A good credit rating is built on a number of financial factors including paying your bills on time and the length of your credit history, but loans can also be a source of bolstering your credit score in a positive way. While this means that loans can actually be a good thing, there are also the kinds of loans that can have a damaging impact on acquiring a mortgage. If you’ll soon be pursuing your own home purchase, here are some loans that may have a negative impact.
Borrowing For Education
When you are young, student loans are an ideal means of paying down your debt and developing a positive credit history. However, if these loans are left to linger they can have a marked effect on your chances of a mortgage approval. Since paying back your student loans will be one of the first times in your financial life that you’ll be able to prove your reliability, you should ensure you pay them on a consistent basis in order to lower your overall debt-to-income ratio.
Credit Card Debt
Many people don’t think of the purchases that go on their credit card as loans, but the money on your credit card does not really belong to you until it’s paid off. While credit cards can be a great boon for establishing your credit in the early days, if you rack up a lot of credit card debt and do not pay your minimum payments by the due date, it will cause a considerable dip in your credit score. In addition, taking on too many cards can be a negative signal to lenders.
Payday Loans
In recent years, payday loans have sometimes been broken out separately from other loans on a person’s credit report. However, unlike many other types of loans, payday loans can be seen in a bad light by lenders because they can be indicative of someone who’s experienced significant financial setbacks, which would negatively impact their ability to pay a mortgage. While some mortgage lenders will not decline an application due to payday loans, some have already started to take this step.
Acquiring loans can be a good means of developing a credit history, but there are types of loans that may look bad on your mortgage application and won’t be of service if you can’t pay them off consistently. If you’re considering submitting a mortgage application, give me a call for more information – J.P. Cook – 602-320-4253.
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655 S Del Rancho Circle
Mesa, AZ 85208
$499,000
4
Beds
2.5
Baths
2,012
SqFt
Status
Active
MLS #
6444567
Property Type
Single Family Residence
Price Type
--
$18,000 in Builder Incentives(must use Preferred Lender)for a Buyer to use on this NOW COMPLETED Inventory home! This home has 4 bedrooms PLUS a Loft! 42'' Shaker Style cabinet in Ash color and Granite Countertops! 12X24 tile on entire first floor, 8' tall doors on first level, Walk in Shower in Master Bath! Diamond Court, built by Newmark Homes, is an 18 home community nestled in a prime location in Mesa with lots of new retail/restaurants close by!
18813 E Loma Vista Drive
Rio Verde, AZ 85263
$499,000
4
Beds
2
Baths
1,933
SqFt
Status
Active
MLS #
6632241
Property Type
Single Family Residence
Price Type
--
Your dream home is finally here! Discover this gorgeous turn-key property nestled in the highly desired 55+ Rio Verde Community. You are greeted by an enchanting interior featuring high ceilings, gleaming wood-look floor, modern recessed lighting, soothing palette, and a remarkable fireplace. The beautiful kitchen boasts wood cabinetry adorned with crown moulding, stainless steel appliances, and quartz counters. Primary bedroom offers plush carpet in all the right places, an immaculate ensuite with quartz dual sinks, and a walk-in closet. Completely updated. Enjoy spectacular mountain views from the charming backyard showcasing covered patios and an easy-care desert landscape! Walking distance to community ammenities. Don't miss it.
12575 W Midway Avenue
Glendale, AZ 85307
$499,000
4
Beds
2.5
Baths
2,576
SqFt
Status
Active
MLS #
6681240
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning, brand new 4-bedroom home in the esteemed Marbella Ranch community, just 4 miles from Westgate Entertainment District! This home is a true masterpiece, boasting modern features and luxurious upgrades throughout. This home enjoys abundant natural light and a comfortable living environment. Step inside and be captivated by the bright and open kitchen, adorned with pendant lights and elegant white cabinets. The upgraded flooring and new plush carpeting create a sense of warmth and sophistication. The kitchen is a chef's delight, featuring exquisite countertops, a stylish backsplash, and a fresh coat of white paint that enhances the interior's brightness. Equipped with stainless steel appliances including a microwave, range oven/stove, dishwasher & refrigerator More..
3285 Rising Sun Ridge
Wickenburg, AZ 85390
$499,000
2
Beds
2
Baths
1,612
SqFt
Status
Active
MLS #
6587770
Property Type
Single Family Residence
Price Type
--
Discover the perfect blend of modern elegance and resort-style living in the Juniper model at Wickenburg Ranch. This two-bedroom, two-bathroom home comes complete with a spacious two-car garage, upgraded appliances, and a convenient walk-in pantry. The open floorplan creates an inviting ambiance, while the work station in the kitchen adds practicality to your daily routine. Experience the ease of keyless entry and enjoy the tranquility of the well-maintained landscape in your private backyard. Situated in the sought-after Wickenburg Ranch community, with its championship golf courses, fitness centers, and social events, this home offers the perfect balance of relaxation and excitement. Embrace the Arizona lifestyle at its finest in this captivating Juniper model.
19697 N Aubrey Circle
Maricopa, AZ 85138
$499,000
4
Beds
2.5
Baths
2,169
SqFt
Status
Active
MLS #
6686500
Property Type
Single Family Residence
Price Type
--
Welcome home - you won't want to leave. Beautifully upgraded home on large cornet lot featuring highly upgraded kitchen with contemporary colors, granite countertops, high end appliances, pendant lighting, vaulted ceilings, plantation shutters, tile flooring, split 4 bedroom floor plan, large primary bedroom with walk in shower and oversized closet, and tree car garage with pavered driveway, but it is the backyard oasis you will want to spend most of your time ... large pool with water feature, extended covered patio, corner lot for privacy and an east facing back yard allowing for summer shade and more enjoyment. All located in the desired subdivision of The Villages featuring large recreational swimming pool for the kids, lap pool, work out facility, and splash pad. Come by today
2525 N Riverside Drive
Florence, AZ 85132
$499,000
3
Beds
2
Baths
1,933
SqFt
Status
Active
MLS #
6676532
Property Type
Single Family Residence
Price Type
--
THIS STUNNING PULTE HOME is located in the Merrill Ranch Odyssey community of Anthem. Home is highly upgraded and barely lived in. Most of the furnishings, household essentials, and electronics are INCLUDED! This home offers a serene desert oasis with breathtaking views from nearly every room. There are no homes directly behind or on one side of the property, providing maximum privacy. The gated courtyard patio and large back patio are perfect for entertaining. The Arroyo floor plan is spacious and features 3 generously sized bedrooms and 2 well-appointed bathrooms. The kitchen is perfect for any chef and comes equipped with quartz counters, a gas cooktop with stainless hood, a wall oven, and a huge walk-in pantry. Staggered cabinets w/pull-outs and large island/breakfast bar. OWNER/AGENT The Owners Suite is a true retreat; featuring a HD flat-panel TV, a cozy electric fireplace, and an upgraded bathroom with dual sinks and a large step-in shower. Energy saving features include Low-E, tinted windows and sunscreens on west-facing windows. You can also enjoy numerous community amenities in the state-of-the-art clubhouse, including swimming, water slides, a fishing lake, a playground, and the Poston Butte Golf Course.
2833 Hidden Meadow Lane
Bisbee, AZ 85603
$499,000
3
Beds
2
Baths
2,196
SqFt
Status
Active
MLS #
6651882
Property Type
Single Family Residence
Price Type
--
Two parcels include almost 27 acres. Parcels 11057013 & 012. Located about 10 mins from Old Bisbee. Slump block home was built in1984. The upstairs is in renovation state. No further work will be completed. Two stories, main living area upstairs. Downstairs, has Two bedrooms divided by a Jack and Jill Bathroom. Access from downstairs to upstairs, either by interior elevator or exterior spiral staircase. To access the front door, on the upper level, a foot bridge was built through the trees. Upstairs, in the main living area, a traditional Russian brick fireplace. Huge oaks, boulders, and incredible topography can be appreciated from the deck. During Monsoons, the waterfall generates water through the properties creek, fills a man-made pond and hand dug well. Seller will carry short term.
2342 E Delgado Street
Phoenix, AZ 85022
$499,000
3
Beds
2
Baths
1,702
SqFt
Status
Active
MLS #
6659389
Property Type
Single Family Residence
Price Type
--
A fantastic family home in the heart of Phoenix. This beautifully updated residence is adorned with charm and offers a perfect blend of comfort and style. This home boasts distinctive curb appeal, highlighted by two mature trees in the front yard and a vast backyard that opens up a world of possibilities. You have a lemon tree, grapefruit tree, and orange tree. Centrally located near the 51 and North Central, convenience is at your doorstep.
12610 N 41st Drive
Phoenix, AZ 85029
$499,000
3
Beds
2
Baths
1,468
SqFt
Status
Active
MLS #
6678767
Property Type
Single Family Residence
Price Type
--
NO HOA!! MAGNIFICIENT GEM. This house is perfect. Fully replaced roof 2019. Newly installed tankless water heater in 2023 with owned soft water system in 2022. Brand new carpet in living room and master bedroom. Pool has a brand new variable speed pump in 2023. Owners spared no expense creating 2 RV gates with concrete slab, electric and dump. Built in garage cabinets for tons of storage with epoxy floors. Garage is plumbed for compressed air to outside lift area that has a 10,000 pound Benpak lift including epoxy coated concrete for easy clean up. Exterior custom built shed has electric, lighting, ceiling fan, epoxy floors, and is fully insulated with attic storage. Fresh paint inside and out including the shed. Networking throughout. This house won't last long. OWNER AGENT
26033 W Sierra Pinta Drive
Buckeye, AZ 85396
$499,000
3
Beds
2.5
Baths
2,669
SqFt
Status
Active
MLS #
6665078
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the Festival Foothills, where luxury and comfort seamlessly blend in this former builder ''show home.'' This exquisite single-level residence boasts 3 bedrooms, 2.5 baths, an office, a family room, and a den, providing the perfect canvas for a harmonious and versatile living experience. As you approach this meticulously crafted home, you'll be captivated by its stunning curb appeal. Step through the front door into a world of refined living, where every detail has been carefully considered. This home is conveniently located near a school, making it ideal for families. Golf enthusiasts will appreciate the proximity to the nearby golf course, while parks and walking trails provide opportunities for leisurely strolls and outdoor activities.
5450 E Mclellan Road
Mesa, AZ 85205
$499,000
3
Beds
2
Baths
1,803
SqFt
Status
Active
MLS #
6668321
Property Type
Apartment
Price Type
--
Welcome to ''The Sanctuary'' in peaceful setting of Alta Mesa Resort Village, one of a kind, private-gated community in North Mesa. Created as a Winter getaway for Owner/family. Seller has spent 5 years handpicking the finest furnishings & updates to his award winning & visionary taste. Every detail has been attended to, making this lovely home a perfect turnkey ''Sanctuary'' for those who are looking for more than just a ''place to eat/sleep'' Unique/Custom floorplan w/ more upgrades than any home in here maximizing space & efficiency. Completely NEW HVAC system! New Tankless water heater! Quartz counters w/ waterfall & Custom Glass bfast bar! Frosted glass doors, Picture Tv's everywhere! SuperSmart home w/ ALL AUTOMATED! 1 HUB/7dots to serve your every command. HOA=water/sewer/cable/wrk
15252 N 100th Street
Scottsdale, AZ 85260
$499,000
3
Beds
2
Baths
1,607
SqFt
Status
Active
MLS #
6683686
Property Type
Apartment
Price Type
--
Welcome to this spacious and inviting 3-bedroom, 2-bathroom condo nestled in the heart of Scottsdale. Upon entry, you'll find a well-designed floor plan that seamlessly combines comfort and functionality. The living area boasts ample natural light and a cozy ambiance, perfect for relaxing or entertaining guests. The modern kitchen is a highlight, featuring sleek countertops, beautiful appliances, and plenty of cabinet space for storage. The adjacent dining area is ideal for family meals or intimate gatherings. The primary bedroom is a private retreat, complete with a walk-in closet and an en-suite bathroom featuring dual sinks and a luxurious shower. The two additional bedrooms are generously sized and offer flexibility for use as guest rooms, a home office, or a hobby sp hobby space. Step outside to one of two private balconys and enjoy a peaceful outdoor oasis, perfect for morning coffee or evening relaxation. Residents of this community enjoy access to fantastic amenities, including a refreshing pool, a tennis court, and beautifully landscaped grounds. Conveniently located, this condo is just minutes away from shopping centers, dining options, parks, and recreational activities, offering the best of Scottsdale living at your fingertips. Don't miss the opportunity to make this condo your new home. Schedule a showing today and experience its charm and comfort firsthand! All furniture currently in the condo is included in the sell!!
