City Creek Mortgage

Why go with City Creek over a credit union?

Both mortgage brokers and credit unions can be good options for refinancing or purchasing a home. Credit unions are nonprofit organizations that are owned and controlled by their members. If you have an account at a local credit union, you're likely a member. Although credit unions offer the best auto loan rates, they often have mortgage rates that are not as competitive. In some cases, they may provide personalized service and flexible underwriting criteria. Additionally, credit unions offer additional financial products and services that can be beneficial to their members. Mortgage brokers,

What’s the best loan for a residential property?

The best loan for a residential property in Utah depends on a variety of factors, including your financial situation, credit score, and the type of property you're looking to purchase. Here are a few popular loan options in Utah to consider: Conventional mortgage: A conventional mortgage is the most common mortgage type there is. It’s a loan that is not insured or guaranteed by the government. Conventional loans (sometimes called conforming loans) are an ideal loan for borrowers with good credit and a stable income. Conventional mortgages usually require a higher down payment and have strict u

Why not just use my bank as my lender?

A mortgage broker and a bank are both options for obtaining a mortgage loan, and each has its own advantages and disadvantages. Using a mortgage broker like City Creek Mortgage can be beneficial because brokers have access to a wide range of mortgage products from different lenders. This means that we can help you find the best mortgage for your needs and circumstances, saving you time by shopping around and comparing offers from multiple lenders for you. Additionally, we can help you navigate the mortgage process, offering guidance and advice. We can also help you understand the different typ

Does City Creek have licensed lenders outside of Utah?

Yes, we are licensed in nine states and growing with lenders that cover them all! Outside of Utah, we are currently licensed to do loans in Colorado, California, Florida, Illinois, Michigan, Idaho, Kansas, and Oregon. If you're not in any of those states, we can put you in touch with a trusted City Creek partner that is licensed in the state you’re looking at.

How will my credit score affect my mortgage rate?

Your credit score is one of the key factors that lenders consider when determining the interest rate they are willing to offer you on a mortgage. In general, the higher your credit score, the lower your mortgage rate will be. This is because borrowers with high credit scores are considered less risky to lenders. As a result, lenders are willing to offer them lower interest rates to purchase their home. A credit score of 740 or higher is considered excellent and can qualify you for the best mortgage rates. A score between 700 and 739 is considered good and may result in a slightly higher intere

What specialized loan products are offered?

Mortgage brokers have access to a wide range of loan products from different lenders, and we can help you find the best loan for your needs and circumstances. Some of the specialized loan products that many mortgage brokers can offer include: No Cost Loans: This is a mortgage strategy where you take a higher interest rate in exchange for a credit that covers some of the loan costs. Portfolio loans: Portfolio loans are mortgage loans that are held and serviced by the lender instead of being sold on the secondary market. These loans may offer more flexible underwriting criteria and loan terms fo