The First-Time Home Buyer’s Guide to Getting the Best Possible Mortgage Rate

The First-Time Home Buyer's Guide to Getting the Best Possible Mortgage RateWhether they’re found online or heard from family and friends, there are so many mortgage tips out there that it can be hard to know exactly how to proceed. But, if you’re new to the market, there are a few surefire things you can do to get a mortgage rate you’ll feel good about. For some of the best tips on getting a great loan, look no further than the following.

Know Your Credit History

It’s a simple fact that one of the most important factors in your mortgage application is your credit history, so good or fair, it’s important to be aware of where you stand. While the acceptable credit score for mortgage approval can fluctuate, the best rates are often available to those with a score that is higher than 760. In order to improve your chances, get a copy of your credit report and pay attention to any discrepancies that might be in it. These can have a negative impact on your score and your application, so you’ll want to have them revised if they’re incorrect.

Save Your Down Payment

It’s not a requirement of mortgage approval to put 20% down, but a down payment of this size will lower your debt-to-income ratio and will make you a more solid bet for the lender. By having 20% in the bank to go towards your home investment, you will also be able to qualify for a lower rate. Not only this, you will not be required to pay mortgage insurance which means a lowered monthly payment and a higher disposable income in the event of market fluctuations.

Consult With A Mortgage Professional

You may want to pursue a mortgage on your own, but having a professional to help you with the process can be beneficial for a number of reasons. A mortgage expert will not only be aware of market conditions, they will have a relationship with the lenders that means they may be able to get you a rate you wouldn’t be offered on your own. While you may want to go it alone, there are benefits to consulting a professional.

There’s a lot involved in the mortgage process, but by putting 20 percent down and having a good credit history, you’ll be well on your way to a great rate.

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9661 E Cintarosa Pass Scottsdale, AZ 85262

$9,995,000
4 Beds
5.5 Baths
9,850 SqFt
Status Active
MLS # 5891291
Property Type Single Family - Detached
Price Type --
One of the highest elevations in Desert Mountain, Lot 354 in Cintarosa Ranch is situated on over 3 acres and this captivating new-build combines stunning modern architecture and finishes with a magical location and views. Livable luxury is brimming with visual and tactile treats at every turn. The open, split floor plan cohabitates with outdoor living, dining and entertaining spaces, surrounding water features, pool, spa, and enchanting forever views. Organic materials; floor to ceiling glass, wood, metal and water allow this masterpiece to flow seamlessly inside and out. Privacy, functionality and Arizona Sonoran Desert Lifestyle are apparent with the pool house casita, double offices and media room. Ideal south facing backyard captures sun all day on the pool and patio areas with

7140 N 40th Street Paradise Valley, AZ 85253

$9,988,000
5 Beds
7 Baths
8,132 SqFt
Status Active
MLS # 6189626
Property Type Single Family - Detached
Price Type --
This award winning architectural masterpiece, designed by renowned CP Drewett in collaboration with Bedbrock Developers and Mara Interior Design, sits on 2.75 acres within the privately gated Crown Canyon, Arizona's most exclusive gated community. The grand 8,132sf offer 5 generous bedrooms and 7 bathrooms, two indoor/outdoor bars and an oversized exercise room. The detached casita and 4 car garage are beautifully molded into the mountain. Multiple outdoor patios, fireplace and outdoor kitchen surround the negative edge pool and spa and offers unobstructed breathtaking 250' views. This one of a kind home with a Paradise Valley address is embedded in the Phoenix Mountain Preserve and part of the architectural symphony of Crown Canyon that is home to only 12 homesites starting at $9.98M.

5237 E Solano Drive Paradise Valley, AZ 85253

$9,500,000
5 Beds
5.5 Baths
6,337 SqFt
Status Active
MLS # 6242856
Property Type Single Family - Detached
Price Type --
Without question this is the most exquisite contemporary home in all of Paradise Valley. Perched atop Camelback Mountain with unparalleled city and mountain views; you can even see Talking Stick Resort at nightfall. Renowned architect, Bing Hu, has completely outdone himself by creating a brilliant spectacle with flawless modern finishes boasting Mahogany wood flooring, Carrara Marble slab, quality craftsmanship and innovated design. With 20' ceilings in the living room and dining room, it offers the perfect balance between zen & tranquil and posh & stylish. The chef's kitchen features foiled cabinetry, custom Carrera marble waterfall island, Miele appliances and a floating breakfast room that cantilevers over a working, breathtaking wash that comes to life with rainstorms.

6727 N 63rd Place Paradise Valley, AZ 85253

$9,100,000
6 Beds
6.5 Baths
7,015 SqFt
Status Active
MLS # 6239924
Property Type Single Family - Detached
Price Type --
Throned along Mummy Mountain, the only thing more beautiful than this property's iconic view of Camelback Mountain is its warm contemporary floor plan perfect the resort lifestyle. Designed with intention, luxury meets comfort strolling between stunning livable spaces, a sprawling patio and pool complete with a pass through bar and grilling area and 3 designated workspaces for the new era. Interiors are spectacular with walnut cabinetry, walnut interior doors, giant walls of glass all flooded with natural light. Temac Development continues to define what Paradise Valley custom living can be in this 7015 sf private residence, complete with a full detached guest house. Ready for occupancy in the Winter of 2021.

6516 E Meadowlark Lane Paradise Valley, AZ 85253

$8,999,888
5 Beds
7 Baths
8,284 SqFt
Status Active
MLS # 6222652
Property Type Single Family - Detached
Price Type --
This Mountain Masterpiece offers stately views and plenty of room for car collectors with an unheard of 8 car garage on the mountain with plenty of room for all of your vehicles and toys. The interior offers an over the top Owners suite with massive closets and spacious bathroom, 3 additional ensuites, Office, Guest House, and Gym. The exterior offers the best of Arizona's indoor outdoor living with ridiculous views! You can select your finishes now and have input on the interiors, some of the photos are from recent projects by the developer/builder. Call today for private showings.

10835 E Mountain Spring Road Scottsdale, AZ 85255

$8,999,000
5 Beds
8 Baths
12,289 SqFt
Status Active
MLS # 6163378
Property Type Single Family - Detached
Price Type --
Extraordinary estate nestled in Silverleaf's Upper Canyon McDowell Mountain preserve with a majestic mountain backdrop, dramatic down valley city views, and golf course proximity, this home is exquisitely picturesque. Built by Catalina Custom Homes with design inspired by traditional Spanish architecture, this storybook is a living legacy of grace and character. An architectural masterpiece, featuring 5 bedrooms, 8 baths, two offices, and game room with ten patios/outdoor living areas, meticulously planned for functional living with large spaces for optimal elite entertaining and vignette boutique spaces that add interest and charm. Finished with the finest custom details for the most discerning resident. Timeless sophistication with grand ceilings boast extensive (see ''more'' now)

42764 N 98th Place Scottsdale, AZ 85262

$8,995,000
6 Beds
10 Baths
11,800 SqFt
Status Active W/contingency
MLS # 6212193
Property Type Single Family - Detached
Price Type --
Villa Paradiso is reminiscent of a Classic European Farmhouse w Magnificent Views nestled hillside on 5 saguaro studded acres in Desert Mountain, a premier Golf and Recreational Community in North Scottsdale. Multiple Retractable walls of glass unite the outdoors onto lavishly appointed patios, multi-level pool & a fully equipped outdoor kitchen. Unique workmanship emanates precision & quality w 150 Year Old Exposed Beams, Provincial Antique Stucco, European Stonework, 12 Masonry Fireplaces & Awarding Winning Kitchen w/built-in coffee bar, 7-11 Car Garage & 16 seat Theater. The Luxe Master Suite offers an outdoor shower & exercise room. The spacious carriage house is equipped w/ full kitchen & private patio. Live an extraordinary lifestyle in the foothills of the Continental Mountains.

42 E Biltmore Estate Phoenix, AZ 85016

$8,900,000
6 Beds
7 Baths
11,697 SqFt
Status Active
MLS # 6205114
Property Type Single Family - Detached
Price Type --
Designed by renowned architect, Bing Hu, this desert oasis showcases clean lines, a soft sandstone palette, louvered doors, & recessed wood-paneled ceilings. It closely resembles the opulent accommodations at the Four Seasons Hualalai Resort, also designed by Hu. The Master Suite, situated on the second floor with a spacious fitness studio, is very similar to what you'll find at the resort's Presidential Villa - complete with separate his/hers bathroom & closets, a dry sauna & steam shower, sitting area with beverage refrigerator, and a spacious viewing balcony that overlooks the backyard & golf course. As you enter the home, you are greeted by soaring ceilings & sky high windows that look out onto the lush backyard and Camelback Mountain. A floor-to-ceiling, double-sided stone fireplace a

5110 N Wilkinson Road Paradise Valley, AZ 85253

$8,900,000
5 Beds
5 Baths
7,871 SqFt
Status Active
MLS # 6261096
Property Type Single Family - Detached
Price Type --
Beautiful preppy soft contemporary, ''resort lobby'' vibe with lots of indoor outdoor spaces and soaring views of Camelback. Palm Desert meets Beverly Hills with clean lines and cascading lawns. Elegant teared yard nicely shaded in afternoon backing so closely to the mountain, on truly one of the most iconic streets in Paradise Valley. Rave crave builder Brimley can alter the plans to your perfect build and be in before the holidays next year. Perfectly situated between the Phoenician Resort and new Ritz Carlton, minutes from golf and all of Scottsdale and Paradise Valley's best shops and restaurants yet exclusively tucked down a private elite street.

7070 N 59th Place Paradise Valley, AZ 85253

$8,889,888
4 Beds
6 Baths
7,008 SqFt
Status Active W/contingency
MLS # 6213486
Property Type Single Family - Detached
Price Type --
Perfectly centered at the southern base of Mummy Mountain, is a rare opportunity to own one of the best flat hillside properties available with full Camelback Mountain views, NO STEPS, STATELY indoor and outdoor living, and an amazing floorpan with guest house and large yard on the mountain! This spectacular property by award winning builder TINKER DEVELOPMENT, offers a single level modern design, split floorplan and incredible 360 degree views all the way to Downtown Phoenix! This property is conveniently located just minutes from world-class resorts, fine dining, designer shopping, Scottsdale Private Airport and Phoenix Sky Harbor Airport. Schedule a private showing today to learn more about the build in progress!

19625 N 103rd Street Scottsdale, AZ 85255

$8,500,000
6 Beds
8 Baths
9,293 SqFt
Status Active
MLS # 6251317
Property Type Single Family - Detached
Price Type --
Stunning and impeccable Silverleaf golf property in the coveted neighborhood of Horseshoe Canyon. A 9,293 sf Spanish Colonial masterpiece, situated on over 1 acre of rare golf frontage on the 2nd hole. This stately property offers the best in elegance, entertaining and function with an ideal floorplan for active families and empty nesters alike. Featuring four distinct bedroom wings (master and guest house on main level; 3 bdrm kids wing and separate junior master on second floor). Exquisite features throughout: 8 fireplaces, 6 wet bars, 13 premium TV's, luxury home theatre, dynamic Savant home automation, security cameras, commercial walk in freezer, indoor dog shower, 600 bottle wine room, exercise room, 2 powder rooms, pool bath, game room, office w/hidden room, and gated entry.

9107 E Grapevine Pass -- Scottsdale, AZ 85262

$8,450,000
5 Beds
5.5 Baths
7,170 SqFt
Status Active
MLS # 6198293
Property Type Single Family - Detached
Price Type --
Welcome to Saguaro Forest 336, another wonderful collaborative effort by Graffin Design and Black Stone Custom Homes, creators of over forty high-quality custom homes in Desert Mountain* over the last twelve years. This 7,170 square foot Contemporary-styled, Great Room plan home, featuring five bedrooms, two offices/dens/studies, two garages with room for five cars, and a wonderful game room, will be built on two levels (with no steps on either of the two levels) on a superb 2.99 acre, southeast/south-facing custom homesite in a beautiful and wonderfully remote part of Desert Mountain, easily the premier golf and recreational master planned development in the western United States, if not the entire country. The home will be positioned forward of its two neighbors, for great privacy.

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