The 4 Most Common Mortgage Questions, Answered

Making the decision to purchase a home is one of the most significant investments most people will make in their life, and this automatically means there are a lot of questions that need to be answered before putting any money down. If you’re considering making the leap, here are some insights into some of the common questions you might have.

How Much Should You Put Down?

While many homebuyers have the option of putting as little as 3% down in order to purchase a home, there are benefits to saving up for a down payment and putting in 15 or 20%. Because your interest rate will be higher on a lower down payment, putting more down can mean a lower overall price tag and monthly payment.

Fixed or Variable Rate Mortgage?

While a fixed rate mortgage can be good for homeowners who are new to the market due to its stability, a variable rate can be hard to rely on because it can change all of the time. Fixed rates can end up costing more than variable rates in the event of low interest rates, but it’s important to determine your comfort level with the market is before deciding on your mortgage type.

How Will The Lender Assess You?

There are a number of different factors that lenders will assess you on including your income, personal debt load, employment and credit history. While it’s important to be in the good books for these reasons, a lower credit score does not mean you will not be able to qualify for a mortgage; it simply means that you may need to provide a higher down payment.

What Will The Monthly Payment Be?

One of the conundrums of home ownership is being able to determine what you’ll actually be paying per month to purchase your home, but this number is dependent on the size of your mortgage, your interest rate, and the frequency of your payments. There are also many handy online tools you can use to provide some estimates but it’s best that you consult your mortgage specialist about this.

Most homeowners, particularly those that are new to home ownership, have many questions when it comes to purchasing a home, but by being aware of what a lender looks at and what you should put down, you’re well on your way to a healthy attitude towards ownership. If you’re currently considering buying a home, give me a call today – J.P. Cook – 602-320-4253.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

4656 W Aztec Drive Eloy, AZ 85131

$659,900

2 Beds

2 Baths

2,299 SqFt

Status Active

MLS # 6733944

Property Type Single Family Residence

Price Type --

MOVE-IN-READY, Spectacular GOLF COURSE views abound through huge windows in great room, kitchen and master bedroom. The master bath and custom master walk-in closet are huge. Open concept kitchen features granite counters with full back splash, large island, staggered knotty alder cabinets, stainless steel appliances. Landscaped with walkways down both sides of the house. Front courtyard w/ pony wall, large back patio, including new hot tub w/pergola, and new outdoor linear gas fireplace with TV. Outdoor grill with bar height seating. A beautiful home you can compare to a new build, with all the extras included. Two car and golf cart garage, epoxy floor and professionally installed floor to ceiling cabinets. This home can come FURNISHED with few exclusions or unfurnished, buyers choice.

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9904 E Monterey Avenue Mesa, AZ 85209

$659,900

4 Beds

2 Baths

2,701 SqFt

Status Active

MLS # 6735242

Property Type Single Family Residence

Price Type --

$10,000 seller credit!!! Welcome to this beautiful home in the Prestigious Augusta Ranch Golf community. Home has 4 large Bedrooms, Split Floor Plan, Separate Living & Family Rooms w/ Vaulted Ceilings. The Eat-In Kitchen has an Island/Breakfast Bar, Gas Range, b/i Microwave, walk in pantry & additional built in Cabinets in Laundry Room. Primary bathroom has Shower & Tub, Dual Sinks & Walk-In Closet. This home has Ceiling fans, wood plantation shutters & neutral 2 tone paint throughout. The Large Backyard is perfect for your next BBQ w/ an enormous Covered Patio & 3 fruit trees (lime, orange, grapefruit), palm trees and is extra spacious. 3 car Garage has many b/i Cabinets, Service Door & tankless water heater. This home is in one of the best communities in East Valley.

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10348 E Tupelo Avenue Mesa, AZ 85212

$659,900

3 Beds

2.5 Baths

2,319 SqFt

Status Active

MLS # 6759378

Property Type Single Family Residence

Price Type --

Spacious home! Unique circular entrance with an open split floorplan. This is a must see 3 bedroom + den, roomy owners suite with dual vanities & bench shower. The 2 guest bedrooms share a Jack n' Jill bath with each bedroom having their own private vanity. Home also features a den, powder room, granite island kitchen and full wall granite backsplash with seating and upgraded cabinets, dining area, separate laundry and a 3 car garage. Floor upgrades and barely lived in, on an oversized lot with room for a pool, this home is located in a desirable location and walking distance to the Encore Club. (WHEW!!!) All this could be yours!

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1413 W Coral Reef Drive Gilbert, AZ 85233

$659,900

4 Beds

2.5 Baths

2,490 SqFt

Status Active

MLS # 6769275

Property Type Townhouse

Price Type --

This stunning waterfront villa is situated in the highly sought-after Coral Reef subdivision at The Islands. Featuring 4 bedrooms and 2.5 baths, the home offers breathtaking lake views from the master bedroom, family room, and dining room. The first floor and all bathrooms are adorned with elegant Travertine flooring. Enjoy your morning coffee or evening sunsets on the patio, located right by the water's edge. The community pool is just steps away, making this home not only a place to live, but a lifestyle to embrace.

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2071 E Remington Place Chandler, AZ 85286

Open House

$659,900

4 Beds

2.5 Baths

2,378 SqFt

Status Active

MLS # 6778065

Property Type Single Family Residence

Price Type --

Charming Chandler home with 4 spacious bedrooms, 2.5 bathrooms, a den, & a loft, there's plenty of room for everyone. The kitchen is complete with a granite island, ideal for entertaining. The spacious master suite features a private gas fireplace, laminate wood flooring, his-and-hers built-in dressers, and a large walk-in shower. Step into your resort-style backyard with a covered patio, separate ramada, built-in gas BBQ, firepit, specialty lighting, planters, and a play pool with a waterfall. Low-maintenance synthetic grass keeps it easy year-round. The property also includes a 3-car garage, RV gate, and extra parking slab. Located on a quiet cul-de-sac near parks and greenbelts!

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1295 E Elysian Pass San Tan Valley, AZ 85140

Open House

$659,900

2 Beds

2 Baths

1,949 SqFt

Status Active

MLS # 6780498

Property Type Single Family Residence

Price Type --

Step into luxury with this stunning ''Nice'' plan home, designed to impress. The gourmet kitchen boasts top-of-the-line appliances, custom light fixtures, and a beautiful backsplash. Enjoy the rolling wall of windows that open to an expansive backyard oasis with a spacious patio, cozy fireplace, lush turf grass, extended travertine pavers, mature trees, and a fenced yard—perfect for entertaining or relaxing. The den, with its custom-built bookcase, is ideal for a home office. The large laundry room offers ample cabinet space and an additional desk area. Located at Encanterra Golf & Country Club Resort, this well-maintained home offers world class amenities at your doorstep. Enjoy dining at La Casa, stay fit at the state-of-the-art fitness center, or unwind in the indoor pool and spa.

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44811 N 12th Street New River, AZ 85087

$659,800

3 Beds

2 Baths

2,072 SqFt

Status Active

MLS # 6768506

Property Type Single Family Residence

Price Type --

Acre+ Private Santa Fe Territorial Home with 10 ft soaring ceilings. Awesome mountain and desert views with a private setting to enjoy and relax in the AZ Climate. Home features 3 bedrooms 2 baths, fireplace, 2.5 car garage, den, and fireplace. Spacious primary bedroom with large walk in closet. Primary bath has large garden tub, Huge Seperate shower, and double vanity sinks. Open floorplan with Great Rm concept featuring large picture windows, fireplace, and 10ft + beamed ceilings. Loads of sspace for all your toys and vehichles. No hoa.

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25137 N 171st Avenue Surprise, AZ 85387

$659,535

4 Beds

3 Baths

2,065 SqFt

Status Active

MLS # 6776933

Property Type Single Family Residence

Price Type --

MLS# 6776933 March Completion! Choose the exterior that speaks to you! Then, head through the porch and into the foyer to find three bedrooms and one bathroom on this side of the home. Across the foyer is a laundry room, an additional bedroom and bathroom, and the entry to your two-car garage. Keep going to discover beautiful open concept living: a great room flows to a casual dining area, kitchen with an island, and covered outdoor living, the perfect spot for hosting! Tucked away is a serene primary suite with a spa-inspired bathroom and spacious walk-in closet. Structural options include: paver front porch, 12' x 8' 8' multi-slide door at gathering, super shower at primary bathroom, gourmet kitchen, and study in lieu of bedroom 2.

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20574 S 194th Place Queen Creek, AZ 85142

$659,500

4 Beds

2.5 Baths

2,596 SqFt

Status Active

MLS # 6679596

Property Type Single Family Residence

Price Type --

This stunning single level home features a large eat in kitchen, walk-in pantry, great room, and flexible bonus/den/dining room. The luxurious primary suite includes a large bathroom with separate vanities, soaking tub and a huge walk-in closet. The laundry room has access from the primary closet and secondary bedrooms hallway. The main living areas have wood-look tile, with cozy carpet in the bedrooms. This home is beautifully appointed with double ovens and granite counters in the kitchen, raised vanities in the bathrooms, double sinks in the 2nd bath and plantation shutters throughout. Easy maintenance back yard and desert landscaped front yard. Backyard is plumbed for natural gas - perfect for a BBQ. 3 car tandem garage is plumed for water softener. Washer/dryer included.

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20677 N 16th Way Phoenix, AZ 85024

$659,100

3 Beds

2.5 Baths

2,488 SqFt

Status Active

MLS # 6738436

Property Type Single Family Residence

Price Type --

Amazing opportunity in Phoenix, AZ. Single level home with approximately 2,488 square feet. Includes a three-car attached garage. The home sits on a lot of approximately 11,976 square feet. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS Sale.

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15716 W Sierra Street Surprise, AZ 85379

$659,000

5 Beds

3.5 Baths

4,035 SqFt

Status Active

MLS # 6725319

Property Type Single Family Residence

Price Type --

Discover luxury living in this well maintained home built in 2007, nestled in the heart of Greer Ranch North. Boasting 5 bedrooms and 3.5 bathrooms, this residence offers ample space for both relaxation and entertaining. Step inside to find a versatile den, ideal for a home office or study, complemented by a formal living and dining area. The family room provides a cozy retreat, perfect for gatherings. Upstairs, a generous bonus loft offers additional flexibility, whether used as a play area, media room, or second family room. The heart of this home lies in its lovely kitchen, with granite countertops, and a convenient island for casual dining. Adjacent is a spacious breakfast nook, overlooking the tranquil backyard oasis.

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11620 S 217th Avenue Buckeye, AZ 85326

$659,000

4 Beds

3.5 Baths

2,467 SqFt

Status Active

MLS # 6762379

Property Type Single Family Residence

Price Type --

Be the proud owner of this residence sitting on a 1-acre lot with amazing mountain views! The double custom ironwork doors open to a semi-open layout featuring vaulted ceilings, durable tile flooring, neutral paint, and gorgeous light fixtures. Entertain your guests in the living area or host a feast in the formal dining! The kitchen showcases quartz counters, SS appliances, a stylish backsplash, cabinetry w/crown moulding, and a center island w/breakfast bar. The main bedroom is a true retreat, with its ensuite boasting dual sinks and a walk-in closet. Discover an expansive backyard that provides a covered patio, artificial turf, well-laid pavers, a Ramada w/built-in BBQ, an additional pergola, and a barn/stalls for your horses. This is the one for you! Don't wait!

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