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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6816 N 177th Place Waddell, AZ 85355

$1,375,000

6 Beds

4.5 Baths

3,587 SqFt

Status Active

MLS # 6735754

Property Type Single Family Residence

Price Type --

Brand new home on an oversized lot! NO HOA. This home is situated on just over an acre and includes flood irrigation for the backyard. The home has an attached Casita off the front with its own exterior access and creates the perfect spot to work from home or host guests and loved ones. The backyard is fully fenced with block walls and ready for your dream backyard! Other homes for sale on the same street as well. You do not want to miss this!

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2449 E Southwood Road San Tan Valley, AZ 85140

$1,375,000

5 Beds

3 Baths

3,228 SqFt

Status Active

MLS # 6730008

Property Type Single Family Residence

Price Type --

This country home w/ a white picket fence, wrap-around porch & on 3.3 FLOOD IRRIGATED ACRES is a classic vision of rural life. Complete horse training facility offering; 18 horse stalls w/ auto waterers & fans. The huge arena is a rare find; 200' x 300', LED lights & excellent footing. It has a convenient cattle alleyway to easily load cattle into the roping chute. More features; hay barn, silo, large wash rack w/ dry well for drainage, 2 turnouts w/ shades, cattle pens & 4 RV hookups. The detached garage / workshop offers two roll-up doors, space for a tack room, feed or tractors. The home features five true bedrooms, including two owner suites—one on each level. The upstairs master suite includes a jetted tub, walk-in shower & two walk-in closets. **Click 'More' tab** The Great Room is highlighted by a beautiful stone fireplace. The kitchen features white cabinets, granite countertops, breakfast bar island & stainless steel appliances. Huge laundry room w/ cabinets & a mudroom, a desirable feature for the outdoor lifestyle. Countless hours have been spent in this arena & barn dedicated to rigorous training and practice. Both horses and their riders transformed into champions, achieving remarkable success in competitions. Now, it's your turn to take ownership of this home and utilize this exceptional arena and facility to shape the next generation of champions.

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6717 E Brilliant Sky Drive Scottsdale, AZ 85266

$1,375,000

3 Beds

3 Baths

2,030 SqFt

Status Active

MLS # 6750276

Property Type Single Family Residence

Price Type --

Public Remarks:Welcome to your beautiful desert dream home, freshly remodeled & radiating luxury at every turn! From the incredible Wolf & Sub-Zero Kitchen to the stunning & warm fireplace to the ultimate getaway Master Retreat! This completely reimagined designer home in North Scottsdale's prestigious guard gated Terravita community is the epitome of elegant, carefree living. Imagine starting each day in this exquisite, move-in-ready gem, perfectly tailored for downsizing, upgrading, or as is seasonal escape. Every corner of this desert retreat has been thoughtfully curated to blend sophisticated style with everyday comfort. Experience the beauty of Arizona living with magnificent sunsets & a lush private backyard oasis, all within a low-maintenance, resort-style setting.

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3007 E Arrow Point Payson, AZ 85541

$1,375,000

3 Beds

3 Baths

2,458 SqFt

Status Active

MLS # 6774758

Property Type Single Family Residence

Price Type --

Discover the perfect blend of luxury and nature in this exquisite rustic home located in The Rim Golf Club. Featuring striking exterior stonework, this property boasts AMAZING VIEWS of the breathtaking Granite Dells Mountains, providing a serene backdrop for everyday living. Step inside to find wood floors that flow throughout most of the main level, complemented by beamed ceilings that enhance the home's charm. The beautifully landscaped yard invites you to unwind in peace, while the gorgeous kitchen is a chef's dream, equipped with a 6-burner Wolf gas range, a Subzero refrigerator, granite countertops, and a butler's pantry complete with a beverage cooler. The master suite offers a private retreat with a separate door leading to the back deck, perfect for morning coffee or evening stargazing. The luxurious primary bathroom features a stand-alone tub and a spacious walk-in shower, providing a spa-like experience at home. This is not just a home; it's a lifestyle. Don't miss your chance to experience the tranquility and beauty this property has to offer!

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10042 S Greenfield Road Gilbert, AZ 85234

$1,375,000

6 Beds

4 Baths

5,210 SqFt

Status Active

MLS # 6775238

Property Type Single Family Residence

Price Type --

Here is your opportunity to OWN ACREAGE in the heart of Gilbert, AZ with NO HOA restrictions! This expansive property offers endless possibilities for creating your dream homestead. With 6 bedrooms, 4 bathrooms, and a 3-car garage, there's plenty of room for everyone. The huge kitchen features an oversized island with seating for 8, perfect for family gatherings or entertaining. The fully finished basement boasts 9-foot ceilings, 3 oversized bedrooms with large walk-in closets, a spacious game room, and a wet bar—an ideal space for fun and relaxation. The attached casita provides extra flexibility with its own private bathroom and a single-car garage, perfect for guests or extended family. (MORE) Outdoors, there's ample room to build a shop, detached accessory building, or guest house. A separated pasture with flood irrigation offers plenty of space for animals, making this property ideal for those looking to enjoy a bit of country living while still being close to all the conveniences of Gilbert.

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3248 Rising Sun Ridge Wickenburg, AZ 85390

$1,375,000

3 Beds

3.5 Baths

2,771 SqFt

Status Active

MLS # 6778003

Property Type Single Family Residence

Price Type --

Discover elevated living in this beautifully upgraded Latigo home in Wickenburg Ranch. With 2,771 sqft of thoughtfully designed space, this residence offers a tranquil retreat. The open floor plan fills the living spaces with natural light. The gourmet kitchen features a gas range, wine cooler & ample counter space ideal for entertaining. The primary suite features a spa like bathroom with a freestanding bathtub, glass enclosed shower with multiple heads & his and hers closets. The detached casita offers its own full bathroom providing a perfect space for guests. Outside the patio features a pool & spa with mountain views. Experience resort-style living w/ golf dining & social amenities. Don't miss this exceptional desert retreat!

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2863 N Boldt Drive Flagstaff, AZ 86001

$1,375,000

5 Beds

3 Baths

2,993 SqFt

Status Active

MLS # 6780659

Property Type Single Family Residence

Price Type --

Welcome to a stunning custom home located in Linwood Heights. Situated on over an acre, this property provides both privacy and tranquility. Wake up each morning to breathtaking San Francisco Peak views from the primary suite, complete with a cozy fireplace, wet bar, and private sitting area—a true retreat within the home. The primary bath has a soaking tub and separate shower for ultimate relaxation. With an open, airy layout, and multiple deck access points, this home offers a blend of sophistication and comfort. The kitchen has granite countertops, stainless-steel appliances, and beautiful custom cabinetry. 3 car garage! As a Linwood Heights homeowner, you'll have exclusive access to the 180-acre Jesse Gregg Park and its amenities. Just minutes to AZ Snowbowl, and Downtown!

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4539 N 65th Street Scottsdale, AZ 85251

$1,375,000

2 Beds

2 Baths

1,715 SqFt

Status Active

MLS # 6783635

Property Type Single Family Residence

Price Type --

HIGH END REMODEL in a centrally located gated community adjacent to the famed Phoenician Resort. This single level, NO INTERIOR STEPS home sits on the 4th fairway of the Phoenician Resort golf course. Exquisitely remodeled, this move in ready home features a gourmet kitchen with high end Wolf and SubZero appliances, Waterworks bathroom fixtures, White Oak hardwood floors throughout and large, bi-folding doors that open to the patio and golf course views. The home includes two master bedrooms in addition to a separate office or formal dining room. Walk or ride to nearby Fashion Square and the Scottsdale Waterfont for high end shopping and dining. Enjoy a short, 15 minute drive to Sky Harbor Airport. A perfect year-round or lock and leave home in an exclusive guard gated community. Don't miss your opportunity to own a part of the Phoenician lifestyle.

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17775 E Veit Springs Drive Rio Verde, AZ 85263

$1,375,000

3 Beds

3.5 Baths

2,681 SqFt

Status Active

MLS # 6760283

Property Type Single Family Residence

Price Type --

Absolutely stunning newly built SHEA HOMES property with endless on-trend features located in the 55+ gated Trilogy at Verde River community. This massive 9567 sqft golf course lot has breathtaking mountain views of Four Peaks and no rear neighbor for optimal privacy. As you approach you are greeted by a relaxing private courtyard with a charming stacked stone fireplace. The chef's kitchen has a formal eat-in area and boasts custom cabinetry, stainless appliances, granite counters, large island with breakfast bar, backsplash, wine fridge, R/O system, and a gas cooktop with hood. Relax in the spacious great room with oversized sliding doors to create the perfect indoor/outdoor space for entertaining. The luxurious master suite has a private patio slider, large walk-in closet, and a full bathroom with dual sinks and a walk-in shower with glass enclosure. Other features include Smart Home technology, gas water heater, home office den, owned water softener, laundry space with built-in desk, 3 car garage, and an underground 250 gal propane tank. Utilize the separate guest casita as the perfect spot for hosting family or friends. The resort style backyard has a sparkling heated pool and spa, wrought iron view fence, faux grass lawn, raised fire pit seating area, and a large covered patio with a custom heater, privacy screen, mounted TV, and a full BBQ kitchen area. Don't miss out on this perfect property that has everything today's market seeks!

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3920 E Covey Lane Phoenix, AZ 85050

$1,375,000

5 Beds

4.5 Baths

4,044 SqFt

Status Active

MLS # 6777915

Property Type Single Family Residence

Price Type --

Welcome to your poolside paradise in Fireside at Desert Ridge! This ''Chattanooga'' floor plan sits on a premium oversized cul-de-sac lot featuring a newly added pool/spa with relaxing water features, an ''endless'' swim lane, and cozy fireplace/fire bowls. With professionally designed interiors, this home has been thoughtfully upgraded with new tile, hardwood flooring, carpet, interior paint, and a refreshed kitchen boasting new quartz counters. Other improvements made include a tankless water heater, 240v electric vehicle charging, spa heater, laundry sink, landscaping/landscape lighting, fixtures, and exterior paint. Enjoy a carefree lifestyle at Fireside with resort amenities at the luxurious community center and the convenience of being minutes from Desert Ridge award-winning schools, dining, shopping, and convenient freeway access.

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3116 N 47th Street Phoenix, AZ 85018

$1,375,000

4 Beds

3.5 Baths

3,008 SqFt

Status Active

MLS # 6703562

Property Type Single Family Residence

Price Type --

Tucked away on one of the largest lots, 10,800 sq ft, in El Coronado Estates lies this charming quintessential 3000+ Arcadia Ranch built by modern builders and remodeled by well-known local contractor Don Matteson. The Gourmet Kitchen has a commercial grade gas stove top, luxurious custom cabinets and oversized island which opens to cozy family room & dining room designed to look like her previous Calle Del Norte house. It is Perfect for entertaining & family gatherings. There are 4 spacious beds, 3.5baths, laundry room & storage one only dreams about. Imagine having coffee or a glass of wine on one of the many patios in the enchanting lushly landscaped grounds with arbors & English gardens. Top rated Arcadia Schools. This amazing neighborhood with cul de sac lots has a community pool!

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2974 E Camellia Drive Gilbert, AZ 85296

$1,375,000

9 Beds

5.5 Baths

5,979 SqFt

Status Active

MLS # 6700965

Property Type Single Family Residence

Price Type --

Price reduction is lower than recent appraisal - get instant equity! This one of a kind home features 7 bedrooms/5.5 baths/basement PLUS a 2 bedroom casita. Open floor plan boasts a spacious living area perfect for entertaining guests & enjoying family time. Entertain in style w multiple living areas, including a formal dining, wet bar, cozy living room w gas fireplace. Primary bath has steam shower, sep tub w jets & large w/in closet. Backyard boast synthetic grass for easy upkeep. The whole family can enjoy your private pool/spa and large covered patio. Basement has plenty of space to convert into a theatre. Agritopia is known for its tree-lined streets, community gardens, and friendly atmosphere. Residents enjoy nearby amenities such as parks, restaurants & shopping.Just off the 202 fw Welcome to this charming home in the highly sought after Agritopia! Charming community has many family oriented event happening monthly. This is a rare find with the 2 bedroom guest house. 9 bedrooms total plus an office with builtin bookshelves. Walking distance to Gilbert Christian School. Rent out the 2 bedroom casita for $1850 - $2300 a month to subsidize the mortgage payments. The casita is 860 st ft, with W/D, full kitchen and a back yard which is gated. New carpet & paint in the home and guest house. Back yard is designed for low maintenance care. Close to the Freeway for easy access to anywhere is the valley.

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