With the fluctuations in real estate and the increasing cost of home ownership, many people are entering the market with more trepidation these days. Fortunately, there are a number of myths associated with buying a home that may not adversely affect potential home buyers. If you’re interested in purchasing a home but are unsure about whether it will get approved, here are a few things you may want to dispel.
No Approval With Less Than 20 Percent
While putting 20 percent down can help you avoid having to pay private mortgage insurance, this down payment percentage is still just a suggestion when it comes to mortgages. It’s necessary to put a certain percentage down and be able to drum up the money on your own, but if getting into the market is your priority, buying now may be worth the investment over time. It’s just important to remember that the cost of your monthly payment should be affordable for the long term.
Home Ownership Is Too Expensive
It’s certainly the case that the real estate market is always fluctuating and prices can go up or down, but generally speaking, a home will increase in value over time and that means your monthly payment will be something you can consider an investment. While monthly rent disappears as soon as the calendar month is over, the money you invest into a home month after month builds up your equity and ensures greater stability for your financial future.
You Must Have A Good Credit Report
While it will definitely help your mortgage application if you possess good credit, it’s not necessarily a deal breaker if you don’t. Each mortgage is assessed based on a combination of factors that can include your down payment amount and your debt-to-income ratio, so this means that if you have a higher down payment and a less impressive credit report, you can still be approved. It’s a good idea to pay your bills on time and get your debt down if you’re applying for a mortgage, but there are opportunities for potential buyers who have experienced credit issues.
Home ownership is an important dream for many people, and as a result, there are many myths associated with the mortgage process. However, even if you don’t have 20 percent down or perfect credit, there are still opportunities for improving your financial well-being and investing in a home. If you’re currently looking for a new home, give me a call for more information – J.P. Cook – 602-320-4253.
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4138 E Orchid Lane
Gilbert, AZ 85296
$475,000
4
Beds
2.5
Baths
1,990
SqFt
Status
Active
MLS #
6695793
Property Type
Single Family Residence
Price Type
--
Discover the perfect blend of comfort and style in this stunning single-family home located in the highly sought-after THE GARDENS community in Gilbert. Boasting 4 bedrooms and 2.5 bathrooms, this residence offers the ideal backdrop for modern family living. Step inside and be greeted by the beautifully updated open-concept living, dining, and family rooms. Light gray tile plank flooring graces all traffic areas, creating an inviting and contemporary atmosphere. New window coverings and updated electric outlets, along with modern lighting fixtures, add a touch of elegance to every space. Bright open kitchen, featuring pristine white cabinetry, a convenient island, and stainless steel appliances. Primary suite on the second level, complete with a spacious walk-in closet and extended sink bathroom vanity. Newer AC unit and a gas water heater, ensuring your comfort and convenience year-round. Grassy shade covered backyard, It's the perfect space to unwind after a long day. THE GARDENS community is truly unique, with its tree-lined streets, 11 parks, 3 sparkling pools, sand volleyball courts, basketball courts, and an abundance of scenic walking paths. It's a neighborhood designed for an active and vibrant lifestyle. Conveniently located near the 202 freeway, top-rated schools, and the popular San Tan Village shopping district, you'll have everything you need just moments away. Don't miss out on the opportunity to make this beautiful home yours today. Act quickly, as homes in this prime location don't stay on the market for long! Come and see it soon! *****Temporary 1-0 Buydown offered by preferred lender for qualified buyers.*****
6962 W Glenn Drive
Glendale, AZ 85303
$475,000
3
Beds
2.5
Baths
2,500
SqFt
Status
Active
MLS #
6695811
Property Type
Single Family Residence
Price Type
--
Clean, well maintained 3 bedroom, 2.5 bath w extra large loft and family room, sitting on a corner lot. Extra wide stairway leading to second floor w safety gate at top. Bedrooms & Laundry all upstairs. Grab-bars in all bathrooms. Beautiful kitchen, extended granite counters & white cabinets w pull out organizers, corner pantry, upgraded appliances, Lg. breakfast island open to living space makes home great for entertaining. Double-gate to backyard that has well established shade trees, extended patio for relaxing, 220 volt hookup installed, and plenty of room for a pool. Storage cabinets in garage, Solar sunscreens on every window. House pre-wired ethernet, wired surround sound in family room and loft as well as home security system & med sized dog door. Ready to be your new family home
9641 E Indiana Avenue
Sun Lakes, AZ 85248
$475,000
2
Beds
2
Baths
1,409
SqFt
Status
Active
MLS #
6695852
Property Type
Single Family Residence
Price Type
--
Choosing to purchase this home would be like moving into a new build, but with the benefit of an INCREDIBLY RELAXING landscaped yard on a private, corner lot in a well-established neighborhood. Whether you're a winter visitor or full-time resident, you'll love living in THIS remodeled home. This 2 bd/2 ba model is on the smaller side of those offered in Sun Lakes, but the1409 sf floor plan feels spacious and functional. You won't need any more square-footage. Three skylights and large picture windows throughout add to the open feel. Some highlights of the remodel include all new wood-look laminate flooring (no carpet anywhere), new baseboards, new interior paint, new ceiling fans and light fixtures in every room, new kitchen cabinets w/Quartz countertop and backsplash, new LG S/S appliances, a newer A/C, a new roof and gorgeous new bathrooms to include a curbless shower in the primary bath. Rather than list them all here, please refer to the DOCUMENTS tab for a complete list of the room-by-room features. The 50+ photos attached will take you on a digital tour that is sure to entice you into a personal visit. Thanks for stopping by!
6145 E Sierra Morena Street
Mesa, AZ 85215
$475,000
3
Beds
2
Baths
1,595
SqFt
Status
Active
MLS #
6695979
Property Type
Single Family Residence
Price Type
--
Nestled within a serene community, this inviting 3-bed, 2-bath residence exudes tranquility and comfort. The home boasts airy interiors illuminated by vaulted ceilings and abundant natural light, enhanced by wood flooring and tasteful two-tone paint. The kitchen offers ample storage with a pantry. Whether enjoying meals in the formal dining area or the cozy eat-in kitchen, every moment is savored in this versatile space. Outside, residents indulge in a plethora of community amenities including biking/walking paths, a clubhouse, tennis courts, and a refreshing pool and spa, all enveloped by the lush backdrop of a nearby golf course. This residence harmoniously blends modern living with a tranquil lifestyle!
1657 S Murdock Road
Camp Verde, AZ 86322
$475,000
3
Beds
2
Baths
1,533
SqFt
Status
Active
MLS #
6696487
Property Type
Single Family Residence
Price Type
--
Welcome to your new home! This charming 3 bed, 2 bath sanctuary boasts 1532sqft of comfort and style. Nestled on a private well, enjoy peace and serenity. Revel in the modern touches with a newer roof, fresh flooring, plush carpet, and upgraded lighting fixtures. Gather around the cozy fireplace in the family room for memorable evenings. Don't miss your chance to make this haven yours!
2101 Leisure World --
Mesa, AZ 85206
$475,000
3
Beds
2
Baths
1,723
SqFt
Status
Active
MLS #
6697499
Property Type
Single Family Residence
Price Type
--
Please do not miss this beautiful Barcelona floor plan. It has been tastefully updated and has views of Coyote Run Golf Course from both the front patio and the back patio. The front courtyard is so welcoming to all visitors and once inside the home, the gorgeous rock fireplace and vaulted ceiling invites you in. The large kitchen has plenty of cabinets and counter space plus you have a large laundry room and incredible pantry. All 3 bedrooms are huge and the home has hard surface floors throughout for easy care. Do not miss this house!! All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!
1824 N Vista Lane
Casa Grande, AZ 85122
$475,000
5
Beds
3
Baths
2,942
SqFt
Status
Active
MLS #
6697569
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home on a serene cul-de-sac lot, surrounded by lush landscaping and boasting a crisp curb appeal. With only one neighbor, you'll enjoy privacy and tranquility in this peaceful neighborhood. Step inside and be greeted by a grand entryway into the spacious living room, featuring vaulted ceilings, two-tone paint, and stunning wrought iron railing. The open floor plan flows seamlessly into the eat-in kitchen with a breakfast bar, perfect for entertaining guests or enjoying family meals. The kitchen is any chef's dream with stainless steel appliances, maple spice cabinets, crown molding, and recessed lighting. Enjoy cooking outside in the outdoor kitchen equipped with a built-in BBQ while taking in views of your beautiful koi pond. Retreat to your primary bedroom oasis with access to a private view deck where you can relax and take in the breathtaking surroundings. The en-suite bathroom offers raised vanities with dual sinks, separate shower/tub, double closets for ample storage space. This former model home also features an upstairs laundry for convenience and a downstairs mother-in-law suite for guests or multigenerational families. Don't miss out on this rare opportunity to own such a unique home that checks off all boxes - location, privacy, luxury amenities - all wrapped up in one gorgeous package!
2141 N 135th Drive
Goodyear, AZ 85395
$475,000
3
Beds
2.5
Baths
2,064
SqFt
Status
Active
MLS #
6698130
Property Type
Single Family Residence
Price Type
--
Nestled in the well-maintained Palm Valley community, boasting gated entry, a community pool and spa, playgrounds, community golf course, sports courts, and biking/walking trails! This residence harmonizes modern living with tranquil outdoor beauty, epitomizing the allure of Arizona living.
13420 W Peck Drive
Litchfield Park, AZ 85340
$475,000
4
Beds
2.5
Baths
2,235
SqFt
Status
Active
MLS #
6698178
Property Type
Single Family Residence
Price Type
--
Become the proud owner of this two-story residence in the desirable Community of Dreaming Summit! The charming interior boasts an open layout adorned with tall ceilings, tile flooring, and fresh carpet. Prepare gourmet meals in the kitchen, outfitted with built-in appliances, ample counter space, wood cabinetry, breakfast bar, and large walk-in pantry. Downstairs den could be used as bedroom 5, or take advantage of the custom desk for ready to work home office. Spacious loft is ideal for an entertainment area! The generous main suite has new plush carpet, double-door entry, large bath, and separate his and hers walk-in closets. Out the back, you have a covered patio, extra patio space for seating or BBQ, and a refreshing pool and spa that are excellent for relaxation. Don't miss out!
4627 N 11th Street
Phoenix, AZ 85014
$475,000
3
Beds
2
Baths
1,100
SqFt
Status
Active
MLS #
6698442
Property Type
Single Family Residence
Price Type
--
AMAZING OPPORTUNITY to own this home with a guest house!!! Front house: 3 bedrooms/ 2 baths! Guest house: 1 bedroom/1bath! Super convenient location in Central Phoenix and highly desirable school districts. Recent updates: new roof, both units fully painted, carpets and blinds, and in 2023. Front home water heater replaced in 2023. Also in 2023, all gas lines to appliances in the front house repaired. Kitchen sink new pipe and fittings. Installed clean outs in yard. New Day & Night 4 ton 14 seer AC on front house Jan 2024 through Viking heating & air 10 yr parts warranty & 2 yr labor. New toilet in guesthouse. THIS ONE WILL GO FAST!
1744 E Los Alamos Street
Gilbert, AZ 85295
$475,000
3
Beds
2
Baths
1,124
SqFt
Status
Active
MLS #
6699262
Property Type
Single Family Residence
Price Type
--
Welcome to your slice of paradise in Gilbert! This charming single-story home offers 3 bedrooms and 2 bathrooms, meticulously remastered for modern comfort and style. Step inside and be greeted by a delightful open floor plan, adorned with luxurious Luxury vinyl plank flooring that adds both elegance and durability to the space. The kitchen is a chef's delight, boasting solid stone counters, crisp white shaker cabinets, and gleaming stainless steel appliances, creating a perfect blend of functionality and sophistication. Retreat to the spacious primary room, complete with a large en suite featuring exquisite fixtures, shaker cabinets, and a beautifully tiled stand-in shower. Plus, the walk-in closet is equipped with a fantastic closet system, offering ample storage and organization options. Step outside to your expansive backyard oasis, where lush mature landscaping and trees provide privacy and tranquility, creating the perfect setting for outdoor gatherings or simply relaxing under the Arizona sky.
233 W Harvard Avenue
Gilbert, AZ 85233
$475,000
4
Beds
2
Baths
1,403
SqFt
Status
Active
MLS #
6699265
Property Type
Single Family Residence
Price Type
--
You'll love this charming home in Gilbert positioned less than a mile from downtown Gilbert! Get it painted any color courtesy of seller as well! A 2-car garage and grassy front yard await. Enter to find an open layout w/backyard access to merge the indoor/outdoor activities, vaulted ceilings that add to the airy feel, recessed lighting, and wood-look flooring. The immaculate kitchen features stainless steel appliances, white cabinetry, quartz counters, and an island w/breakfast bar. The bright primary room offers a double-door entrance, a walk-in closet, and an ensuite w/a floor-to-ceiling tiled shower. Venture into the sizeable backyard boasting artificial turf, a covered patio, and trees planted in the yard that will continue to mature to add privacy. What are you waiting for?
