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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8302 N Mockingbird Lane Paradise Valley, AZ 85253

$11,500,000
6 Beds
7 Baths
8,151 SqFt
Status Active
MLS # 6632749
Property Type Single Family Residence
Price Type --
This brand new desert contemporary home is brought by luxury developer Aspen Dev Co and checks all the boxes! The 8,151SF home includes 6 en-suite bedrooms including a separate 1bd room apartment, office, media/theatre room, guest den (or kids playroom), mudroom, exercise room with infrared sauna, open concept kitchen/living/dining area including linear fireplace, laundry room with dry-cleaning/steamer appliance and agitating sink. Appliances are Sub-Z and Wolf and a large separate pantry has an additional dishwasher, fridge/freezer, and tons of storage space. The 4 car garage includes electric vehicle hook-up and a dog wash station. Solar panel compatibility is available for future. The breathtaking interior courtyard floods the entire home with natural light. Equally well planned is the outdoor entertaining areas with a large pool (with automatic cover), spa, outdoor shower, sunken fit pit with seating, outdoor kitchen with 42 Wolf grill and Green Egg and inviting dining areas. Full tennis court with pickle ball markings, as well. No detail has been overlooked or left out! Come see this light-filled contemporary home!

4644 E Indian Bend Road Paradise Valley, AZ 85253

$11,500,000
5 Beds
5.5 Baths
7,299 SqFt
Status Active
MLS # 6660544
Property Type Single Family Residence
Price Type --
Currently under construction with an anticipated completion date in Q2 of 2024 - Experience unmatched elegance in this Patterson Homes estate, with 7,299 square feet of modern living on a flat acre. Featuring 5 en-suite bedrooms, a luxurious half bath, an office with fabulous mountain views, a state-of-the-art theater, a large secondary kitchen, and a home gym with views of the resort-like yard, complete with sun deck, raised spa, play pool, lap pool, and bocce court. The 4-car garage and expansive indoor/outdoor living areas offer majestic Mummy Mountain views. Every detail reflects the pinnacle of design, luxury, and modern living. Additional details available upon request.

4829 E Orchid Lane Paradise Valley, AZ 85253

$11,500,000
4 Beds
7 Baths
8,348 SqFt
Status Active
MLS # 6676740
Property Type Single Family Residence
Price Type --
Views! Views! Views! This home is located on an elevated lot at the end of the cul-de-sac on one of the most beautiful streets in Paradise Valley! 360-degree views with different mountains out of almost every room in the house. No details were spared to create this amazing oasis in the desert. Souring 18-foot coffered ceilings in both the great room and adjacent game room both with huge exterior pocket doors making your indoor and outdoor areas become one! Chef's kitchen, butler's pantry, gorgeous views of the McDowell Mountains from the office and formal dining room. Huge gym with exterior pocket doors opening the entire wall providing stunning views of Mummy Mountain! The Master Bedroom has unmatched views of the Phoenix Mountain Reserves. Huge his and hers closets and a spa like Master Bath including dual water closets, steam shower, 11-piece shower set, the list goes on and on! Step into your resort like back yard and you will be surrounded by mountain views in every direction. A huge pool and spa with attached sunken firepit. At the end of the pool is an outdoor dining/lounging area with stunning stone water feature and 360-degree mountain views! This is a one-of-a-kind property. Homes with this level of quality, detail, privacy and views rarely come on the market. Construction is scheduled to be completed by June of 2024.

8185 E Alameda Road Scottsdale, AZ 85255

$11,500,000
5 Beds
11 Baths
5,950 SqFt
Status Active
MLS # 6593970
Property Type Single Family Residence
Price Type --
Boasting nearly 10 acres of land, this gated estate includes a stunning Spanish-style main house, a full equestrian facility, an entertainment pavilion with attached theater, 2 standalone casitas, 2 staff apartments & a 1200 sqft multi-use building. The 5,950 sqft main home was renovated in 2021. Vaulted, wood beamed ceilings, engineered hardwood floors & statement luxury light fixtures through-out the home. The primary suite presents a seating area, balcony & spa worthy ensuite. The backyard has an outdoor kitchen, a heated pool, spa & putting green. The 5,000-SF, entertainment pavilion has a game room, full bar, kitchen, gym, yoga studio & 3rd-level deck with 360º mountain and city views. The equestrian facility encompasses 15 stalls, 2 arenas, 3 turnouts & 2 RV parking.

7525 N Shadow Mountain Road Paradise Valley, AZ 85253

$11,200,000
4 Beds
5 Baths
7,380 SqFt
Status Active
MLS # 6691460
Property Type Single Family Residence
Price Type --
Step into a realm of refined French Mediterranean architectural grace! This extraordinary estate has undergone a tasteful rejuvenation in 2023, seamlessly blending antique European architectural elements for enduring allure. Spanning over 7300 square feet, this home boasts an array of amenities, including four bedrooms, five bathrooms, an office, billiards room, craft room, roof deck, and a three-car garage with ample guest parking. Explore the enchanting grounds, featuring four distinct courtyards, a vegetable and herb garden, eight fireplaces, a fire pit, private heated pool, and a wine cellar capable of housing up to 5000 bottles. Satisfy your culinary desires in the impeccably designed kitchen, outfitted with top-of-the-line Wolf appliances, such as a six-burner plus griddle, double oven range, steam oven, and Sub-Zero refrigerator and freezer. Elevate your mornings with the Miele in-wall espresso system and coffee cup warming drawer in the dedicated coffee station.Adjacent to the kitchen, the butler's pantry awaits to streamline your entertaining endeavors, conveniently located between the kitchen and dining area. Enjoy gatherings in the formal dining room, graced with elegant features, including a private courtyard view and seamless access to the wine cellar. Retreat to the sanctuary of the primary suite and revel in the breathtaking views of the lush grounds, private patio, and charming bench window nook. Indulge in a luxurious oasis within the primary bathroom, boasting a spacious walk-in shower, standalone tub, double vanities, and separate closets offering ample storage space. A spacious living room beckons for gatherings, while a billiards room offers leisure and enjoyment. Two inviting bedrooms, each with walk-in closets and scenic mountain views, complete the picture of comfort. From the Venetian plaster walls to the rough-hewn ceiling beams, every corner of this home exudes timeless elegance. Adorned with a Redlands 5-tone clay tile roof featuring exquisite detail and custom European millwork throughout, the exterior radiates charm. Welcome to a residence where luxury meets artistry, and every moment is infused with sophistication and comfort.

7436 E Continental Mountain Drive Cave Creek, AZ 85331

$11,000,000
5 Beds
6 Baths
7,934 SqFt
Status Active
MLS # 6652945
Property Type Single Family Residence
Price Type --
The Mustang residence is nestled on 4.7 acres with breathtaking 360-degree mountain views. Facing southwest, this residence perfectly captures the tranquil surroundings, offering a seamless blend of indoor-outdoor living on a single-level split floorplan. The warm and organic material palette, features stone, wood, steel, and glass. The heart of the home unfolds as you step inside, revealing an open living, kitchen, and dining space. This central hub is designed for both relaxation and entertainment, with the flexibility to open the floor-to-ceiling pocket doors during the season. The outdoors is an entertainer's dream, boasting an infinity pool that seemingly merges with the horizon, set against a backdrop of majestic mountains. Descend from the deck to enjoy an outdoor lounge centered around a fire pit creating the ideal setting for relaxed social gatherings. The rooftop, immersed in the saguaro forest, invites you to experience everyday magic during the golden hour or revel in solitude under the stars. In this home, every detail has been meticulously crafted to provide a sophisticated and harmonious living experience. Welcome to Continental Mountain Estates, where modern luxury meets the Old West.

8015 N 74th Place Scottsdale, AZ 85258

$10,995,280 - 5Br/6Ba -  for Sale in Paradise Valley Farms, Scottsdale
New
$10,995,280
5 Beds
6 Baths
7,915 SqFt
Status Active
MLS # 6693105
Property Type Single Family Residence
Price Type --
Seller willing to consider a seller carry at a 5.50% interest rate with 30% down and a 2 year balloon payment. Nestled in the prestigious Paradise Valley Farms community of Scottsdale, this magnificent 7,915 square-foot modern masterpiece sitting on over an acre of land redefines luxury living in the heart of the Arizona desert. This new construction home built by TINKER Development and designed by Holly Wright Design, features 7,110 sq/ft in the main house and 805 in the fully detached guest house, and showcases architectural brilliance with its sleek lines, expansive windows, standing seam metal roof and cutting-edge design. From the rift oak cabinetry, to the European white oak flooring, to the 60+ slabs, and the recessed baseboards, every detail was thought of and no corner was cut making this home the epitome of modern opulence and sophistication. Upon entering, you'll be greeted by a soaring foyer that leads to an open-concept living space with 24' ceilings in the great room. The expansive layout seamlessly connects the living room, dining area, and gourmet kitchen, creating an ideal environment for both intimate family gatherings and grand-scale entertaining. The chef's dream kitchen with fully appointed back kitchen boasts all Wolf and Sub Zero appliances with a 60 dual over range, Steam Oven, 3 dishwashers, both rocks and sonic ice makers, in wall water filler, Miele Coffee Maker, 36 fridge and 36 freezer in main kitchen and Sub Zero fridge with glass front in the back kitchen. The master suite is a private sanctuary, featuring a spa-like bathroom, his and hers fully appointed closets, and a 20' wall of automated retractable glass from the master shower that leads out to a private retreat with water feature. Three additional en-suite bedrooms in the main home and one in detached guest house offer luxurious accommodations for family and guests. Host movie nights in the state-of-the-art theater, wine enthusiasts will delight in the climate-controlled wine cellar, and fitness enthusiasts will appreciate the private gym. Step outside to an outdoor oasis and relax with the resort-style back yard featuring a 40'x40' zero edge pool and private spa, along with multiple covered patios with heaters and integrated misting systems, an indoor/outdoor bar area, as well as an outdoor kitchen/dining area with built in BBQ and Smoker, perfect for al fresco dining. Lush landscaping and breathtaking mountain views complete the serene ambiance. Control your home with ease using the latest in CRESTRON smart home technology. The system controls the AV, security and climate systems, shades, all lighting, mister systems, pool equipment, garage doors, driveway gate and the fireplaces. With a gated entrance, advanced security system, and meticulous landscaping, this property offers unparalleled privacy and peace of mind. Paradise Valley Farms is renowned for its exclusivity and tranquility. Enjoy proximity to upscale dining, shopping, championship golf courses, and scenic hiking trails. Top-rated schools are also nearby. This 7,915 sq/ft modern masterpiece is a rare opportunity to own a brand-new furnished luxury residence in one of Scottsdale's most coveted communities. Immerse yourself in the epitome of desert living, where sophistication meets serenity. Arrange a private tour today and make this extraordinary property your desert oasis.

20948 N 104th Way Scottsdale, AZ 85255

$10,995,000
5 Beds
9 Baths
8,300 SqFt
Status Active
MLS # 6655110
Property Type Single Family Residence
Price Type --
This Posh contemporary home is designed by renowned architect Mark Tate and to be built by Sonora West Development on one the finest remaining lots in Silverleaf. Located in the lower end of the Upper Canyon with rare South facing views of City Lights, nearby and distant mountain ranges and Silverleaf golf course. This home includes 5 bedrooms, office, 6 full and 3 half baths and a 4 car garage. (There is room for a separate guest house and 2 additional garage spaces at additional cost.) The swank Great room, kitchen and Primary suite overlook the stunning city light and mountain views. One of the best values in Silverleaf for a new build home.

6480 E El Maro Circle Paradise Valley, AZ 85253

$10,950,000
6 Beds
10 Baths
11,499 SqFt
Status Active
MLS # 6693041
Property Type Single Family Residence
Price Type --
Nestled within the secure confines of El Maro's gated community stands a stunningly refurbished estate. As you step inside, you're greeted by panoramic mountain vistas and expansive interiors filled with natural light. An inviting billiards room adjoins the family area and kitchen, ideal for gatherings of all sizes. The formal dining and living spaces offer captivating views of the glistening pool, lush landscaping, sprawling golf course, and mountains beyond. This exquisite home boasts a wine cellar, an exercise enclave, a theater for cinematic indulgence, and a den/retreat with built-in bookshelves and desks. The main house comprises four en-suite bedrooms alongside a sumptuous master suite, replete with balconies, a cozy fireplace, a spa-inspired bathroom, and a lavish closet.... ...Just steps away, a wood-paneled office with awe-inspiring vistas awaits. Additionally, an attached guest casita provides a private haven complete with its own entrance, kitchen, laundry facilities, fireplace, and a separate bedroom with a full bath. The property features a lighted tennis court (or two pickleball courts), a four-car garage, and an elevator, among other refined upgrades, further enhancing the timeless allure of this breathtaking estate.

41521 N 75th Place Cave Creek, AZ 85331

$10,500,000
4 Beds
5 Baths
7,250 SqFt
Status Active
MLS # 6652910
Property Type Single Family Residence
Price Type --
The Six Shooter residence seamlessly floats in harmony with the natural landscape through carefully selected rustic materials, such as rubble stone, concrete and raw steel. Perched high on the gentle hillside, this home offers panoramic views and ultimate privacy amidst ancient saguaros. The lower 7-car show garage not only serves as a focal point, but elevates the home even higher, transcending the hillside for commanding views. The great room is an open-concept space that seamlessly connects the front terraces with mountain vistas unfolding before you. The private primary suite, strategically hovering above the desert, offers utmost seclusion and astonishing views. The guest wing and lounge open up to the pool and terrace area, creating an oasis for relaxation and social gatherings. A private detached casita is accessed by a small bridge hovering the desert floor, ensuring an enchanting guest experience. In this home, every detail has been meticulously crafted to provide a sophisticated and harmonious living experience. Welcome to Continental Mountain Estates, where modern luxury meets the Old West.

4420 E Clearwater Parkway Paradise Valley, AZ 85253

$10,500,000
5 Beds
6 Baths
8,800 SqFt
Status Active
MLS # 6647471
Property Type Single Family Residence
Price Type --
PLANS ARE COMPLETE AND PERMITTED...READY TO START BUILDING NOW!! Modern gem in gated Clearwater Hills on a NON HILLSIDE 1.32 acre lot with spectacular views of Camelback Mountain. Enjoy amazing indoor and outdoor living. Award winning architect Kendle Design, interior designer Dwelling Design and landscape architect Greey Pickett culminated in a masterpiece. Fall in love with the spectacular walls of glass framing the Sonoran desert. Choose your own finishes to your exacting needs or have the home completed with the extraordinary fit and finish completed by the expert design team... all the hard work is done!!! Also available for sale as a lot with permitted plans - MLS # 6647428

11199 E Saguaro Canyon Trail Scottsdale, AZ 85255

$10,500,000
4 Beds
6 Baths
7,794 SqFt
Status Active
MLS # 6668604
Property Type Single Family Residence
Price Type --
WELCOME TO SCOTTSDALE'S MOST EXCLUSIVE GUARD GATED COMMUNITY OF SILVERLEAF! THIS EXQUISITE CUSTOM ESTATE IS SITUATED HILLSIDE IN SILVERLEAF'S UPPER CANYON ON A PRIVATE LOT BACKING UP TO THE MCDOWELL SONORAN PRESERVE BOASTING PANORAMIC CITY LIGHT & MOUNTAIN VIEWS FROM EVERY ROOM IN THE HOME. ENTER YOUR NEW HOME VIA A TREE LINED GATED DRIVEWAY INTO THE EXPANSIVE MOTOR COURT AND ENJOY THE FABULOUS ARIZONA SUNSETS FROM ONE OF THE MANY FINELY MANICURED GARDENS OR SITTING AREAS APPOINTED WITH DELECTABLE SCENTED ROSE BUSHES, FOUNTAINS & FIRE PITS. STEP INTO A WORLD OF GRANDEUR WITH DETAILED SOARING CEILINGS AND AN ABUNDANCE OF NATURAL LIGHT. THIS MAGNIFICENT LIGHT & BRIGHT OPEN FLOOR PLAN BOASTS 7,794 SQUARE FEET. THIS SINGLE-STORY ESTATE EPITOMIZES LUXURY LIVING AT ITS FINEST. DESIGNED WITH AN EYE FOR ELEGANCE AND A TOUCH OF TIMELESS SOPHISTICATION, THIS PROPERTY STANDS AS A MASTERPIECE OF ARCHITECTURAL OPULENCE AND REFINED TASTE. FEATURING 4 EN-SUITE BEDROOMS, 6 BATHROOMS, FORMAL LIVING & DINING, HIS & HER OFFICES, BONUS ROOM WITH WET BAR, EXERCISE ROOM, A QUAINT LIBRARY WITH TIMELESS WOOD FLOORS, RICH WOOD BUILT-IN BOOKSHELVES A COZY FIREPLACE AND A 4 CAR AIR-CONDITIONED GARAGE EQUIPPED WITH CAR LIFTS EXPANDING THE CAPACITY TO 6 CARS, NEW GARAGE DOORS, EXPOXY FLOORING AND A PRIVATELY SECURED MAN-CAVE. THE INTERIOR IS APPOINTED WITH THE FINEST OF FINISHES FROM ITS CANTERA STONE PILLARS & FIREPLACE SURROUNDS TO THE HAND CARVED WOOD CABINETRY. THE GOURMET CHEF'S KITCHEN IS A CULINARY HAVEN WITH STATE-OF-THE-ART APPLIANCES, 2 DISHWASHERS, WARMING DRAWER, QUARTZ COUNTERTOPS, MIELE COFFEE MAKER AND A GENEROUS ISLAND CREATING THE PERFECT SETTING FOR INTIMATE DINNERS OR GRAND GATHERINGS. THE WALK-IN PANTRY IS DESIGNED TO STORE ALL YOUR FOOD ITEMS AS WELL AS DISHES AND FINE CHINA. IMPRESS YOUR GUESTS WITH THE ELEGANT SPACIOUS FORMAL DINING ROOM WHERE THEY WILL ENJOY MOUNTAIN & CITY LIGHT VIEWS THAT WILL CERTAINLY ENHANCE THEIR DINING EXPERIENCE! THE LENGTHY ART GALLERY HALLWAYS ARE PERFECT FOR DISPLAYING YOUR MOST FAVORED ART PIECES. THE MASTER RETREAT IS ANY OWNER'S DREAM WITH A COZY FIREPLACE, HIS/HERS WALK-IN CLOSETS W/LAUNDRY, AND A PRIVATE WORK-OUT OR YOGA ROOM. THE MASTER BATH RIVALS ANY 5 STAR RESORT WITH HIS & HER WATER CLOSETS, STEAM SHOWER & LARGE SOAKING JACUZZI TUB WITH SERENE CITY LIGHT VIEWS. LIVE OUTDOORS IN THIS RESORT STYLE BACKYARD WHERE YOU CAN IMMERSE YOURSELF IN THE TRANQUILITY OF THE PRISTINE & LUSHLY LANDSCAPED GARDENS, MULTIPLE FIRE FEATURES, PUTTING GREEN, INVITING HEATED POOL & SPA WITH A GROTTO WATERFALL, RAMADA WITH ANOTHER FIREPLACE & OUTDOOR KITCHEN AND THE MOST AMAZING SUNSETS! THIS RARE OPPORTUNITY IS A MUST SEE AND IS IDEALLY LOCATED TO SHOPPING, DINING AND THE 101 FREEWAY.

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