If you have a good credit history and are prepared to invest in a home, you may be feeling pretty confident about the mortgage process. However, it’s important to be aware that there are things that can have a negative impact on your application. Whether you’ve just submitted your documents or are getting close to it, here are some things you may want to avoid.
Acquiring New Credit
It may seem silly that something as minor as a new credit card can be a mark against your credit, but applying for new ones can be a bad sign to lenders. The problem is that this can be signal an unmanageable debt load, so you may be considered a high risk for not being able to make your payments.
Forget To Pay Your Bills
It’s easy enough to get lulled into the feeling that your mortgage application will be approved, but this doesn’t mean that you should forget your financial responsibilities. If you’ve had poor credit in the past and neglected paying your bills on time, now is not the time to do this. Instead, ensure that you’re paying all bills and any applicable minimum payments in advance of the due date so your credit score is not impacted.
Close Old Credit Cards
Many people think that closing out old credit cards can be a positive financial step forward and a good way to streamline their finances, but this can cause damage to your credit score. Because closing a credit card will change your available balance and bump up your debt load, it may mean that your debt percentage will increase. Instead of risking this, leave them active until you’ve received approval.
Quit Your Job
Few people will have the ability to quit their job when they’re applying for a mortgage, but doing this or incurring other fluctuations in your monthly income can cause problems with your application. If you are self-employed, there may be peaks and valleys in your finances, but a huge shift in what you bring home can show lenders that you’re not a solid bet.
There can be a lot of stress that comes along with the mortgage application process, but by paying your bills on time and staying on top of your payments, you can avoid negatively impacting your approval. To start your home search, give me a call – J.P. Cook – 602-320-4253.
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7709 N 18th Avenue Phoenix, AZ 85021
Open House
$505,000
3
Beds
2
Baths
1,349
SqFt
Status
Active
MLS #
6687048
Property Type
Single Family Residence
Price Type
--
Welcome home to this charming property that boasts a cozy fireplace, a soothing natural color palette, and a spacious center island in the kitchen. You'll love the nice backsplash in the kitchen, and the other rooms offer flexible living space to suit your needs. The primary bathroom features good under sink storage, and the fenced in backyard is perfect for privacy. Enjoy the private in ground pool and covered sitting area in the backyard, ideal for outdoor entertaining. With fresh interior paint and new flooring throughout the home. Don't miss out on this wonderful opportunity!
12131 W Marguerite Avenue Avondale, AZ 85323
$504,990
4
Beds
2.5
Baths
2,142
SqFt
Status
Active
MLS #
6454131
Property Type
Single Family Residence
Price Type
--
Castellano - Linen cabinets throughout the home and stunning AZT Della Terra Aluminum quartz kitchen countertops including the enhanced island. 8' interior doors, 12x8 sliding glass door off the great room and leads to your covered patio. Upgrade flooring includes 18x18 tile in all areas except the bedrooms & closets and so much more. Seller to write contract and to verify all information with our onsite agents.
2628 E Hollywood Ike Avenue San Tan Valley, AZ 85140
$504,990
3
Beds
2.5
Baths
2,178
SqFt
Status
Active
MLS #
6679011
Property Type
Single Family Residence
Price Type
--
Located in San Tan Valley, this adorable single story, 2178 square foot residence boasts a meticulously designed living space. Crafted with a keen eye for both style and functionality, this home harmoniously blends modern elegance with timeless comfort. This home seamlessly integrates open-concept living, featuring a den, 4-panel center sliding glass door, a large kitchen adorned with quartz countertops and stainless steel appliances. The expansive owner's suite includes dual vanities in the bathroom and a large walk-in closet. Additional bedrooms offer ample space for family or guests, each thoughtfully designed with comfort in mind. Complete with a 4-car garage, two car tandem and a super garage, this residence represents the epitome of ideal living.
9726 W Albeniz Place Tolleson, AZ 85353
$504,990
5
Beds
4.5
Baths
3,131
SqFt
Status
Active
MLS #
6701782
Property Type
Single Family Residence
Price Type
--
Beautiful Brand New Home in a Highly Desirable West valley location. Under Construction - Est Completion August. Features countless upgrades such as 9' ceilings, Shaw 17x17 Tile, Granite countertops in the kitchen. Whirlpool Stainless steel appliances. White shaker cabinets with Stainless Steel Pulls. Energy-efficient features throughout, WIFI & programmable thermostat. Spacious walk-in closet in the primary suite. Front yard landscaping, covered patio in the backyard. Spectacular Mountain Views! The community features a greenbelt, a premium neighborhood park with playground. Conveniently located near the new 202 freeway, schools, shopping and dining, and Estrella Mountain Regional Park.
17338 W Columbine Drive Surprise, AZ 85388
$504,990
3
Beds
2
Baths
1,987
SqFt
Status
Active
MLS #
6702487
Property Type
Single Family Residence
Price Type
--
Stunning and spacious home... Our Belice has 3 bedrooms + flex space to use as a study area, craft room or as you wish, 2 baths and a 3 car garage. Extended covered patio perfect for entertaining and a 12'x8' sliding glass door in the great room. Walk-in shower at owner's bath with tile surrounds. Enhanced kitchen island with 42'' uppers in the kitchen, pull out trash drawer and rollouts at pantry. Stainless steel appliances with gas range. AZT Hana Sky Quartz countertops in kitchen with a stainless steel undermount single bowl sink. DT Broxburn Gray 6x24 Plank tile in all areas of the home except bedrooms & closets. Painted ''Boulder - Gray'' cabinets throughout with 42'' kitchen uppers. Garage service door, 8' tall door with remotes. Estimated completion in July.
41050 W Agave Road Maricopa, AZ 85138
$504,990
4
Beds
3
Baths
2,142
SqFt
Status
Active
MLS #
6632217
Property Type
Single Family Residence
Price Type
--
STOP THE CAR... This Castellano is stunning and ready for you to move in. It has 4 bedrooms, 3 baths and 3 car tandem garage. 12x8 sliding glass door off the covered patio great for entertaining. Large walk in shower at owner's bath with tile surrounds. Stainless steel gas range. Benton ''White'' cabinets throughout the home with rollouts at pantry. AZT Della Terra quartz countertops in kitchen, enhanced kitchen island and in owner's bath. 8' interior doors. Additional recessed can lights in kitchen and prewire for pendant lights in kitchen. Upgrade flooring includes level 5 carpet in bedrooms and closets. EMS Cabo II 18x18 tile in remaining areas of the home. Dual sinks at bath 2. We've also added pre-plumb for soft water, gas stub for future BBQ and so much more. Seller to write contract and to verify all information with onsite agents. Water Company is Santa Cruz Water Company and Sewer is Palo Verde Utilities Company.
17463 N 66th Avenue Glendale, AZ 85308
$504,900
3
Beds
2
Baths
1,832
SqFt
Status
Active
MLS #
6645957
Property Type
Single Family Residence
Price Type
--
FINAL CLOSE OUT!! ** LAST LOT REMAINING * * Discover the hidden enclave of new homes at Campana Trails. This collection of 21 single-family homes nestled along the scenic Skunk Creek Trail in Glendale offers a perfect blend of serenity and convenience. Priced affordably in the low $500s. This 3-Bedrooms, 2.5 baths and 1832sq ft has no stairs or steps, with a bright, open Great Room (optional wall of sliding doors to covered patio); Be the envy of your friends and family with this amazing kitchen, with oversized island, walk in pantry, 42'' upper cabinets—all open to the Great Room with lots of light!
4641 N 178th Lane Goodyear, AZ 85395
$504,490
4
Beds
3
Baths
2,384
SqFt
Status
Active
MLS #
6695634
Property Type
Single Family Residence
Price Type
--
Brand new, energy-efficient home available by Jun 2024! A unique single-story home featuring a social living area. Umber cabinets with white granite countertops and backsplash. Grey tile flooring in our Cool package. Abel Ranch is now open in Goodyear. Visit this gated community featuring a park, fitness stations, and more. We're proud to introduce new, professionally curated design packages and luxurious primary suites. We also build each home with innovative, energy-efficient features that cut down on utility bills so you can afford to do more living.* Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.
1226 W Park Street Phoenix, AZ 85041
$504,000
5
Beds
3
Baths
2,801
SqFt
Status
Active
MLS #
6693462
Property Type
Single Family Residence
Price Type
--
Move in ready! Updated kitchen with white cabinets and full height subway tile backsplash! Main floor den/bedroom with French door entry. Full bath on main level. 5 additional bedrooms upstairs - including en suite primary with large walk in closet! Updated paint, luxury vinyl plank flooring throughout, ceiling fans in all the bedrooms. Large lot with covered back patio, turf, and plenty of opportunities to make it your own! Community has parks and play area.
4566 N 178th Lane Goodyear, AZ 85395
$503,990
4
Beds
3
Baths
2,384
SqFt
Status
Active
MLS #
6694799
Property Type
Single Family Residence
Price Type
--
EXCLUSIVE opportunity to be one of the first to move in to Abel Ranch. This premium gated community at Camelback and the 303 is in the perfect location to enjoy peaceful living while being close to amenities. Plus, price increases with every phase ensure you walk into equity opportunity with this lovely home. Lot is tucked in the side of the community with no neighbors behind and mountain views from your backyard. You want this lot! It's adjacent to a wash and will have access to community walking trails and be within view of the large park. Lark Plan features generously sized flex space. Package for Lot 1 includes 42'' White Cabinets, Sparkling Quartz Countertops, English Grey tile everywhere you want it with plush carpet where you need in. Contact listing agent to learn about incentives
37926 N Neatwood Drive San Tan Valley, AZ 85140
$503,990
5
Beds
4.5
Baths
3,131
SqFt
Status
Active
MLS #
6699245
Property Type
Single Family Residence
Price Type
--
Beautiful NEW Home in PRIME San Tan Valley location, close proximity to Queen Creek and other major cities. JULY 2024 MOVE-IN! Prime lot bordering common area, overlooking scenic desert views. Featuring countless upgrades such as 9' ceilings, Shaw Ceramic Tile Floors, Granite countertops in the kitchen. Whirlpool Stainless steel appliances and white cabinetry. Washer and Dryer included. Energy-efficient features throughout, Wi-Fi & programmable thermostat, and electric range. Spacious walk-in closet in owner's suite! Front yard landscaping with irrigation included and generous covered patio in the backyard. Minutes from hiking trails and scenic mountain views! Fantastic proposed amenities include community lake, parcourse stations, bike loops and racks, ramadas, shaded play structures, great park area including large community pavilion, BBQ grills, picnic tables, pickleball court and open space areas. Located near Queen Creek, highly rated schools and easy access to shopping centers, dining options and entertainment venues.
15936 W Kino Drive Surprise, AZ 85374
$503,900
2
Beds
2
Baths
2,403
SqFt
Status
Active
MLS #
6626604
Property Type
Single Family Residence
Price Type
--
HUGE PRICE REDUCTION!!!! Beautiful expanded Verbena model in the resort style living of The Grand. This beautiful home has been remodeled and is very inviting with its fully remodeled kitchen, bathrooms and other living areas. This home also has fresh exterior paint that was completed in 2022. In the kitchen there is all new cabinets, appliances, granite countertops and tile backsplash. The gourmet kitchen in this home is stunning! The expansive master bath has been completely remodeled as well with new cabinetry, walk in tiled shower, granite countertops and mirrors. The guest bathroom has been remodeled as well! New flooring throughout the home with a combination of gorgeous tile and premium carpet and padding! There is a bonus room on the rear of the house that is climate controlled. Beautiful expanded Verbena model in the resort style living of The Grand. This beautiful home has been remodeled and is very inviting with its fully remodeled kitchen, bathrooms and other living areas. This home also has fresh exterior paint that was completed in 2022. In the kitchen there is all new cabinets, appliances, granite countertops and tile backsplash. The gourmet kitchen in this home is stunning! The expansive master bath has been completely remodeled as well with new cabinetry, walk in tiled shower, granite countertops and mirrors. The guest bathroom has been remodeled as well! New flooring throughout the home with a combination of gorgeous tile and premium carpet and padding! There is a bonus room on the rear of the house that is climate controlled and finished to interior standards. The extended garage leaves ample space for larger vehicles and a golf cart. Put this home on your must-see list! Current owner would consider a 3-6-month lease back.