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.
1206 W El Alba Way Chandler, AZ 85224
$475,000
3
Beds
2
Baths
1,320
SqFt
Status
Active
MLS #
6681749
Property Type
Single Family Residence
Price Type
--
New listing in Chandler's very desirable College Park community. This 3 bedroom, 2 bathroom, single level home features 1,320 sf of living space, updated kitchen, and a sparkling pebble-tec pool. This home underwent an extensive remodel in 2013. More recent updates include all new dual-pane vinyl windows, new pebble-tec pool finish, high efficiency variable speed pool pump, and travertine pool deck all done in 2021. The kitchen features beautiful wood cabinetry, granite countertops, stainless steel appliances, and a huge walk-in pantry. The wood flooring throughout the main living spaces adds a warm, rich feel to the home. The primary bedroom is bright and spacious with a walk-in closet and attached ensuite bath with a walk-in shower. Fridge, washer, & dryer included!
1843 E Anchor Drive Gilbert, AZ 85234
Open House
$475,000
3
Beds
2
Baths
1,488
SqFt
Status
Active
MLS #
6681758
Property Type
Single Family Residence
Price Type
--
Location! Location! Location! This very well taken care of one-owner home in the desirable Val Vista Lakes community boasts 3 bdrms, 2 bathrooms, plus a family room and a bonus room that can be used as an office, den, or pool table room! The open floor plan has a spacious kitchen with eating area plus a peninsula for barstool seating and a huge walk-in pantry! The mstr bdrm includes his and hers separate closets, dual vanities in the bathroom and a private toilet area, along with french doors out to the backyard! One guest bdrm also has a walk-in closet. The 2-car garage includes tons of storage cabinets. The backyard has a large grass play area and a large side yard to store all your toys! The extra-long driveway is also a huge plus. The amenities at Val Vista Lakes include 4 spacious... sports parks, meandering bicycle paths, and a luxurious clubhouse. The clubhouse features an eight-court championship tennis complex, indoor racquetball courts, cardio and weight training facilities, junior Olympic swimming pool and spa, banquet and meeting rooms, waterfalls and a tropical lagoon swimming pool with a sandy beach. A great place to call home!
3629 N 143rd Lane Goodyear, AZ 85395
$475,000
4
Beds
2.5
Baths
2,111
SqFt
Status
Active
MLS #
6682662
Property Type
Single Family Residence
Price Type
--
Fabulous 4 Bedroom home in highly sought after neighborhood with ''A'' schools! This clean home has a great floor plan that offers lots of space and flexibility. The backyard features an expansive covered patio, extended cobblestone paver patio, and a view fence looking over the community park below. Inside there is a living room, family room and upstairs bonus room. BOSE speakers in LR/dining & patio. Living area features beautiful dark wood vinyl plank flooring, kitchen has matching GE appliances in dark stainless and includes the refrigerator. The home features ceiling fans, sunscreens, security system (owner doesnt use) and more. The garage has a sink and extra storage space. Come see this great home today &... Nice feature is none of the bedrooms share a common wall. Closets or bathrooms buffer all bedroom walls. Improvements made by the current owner includes: Dark vinyl wood plank flooring All door fixtures, handles and pins were replaced with oil rubbed bronze finish fixtures. Most of the house interior was repainted in 2016, with accent colors more recently. Built-in speakers on living room and on patio. Hunter Douglas dark wood blinds throughout Exterior was repainted in 2020. Extended Paver patio installed in 2020 and expanded in 2022 New Irrigation System for the grass in back yard Garbage Disposal replaced in April 2023 .
1312 W Roma Avenue Phoenix, AZ 85013
$475,000
3
Beds
1
Bath
1,125
SqFt
Status
Active
MLS #
6682930
Property Type
Single Family Residence
Price Type
--
Charming Melrose Manor 3bed 1 bath Carport with the classic detached carriage house-garage. Flooring is the original classic concrete floors with the rich brown petina. Inside laundry room. The detached garage could make for a great addition as office, studio or Air B/B possibility. Easy access to downtown Phoenix and located in the heart of Merose.
17462 W Straight Arrow Lane Surprise, AZ 85387
$475,000
4
Beds
2
Baths
2,126
SqFt
Status
Active
MLS #
6683810
Property Type
Single Family Residence
Price Type
--
Great price for a great floorplan with a 3-car wide garage and RV gate! Upgraded kitchen has a gas cooktop, wall oven and microwave. Reverse osmosis water filter. Extra cabinets in the dining area. Cabinets in the large laundry room that is pre-plumbed for a sink. Master bedroom is very spacious. Tankless, gas hot water heater. Energy efficient and never run out of hot water! Water softener. Extra wide lot has an RV gate that is perfect for a trailer or extra vehicle storage. Back yard is large and undone. Nothing to tear out to make your dream yard! Huge grassy park is one house away. Excellent community pool if you don't want your own. NO SOLAR! You don't have to get stuck with a lease you don't want! This home is ready for your personal touches to make it what you want!
8785 E Greenview Drive Gold Canyon, AZ 85118
$475,000
2
Beds
2
Baths
1,900
SqFt
Status
Active
MLS #
6684143
Property Type
Townhouse
Price Type
--
BRAND-NEW gated townhome in the prestigious Gold Canyon community. This townhome is designed with a modern open floor plan, encompassing 2 serene bedrooms, 2 elegant baths, and a versatile den, perfect for a home office or extra guest room. The kitchen, boasting exquisite granite countertops, upgraded cabinetry, and superior stainless steel appliances. Finished with luxurious ceramic plank tile and plush carpeting, bespoke tile work in both bathrooms, a spacious walk-in closet in the Master suite, and a laundry room with extensive cabinet storage. This community offers exclusive amenities including access to a clubhouse, a pool, and a championship golf course. This townhome, recently appraised at $480,000, represents not just a home, but a lifestyle.
7827 N Sunset Ridge Prescott Valley, AZ 86315
$475,000
3
Beds
2
Baths
1,547
SqFt
Status
Active
MLS #
6685046
Property Type
Single Family Residence
Price Type
--
Turn-key, open concept, split-plan in the much sought-after Viewpoint subdivision. NEW roof (2021), NEW LVP waterpoof flooring (2021) throughout (carpet only in 2 of 3 bedrooms); freshly painted neutral interior and exterior paint (2022); all new window treatments. Open island kitchen with ample cabinets and pantry, double sided cabinet island and extra wide dining space. Spacious fenced low maintenance back yard with rear covered patio. Energy saving Gas heat; gas hot water heater; gas range/oven; and gas fireplace. Vaulted ceilings and spacious master suite with walk in closet. Lightly lived in, meticulously maintained home with low HOA fees.
51676 W Julie Lane Maricopa, AZ 85139
$475,000
3
Beds
2
Baths
1,512
SqFt
Status
Active
MLS #
6685675
Property Type
Manufactured Home
Price Type
--
$25K REDUCTION, priced to move! HORSE HAVEN...Welcome to Thunderbird Farms and a perfect property to have horses, cows, chickens, etc. This property has it all with MANY out buildings including 2 Car Garage, 4 Car carport, 220PRW SHOP, Conex Box, Cow pen, Horse Stalls, Chicken Coop, 50 X 50 Round Pen, and a HORSE ARENA!! OH YA, there is also a very well maintained 1500+ Manufactured home with Front and full length back porches. Take advantage of the beautiful view while sitting in your GAZEBO. Drive around your ''Western town'' or ride your horses in the fully fenced Arena. The home sits in Thunderbird Farms which has connected water and gas! Nothing is better than the morning and night breath taking view that can only be experienced by taking a drive out to see this magnificent property
30817 W Bellview Street Buckeye, AZ 85396
$475,000
3
Beds
2
Baths
2,171
SqFt
Status
Active
MLS #
6686245
Property Type
Manufactured Home
Price Type
--
This 3-bedroom, 2-bathroom home offers the perfect blend of rustic charm and modern convenience. GreatRoom flows seamlessly into the kitchen, epitomizing the sought-after farmhouse vibe. The heart of the home, a spacious kitchen, features ample counter space and storage, ideal for those who love to cook and entertain. Primary Suite & Guest Bedrooms include walk in closets and provide comfort and tranquility. The game room is located next to the Guest Bedrooms. Outdoors, enjoy a covered deck that invites early morning moments or relaxing evenings by the fire pit. The property boasts an ext'd 2-car garage with add'll carport, perfect for keeping your vehicles and equipment sheltered. Two on-site containers keep your belongings organized. Property is fully fenced.
10804 W Cottontail Lane Peoria, AZ 85383
$475,000
3
Beds
2
Baths
1,889
SqFt
Status
Active
MLS #
6687334
Property Type
Single Family Residence
Price Type
--
Welcome home in the desirable Tierra Del Rio subdivision! This charming 3 bed, 2 bath residence boasts a den and a bonus room off the master bedroom, perfect for a home office or gym. Enjoy gatherings in the spacious eat-in kitchen with granite countertops, island and family room. Step outside to your private backyard featuring a covered patio, a built-in BBQ synthetic grass and cozy fire pit. With a 2-car garage and proximity to shopping, schools, TSMC factory, and freeway access, this home offers both functionality and convenience. Don't miss the chance to make this your forever home!
546 S 199th Drive Buckeye, AZ 85326
$475,000
4
Beds
3
Baths
2,151
SqFt
Status
Active
MLS #
6687707
Property Type
Single Family Residence
Price Type
--
Fall in LOVE with this charming home in Blue Horizons! Offering 4 beds, 3 baths, 3-car tandem garage, & a well-manicured landscape. Discover an inviting interior that features a designer palette & wood-look tile flooring t/out. Ideal for those who love to entertain, this gem's open layout ensures seamless & enjoyable gatherings! The kitchen boasts SS appliances, granite counters, a pantry, subway tile backsplash, recessed & pendant lighting, dark wood cabinetry, and an island w/breakfast bar. Main bedroom has a tray ceiling, a walk-in closet, and an ensuite with dual sinks & a separate tub/shower. Versatile den can be an office or reading nook! There is also a storage room for added convenience. Outback, you have a covered patio, Gazebo, well-laid pavers, & artificial turf. Move-in ready!
1825 E Beautiful Lane Phoenix, AZ 85042
$475,000
4
Beds
2
Baths
2,169
SqFt
Status
Active
MLS #
6687851
Property Type
Single Family Residence
Price Type
--
$6K PAID TOWARD BUYERS CLOSING COSTS AND/OR PREPAIDS! 2169 sq ft, 3bdr plus den home in the highly sought after GATED community of Las Colinas with mature tree lined streets and sidewalks. Newly painted, new carpets, new bath & kitchen plumb fixtures, door hardware. From the moment you walk through the front door, you'll see a beautiful, open and spacious home. Split floor plan, eat in kitchen overlooking the newly landscaped backyard. Primary bedroom is large and spacious, and the primary bath features a separate tub and shower. This home is a must see! Washer and dryer were left behind by previous tenants and included in the purchase. Seller has never used them, please include washer and dryer are included as is in purchase agreement.