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

6106 N 13th Avenue Phoenix, AZ 85013

$600,000

3 Beds

3 Baths

2,249 SqFt

Status Active

MLS # 6785816

Property Type Single Family Residence

Price Type --

This 4 bedroom / 3 bathroom has so much charm! This home is perfect for anyone looking for a home that they can update to their own design style. The location is great, the lot is huge, the front yard has lush trees and that's only the beginning. Walking into the living room you will notice the beautiful wood flooring with a view of the front yard. The open kitchen has a small roller island for additional counter space and stainless steel appliances with tile flooring for easy cleanup. The dining room is just off the kitchen and has plenty of room for family dinners or game nights. The house features extra storage and little touches throughout. 3 of the 4 bedrooms are downstairs with a master bedroom both downstairs and upstairs. The upstairs master bedroom is huge with a sliding glass door that opens up a large balcony to enjoy the large yard and views. The backyard is a wonderful size, has a pebble tech pool, a covered patio and plenty of room for entertaining and relaxing. This home is a rare find in the sought-after Central Phoenix Area.

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19700 N 76th Street Unit 1136 Scottsdale, AZ 85255

$600,000

2 Beds

2 Baths

1,863 SqFt

Status Active Under Contract

MLS # 6758728

Property Type Apartment

Price Type --

This is the only furnished ground floor end unit in this gated community with pools and workout facility. Near guest parking in a quiet cul de sac. Perfect set up for full time residents, winter visitors, or long-term rental. Close to all the amenities of DC Ranch, Kierland and the Scottsdale Quarter. Adjacent to the Grayhawk Golf Course and a short drive to TPC Scottsdale.

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3706 E Desert Flower Lane Phoenix, AZ 85044

$600,000

4 Beds

2 Baths

2,120 SqFt

Status Active Under Contract

MLS # 6762964

Property Type Single Family Residence

Price Type --

Welcome to your beautiful home in desirable Mountain Park Ranch! Walk into a large living / dining room with vaulted ceilings and plenty of natural light. Proceed into the kitchen opening into the great room which opens into an inviting back patio with turf back yard. There are updated windows and shutters throughout the home. The primary suite expands with a large walk-in closet and full bathroom. Down the hallway are the other bedrooms which, from the primary suite, gives you the feel of a split-floorplan. This wonderful house provides both the open concept great room feel coupled with areas for everyone all with new windows and shutters. This house checks so many boxes you need to see it to believe it - schedule your showing today! Make sure you look at the list of improvements on this property - pride of ownership! From major system updates (Trane HVAC!) to new carpet, there have been many repairs already completed!

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11235 E Olla Avenue Mesa, AZ 85212

$600,000

2 Beds

2 Baths

1,882 SqFt

Status Active Under Contract

MLS # 6778553

Property Type Single Family Residence

Price Type --

Look no further! Wonderful home designed with a split floorplan w/2 bedrooms plus den & 2 baths. Desert color paint, tile flooring in main living areas & baths, carpet in bedrooms & den. Plantation shutters, vaulted ceilings, recessed lighting & ceiling fans. Spacious kitchen features large center island w/white quartz counter, stainless appliances, lots of granite counter space, walk-in pantry & breakfast bar. Tranquil primary retreat, 2 walk-in closets, bath has 2 separate vanities, private toilet room & oversized walk-in shower. Large great room & dining area w/2 picture windows for views of the lovely south facing backyard w/pavered patio & artificial putting green. 2 car garage plus expanded golf car garage. Enjoy all that Sunland Village Community has to offer. Show & Sell!

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21222 N 124th Avenue Sun City West, AZ 85375

$600,000

3 Beds

2 Baths

2,528 SqFt

Status Active

MLS # 6775437

Property Type Single Family Residence

Price Type --

Step into this spacious, sun-soaked 3-bedroom, 2-bath San Simeon model, perfectly nestled on the golf course! The open floor plan offers vaulted ceilings and large windows, filling the home with natural light and breathtaking views. The modern kitchen boasts granite countertops, abundant cabinetry, and a cozy breakfast nook with views of the greens. The expansive back patio is an entertainer's dream, featuring plenty of seating and a serene golf course view—ideal for morning coffee or evening gatherings. The master suite offers private patio access, while the oversized laundry room and ample storage ensure practicality. Best of all, everything in the home is included, making it truly move-in ready. Your dream home awaits!

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1427 W Via Del Oro -- Queen Creek, AZ 85140

$600,000

2 Beds

2.5 Baths

2,158 SqFt

Status Active

MLS # 6785926

Property Type Single Family Residence

Price Type --

Discover this beautifully upgraded 2-bedroom + Den, 2.5-bathroom home spanning 2,157 sqft. The open-concept great room is perfect for entertaining, complemented by a private master suite with a spacious walk-in closet. Recent enhancements (July 2023) include stylish pendant lights, high-quality overhead fans, plantation shutters, Hunter Douglas vertiglide for the sliding door, and custom paint. The backyard is an entertainer's dream with turf, paver accents, a BBQ platform, automatic lighting, and lush landscaping. The garage boasts ample storage with cabinets and overhead bins, plus app-controlled access. Modern appliances, upgraded finishes, and smart features elevate this home - it's better than new and completely turn key!

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10439 W Cashman Drive Peoria, AZ 85383

New

$600,000

5 Beds

3 Baths

3,098 SqFt

Status Active

MLS # 6787973

Property Type Single Family Residence

Price Type --

***FREE 1% RATE BUYDOWN FOR THE FIRST 12 MONTHS *** A MESSAGE FROM THE SELLERS '' We loved the size and layout of this house! The huge primary suite was what really sold us! The neighborhood is amazing and close to everything we needed with Lake Pleasant shopping and entertainment district so close by! The schools are top rated and that was important to us!'' Welcome to a home that perfectly blends spacious living with an unbeatable location. Situated in the sought-after Casa del Rey neighborhood, this property offers a huge layout designed to fit all your lifestyle needs. Whether you're hosting gatherings, creating a home office, or just enjoying everyday moments, the space is yours to make your own. Living here means being part of an amazing community with access to top-rated schools in the Peoria Unified School District. Just minutes away, you'll find the Lake Pleasant shopping and entertainment district, filled with dining, shops, and fun activities for all ages. And for those who love the water or a day outdoors, Lake Pleasant Marina is just a few short miles away, ready for your next adventure. Don't miss the chance to make this incredible home and neighborhood your own!

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1178 E Betsy Lane Gilbert, AZ 85296

$600,000

4 Beds

2 Baths

1,642 SqFt

Status Active

MLS # 6779119

Property Type Single Family Residence

Price Type --

A RARE FIND IN GILBERT! 3CAR GARAGE+RV GATE WITH POOL & 2017 AC UNDER 600K! THIS GREAT HOME FEATURES AN OVERSIZED BACKYARD BOASTING A LOVLEY POOL,ABOVE GROUND REDWOOD SPA,LARGE GRASS SPACE, SATIO TILE COVERED PATIO W/MISTERS.MATURE LANDSCAPE W/FRUIT TREES ALONG WITH EXTENDED PATIOS & WALKWAYS! AMPLE SPACE BEHIND THE RV GATE FOR TOYS. YOUR BUYERS WILL ENJOY THE HIGH VAULTED CEILINGS & OPEN FLOORPLAN! ALL OF THIS WITH AN INCREDIBLE GILBERT LOCATION CLOSE OF SOME OF THE BEST SHOPPING, DINING & ENTERTAINMENT IN THE EAST VALLEY!

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2705 W Summit Place Chandler, AZ 85224

$600,000

3 Beds

2 Baths

1,703 SqFt

Status Active

MLS # 6769650

Property Type Single Family Residence

Price Type --

This highly sought-after home, perfectly situated on a prime corner lot, is ready to be yours! The beautifully updated interior showcases fresh neutral paint, tile flooring, and newer windows that fill the space with natural light. Relax or entertain in the cozy living room, complete with newer carpet. The inviting great room features sliding glass doors that lead to the back patio, creating a seamless indoor-outdoor living experience. The gourmet kitchen boasts stainless steel appliances, ample cabinetry, granite tile countertops, and a two-tier island with a breakfast bar. Double doors open to the main bedroom, featuring plush carpeting, a spacious walk-in closet, and an ensuite bathroom with dual sinks and a luxurious floor-to-ceiling tiled shower. The delightful backyard offers a covered patio, artificial turf, and a newer saltwater pool system, newer pump, filter, Pebble Tec finish, LED lighting, and cool deckingperfect for enjoying warm summer days. Don't miss out on this unique gemit will go fast!

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14971 W Pinchot Avenue Goodyear, AZ 85395

$600,000

3 Beds

2.5 Baths

2,810 SqFt

Status Active

MLS # 6736779

Property Type Single Family Residence

Price Type --

ALL the major items replaced!! Complete Roof replacement 2020. New Induction cooktop. Bosche dishwasher,Washer/Dryer LG approximately 6 yrs young, HVAC 2-zone w/filtration system (Trane)12 yrs. Hot Water heater 2022. OWNED SOLAR 48 panels, 7.8 kW! Home offers fantastic spaces for all! As you enter you will be greeted with a spacious foyer and 2 flex rooms with vaulted ceilings and large windows allowing natural lighting to shine in! Kitchen offers a phelora of cabinets and counter spaces, informal eating area, open to the space great room with a wall of shelves and even a library ladder, and both areas have easy access to the outdoor living area and heated swimming pool with water feature. Covered patio with additional pergola!! Extensive LED landscape lighting both (click more) in both back and front yard. Home offers 2 bedrooms with private bathrooms and another guest room. Primary bedrooms presents 2 walk-in closets, bath with separate shower/bathtub, dual sinks and linen closet! Laundry room w/LG appliances, built-in cabinets and counters, and additional space for perhaps an extra fridge? 3 full car attached garage. Lots of potential and great back /side yard. PebbleCreek is an award winning Active Adult Commuity with something for everyone to enjoy! 3 Golf Courses, Pickleball, tennis, Indoor/outdoor swimming pools, restaurants, fitness centers, and so much more! Be sure to put this home and community on your must view list!

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13721 W Aleppo Drive Sun City West, AZ 85375

$600,000

3 Beds

3 Baths

2,103 SqFt

Status Active

MLS # 6783853

Property Type Single Family Residence

Price Type --

Welcome to your FURNISHED dream home in Sun City West. Perfectly situated on the Grandview Golf Course with beautiful views. Enjoy this completely remodeled home w/ open layout, soaring vaulted ceilings, recessed lighting, stylish wood-look flooring, & a cozy fireplace. This kitchen w/ a view boasts granite counters, beautiful cabinetry with crown moulding, pendant lighting, SS appliances, large island with a breakfast bar. You'll also find a den/craft room that provides a versatile space. The main bedroom includes a quaint sitting nook, an ensuite with double sinks, steam shower & a walk-in closet. 2 more bedrooms, one is set up for wheel chair access into the walk in shower. Outdoors space offers: covered patio, pavers, and a serene view of the golf course. New Roof and HVAC 2023

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3256 S Emery Circle Mesa, AZ 85212

$600,000

4 Beds

2 Baths

2,162 SqFt

Status Active

MLS # 6784040

Property Type Single Family Residence

Price Type --

Welcome home to your oasis in the desert! Very well maintained & updated 4 bedroom, plus a den, 2 bathroom, 2162sq ft home. Large bedrooms with no interior steps. Great outdoor space with sparkling pool for entertaining. Smart home technology with owned security system. RV gate to store your boat or RV. Everything has been meticulously maintained from the new patio roof(2023) to the 3 car epoxy coated garage floor. Completely remodeled gorgeous master bath, walk in shower designed for 2 with separate soaking tub. New appliances(2022). And so much more!

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