Buy a Home NOW with a 3% Down Payment or LESS!

Again… You Do Not Need 20% Down to Buy NOW! | Simplifying The Market

A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today.

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 40% of consumers think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO® Scores 

The survey also revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in February had a credit score of 752, while FHA mortgages closed with a score of 686. The average across all loans closed in February was 720. The chart below shows the distribution of FICO® Scores for all loans approved in February.

Again… You Do Not Need 20% Down to Buy NOW! | Simplifying The Market

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, let’s sit down to help you understand your true options.  Give me a call – J.P. Cook – 602-320-4253.

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9762 E Covey Trail Scottsdale, AZ 85262

$7,500,000
5 Beds
5.5 Baths
7,805 SqFt
Status Active
MLS # 6675745
Property Type Single Family Residence
Price Type --
Scenic elevated ~10 acre Santa Barbara estate with breathtaking views of the Valley of the Sun, fabulous Sunsets and City Light Views can be yours forever. This home features 2 separate Guest Houses, 4 car garage, Great Room, Media Room, 2 offices, wet bar, wine room, and 5 En-suite Bedrooms all on 1 level + Exercise Room on Lower level. Lushly landscaped patios and grand-view pool deck are graced by 3 sparkling water features and Juliet balcony. Main home 3 En-suite Bedrooms open to interior courtyard w/water feature. Every possibility for seamless, indoor/outdoor living has been thoughtfully designed into this High Sonoran Retreat. Golf Membership available to transfer from Seller and furnishings excluding art are available under separate Bill of Sale.

33094 N Northstar Circle Scottsdale, AZ 85266

$7,500,000
5 Beds
6.5 Baths
7,460 SqFt
Status Active
MLS # 6677713
Property Type Single Family Residence
Price Type --
Contemporary Desert Modern design, nestled within the Whisper Rock Estates community for a secluded experience, is an estate to-be-built with plans & permit ready for review & approval with the city. Designed in collaboration with renowned architect Platinum Design Studio, Misty Cowan Dwelling Design & to be brought to life by luxury builder Banner Built Custom Homes, this stunning project gives you an opportunity to work directly with the design team to make your custom selections throughout the process or proceed with selections already chosen by Dwelling Design. Situated on a 1.12-acre homesite in an exclusive guard gated North Scottsdale community, the southwest facing property offers incredible views of rock croppings outlined by Arizona sunsets. Featuring 7460 sqft of single-story living, the 6557 sqft main residence offers 4 bedrooms, exercise room & flex room with an expansive kitchen & great room. Floor-to-ceiling windows overlook your resort style backyard offering a pool, spa & water features with the natural beauty of the Sonoran Desert, Winfield Mountain & distant Chiricahua Mountain views beckoning. A wet bar with retractable glass, ample covered patio space with fireplace, & an outdoor kitchen with barbeque make indoor / outdoor entertainment seamless & the ultimate experience in luxury living. The spacious primary suite offers rest & rejuvenation with a Zen-like bathroom complete with Copenhagen cabinets, limestone counters, marble shower, dual water closets & freestanding soaking tub. Visitors have their own separate 903 sqft sanctuary for unwinding with a 1-bedroom guest home, including kitchen & living room, tucked away for privacy. Premium finishes, such as a Wolf & SubZero appliance package, flow throughout the estate. Not to be overlooked, your luxurious collection of cars have their own haven with a 5-car garage & ample parking space to call home.

6107 E Paradise Drive Scottsdale, AZ 85254

$7,500,000
7 Beds
10 Baths
13,700 SqFt
Status Active
MLS # 6695054
Property Type Single Family Residence
Price Type --
Welcome to the deal of the century. This estate boasts 1.6+ acres, 13,700square feet, 7 bedrooms, 10 bathrooms, 11 fireplaces, tennis court, outdoor paradise, and panache that will exceed your expectations. Truly too much to capture, so plan a visit to see this one. 8 car garage with motorcade entry. Castle esque doors in the main entrance with an impressive entryway and massive chandelier. Your eye will take you right to the resort in the backyard with a 1,300sf pool, water features galore, and hot tub to boot. Amazing entertaining areas out back with a gazebo, outdoor kitchen, tennis, spa, pool, large grass area, and a covered patio with fitness equipment just outside the yoga/fitness studio. Too much to list! Come see this gorgeous estate for yourself. Welcome home!

29599 N 106th Place Scottsdale, AZ 85262

$7,500,000 - 6Br/7Ba -  for Sale in Talus At Troon North, Scottsdale
New
$7,500,000
6 Beds
6.5 Baths
9,335 SqFt
Status Active
MLS # 6707398
Property Type Single Family Residence
Price Type --
Welcome to luxury living at its finest in the prestigious Talus at Troon North community of North Scottsdale! This remarkable 9,335 square-foot home built in 2022 is nestled on a nearly 1-acre lot, providing ample space for your dream lifestyle. This impeccable full custom, southwest contemporary home seamlessly blends indoor and outdoor living, featuring a luxurious heated waterfall negative edge pool and spa with travertine and artificial turf surround. The expansive patio areas, a 793 square foot walkout deck, and stunning views of the Sonoran sunset create a perfect setting for entertaining. The gourmet kitchen is a culinary masterpiece with two oversized islands, upgraded granite slabs, Thermador/Wolf appliances, an oversized 60 sink with dual Grohe faucets, reverse osmosis water filtration, two dishwashers and a butler's pantry with sink, counter space, beverage center, and additional storage,. The kitchen opens to the living area, providing an ideal space for gatherings. The oversized master suite features a 2-way fireplace, a generous soaking tub, and a spacious glass surround shower with dual six jet shower panels. Access the view deck and pool through a commercial glass door leading to the deck. The master closet, a haven for fashion enthusiasts, includes shoe shelves, island storage, and built-in drawers, seamlessly connected to the laundry area equipped with two washers and two dryers. With an expansive floor plan featuring six bedrooms including 4 en-suites with walk-in closets, 6.5 baths, dining room, breakfast nook, casual and formal living areas, office, craft room, walkout basement, gym, movie theater with 7.2 surround sound, projector, and a 120 screen, this home is designed for luxury and comfort. Additional features include a game room, 140 bottle wine storage, a whole house water softener, EV charger, an oversized laundry with island and plenty of cabinet space, an artificial turf courtyard with a dog door and enclosed walls for your pet's safety and a attached casita with a kitchenette, bath, and attached garage. The spectacular open floorplan is complimented by an inviting, oversized 12' glass pivot door, 2 enormous sliding glass pocket doors up to 20' wide, ceiling heights up to 16 feet, 3 fireplaces, and architectural block accents. Smart Home features, including 8 exterior security cameras, doorbell, garage doors, selected lighting water heaters, and thermostats, add modern convenience. The four-car garage bays with overhead storage racks, mechanical room and epoxy floors complete this exquisite residence. Don't miss the chance to own this meticulously designed luxurious retreat, where every detail creates a haven of comfort and sophistication.

9735 E Kemper Way Scottsdale, AZ 85255

$7,499,000 - 5Br/7Ba -  for Sale in Silverleaf At Dc Ranch, Scottsdale
Open House
New
$7,499,000
5 Beds
6.5 Baths
7,741 SqFt
Status Active
MLS # 6707268
Property Type Single Family Residence
Price Type --
Step into luxury living at Arcadia at Silverleaf, where this exceptional home stands as the pinnacle of value per square foot in the entire community. Don't miss out on the unparalleled opportunity to own the only NEW build priced under $1,000 per square foot in all of Silverleaf. Nestled within the esteemed boutique gated and guarded community of Arcadia at Silverleaf, this residence offers breathtaking views of the McDowell Mountains and overlooks one of Arcadia's iconic parks. Boasting 7,741 square feet of enchanting living space, sophistication seamlessly merges with tradition as you enter this distinguished home. The gourmet kitchen, a culinary masterpiece, sets the stage for gastronomic delights, while the refined dining area is ideal for intimate gatherings. The expansive living space, featuring 24-foot ceilings, creates a magnificent ambiance for festive celebrations. The luxurious downstairs owner's suite offers a peaceful retreat with a gas fireplace, expansive walk-in closet, and spa-like bathroom. A spacious office with a full bathroom and private patio complete the main level living. With five en suite bedrooms and six and a half luxurious bathrooms, every detail of this residence is meticulously crafted to perfection. Wood flooring, Wolf Appliances, custom cabinetry, and two flex rooms offering versatile spaces seamlessly integrate into the landscape, enhancing the overall appeal of this Silverleaf Estate. More than just a home, this residence promises an unparalleled experiencea testament to extraordinary living in 2024. Beyond a mere house, it's a statementa proclamation of the extraordinary life within the walls of this Silverleaf Estate. Entertain with ease in the alfresco amenities, including a kitchen and bar pass-thru windows, covered patio, enchanting fountains, fireplaces, pool, and spa. Immaculate and timeless, this distinctive property is designed for the most discerning buyers. Embrace a lifestyle of opulence and refinement in this captivating residencea true masterpiece in the heart of Arcadia at Silverleaf.

6825 N 39th Place Paradise Valley, AZ 85253

$7,450,000
4 Beds
4.5 Baths
6,041 SqFt
Status Active
MLS # 6542969
Property Type Single Family Residence
Price Type --
Summer 2024 delivery! New hillside construction, perfectly positioned on a private 1+ acre lot within PV Reserve; an exclusive 24hr guard-gated enclave in Paradise Valley. This Modern Mediterranean hillside residence has majestic sweeping vistas from Camelback Mountain to the twinkling city lights of downtown Phoenix. One of the only hillside homes with a level grass yard. This home has been designed and constructed to maximize the views while also embracing Arizona's indoor / outdoor living style. Spanning 6,041 SF with four ensuite bedrooms exercise studio, and 3-car garage with room for 3-lifts. Separate entrance and covered patio for the guest suite, which is also accessible from the main house. This is the perfect home for a lock and leave or someone who values their privacy. Paradise Valley, Arizona, is a charming town renowned for its exclusive estates, luxury resorts, and stunning desert vistas, framed by Camelback Mountain and Mummy Mountain. Just minutes from Phoenix, the town offers a refined lifestyle with opulent homes, upscale retreats, golf courses, and spa resorts. Strict zoning regulations underscore Paradise Valley's commitment to preserving its natural beauty, creating a harmonious blend of sophistication and the Sonoran Desert environment. This idyllic oasis stands as a testament to the town's unique fusion of luxury living and breathtaking landscapes.

10383 E Rising Sun Drive Scottsdale, AZ 85262

$7,400,000
6 Beds
5.5 Baths
5,814 SqFt
Status Active
MLS # 6671573
Property Type Single Family Residence
Price Type --
5814 sq ft modern home completed in 2020 has walls of glass for seamless indoor outdoor living. Home is fully furnished with 3 en-suite guest bedrooms plus a library/media room & large loft for grandkids. 3 Car Garage with addl 1 ½ bay for a rec room / man cave. A detached guest home with kitchen, living, 2 guest bedrooms, is perfect for when family or friends are in town. Entry water feature has a fire pit & ''floating'' walkway that leads to the entry door. 400 bottle climate controlled wine display at the dining room. Pocketing sliding glass doors in the great room open up to the resort style backyard with a 50 ft pool, deck fountains & spa. Ceiling heaters for winter & misters for summer, 2 firepits & 85'' TV make the backyard the ultimate entertaining space

9015 N Morning Glory Road Paradise Valley, AZ 85253

$7,400,000
4 Beds
5 Baths
5,295 SqFt
Status Active
MLS # 6691280
Property Type Single Family Residence
Price Type --
Welcome to Southwest Glory, a meticulously restored and redesigned Nance masterpiece nestled on a sprawling 1-acre lot in the heart of Paradise Valley. Modern Nest proudly presents this exquisite 4 bedroom, 5 bathroom home (plus casita) boasting 5295 square feet of luxurious living space. Step inside to discover the perfect blend of Southwest charm and design elegance. The original Saltillo tile floors grace the main living areas, while handcrafted wood flooring and artisanal tiles adorn the rest of the home. Experience warmth and ambiance with 4 fireplaces, seamlessly integrating indoor and outdoor living. The gourmet kitchen is a chef's dream, showcasing custom-designed cabinetry, Wolf and Subzero appliances, and expansive windows overlooking the enchanting patio and lush landscaping. Entertain in style with a completely rebuilt/resurfaced pool, new hardscapes, and a resurfaced full-size sport court with commercial lighting. Indulge in the comfort of an oversized library/den complete with custom shelving and a state-of-the-art sound system. The attached guest casita offers a full kitchen, living space, and an additional private bedroom (5 total) with captivating backyard views. Relish in the comfort of a charming breakfast nook with a fireplace and a butler's pantry featuring a wine fridge, handcrafted tiles and custom cabinetry for optimal storage. The oversized mud/laundry room boasts custom cabinetry as well and dual washer/dryer units for added convenience. Outdoor living reaches new heights with multiple patio spaces, fountains, and cozy fireplaces, perfect for alfresco dining and relaxation. Luxurious lighting complements the meticulously restored wood beam ceilings throughout the home. Retreat to the primary suite, where a separate sitting area, fireplace, and large windows frame views of the back patio's limestone fountain. The spa-like ensuite bathroom boasts marble countertops, terracotta tiles, a freestanding bathtub, and a separate shower with steam capabilities, while the expansive closet offers custom built-ins for optimal storage. Additional features include a three-car garage, ample storage, new landscaping, outdoor lighting/sound system, stucco, and paint. Experience the epitome of luxury living at Southwest Glory - where modern sophistication meets timeless charm. Schedule your private tour today!

9264 E Superstition Mountain Drive Gold Canyon, AZ 85118

$7,376,400
5 Beds
5 Baths
12,294 SqFt
Status Active
MLS # 6581604
Property Type Single Family Residence
Price Type --
Beautiful builder lot and a well thought out Luxury home design 360 degree mountain views located in Petroglyph Estates. Luxury planned community at it's finest, fully equipped with Community Pool, Golf & Country Club, Sports Club, Club House, Fitness Classes, Tennis & Pickle Ball Courts, Bocce and Croquet. LOT ONLY OPTION CAN BE PURCHASED FOR $285,000.

5950 W Table Mesa Road New River, AZ 85087

$7,250,000
4 Beds
4 Baths
4,400 SqFt
Status Active
MLS # 6644410
Property Type Single Family Residence
Price Type --
There is one covered R V area with water, sewer, power, additional covered parking, built in horse shade and feeding area, mature trees and landscaping, extensive outside lighting, all underground watering system, over 25 thousand sq. of grass, 20 X 40 ft. swimming pool with cabana and covered patio on main house. The Aqua Fria River flows through this property and has flowing water most of the year. A recently completed synthetic grass driving range with two golf holes and driving Tee boxes at 120yds.. 75yds.. 50yds.. and sand bunkers. Full sized double green, observation deck, various trails all the way to Prescott AZ - off road trails and horse trails. There is room for future development of R V spaces and or single family lots

11987 E Buckskin Trail Scottsdale, AZ 85255

$7,250,000
5 Beds
5.5 Baths
6,505 SqFt
Status Active
MLS # 6488744
Property Type Single Family Residence
Price Type --
Plans are Permit ready and fully approved with the city and ready to break ground on this stunning desert modern prairie estate designed in collaboration with renowned architect Cosan Studio and brought to life by luxury builder Desert Sky Development. Situated on a 2.26 acre cul-de-sac lot in the exclusive gated Troon Canyon Estates, featuring just 11 homesites and unobstructed views. This To Be Built project gives you an opportunity to work directly with the design team to make your custom selections throughout the process. Arrive through your auto-court to your 4 car garage, including an additional full size RV Garage/showroom at the front of property. Featuring 6,505 sq.ft of single-story living, the main residence offers an expansive kitchen and great room with floor to ceiling windows overlooking your resort style backyard and the natural desert beauty and distant mountain views. A wet bar with a retractable glass wall, ample covered patio space with fireplace and outdoor kitchen and BBQ make indoor/outdoor entertainment seamless and the ultimate in luxury living. A private trail leads to a totally secluded 2 bedroom guest casita with full kitchen and living room for any visitors to enjoy their own space away from the main house. Wolf & SubZero appliance package will be included throughout. Please call with any questions on the development.

4880 E Lone Mountain Road Cave Creek, AZ 85331

$7,250,000 - 5Br/7Ba -  for Sale in Seven Sisters Estates, Cave Creek
Open House
$7,250,000
5 Beds
6.5 Baths
8,845 SqFt
Status Active
MLS # 6555234
Property Type Single Family Residence
Price Type --
New Construction-Desert Contemporary Masterpiece - in gated Seven Sisters Estates, set high in the Cave Creek hills offering a private sanctuary w/ lush Sonoran Desert backdrop and commanding views of the Valley, sunsets and city lights. This 5 BR estate w 7 car garage offers the ultimate desert lifestyle with main living all on 1 level. The soaring great room, dining and chefs's kitchen open to a 270* view resort patio. PLUS, an elegant primary suite with spa inspired bath, view gym with steam room, office, entertainer's bar, hidden catering kitchen and 3 BR guest wing. Entry level includes sports-style bar and wine room, billiards and game table. 5 th BR could be theater. 7 car garage can accommodate lifts. Elevator included. Stunning materials and designer touches throughout. Charming main level interior courtyard with water feature is perfect for pets, tikes, morning meditation or quiet fireside cocktails. The stone and stucco exterior punctuated by walls of glass compliment the home's streamlined modern lines. Interior selections of a neutral palate are curated by published Renee Christina Interior Design, and include oak flooring throughout, beautiful stone slabs for fireplaces, kitchen and master bath, designer lighting and fixtures, luxury appliances (WOLF/SUBZERO) and fine cabinetry. This special offering is the first of 5 homes planned by Diamond West for the Seven Sisters Estates enclave of homesites located in a very elevated, secluded and verdant hillside in N Cave Creek, boasting pristine Sonoran Desert flora and fauna, rock outcroppings and 4+ acre sites, with an array of breathtaking of spring wildflowers, and year-round vistas of the area's favorite geological landmarks: nearby Seven Sisters and Elephant Butte, and magnificent McDowell range and Camelback Mountain in the distance. All showings must be accompanied in this gated community.

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