The Pros and Cons of a Getting Mortgage without Marriage

The Pros and Cons of There was a time when a higher percentage of people were married before they committed to buying a home together, but it’s a lot more common to invest in a home together as friends, partners, roommates or just as an investment property for financial gain.

If you’re considering the commitment of a mortgage without being married, here are some things to be aware of before you start searching the market.

Relationship Status Won’t Affect Your Rates

It might seem like there are greater risks involved if individuals purchasing a property are not legally bound, but it actually makes no difference to the mortgage lender. If any number of people are buying a home together, the lender is going to be assessing their credibility based on their individual credit reports and financial history, not on their relationship to each other.  All the proof, as far as lenders are concerned, is in the numbers.

What’s Your Credit History?

Most people are aware of their credit history, whether they’ve had financial hiccups in the past or are still paying off a significant amount of debt. However, it is more difficult for some to know the financial background of their partners.  Because the lender will be looking at credit scores, if you or your partner(s) have had financial issues in the past, it can have an adverse impact on your application. While you may have a nearly perfect credit history, if your partner does not this can make mortgage approval more difficult.  If this is the case, even in a marriage, it may be better for the prospective buyer to obtain the mortgage without considering the other party on the application.  You may be eligible for better rates and terms when only you are on the application.

In The Event Of Conflict or Separation

Home ownership can involve significant hurdles after a divorce, but there will still be some legal and financial issues to wade through if you’ve never been married. Since it’s likely that you won’t want to continue to own property together, there’s the possibility that one party will have to buy the other out, which can be a sizeable financial burden. While this type of situation may never come to fruition, it’s important to be aware of what might occur so you can be prepared.

There can be a lot of complexities involved in investing in home ownership whether you’re married or not, but it’s important to have an awareness of your partner’s financial history, be prepared for financial hurdles and plan for an exit strategy if the partnership is no longer working.  Give me a call for more information – J.P. Cook – 602-320-4253.

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25572 N 113th Way Scottsdale, AZ 85255

$3,000,000
4 Beds
6 Baths
5,593 SqFt
Status Active
MLS # 6726576
Property Type Single Family Residence
Price Type --
Spectacular luxury home located in coveted guard gated Troon Village, w/ dramatic drive-up appeal & picturesque Sonoran boulder setting, boasts panoramic mountain views. Architectural masterpiece w/ fine details & thoughtful home design, this great room split bedroom plan with exquisite indoor outdoor AZ living is an entertainer's dream.Luxurious kitchen with expansive eat-in island, Wolf gas range & electric ovens, SubZero fridge/freezer, opens to inviting family room with charming stone fireplace, slate floors, rich wood planked ceiling accented with stunning beams, opens to outdoor living with retractable glass & screen slider & dine in style with Four Peaks views & seated wet bar with access to downstairs tasting room and 500 bottle temp-controlled wine cellar. Executive office with custom built-ins, Owner's retreat with flex exercise/office opens to private patio and backyard outdoor living space and pool/spa. Ideal ensuite secondary bedrooms with private entries and expansive wrap around balcony with fireplace. Downstairs hub with an impressive in-home theatre with wet bar plus flex room that could serve as a bunk room/office/exercise room with half bath. Spacious 1200 SF air-conditioned extended three car garage is fit for a king with half bath, motorcycle lift ,work benches, air compressor lines and easy access elevator lift to main level. G5 automated system, owned solar panels, 5 new AC units, pool equipment and appliances. A sanctuary in the Sonoran desert.

5818 N 45th Street Phoenix, AZ 85018

$3,000,000 - 4Br/4Ba -  for Sale in Heritage Hills Unit 1, Phoenix
Open House
$3,000,000
4 Beds
3.5 Baths
3,372 SqFt
Status Active
MLS # 6768941
Property Type Single Family Residence
Price Type --
Stunning 4-bedroom + office, 3.5-bathroom home in the prestigious Camelback Canyon Estates neighborhood of Phoenix, AZ. This property epitomizes modern elegance and offers an unparalleled living experience with its prime location nestled between Camelback Mountain, Paradise Valley, and Arcadia. The home boasts extraordinary views of the iconic Camelback Mountain, visible from the spacious pavered front courtyard, kitchen window, and the backyard oasis. The open and light-filled living spaces are designed for both comfort and style, featuring a double-sided fireplace and a wet bar with clever wine storage. The kitchen is a chef's dream, adorned with sleek walnut cabinetry, a built-in buffet, Miele appliances, and Sub-Zero refrigerator/freezer. The butler's pantry provides additional storage, food prep, and office/craft space. The split floorplan ensures privacy, with a spacious primary suite that includes a sitting room/office and two closets. The luxurious primary bath is equipped with walnut cabinetry, double vanities, a custom walk-in shower featuring fossilized limestone tile surround, two shower heads/four body spray jets , and a jetted soaking tub. The crown jewel of this home is the spectacular backyard, designed by modern building design for ultimate outdoor living. Motorized pocketing glass doors open to a post-free patio cover, shading dining and living areas, complete with a movie projector and motorized screen. The outdoor kitchen is top-of-the-line, featuring a Turbo Stainless Steel BBQ, Turbo Teppanyaki grill, and a rare built-in wood-burning grill by Grillworks, Inc. The updated heated resort pool includes a spacious Baja ledge and a tiled vanishing edge spillover spa. Additional shaded lounging spaces, natural gas fireplace with seating, and outdoor shower complete this private resort feeling. This home is conveniently located near the best dining, resorts, shopping, and recreation the valley has to offer, including Global Ambassador, Steak 44, The Henry, AJ's Fine Foods, The Village Health Club, and Echo Canyon Trailhead on Camelback Mountain

29906 N Miradar Court Scottsdale, AZ 85262

$3,000,000 - 4Br/5Ba -  for Sale in Granite Mountain Ranch Unit 1, Scottsdale
Open House
$3,000,000
4 Beds
5 Baths
5,684 SqFt
Status Active
MLS # 6651364
Property Type Single Family Residence
Price Type --
Spectacular luxury living in this meticulously designed Spanish Ranch home, nestled in Granite Mountain Ranch, North Scottsdale's only gated equestrian estates. Gorgeous Four Peaks mountain view estate is on almost 5 acres (2 lots) located at the end of a large cul-de-sac. Sale includes two parcels totaling 4.803 acres - parcels 219-40-083 and 219-40-082.The property's circular driveway and stone gate house create a grand entrance with a fountain and gas fireplace that welcomes guests with a sense of luxury and prestige. An architectural masterpiece, this four-bedroom custom home with attached casita was originally crafted for the architect himself, and exudes sophistication and attention to detail at every turn. The interior is captivating with elegance and warmth, and has four distinct shapes of large tumbled travertine, laid in a Versailles pattern throughout main living areas and extending gracefully to the outdoors. Pillars and niches adorned with ambient lighting create a timeless look. Main living area has amazing views to the outdoors with a massive cantera stone gas fireplace. The kitchen is a chef's delight, equipped with a warming drawer, appliance garage, a new ASKO dishwasher and a huge center island with granite slab countertops. The Wolf built-in cooktop and oven are propane gas and the range hood is accentuated with faux painting. The SubZero double refrigerator and two dishwashers ensure efficiency. The separate bar seats five and is granite-topped with ice maker and wine chiller. This residence is a showcase of thoughtful features, including a central vacuum system, four AC zones, an AV closet and a beautiful powder room. The den, complete with wood-beamed ceilings offers versatility with its closet, potentially transforming it into a bedroom. A four-car garage with epoxy floors and a spacious in-garage storage room. The utility closets house a water softener, 4 HVAC air handlers, and two hot water heaters. The primary suite on the same side as the den invites tranquility, with wood flooring, knotty alder cabinets and doors, and a gas fireplace. The primary bath is a spa-like retreat, featuring a coffee bar with built-in SubZero refrigerator, jetted soaking tub, separate closets with custom built-ins, and an indulgent six-shower head experience. Enjoy the breathtaking view of Four Peaks from the primary bathroom, complemented by a travertine outdoor shower. Your visitors will love the guest amenities, with two spacious guest suites on the opposite side of home with private baths and large walk-in closets. A 400 sq ft casita with a kitchenette, SubZero fridge, walk-in closet, and full bathroom provides your guests a private retreat. Technology seamlessly integrates with luxury in this property, with Control 4 system, managing 4 outdoor security cameras, music with in-ceiling speakers throughout the house and back patio, weather, and six mounted TVs which convey to the buyer. A formal dining room with a bricked ceiling and double doors opening to the front courtyard sets the stage for intimate gatherings around the gas fireplace and courtyard fountain. The outdoor space is an entertainer's dream. The backyard oasis offers unobstructed Four Peaks and Matzatzal mountain views, with a Jacuzzi and pool that can be controlled from inside the home. Owned solar system heats the pool for extended enjoyment in the fall and spring. A built-in grill and bar, wood-burning fireplace and firepit complete the entertainment amenities. Granite Mountain Ranch is the only gated equestrian community in Scottsdale where each homeowner can have up to 4 horses per lot. It has 100 home sites spread across 315 acres, 15 acres of equestrian facilities including 2 large arenas and 2 round pens, paved and lighted streets, underground utilities and a private water resource. It's adjacent to the McDowell Sonoran Preserve. You'll have easy access to unlimited riding trails, hiking, biking & fishing. Within a 10-to-30 minute drive are many of Arizona's top golf courses.

10670 E Hedgehog Place Scottsdale, AZ 85262

$3,000,000 - 5Br/6Ba -  for Sale in Pinnacle Canyon/tierra Encantada At Troon North, Scottsdale
Open House
$3,000,000
5 Beds
6 Baths
4,665 SqFt
Status Active
MLS # 6675444
Property Type Single Family Residence
Price Type --
Welcome to this enchanting Spanish-style home nestled amidst boulder outcroppings with breathtaking views of the McDowells, Pinnacle Peak and Crescent Moon. Located in the gated community of Pinnacle Canyon, this custom home was built by RS Homes with a focus on blending elegant architecture and natural beauty. Inside you will discover a warm and inviting interior adorned with classic accents including wood vegas & fireplace mantels, chocolate Saltillo & travertine tile, wood flooring and divided light windows. The inviting kitchen, with colorful tile countertops and backsplashes and convenient dumb waiter, adjoins a breakfast room with sunrise views. The primary suite, with cozy fireplace and private patio access, includes a bonus room perfect for nursery, exercise room, etc. Outside, the enchanting backyard oasis awaits with elevated covered patio and dining area, pool, spa, outdoor kitchen and pool bath. With extreme attention to detail, this is an opportunity to own a jewel box in the desert.

Prescott AZ 86305

$2,999,999
3 Beds
3 Baths
3,586 SqFt
Status Active
MLS # 6609583
Property Type Single Family Residence
Price Type --
Less than 25 miles from downtown Prescott, AZ awaits a truly special equestrian treasure - Happy's Dream Ranch. Designed for the pleasure of humans and horses alike, this beautiful property set in Long Meadow Ranch features a warm yet elegant modern 3586 sqft. farmhouse with a 1-car attached, and 2-car detached garage. Beyond the home, the property includes a hay barn w/ bunkhouse, a tiny home, and two airy barns with tack rooms and a total of 20 stalls. Perimeter fenced and cross fenced, there is ample room to train, ride, and run on the magnificent 36.46 acre property - including in a 120' x 240' arena, and an electric Eurociser. With a backdrop of majestic Granite Mountain and stunning 360 degree sweeping views, Happy's Dream Ranch provides the quintessential Arizona ranch lifestyle!

2659 E Maplewood Street Gilbert, AZ 85297

$2,999,999
5 Beds
3.5 Baths
4,031 SqFt
Status Active
MLS # 6717424
Property Type Single Family Residence
Price Type --
PERSONALIZE YOUR DREAM HOME & CHOOSE YOUR FINISHES! Gilbert's Landmark at Somerset, spanning 4,031 sq ft - nestled by the park on .54 acres with a 4-car garage & storage room. A large courtyard welcomes you, while inside, 5 bedrooms, including a luxurious primary suite & a full guest retreat & playroom, await. The heart is the open kitchen, great room, & nook area, perfect for gatherings. Retreat to the primary bedroom oasis with a spa-like ensuite, large walk-in closet & large walk-in shower with benches on both sides & a separate soaking. A large, covered patio & a N/S lot orientation. Don't miss out on this opportunity to own a custom-built masterpiece in Gilbert's Somerset. Skip the lengthy design & construction process! ESTIMATED COMPLETION QUARTER ONE 2025!

17412 E Bobwhite Way Rio Verde, AZ 85263

$2,999,999
3 Beds
3.5 Baths
4,227 SqFt
Status Active
MLS # 6766185
Property Type Single Family Residence
Price Type --
Nestled within the well-sought-after guarded gate community of Trilogy at Verde River, this luxury residence epitomizes refined living with its prime location overlooking the 4th Green and breathtaking mountain vistas. Situated on an expansive 24,500+ sqft lot, no detail was spared in the design of this exquisite home. The grand entry foyer is a showstopper, featuring dramatic high ceilings and elegantly surrounded by sleek tile walls, creating a stunning first impression. As you enter the great room, you'll be captivated by the refined upgrades, including dropped beamed ceilings, floor-to-ceiling fireplace, and clean, neutral tones that enhance the spacious interior. Natural light floods the room through skylights and a center-open multi-panel sliding glass door, seamlessly connecting to the resort-style backyard. The gourmet kitchen features an island with designer pendant lighting, complemented by high-end stainless-steel appliances and stacked cabinetry. The strategically placed butler pantry bridges the kitchen and dining room and is complete with 2 wine refrigerators. The entertainment room is spacious and fitted with a sink, beverage refrigerator, built-in cabinetry, and a sliding door that opens up to the covered patio! The primary suite exudes luxury with built-in cabinets, custom shutters, and an ensuite bathroom featuring a soaking tub, dual-entry tiled shower, bidet toilet, and his-and-her custom walk-in closets by Classy Closets. The private casita has an entrance from the front courtyard and offers a living room, bedroom, and ensuite. This luxurious backyard is an entertainer's dream, featuring an oversized pool with mesmerizing fountains that change colors, creating a private water show against the backdrop of stunning mountain views. The elevated spa adds a touch of relaxation, while the custom pergola offers a high-top counter, a TV, and an EVO grill, BBQ, and cooktop. Whether hosting or unwinding, this space blends beauty and functionality for unforgettable outdoor living. This home offers a blend of elegance and comfort, perfect for those seeking the pinnacle of desert living in Trilogy at Verde River. The amenities at Trilogy at Verde River are World Class with Tom Lehman-inspired eighteen-hole golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and resort-style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.

3500 E Lincoln Drive Unit 22 Phoenix, AZ 85018

$2,999,999
5 Beds
4.5 Baths
4,241 SqFt
Status Active
MLS # 6729102
Property Type Single Family Residence
Price Type --
Welcome to your GUARD GATED serene retreat on over half an acre along the mountainside of Lincoln Hills with city views of the valley! Enter into the open concept floorplan with newer ACs, roof w/ 5 year warranty, water purification system, updated flooring, solid core doors, and updated ceiling fans and light fixtures throughout. Remodeled chef's kitchen with top of the line Sub-Zero fridge, 4 burner gas cooktop plus griddle, all new cabinets/ pull outs, RO system, prep sink, and wine fridge. Luxury primary suite with extended balcony overlooking the mountain and city views. Flex game room designed for indoor/outdoor style living with glass garage doors. Private backyard oasis with multiple private patios, pool, outdoor kitchen with gas BBQ, dishwasher, and fridge. Come take a look today

7702 N Moonlight Lane Paradise Valley, AZ 85253

$2,999,999
5 Beds
6.5 Baths
6,214 SqFt
Status Active
MLS # 6745821
Property Type Single Family Residence
Price Type --
THE MOST STUNNING VIEWS IN PARADISE VALLEY! Seize the extraordinary and rare chance to own a prime 1.2-acre hillside lot offering sweeping, awe-inspiring views of Camelback Mountain, Mummy Mountain, the McDowell Mountains, Pinnacle Peak, and the shimmering city lights below. This hilltop sanctuary is nestled in the prestigious Tatum Canyon enclave in the heart of Paradise Valley. Privately gated and situated at the end of a tranquil cul-de-sac, the property currently features a livable soft contemporary-style home. Its prime location is just moments from the Paradise Valley Golf and Country Club, the new Ritz Carlton Resort, Camelback Inn & Spa, and a variety of upscale shopping and dining options. Remodel the existing 6,200 SqFt home or create the estate of your dreams— no HOA restrictions.

2402 E Esplanade Lane Unit 902 Phoenix, AZ 85016

$2,999,999
2 Beds
3 Baths
3,542 SqFt
Status Active
MLS # 6738813
Property Type Apartment
Price Type --
Nestled in the heart of the prestigious Biltmore area of Phoenix, this luxurious ninth-floor condominium residence offers over 3,500 square feet of contemporary elegance. The expansive floor plan features impressive entertaining spaces with breathtaking views to the downtown Phoenix skyline and beyond. Floor to ceiling windows plus two oversized balconies highlight these vistas and provide ideal natural light. As expected, top-of-the-line finishes and modern design elements abound, from beautiful light real oak wood floors to Wolf, Subzero and Miele appliances. Twp private and separated en suite bedrooms plus a dedicated office/study and powder room complete this perfect home. Esplanade Place offers true luxury lock and leave living along with the highest standards for residence security, including on-site guard, controlled garage and floor access, on-site valet, full exercise gym and steam rooms, large club room for entertaining with catering kitchen, roof-top pool, gas grills for residents plus a dedicated dog run area. Condominium residences of this size and level of finish are difficult to find in the greater Phoenix/Scottsdale market. This offering is truly a gem!

30505 N Sage Drive Peoria, AZ 85383

$2,999,995
3 Beds
3.5 Baths
4,483 SqFt
Status Active
MLS # 6777345
Property Type Single Family Residence
Price Type --
This stunning contemporary home situated in Blackstone Country Club boasts elegance and sophistication. All furnishings included! With exquisite modern finishes throughout, this brand new home offers breathtaking golf course and mountain views from the 12th Fairway. The 50-foot long heated PebbleTec pool is perfect for relaxation, exercise and entertaining. The kitchen is a chef's dream with glossy acrylic high-end cabinetry, gorgeous quartz countertops, and top-of-the-line Thermador and Sub-Zero appliances, 2 dishwashers and includes a hidden butler pantry with ample wine refrigerator. The attention to detail in this home is impeccable, featuring expansive windows that seamlessly integrate with the outdoor landscaping. Wait until you see this gem! Other notable features include a custom sculpture at the entryway, 14-foot ceilings, luxury automatic window treatments, a library with built-in bookcases, and a separate TV viewing room. Three large bedrooms all include baths and exits to the pool area. This home was built with no steps and includes air-conditioned garage space. Blackstone is a guard-gated community with a private Country Club which has an optional membership.

2150 E Belmont Avenue Phoenix, AZ 85020

$2,999,995
3 Beds
3.5 Baths
4,716 SqFt
Status Active
MLS # 6643007
Property Type Single Family Residence
Price Type --
Biltmore Highlands, located on a hillside bordering the Phoenix Mountain Preserve Piestewa Peak. This residence combines nature's tranquility with urban convenience, offering breathtaking & unobstructed mountain, and city views! Minimalist-style kitchen with ample storage, and a complete butler pantry. The primary bedroom has a sizable walk-in closet w/built-ins and a lavish ensuite with dual sinks & soaking tub. The upstairs laundry room is complete with sink & cabinetry. Discover the entertainer's backyard, where an elevated negative edge pool awaits for refreshing swims, or chill and take in the mountain views. The rooftop party deck is an excellent spot to savor those amazing sunsets complete with an outdoor kitchen. You have a private gate to access the Phoenix Mountain Preserve! The scrim that covers the front and east side of the home creates a solar passage, increasing efficiency, privacy, and once it rust it will allow the home to blend with its desert surroundings. A huge covered patio in front of the home allows you to enjoy indoor-outdoor living when opening your matching 4-panel pocket doors and 8 pivot doors, doubling your space for entertaining. World-class hiking right out your back gate! Just Minutes from Old Town Scottsdale, Sky Harbor Airport, and downtown Phoenix. Located near the 51 freeway, without the noise, that gets you to the 10 or the 101 freeways in minutes.

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