AZ Real Estate 09-14-14

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AZ Real Estate REACH US

|| P E N N Y W A L K E R , P E N N Y. W A L K E R @ A R I Z O N A R E P U B L I C . C O M || B U S I N E S S . A Z C E N T R A L . C O M

CATHERINE REAGOR REAL ESTATE TYPES OF CREDIT USED

10%

CREDIT SCORES ARE MADE UP OF 5 COMPONENTS:

NEW CREDIT

PAYMENT HISTORY

10%

35%

CRUNCHING THE

M

NUMBERS Here are some tips on how to raise your credit score when applying for a mortgage SUE DOERFLER THE REPUBLIC

i

AZCENTRAL.COM

Applying for a mortgage is all about numbers, particularly when it comes to your credit score. The higher your score, the less lenders perceive you as a financial risk and the better your interest rate. And the better the interest rate, the lower your monthly payments. Plus, you’ll pay less over the life of the loan. If you’ve discovered your credit score is lower than you thought, don’t panic. There are ways to increase it before you apply for a mortgage. But don’t expect a quick fix — it could take several months or longer. See CREDIT, Page R3

CREDIT HISTORY

15%

AMOUNTS OWED

30%

NUMBERS YOU NEED TO KNOW: CREDIT SCORES RANGE FROM 300-850. THE HIGHER THE BETTER. THE HIGHER THE SCORE, THE BETTER THE INTEREST RATE.

580 620-640 720 THE MINIMUM SCORE NEEDED FOR AN FHA LOAN

GENERALLY, YOU NEED A SCORE BETWEEN 620 AND 640 TO GET A MORTAGAGE

Beware of unlicensed contractors

A SCORE OF 720 AND UP IS CONSIDERED VERY GOOD

CHRISSY ASHACK/GANNETT

any Phoenix-area are homeowners looking for contractors to fix damage Monday’s after flooding due to record rainfall. But be wary. After storms, unlicensed and unethical people prey on those who need contracting work done fast. William Mundell, director of the Arizona Registrar of Contractors, warns consumers to be wary of scam artists knocking on your door looking for work and asking for cash payments. “We call them storm chasers. They usually have a shiny new truck, dress nicely and are smooth talkers,â€? he said. “They come to your door and say they have leftover materials from a project down the street and can give you a great deal.â€? He advises homeowners to say no and shut the door to these individuals and groups, who are usually unlicensed and preying on people who need work done. It’s illegal to operate as a contractor in the state without a license, which requires passing a test and possessing insurance and bonds. Consumers can file complaints to the agency about licensed contractors. Top tips from the registrar for finding a contractor: Âť Ask for written estimates from at least three contractors. Âť Check references from other customers. Âť Check on a contractors license and record of complaints at www.azroc.gov/ forms/contractorsearch.html. Âť Ensure that the price for the job and a rundown of all of the necessary work, including obtaining building permits, are covered in a written contract signed by the contractor that includes the company’s Arizona contractor license number. Âť Ask for a contractor’s See REAGOR, Page R3

Luxury Retirement Community for Active Adults Over 62 Come And Experience The Hospitality!

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To make reservations to be our guest for complimentary lunch and tour.

For more information, see our ad inside!

LUXURY RETIREMENT COMMUNITY OF SUN CITY

623-933-1313 • www.wooddalevillage.com

$5

SCOTTSDALE | 5520 East Charter Oak Road | Open Today 1-4PM

A TOTAL PACKAGE. Everything you want wrapped up on this MLS# private third-ACRE lot in the Magic 85254 Zip Code. Updated Bedrooms spacious plan with Kiva fireplace, rich wood floors, oversized tile, Bath crown molding and French exits. Two skylights illuminate the Pool kitchen with stainless and black appliances, a pantry, double wall ovens and smooth cook top. Spacious master suite with private Sq. Ft. exit and walk-in closet. Fourth bedroom currently set up as an Parking office. Spectacular guest home has two bedrooms, a granite island Lot Size kitchen, family room, dining room and laundry room. Pristine ZIP Code park-like yard. Lush lawn, open-air dining patio and inviting pool. Brand new roof, new pool filter and newer air conditioner. RV gate. Online Pics – Joseph Callaway Price

Brought to you by Those Callaways, (480) 596-5751

- 5167594 -6 -4 - Yes - 3,479 - 2-Car Garage - THIRD-ACRE - 85254 - ThoseCallaways.com - $550,000

see more inside $5

PARADISE VALLEY | 7349 North Clearwater Parkway | Open Today 1–5PM

BRAND-NEW DRAMATIC CONTEMPORARY. Perched on a MLS# tiered hillside lot high above the city, this brand-new contemporary Bedrooms boasts spellbinding views across Paradise Valley all the way to the Bath Superstition Mountains. Serpentine driveway leads to large motor Pool court. Massive living room w/floor-to-ceiling walls of view glass that showcase Camelback Mountain. Super-chic kitchen w/volume Sq. Ft. view windows overlooking shimmering city lights. Towering wineZIP Code storage wall. Idyllic master retreat w/exercise room, lavish bath. Elevator descends to lower-level media room w/beautiful bar. Online Pics Price Expansive alfresco patios. Sensational infinity-edge pool appears to hover on the far-away horizon. Visit tourfactory.com/1197017. See inside for full details, directions.

- 5139846 -5 -6 - Yes - 7,053 - 85253 - BaldwinTeam.com - $4,999,999

Brought to you by Sandra Baldwin, Russ Lyon Sotheby’s International Realty see more inside AR-0008251024-01


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