you’re at.

Lowering Your Debt-to-Income Ratio

Whether or not you’ve heard the term, your debt-to-income ratio (DTI) has a significant impact on how much house you can afford. Made up of the amount of your monthly debt payment and current house payment, your DTI should be below a certain percentage as this will enable you to afford a higher home payment each month.

Shifting Interest Rates

Getting a mortgage is one thing, but interest rates add more to the monthly amount you’ll owe. A fixed-rate mortgage can seem like a good idea, but if interest rates are low you may end up paying more than you would on a variable rate, which can be hard to predict. As interest rates are a part of home ownership, having lower debt will enable you to deal with these additional costs.

Finding The Right Home

Putting your money into a home can be one of the best purchases you’ll make, but if you’re unable to afford the home you love, it can be a disappointing fact to face. While there are no assurances that paying down debt will enable you to afford your dream home, it can go a long way towards giving you more options that will fit your budget.

Buying a home can be a money saver in the long run, but if you’re struggling to keep up with your debt payments buying into the market can be more of a burden than anything else. If you’re currently paying down debt and considering a home purchase, give me a call and let me help start the planning process – J.P. Cook – 602-320-4253.

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2549 W Shinnecock Way Anthem, AZ 85086

$1,495,000

3 Beds

3.5 Baths

3,736 SqFt

Status Active

MLS # 6782138

Property Type Single Family Residence

Price Type --

STUNNING CITY LIGHT, SUNSET & MOUNTAIN VIEWS!! This updated Castile floor plan offers 3 en suite bedrooms, den & 3.5 baths. Remodeled Chef's Kitchen includes huge island, granite counters, stainless KitchenAid appliances including gas cooktop, wall ovens & built-in refrigerator. Kitchen opens to spacious family room. Primary suite includes sitting area, private patio, dual vanities, oversized tub, walk-thru shower & double walk-in closets. Backyard features new limestone pavers, synthetic turf, spa with ramada & elevated sitting area!

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38424 N 69th Street Cave Creek, AZ 85331

$1,495,000

4 Beds

4 Baths

3,205 SqFt

Status Active Under Contract

MLS # 6769291

Property Type Single Family Residence

Price Type --

DON'T MISS THIS STUNNING & IMMACULATE CUSTOM HOME IN TOWN OF CAVE CREEK! STUNNING & IMMACULATE 4 BD/4 BATH/3+ CAR GARAGE IN GREAT LOCATION OF CAVE CREEK! SOARING CEILINGS!GREAT ROOM FLOORPLAN! ALDER WOOD CABINETS & DOORS;FIREPLACE IN GR;GRANITE COUNTERTOPS;CHEF'S KITCHEN WITH SS APPLIANCES!PANTRY;EAT UP BAR;EAT IN KITCHEN & FORMAL DR W/BUILT IN BEAUTIFUL HUTCH.SPRAWLING PRIMARY BR /SPLIT FLOORPLAN ~ ALL ONE LEVEL. ON DEMAND HOT WATER;UNBEATABLE MOUNTAIN & SUNSET VIEWS! BACK PATIO IS PERFECT FOR ENTERTAINMENT;BUILT IN BBQ;HEATED SPOOL;JACUZZI HOT TUB; HUGE COVERED PATIO W/TV~SITTING AREAS. LUSH LANDSCAPING!FRUIT TREES!OVERSIZED 3CG W/BUILTINS & SHOP AREA- CLOSE TO TOWN FOR ALL THE AMMENITIES YOU COULD WISH FOR!

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1424 E Arabian Court Gilbert, AZ 85296

$1,495,000

6 Beds

4.5 Baths

4,639 SqFt

Status Active

MLS # 6776166

Property Type Single Family Residence

Price Type --

Exceptional multi gen living in central Gilbert, on a culdesac! Single level luxury home on almost an acre with guest house, pool w/ rock waterfall, additional spa/pool, gas fire pit, sport court, and more. 3 car garage w epoxy floor. PLUS, detached 2+ car garage / shop & FULL 950 sq. ft. casita (incl. in sq ft). Pavered walkway / side drive. Double front doors open to formal living room & separate dining room with plantation shutters. 10 ft ceilings & crown molding throughout. Dream kitchen with stainless steel appliances, double ovens, trash compactor, oversized island, walk-in pantry, breakfast room and white raised cabinets. Separate bar, complete with wine refrigerator. Master suite w/ French doors + private exit. Master bath has brand new tiled shower, quartz counters & Jacuzzi tub. Newly remodeled secondary bathrooms have never been lived in! Secondary baths also include quartz countertops w/ double sinks. Use front bedroom as a home office or a bedroom. Middle bedrooms complete with desks, cabinets and closet built-ins. Back bedroom functions as either a home theater (screen & projector convey) or bedroom. RV gate is electric / solar powered. Newer solar tubes provide additional interior light. Guest house / casita / pool house was built in 2017 and includes: cork flooring throughout, granite countertops, a murphy bed / shelving in the living room, built-in desk in master bedroom, tankless hot water heater and full laundry room (washer / dryer convey). Beautiful full-wall slider leads to pool. Horse privileges allow for up to 3 horses to be kept on property and / or house up to 2 horses at the community stables (at 435 S. Granite St.) for a small fee. Unique equestrian community in the heart of Gilbert, complete with bridle paths for walking and / or riding horses. LOCATION, LOCATION, LOCATION!!!

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10959 E Kora Lane Scottsdale, AZ 85255

$1,495,000

4 Beds

2.5 Baths

2,787 SqFt

Status Active

MLS # 6720593

Property Type Single Family Residence

Price Type --

This single level home is located within private guard gated Cimarron Hills. Its split floor plan includes a separate living and dining room and family room that opens to the center island kitchen w/Alder cabinets. The primary suite includes a nice bath with separate ceramic tiled shower, tub, double sinks and a walk-in closet. The home includes plantation shutters and a computer work or study station outside the guest bedrooms. The covered patio overlooks the low maintenance yard with a heated pool and spa. The 3 car garage includes built-in storage cabinets.

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3513 N Pinto Lane Scottsdale, AZ 85251

$1,495,000

3 Beds

3 Baths

2,511 SqFt

Status Active

MLS # 6769877

Property Type Single Family Residence

Price Type --

If it's lifestyle you are looking for, this is the place for you! This exquisitely remodeled home in Scottsdale is walking distance or a short bike ride from all the best shops and entertainment in Old Town Scottsdale and all that Arcadia has to offer! Attention to detail is the hallmark of this gorgeous 3 bedroom/3 bath home, and at over 2500 feet, it lives like a resort. This chef's kitchen is not only beautiful but functional and features quartz countertops, stainless steel appliances, and a large kitchen island where everyone gathers. The luxurious primary suite is an ideal retreat with a large walk-in closet and bathroom that feels like your own private spa featuring double vanities, free-standing tub and dual shower heads. The bonus family room with a built-in bar makes for great entertaining/tv space and opens to the private oasis in back! The resort-style backyard with built-in barbeque, sparkling heated pool and hot tub make for the perfect gathering space, ideal for entertaining and enjoying Arizona's sunny weather. Find yourself living your best life in this immaculate Scottsdale jewel!

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7475 E Timberlane Court Scottsdale, AZ 85258

$1,495,000

3 Beds

2.5 Baths

2,502 SqFt

Status Active

MLS # 6783120

Property Type Single Family Residence

Price Type --

Designed to the Nines in the Eastwood enclave of Gainey Ranch! Step through the beautiful IRON GLASS front door to discover a COMPLETE REMODEL THAT BECKONS WARMTH AND LUXURY. A gorgeous kitchen features a stunning textural backsplash, wood accents, large entertainer's island, soft-close SOLLID Cabinetry and quartzite counters. Multiple living spaces marry inclusivity while offering the right amount of separation between rooms. Details envelop this home through designer lighting, spa-like baths with marble tile and statement-making hardware such as crystal doorknobs throughout. Highly upgraded flooring, windows, window treatments and doors accentuate this knockout turnkey home that will appeal to those looking at lock and leaves or the 3 C's schools. Gainey Ranch, and the surrounding McCormick Ranch area, offers convenient and fabulous restaurants, parks, and shopping. Come experience this exceptional home in this serene neighborhood.

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7016 E Grand View Lane Gold Canyon, AZ 85119

$1,495,000

4 Beds

3.5 Baths

3,821 SqFt

Status Active

MLS # 6723961

Property Type Single Family Residence

Price Type --

MOUNTAIN VIEWS in this desert paradise custom built for the entertainer, cook, or outdoor enthusiast (a quick hike to the Broadway Trailhead)! Enjoy rooftop sunsets, relax in your soaking tub next to the two-way fireplace, take a shower in the moonlight, or kick back with a cocktail from the built in wet bar. Guests will love the huge casita with full bath or secondary owner suite, and the yard is built to enjoy w/ outdoor fireplace and 5 covered patios! Gourmet kitchen w/ 2 dishwashers, 2 sinks, Wolf Gas French Cooktop, 2 wall ovens, Sub Zero Frig & Freezer Drawers, Built in Coffee / Espresso, cast iron farmhouse sink, & massive island. Southwest style handmade Mana Pottery tiles, Travertine, 2x6 construction, spray foam attic, fresh exterior paint! Huge lot with room to customize!

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1410 W Sandpiper Drive Gilbert, AZ 85233

$1,495,000

5 Beds

3.5 Baths

4,172 SqFt

Status Active

MLS # 6733283

Property Type Single Family Residence

Price Type --

Stunning luxury lakefront home with private dock! SELLER FINANCING AVAILABLE. AVAILABLE FURNISHED! This property offers luxury living with breathtaking views. Nestled on a private cul-de-sac lot, this expansive residence boasts nearly 4,200 sq. ft and is one of the largest lake frontage lots in the area. Additionally, you'll find an extended patio, large private balcony, expansive primary suite, pool with spa, gourmet kitchen, huge windows, and breathtaking vaulted ceilings. All of this while being just minutes from Downtown Gilbert - The Heritage District. This is a must see as homes like this do not come on the market often!

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3009 S Tourmaline Drive Unit 22 Flagstaff, AZ 86005

$1,495,000

3 Beds

3.5 Baths

1,891 SqFt

Status Active

MLS # 6742480

Property Type Apartment

Price Type --

Experience luxury living in the prestigious Pine Canyon Golf Community with this stunning single-level condo. This highly upgraded new build boasts 2 bedrooms and 2.5 bathrooms, accompanied by a charming 1-bedroom, 1-bathroom casita, perfect for guests, office or private retreats. The home is exquisitely upgraded throughout, offering elegance and modern conveniences at every turn. Enjoy serene, filtered views of the driving range from the beautifully landscaped outdoor spaces, perfect for relaxation or entertaining. The attached 2-car garage provides ample storage and convenience. Nestled within Pine Canyon's sought-after community, this residence is a rare gem that combines comfort, style, and a prime location. See attached upgrade list.

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3181 E Berridge Lane Phoenix, AZ 85016

$1,495,000

3 Beds

3.5 Baths

2,745 SqFt

Status Active

MLS # 6762515

Property Type Single Family Residence

Price Type --

Experience luxury resort living at its finest at the exclusive 24/7 guard-gated community of Biltmore Greens! This 3BR/3.5 BA w/2 car garage 2745 sqft split floorplan home is adorned w/soaring ceilings & wood beam accents which provide an appealing flow from the formal living & dining area to the kitchen & family room. Duel Primary suites w/walk in closets. Remodeled kitchen with granite & stainless-steel appliances. Remodeled Baths. Most of the rooms wrap around a meticulously manicured patio w/fountain & spa. Take the spiral staircase to the observation deck where there are breathtaking 360-degree views of the city & mountains. Ideal for entertaining, this lock & leave house is in a Prime location just minutes from the Historic Biltmore Hotel, Golf Courses, Shopping & 5-star restaurants

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34508 N 99th Way Scottsdale, AZ 85262

$1,495,000

5 Beds

3.5 Baths

3,712 SqFt

Status Active

MLS # 6699305

Property Type Single Family Residence

Price Type --

A Contemporary Home in the Prestigious Gated Legend Trail. Located on the 13th hole of the Golf Course. While sunning at the new pool and spa with water feature or just taking in the sunset views, this home is a stunner! The high ceilings and large expansive floor to ceiling windows capture the gorgeous views at the living room, great room and owner's suite; all overlooking the backyard and perfect for entertaining. This spacious home with private owner's suite and spa-like bath with floating lit vanity cabinetry, beautifully tiled glass shower, separate free standing soaking tub and 2 walk-in closets is fabulous! Also, an additional ensuite bedroom can easily transform into a casita. Legend Trails is among Top 100 Facilities by Golf Magazine/Best Places to Play by Golf Digest Magazine

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1822 E Washington Avenue Gilbert, AZ 85234

$1,495,000

4 Beds

3 Baths

3,596 SqFt

Status Active Under Contract

MLS # 6765461

Property Type Single Family Residence

Price Type --

Prepare to be amazed! This beautifully FULLY remodeled home is located in one of Gilbert's top desirable neighborhoods-Circle G Ranches. This home is situated on a corner lot with nearly an acre of irrigated land. Whether you are dreaming of building a casita, a shop, a place to store all your toys, or even a sports court, with no HOA the possibilities are endless. Do you love to have space to entertain? If so, this homes layout is for you! Offering a family room and not just one, but two living rooms! And if this home couldn't get any better, it is located just minutes from downtown Gilbert!

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