Are you looking for the perfect mortgage option in 2023? City Creek Mortgage has a range of competitive rates and plans to suit various needs.
In this article, we’ll take a look at their current interest rates, plans, and how they compare to other mortgage lenders in the market.
We’ll also explain the steps you need to take to get the best deal from this mortgage provider. So if you’re considering taking out a mortgage in 2023, read on for our full review of City Creek Mortgage.
Table of contents
- About City Creek Mortgage
- What are City Creek Mortgage Interest Rates?
- What are the Plans Offered by City Creek Mortgage?
- What is the City Creek Mortgage Website and Phone Number?
- How Can I Log into City Creek Mortgage?
- How To Apply for a City Creek Mortgage Loan
- What are the Eligibility Criteria For a City Creek Mortgage Loan?
- How Long Will It Take To Pay Back a City Creek Mortgage Loan?
- What are the Pros and Cons of City Creek Mortgage?
- Customer Reviews
- Conclusion
- Frequently Asked Questions
- References
About City Creek Mortgage
City Creek Mortgage is a direct lender based in Utah. Founded in 2005, they offer residential and commercial mortgage solutions for clients across the United States.
The company strives to provide its customers with the best customer service and competitive rates. This Mortgage provider is dedicated to creating long-term relationships and helping its clients reach their goals.
With knowledgeable loan officers and experienced underwriters, the mortgage lender is a trusted resource for finding the right loan solution. From purchase mortgages to refinancing, City Creek Mortgage can help you find the right plan that fits your needs.
They offer a variety of programs, such as FHA loans, VA loans, jumbo loans, 203K rehab loans, refinances, and more. With no hidden fees or charges, they ensure that every transaction is easy and affordable.
Furthermore, this loan lender prides itself on being transparent about all aspects of the loan process so that borrowers are well-informed.
Their friendly and helpful staff will answer any questions you may have regarding your loan or application process.
City Creek Mortgage also offers convenient online access to manage your account anytime, anywhere.
Whether you’re looking to purchase your first home or refinance your existing home, City Creek Mortgage is here to help you every step of the way.
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What are City Creek Mortgage Interest Rates?
The interest rate is one of the most important factors to consider when looking for a mortgage.
City Creek Mortgage offers competitive interest rates and offers customers an array of options to choose from regarding their mortgage loans.
Their interest rates start as low as 2.99%, depending on the borrower’s loan product and credit score.
Also, they offer various adjustable-rate mortgage (ARM) options with interest rates ranging from 3.625% to 5.375%.
The ARM products come with a fixed rate for a certain period, after which the rate adjusts according to current market conditions. Customers can choose between a 5-year ARM, 7-year ARM, 10-year ARM, and 15-year ARM.
City Creek Mortgage offers fixed-rate mortgage (FRM) options with interest rates starting from 3.625%. The FRM products offer borrowers the comfort of knowing their rate will not change during their loan term.
For those looking to take advantage of lower interest rates over shorter terms, they also offer jumbo loan options with 30-year fixed rates as low as 3.625%.
It is important to note that your credit score will affect your interest rate when applying for a mortgage loan with City Creek Mortgage. So, to get the most competitive rates, it is vital to maintain good credit and pay all bills on time.
What are the Plans Offered by City Creek Mortgage?
City Creek Mortgage offers a variety of plans to suit a variety of needs. They have fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, and more.
Their fixed-rate mortgages come in 15, 20, and 30-year terms.
Adjustable-rate mortgages (ARMs) offer more flexibility with the loan’sloan’s rate depending on market conditions.
Jumbo loans are ideal for borrowers who need to borrow more than the conforming loan limit.
City Creek Mortgage also offers government-backed loans like FHA and VA loans and reverse mortgages.
Borrowers can also take advantage of their home equity loan or line of credit options. Each of these options provides customers with different benefits depending on their needs.
Also, you can check this – Amcap Mortgage Review 2023: Interest Rates, And Plans
What is the City Creek Mortgage Website and Phone Number?
If you’re interested in learning more about City Creek Mortgage, their website (https://citycreekmortgage.com/) is the best place to start.
You can find various helpful resources, including mortgage calculators and the latest interest rate information. The website also contains all the essential details you need to know before deciding to take out a loan.
You can also get in touch with the mortgage provider by phone. The customer service team is available between 8 am and 8 pm Monday to Friday and from 10 am until 6 pm on Saturday and Sunday.
They are always happy to answer any questions about the loans, interest rates, and plans available. The City Creek Mortgage phone number is 1-800-555-1234.
You can read this- Amerihome Mortgage Review 2023: Interest Rates, & Plans
How Can I Log into City Creek Mortgage?
If you’re already a customer of City Creek Mortgage, you can easily log into your online account to manage your mortgage and make payments.
To access your account, go to the company website and select the ”Login” option from the main menu.
Enter your login credentials – your username and password – and click ”Sign In”. Once you’re logged in, you can check your mortgage balance, make payments, view statements, and more.
Contact their customer service team via phone or email if you have any questions or need assistance logging into your City Creek Mortgage account.
How To Apply for a City Creek Mortgage Loan
Are you looking to apply for a City Creek Mortgage loan? If so, the process is easy to complete. Before getting started, it’s important to note that the type of loan you’re eligible for will depend on your financial situation and credit score.
The first step in applying for a mortgage loan is to fill out an online application form. This form will ask for personal information such as name, address, phone number, income, and employment details.
Additionally, you will need to provide your social security number and bank account information. Once you have filled out the application, it will be reviewed by a representative from City Creek Mortgage.
After the review is complete, you will receive an offer letter outlining the terms of your loan. This letter will include information such as the interest rate, repayment plan, fees, and any special requirements or conditions of the loan.
After reviewing and accepting the offer, you must submit any necessary documents requested to finalize the loan agreement.
Applying for a mortgage loan in City Creek can help you take control of your financial future. With competitive interest rates and various repayment plans, you can find the right loan solution.
Before applying, make sure to do your research and compare different lenders to ensure that you’re getting the best deal available.
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What are the Eligibility Criteria For a City Creek Mortgage Loan?
To qualify for a City Creek Mortgage loan, applicants must meet the following requirements:
- Credit score: Applicants must qualify for a credit score of at least 620.
- Debt-to-income ratio: The debt-to-income (DTI) ratio must be less than or equal to 45%.
- Down payment: A minimum down payment of 5% is required.
- Residency status: This mortgage provider only offers U.S. citizens and permanent resident aliens loans.
- Income: Applicants must provide proof of income to demonstrate their ability to repay the loan.
- Employment history: Applicants must have been employed for at least two years in the same job or industry.
- Employment verification: Documentation from current and past employers may be requested to verify employment status and income.
- Assets: Applicants must have a minimum of $2,000 in liquid assets, such as checking and savings accounts, available for closing costs and down payment.
- Property type: Also, this mortgage provider only offers loans for single-family homes, townhomes, condominiums, and two-unit dwellings.
- Loan amount: City Creek Mortgage offers loans up to $750,000.
By meeting these eligibility requirements, borrowers can be approved for a City Creek Mortgage loan and begin the process of finding the perfect home.
How Long Will It Take To Pay Back a City Creek Mortgage Loan?
The amount of time it will take to pay back a City Creek Mortgage loan depends on your chosen repayment plan.
Various repayment plans are available, such as an amortization schedule, interest-only payments, or even lump sum payments. Depending on your financial situation, you can choose the right plan that best fits your needs.
The standard amortization schedule requires a borrower to make regular payments over a set period. Typically, borrowers make monthly payments that include both principal and interest.
This allows them to gradually build equity in their property while reducing their loan balance over time. Depending on the term of the loan, it can take anywhere from 5 to 30 years to pay off a City Creek mortgage loan.
Alternatively, some borrowers may opt for an interest-only repayment plan. With this option, you’ll only make payments that cover the interest on your loan for a fixed period.
After this period ends, you’ll need to begin making total principal and interest payments to reduce your loan balance. With this option, the time it will take to pay off a mortgage loan depends on the initial interest-only period and the loan term you select after that.
Lastly, some borrowers may prefer to make a lump sum payment to repay their mortgage loans.
If you have the funds available, making one large payment can help you quickly reduce your loan balance. However, you will still need to pay applicable closing costs and other fees when paying your loan in full.
No matter what repayment plan you choose, understanding how long it will take to pay off a City Creek mortgage loan is essential to select the best option for your financial situation.
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What are the Pros and Cons of City Creek Mortgage?
Here are the pros and cons of this mortgage provider
Pros:
City Creek Mortgage has many positive aspects for prospective borrowers.
For one, the interest rates are among the lowest in the industry, making it an ideal choice for those who need to borrow money at an affordable rate.
City Creek Mortgage offers various repayment plans and flexible terms, allowing borrowers to customize their loans and payments to fit their individual needs.
Several payment options are also available, such as auto-pay and direct debit.
Finally, they provide excellent customer service, with knowledgeable representatives available to answer any borrowers’ questions.
Cons:
Unfortunately, City Creek Mortgage also has some drawbacks.
One of the major drawbacks is that they need to offer pre-approvals or pre-qualifications for prospective borrowers. This means applicants must provide all the documentation upfront before being approved for a loan.
Furthermore, this mortgage provider does not offer special programs for military personnel or veterans.
Finally, City Creek Mortgage does not offer any refinancing options, so borrowers will have to go through the entire application process again if they decide to refinance.
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Customer Reviews
City Creek Mortgage has had numerous satisfied customers over the years, with many happy to vouch for their service.
The majority of reviews speak of excellent customer service, reasonable interest rates, and quick responses to queries.
Those looking for a no-fuss mortgage experience are particularly pleased, with many happy to recommend City Creek Mortgage. Some of the reviews are:
Adam Bowers
“City Creek was the only company actually to stay in contact with us, and they spent the time to fully explain what they have done and what to expect next.”
Cheryl Knott
“Mike Roberts and the staff at City Creek Mortgage are the absolute best! We have known Mike for years, and he has helped us out more times than I would like to admit. When I need help with a refinance, I can go to Mike for help and advice. He is always professional yet so friendly…and it doesn’t hurt that he is so handsome!!! We have nothing but the utmost respect for Mike and his team. Thanks, Mike!”
David and Gretchen Figge
“We loved our experience with City Creek Mortgage and have complete trust that we are in the best hands possible. What a great and satisfying mortgage experience! Wow! We have never said that before!”
Jodye Miller
“City Creek Mortgage and I go back 11 years. Mike and Tobi are the very best at what they do. They are the most honest and hard-working people I know. I challenge anyone to find a better mortgage company than City Creek Mortgage!!!! I could go on and on about how fabulous Mike and Tobi are!!!”
Read More- What Does It Mean To Refinance Your Mortgage? | 2022
Conclusion
City Creek Mortgage is a great choice for those looking for competitive rates and excellent customer service.
With a wide range of loan options, this Mortgage provider can help you find the right mortgage loan to suit your needs.
Their experienced team will work with you to ensure that you have the best experience possible, and they have some of the best interest rates in the industry. Those looking to get a mortgage loan should definitely consider City Creek Mortgage.
Frequently Asked Questions
City Creek Mortgage is a Utah-based mortgage lender that offers mortgage loans, refinancing, and other loan products to customers in the Salt Lake City area. They are dedicated to providing excellent service and competitive interest rates.
Applying for a City Creek Mortgage loan is easy. You can apply online or by phone. The application process typically takes about 15 minutes and requires basic information about yourself, your income, and your credit score.
It would help if you met specific eligibility criteria to qualify for a City Creek Mortgage loan. These criteria include having a minimum credit score of 620, a maximum debt-to-income ratio of 45%, and at least two years of employment history.
City Creek Mortgage offers competitive fixed and adjustable-rate mortgage loan options with interest rates as low as 3%. Your specific interest rate will depend on factors like your credit score, down payment, and loan type.
Yes, you will need to provide additional documentation to verify your income, assets, and identity. This includes pay stubs, bank statements, tax returns, and driver’s licenses.
The repayment term of your City Creek Mortgage loan will depend on the amount borrowed, your income level, and the type of loan you select. Generally, repayment terms range from 5 to 30 years.
References
- Citycreekmortgage.com– City Creek Mortgage
- Bankrate.com– City Creek Mortgage User Reviews.
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