Making the decision to purchase a home is one of the most significant investments most people will make in their life, and this automatically means there are a lot of questions that need to be answered before putting any money down. If you’re considering making the leap, here are some insights into some of the common questions you might have.
How Much Should You Put Down?
While many homebuyers have the option of putting as little as 3% down in order to purchase a home, there are benefits to saving up for a down payment and putting in 15 or 20%. Because your interest rate will be higher on a lower down payment, putting more down can mean a lower overall price tag and monthly payment.
Fixed or Variable Rate Mortgage?
While a fixed rate mortgage can be good for homeowners who are new to the market due to its stability, a variable rate can be hard to rely on because it can change all of the time. Fixed rates can end up costing more than variable rates in the event of low interest rates, but it’s important to determine your comfort level with the market is before deciding on your mortgage type.
How Will The Lender Assess You?
There are a number of different factors that lenders will assess you on including your income, personal debt load, employment and credit history. While it’s important to be in the good books for these reasons, a lower credit score does not mean you will not be able to qualify for a mortgage; it simply means that you may need to provide a higher down payment.
What Will The Monthly Payment Be?
One of the conundrums of home ownership is being able to determine what you’ll actually be paying per month to purchase your home, but this number is dependent on the size of your mortgage, your interest rate, and the frequency of your payments. There are also many handy online tools you can use to provide some estimates but it’s best that you consult your mortgage specialist about this.
Most homeowners, particularly those that are new to home ownership, have many questions when it comes to purchasing a home, but by being aware of what a lender looks at and what you should put down, you’re well on your way to a healthy attitude towards ownership. If you’re currently considering buying a home, give me a call today – J.P. Cook – 602-320-4253.
2608 W Estrella Road New River, AZ 85087
$490,000
3
Beds
2
Baths
1,681
SqFt
Status
Active
MLS #
6678059
Property Type
Manufactured Home
Price Type
--
2 acre property in New River with breathtaking mountain views in every direction! This rare property includes a number of desirable features like a private well! Step onto the spacious patio deck, great for entertaining or simply unwinding while enjoying the serene locale. Inside, you'll be greeted by vaulted ceilings and stylish two-tone paint that accentuates the open, airy atmosphere. The subway tile shower in the master bath adds a touch of modern elegance with a vanity including double sinks and luxurious quartz counters. Recent upgrades include a new roof installed in 2021 and a new HVAC system added in 2023, ensuring comfort and peace of mind for years to come. All windows have been replaced, except for one, providing enhanced energy efficiency throughout the home. The kitchen features raised panel cabinets, a sleek tile backsplash, and a large island giving it an abundance of counter space for meal preparation. Ceiling fans and crown molding add both style and functionality to the living spaces. Additional amenities include a fridge, dual flush toilet for water conservation, and a spacious detached barn/garage (32 x 12), complete with drywall and insulation, offering ample storage space for all your outdoor gear and equipment. Outside, the property is adorned with fresh exterior paint and includes a recently filled propane tank for added convenience. 2 acre properties in this price range are not easy to come by in New River!
40779 N Citrus Canyon Trail Phoenix, AZ 85086
Open House
$490,000
3
Beds
2
Baths
1,638
SqFt
Status
Active
MLS #
6659726
Property Type
Single Family Residence
Price Type
--
Welcome to your perfect retreat! Amazing View Lot Backyard. This 3-bed, 2-bath gem features an inviting open floor plan, backed by a tranquil open space. Enjoy the low-maintenance backyard with extended pavers, a darling gazebo, and a charming front porch. Inside, relish modern updates such as new granite kitchen countertops, updated carpet, ceiling fans, lights, and faucets. Community perks include the Anthem Community Center with a water park, tennis courts, parks, and more. Embrace comfort and style in this meticulously cared-for home - your sanctuary awaits!
17943 W Townley Avenue Waddell, AZ 85355
$489,999
4
Beds
3
Baths
2,045
SqFt
Status
Active
MLS #
6691608
Property Type
Single Family Residence
Price Type
--
Amazing opportunity to move into a newly built(2023) move-in ready popular Sapphire open floor plan with mountain views. This home has 4 bedrooms,3 full bathrooms and teen/great room.The kitchen boast stainless-steel appliances, quartz countertops and a center island that opens up to spacious living area that has large sliders, which open up to a beautiful finished backyard landscaping. The primary suite showcase a generous walk-in closet and upgraded primary bath.Home has a Tesla charger installed in garage. Super friendly and quiet neighborhood with multiple parks that are walking distance. Minutes away from tons of shopping, new commercial development,Costco and White Tank Foothill hiking and campground. Home is nearby great schools (Legacy/American leadership academy. Don't miss out!
811 E Seldon Lane Phoenix, AZ 85020
$489,999
5
Beds
3
Baths
2,295
SqFt
Status
Active
MLS #
6677093
Property Type
Single Family Residence
Price Type
--
**NO HOA - NEW AC** North Phoenix house with mountain views in a beautiful neighborhood. This is one of the largest floorplans in the area (addition fully permitted - sq. footage on tax records incorrect) with attached 620 sf apartment that comes with a separate entrance, full bath, fridge, and kitchen sink. Wonderful opportunity to own in the highly desired North Phoenix Sunnyslope area.
20093 W Montecito Avenue Litchfield Park, AZ 85340
$489,995
4
Beds
3
Baths
2,200
SqFt
Status
Active
MLS #
6651677
Property Type
Single Family Residence
Price Type
--
Discover this attractive Alden home, ready for quick move-in! Included features: a spacious great room; a dining nook with multi-slide doors overlooking a wide covered patio; an impressive kitchen boasting 42'' cabinets, a center island, a walk-in pantry and stainless-steel appliances. a luxurious primary suite showcasing a private bath with double sinks and an oversized walk-in closet; and a fourth bedroom and third bath. You'll also appreciate 12'' x 24'' stone tile flooring, added windows, cultured marble bathroom countertops, front yard landscaping and a concrete-paver driveway and walkway.
4016 N 152nd Drive Goodyear, AZ 85395
New
$489,995
3
Beds
2
Baths
1,829
SqFt
Status
Active
MLS #
6693331
Property Type
Single Family Residence
Price Type
--
Welcome home to this amazing 3 bedroom split floorplan. As you enter you will be greeted with your open kitchen & family room with vaulted ceilings. Kitchen has been fully updated with white shaker cabinets w/ soft close, granite counter tops with waterfall edge, stainless steel appliances & matte gold hardware. Living room boasts cozy fireplace with decorative feature wall. LVP flooring throughout home. Bathrooms tastefully updated with modern tile, cabinetry & fixtures. Lush backyard with large covered patio perfect for entertaining or just relaxing. All lighting has been updated. 2 car garage w/ attached cabinets. Come enjoy the Pebblecreek lifestyle!
18186 W Amber Ridge Way Goodyear, AZ 85338
$489,995
4
Beds
3
Baths
1,991
SqFt
Status
Active
MLS #
6590508
Property Type
Single Family Residence
Price Type
--
Versatile single-level home design with designer upgrades throughout. The open kitchen, casual dining area, and great room flow seamlessly to a large covered patio, ideal for indoor-outdoor living. The serene primary bedroom suite showcases a luxe bathroom with a dual-sink vanity, walk-in shower, and large walk-in closet. The secondary bedrooms feature roomy closets and access to two shared hall baths, one with separate dual-sink vanity area.
32166 N Buckaroo Road San Tan Valley, AZ 85140
New
$489,990
3
Beds
2.5
Baths
2,507
SqFt
Status
Active
MLS #
6693627
Property Type
Single Family Residence
Price Type
--
Introducing Topaz floor plan. This single-story haven boasts a perfect fusion of modern charm and functional design. This home spans a comfortable and efficient layout across 2507 square feet.Nestled in the city of San Tan Valley, the exterior exudes curb appeal with its spanish facade and desert landscaped front yard. Step through the front door into a welcoming foyer, where the seamless flow of the open-concept design invites you further into the heart of the home, showcasing the 8' doors.The heart of the home, the kitchen, is adorned with quartz countertops, stainless steel appliances, separate dining and a convenient center island.The owner suite includes a well-appointed bathroom, and ample closet space. Two additional bedrooms provide comfort and convenience for family members or or guests. The den, a versatile space serves as the perfect home office, library, or cozy retreat for relaxation. 4 panel sliding glass doors open to the backyard where outdoor living comes to life. Whether hosting barbecues, gardening, or simply enjoying a quiet evening under the stars, the backyard offers a private escape. Embrace the ease of single-story living in this thoughtfully designed residence, where every detail has been carefully considered for the ultimate in modern lifestyle.
2857 W Monte Way Laveen, AZ 85339
$489,990
5
Beds
3
Baths
2,373
SqFt
Status
Active
MLS #
6642248
Property Type
Single Family Residence
Price Type
--
This two-story home features an 8-ft. entry door and 9-ft. first floor ceilings. The open concept floor plan includes a spacious great room with access to an extended covered back patio. The kitchen boasts granite counters, an expansive center island, and 42-in. upper cabinets for added storage space. You'll also find porcelain tile flooring and a bedroom with full bath on the first level. Moving upstairs, the bedrooms and common areas feature plush carpeting, with porcelain tile flooring in the laundry and baths. The spacious laundry room also includes granite countertops, a deep-set sink, and linen closet. sq./ft. lot with a generous side yard and spectacular views of South Mountain.
10227 S 55th Drive Laveen, AZ 85339
$489,990
4
Beds
3
Baths
2,150
SqFt
Status
Active
MLS #
6679381
Property Type
Single Family Residence
Price Type
--
Come see this great single-story home that provides so much! With 4 bedrooms plus a den, 3 full baths, and a 3 car garage this layout is ideal. The outside of the home is a modern desert exterior that provides a nice contemporary curb appeal upon walking through the front door. The primary bedroom sits in the back of the home, so it provides nice privacy in an otherwise open concept home. The kitchen has a large island that overlooks into the dining and living area making it great for hosting and entertaining. This home offers beautiful white shaker style cabinets in the kitchen and bathrooms. A clean gray quartz kitchen countertop in the kitchen, and guess what there's more! Right now, Ashton Woods is pleased to include ALL APPLIANCES in this home.
16854 W Cortaro Point Drive Surprise, AZ 85387
$489,990
2
Beds
2
Baths
2,149
SqFt
Status
Active
MLS #
6659969
Property Type
Single Family Residence
Price Type
--
Spacious Verano model... Priced to sell. 2 bedrooms and a den. Large entertaining space through out. Large extended covered patio. Close to the pool, work out facility and outdoor sports like Golf and Pickle Ball courts. Electric cook top but also plumbed for gas underneath cook top. All appliances included, including an extra laundry room refrigerator.
31015 N 251st Avenue Wittmann, AZ 85361
$489,900
4
Beds
2
Baths
1,750
SqFt
Status
Active
MLS #
6671042
Property Type
Single Family Residence
Price Type
--
Welcome to your stunning newly built home on 1 acre ranch with beautiful surrounding mountain views! New homes built near the home and throughout Wittmann. Enter the home into a sizeable grand room with dining area and kitchen. Wood plank-like tiling throughout the home with ceiling fans in the great room and all bedrooms. Kitchen has granite on large island and countertops, SS microwave and oven/stove. Large primary bedroom and ensuite bathroom with double sinks w/ granite, tiled shower, toilet room, and linen closet. Walk in closet with shelving. Guest bath also has double sinks w/ granite and a tiled shower/tub. Ample size additional 3 bedrooms complete the interior. Covered patio and land provides ample space for your horses, toys, sheds, etc. No HOA! Welcome home & to ranch living!