City Creek Mortgage News

Within the world of finance and big business, it’s easy to get caught up in our own little bubble. Life has tons of stressors, and the daily grind can be exhausting.

Leading a fulfilling life is about more than just our own selfish ambitions, however. Giving back to the community and those less fortunate around us is a redeeming and wholesome activity – the best part of giving is receiving, as they say.

For those of us in solid financial positions and leading comfortable lives, the importance of service to the community is even greater. It takes hard work to reach that point, of course, but none of us got there without a few stokes of luck in the right places – and it behooves us to reach out to those who have been less fortunate in their lives. Here are a few reasons why your business giving back to the community can be a major positive for everyone involved:

Paying it Forward

Community service is about paying our good fortune forward to people who haven’t been so lucky. By volunteering of ourselves to help others, we’re setting an example throughout the community and for our children. The world would be a cold place if we never helped our fellow man in times of need, and setting the standard in your community is a great place to start.

Strengthen Community

Community service activities are a fantastic way to not only help the community, but bring it together. Especially in smaller communities, these are opportunities for people from all walks of life to cross paths in a positive environment. This community strength can be particularly valuable in extreme times of need, like a natural disaster or a death of an important community figure.

Saved Resources

There are many practical benefits to community service, as well. Over 25 percent of American residents volunteer their time each year, according to the Corporation for National and Community Service, and this generates nearly 8 billion hours of service and over $175 billion worth of service hours. On top of that, over half the country gives at least $25 to some charity. These are massive sums going to well-deserving causes.

Health Benefits

Giving back to someone in need just feels good – and that’s because it quite literally is. Acts of service have been proven to reduce stress levels in many people, and stress can be a direct cause of conditions like heart disease and high blood pressure. Low-stress individuals are often happier and healthier, benefits that can lead to increased illness resistance. Selfish reasons like these should never be the first cause for us to give back, but they certainly don’t hurt either.

How City Creek Mortgage Gives Back

At City Creek Mortgage, giving back to our Utah community is one of the pillars of our business. We find our daily tasks easier when we know we’ve helped serve those in need around us. Here are a couple of our most recent projects:

Blessing Bags:

As the holiday season approaches, so does colder weather and greater amounts of need. Because it can be tough to know exactly where money is going once we give it to a person in need, and with a nod to the giving season fast approaching, we’re creating Blessing Bags.

Blessing Bags take the place of cash, and can be given as a kind of essentials bag to people in need of these basic items. Things like snacks, water bottles, hygiene items and even small fast food gift cards are all potential Blessing Bag fillers.

We’d love your help here! Hand out your own Blessing Bags and post pictures on our Facebook page.

Rescue Rovers:

At City Creek Mortgage, we support Rescue Rovers, a local dog shelter. Humans aren’t the only ones in need at this time of year, after all. There are plenty of pups in search of nothing but a friendly home with someone to care for them, and you can save a life by applying on their website or by calling 435-565-4031.

Veterans have distinctive needs and requirements that are different from civilians. Is your mortgage company veteran-friendly? If not, they need to be accommodating to veterans respectfully and effectively.

Here are some reasons your company should be veteran-friendly:

Veterans Have Different Needs

Typically, veterans have different and unique needs not like that of civilian homebuyers. Such as the VA has minimum property requirements that veterans have to meet when searching for a home in order to qualify for a VA loan.

A mortgage company that is veteran-friendly will identify this need and work with veterans to find a home that meets these necessities.

Veterans Choose VA-approved Lenders

Veterans are recommended to choose a mortgage company that is VA-approved because they are extremely familiar with the VA program.

These mortgage companies should be able to answer any questions veterans might have in regards to the VA loan program and easily work through any setbacks in the process.

Veterans Have Limited Time Frames

Veterans that are still on active duty tend to move often, and because of this, they need a lender who will understand that their time frame is limited.

Service members only get 10 days of leave to look for a new home, so mortgage companies should be understanding and able to accommodate this timeframe. By doing this, you will help them find a qualified home and get approved for a VA loan quickly and professionally.

Veterans Need Strong Resale Value

Veterans need homes that have good resale value and will sell fast due to the fact that they move sooner and more often than civilians.

Therefore, when they do come to your company for a VA loan, you should advise them on the best home-buying practices, such as how to avoid scams, how to maintain the value of their home, and how to create and maintain a budget.

You may have read the news that at its June 2016 meeting the Federal Open Market Committee (FOMC), a subgroup at the U.S. Federal Reserve (often called “the Fed” for short), decided to leave interest rates unchanged. Some members of the group signaled that they may still raise rates once or twice before the end of the year, though, so if you are thinking about purchasing a home, being able to understand why interest rates go up and down can help you decide if now is the right time to buy, or if it might be better to wait a little while and hope that rates go down.

Crash Course in Interest Rate Economics

The main driver for any interest rate changes is the economy, and generally speaking, the FOMC makes its decision on whether to raise, lower, or keep interest rates that same based on economic data and forecasts for things such as hiring in the labor market, total economic growth, oil prices, and consumer spending power. Since some of these things are very difficult to predict far in advance, the FOMC meets about every six weeks to assess the economy and discuss policy options.

Examining Market Factors

Oil prices dipped in 2015 and while they have increased slightly since the absolute low from last year, there are reports that this year we will see the lowest summer gas prices in more than a decade, averaging just $2.27 a gallon. For the average driver, this signals good news for your wallet, but lower prices also mean a slowdown for the job growth in the energy sector, which was a major job driver for the past few years. As with any significant reduction in hiring and job growth, this can impact interest rate changes.

Inflation is another factor that the FOMC usually looks at the determine whether to raise interest rates. Inflation causes money devaluation—meaning that $100 will buy you less tomorrow that it does today if inflation goes up. When inflation is low, investors can make a better net return from their overall returns than when inflation is high. With inflation only rising at about 1.6 percent a year, well below the Fed’s target of 2 percent, it seems likely that interest rates will remain low.

Supply and demand also plays a factor, since interest rates can be boiled down to the cost to borrow money. If there is high demand and many people who want to borrow money (as there would be in a strong economy), the price to borrow will go up. When there is low demand (as there is in a recession or during slow economic growth), the price to borrow money will go down or remain low.

Determining when interest rates will change is difficult, even for the most seasoned policy and lending experts. For that reasons, most mortgage loan advisors would recommend that you take advantage of the current low rates right now rather than waiting and hoping that they will go even lower. Talk to the experts at City Creek Mortgage today about whether a no-cost refinance loan is a good option, or whether it’s time to take the leap and buy a home instead of renting.

Are you currently living in the house of your dreams? Is your neighborhood the one you want to be in? For many people, the answer to these questions is no, and often the thing that holds people back from deciding to upgrade their current home is the cost of a new home. While it’s always important to evaluate your current financial situation before you make any decision to upgrade to a larger home or a better neighborhood, there are some potentially overlooked financial advantages to taking the leap sooner than later.
<h2><strong>Evaluating Your Financial Situation</strong></h2>
Upgrading to a larger home or a more expensive living area is going to come with an increase in your total monthly payments, and there is pretty much no way to get around that (unless you have a big pot of money you’re just looking to spend and can put a huge down payment on the new home). Because of that, it’s important that you take a critical look at your finances and talk to a lender about the cost of the new home to make sure you can afford it. If you are able to upgrade without impacting your overall budget, there can be some significant financial advantages to an upgrade.
<h2><strong>Freeing Up Cash for Your New Home</strong></h2>
Perhaps one of the top reasons that homeowners look at upgrading their home as an option is the impact it can have on cash flow. For many families, monthly credit and other debt obligations can make it difficult to afford a better home, and often these monthly bills are paying for depreciating assets or consumer debt, such as vehicles, boats, ATVs, and revolving credit accounts. These debt payments can prevent you from investing in other things that are likely to increase in value over time, such as a home or retirement account.

For homeowners who currently have equity in their home, selling your home could free up enough cash for you to pay down your other debts and finally be able to afford the upgraded home that you have always dreamed about. If you decide to go this route, though, it’s important that you avoid falling back into significant debt after you purchase a new home.
<h2><strong>Playing the Long Game</strong></h2>
While many people talk about real estate as an investment, and count it as an “asset” when analyzing your financial situation, it’s important to note that while you live in the home, and until the mortgage loan is paid off, there are still expenses associated with this investment. Even calculating the total net cost of an upgrade, weighing the increased monthly mortgage payment against the principal reduction, appreciation, and tax savings, and the projected future value, means approaching your financial gains as something you can achieve several years (even decades) from now, rather than an immediate cash benefit.

It’s important to consider all the relevant factors, and honestly assess your personal financial situation before deciding whether a move is the right choice for you. If it is, talk to <a href=”https://citycreekmortgage.com/”>City Creek Mortgage</a> about getting the best mortgage loan terms and rates.

City Creek mortgage has had an exciting start to 2014 moving into our new building just a few blocks south of our previous office. We are now located at 11910 South State Street in Draper. You can find us next to Hoopes Vision on the east side of I-15 and on the west side of State Street.

We chose this location because it is even easier to find, has much more parking and gave us the opportunity to improve the workspaces for our employees. (Also, you can see our sign on both State Street and I-15.) We’ve added more collaborative areas, a state of the art marketing studio and a spacious gourmet kitchen.

Keep your eyes open for more information about our upcoming open house. We are excited for you to take a tour and celebrate with us very soon! We look forward to another great year of serving you and your family, friends & co-workers!

City Creek mortgage is proud to spotlight our talented Art Director, Kyle Rathjen! Kyle is a passionate, award-winning photographer who brings over 12 years of experience in graphic design. In addition to taking amazing photographs, he also designs our newsletters, billboards, event invitations, marketing and branding for our top real estate agents and builders, as well as directing and editing video shoots.

Kyle’s unique design is inspired by his favorite artists and experimenting with different styles. Between his brilliant lighting techniques and extraordinary photo editing skills, he creates marketing pieces that pop. When Kyle is not busy designing, you can find him cheering on his favorite football team, the Michigan Wolverines with his family and English Bulldog, Otis.

People are amazed when they hear that City Creek mortgage holds several client events each year. They often comment that they never heard from their mortgage company again after closing.

At City Creek, we believe in relationships for life, and what better way to rekindle our friendships than to host parties where we get to see you again, watch your kids and families grow, and catch up on what’s new.

From blockbuster premieres to innovative date nights, City Creek’s parties are the must-attend events each year.

One of our most popular parties is our Pumpkin Patch, which is coming up on October 16th from 4-7pm. This is where your family can hunt for your favorite pumpkins in a huge patch, enjoy yummy treats, take a fabulous family photo and see all the fun Halloween costumes. You will receive your invitation in the mail shortly and we look forward to seeing you there.

These parties are also our way of saying THANK YOU for your continued business and gracious referrals. Without you City Creek mortgage would be just another boring old mortgage company!

From the very beginning when City Creek mortgage was just a small fledging broker breaking into the world of the big banks, Mike saw mortgages differently. They were not just a debt, but a crucial part of the overall financial picture that empowered a family to realize their dreams. He also believed in building and developing long-term relationships with each of the families that he advised to ensure that year after year they improved their situations.

 Recently, City Creek mortgage and mortgage Mike received the prestigious honor of ranking in the Top 50 Originating Teams across the country, and our core philosophy remains the same: We Believe that Empowered People Can Do Anything.

We are often asked what sets City Creek apart from other mortgage companies. Our team is comprised of some of the most experienced and educated mortgage professionals in the industry. But beyond just our foundation of knowledge, each team member truly cares about our clients and is committed to providing them an exceptional VIP experience. Our goal is to be the most Trusted, Respected and Loved mortgagecompany in the State of Utah.

We also believe in complete transparency. We tell you everything you need to know about your new loan upfront and allow you to check out our rates and fees online. If you haven’t had the opportunity to visit our newly redesigned website, we invite you to take advantage of our FIND YOUR BEST RATE feature which allows you to customize and price your loan in the privacy of your own home. But if you’re more inclined for a good old-fashioned phone call, our team is always up for a friendly conversation.

Your referrals are how we know that we are on the right track and we love working your family, friends and co-workers on their next home purchase or refinance. If you know people who are in the market, please introduce them to the City Creek family.

Here at City Creek Mortgage, it is our mission to provide every one of our clients with “5 Star” Service. In order to continually improve our customer experience, we often take time to learn from other service industry experts. Most recently, the City Creek Team traveled to Park City to spend the weekend at the Stein Eriksen Lodge. Located in Deer Valley, the Stein Eriksen Lodge is one of the only 5 Star, 5 Diamond rated hotels in the country! We learned the history of this fine hotel, the challenges they have overcome and how every Stein Eriksen employee consistently provides extraordinary service to their guests. During breakfast with the CEO we collaborated on how we could revolutionize our industry and expand our vision of becoming the most trusted, respected and loved mortgagecompany in Utah. We had an amazing time and look forward to demonstrating what we learned the next time we have to privilege of serving your mortgage needs.

From the very beginning when City Creek mortgage was just a small fledging broker breaking into the world of the big banks, Mike saw mortgages differently. Developing and sustaining relationships that helped strengthen families,mortgages were just a part of the overall financial picture that empowered

a family to realize their dreams, Recently, City Creek and mortgage Mike received the prestigious honor of ranking in the Top 50 Originating Teams across the country, but the core philosophy-though now reaching a wider audience-remains the same.

We are often asked what sets City Creek apart from other mortgage companies. Our team is comprised of some of the most experienced and educated mortgage professionals in the industry. But beyond just our foundation of knowledge, we strive to truly connect with our clients and provide an exceptional

VIP experience that builds upon our endeavor to become the most trusted, respected and loved mortgage company. When others look to build a network, we seek to grow a family.

At City Creek, our clientele extends beyond just our remarkable mortgage customers. We partner with some of the most outstanding real estate agents and builders in the state and we are committed to building lasting relationships throughout our community. In that respect, City Creek Studios was

constructed from the ground up to support our agents and builders through cutting edge marketing that includes photography, graphic design and video production.

If you haven’t had the opportunity to visit our newly redesigned website, we invite you to take advantage of our FIND YOUR BEST RATE feature which allows you to customize and price your loan in the privacy of your own home. But if you’re more inclined for a good old-fashioned phone call,

our team is always up for a friendly conversation.

Help us grow the branches of our family tree, referral business has always been the essence of City Creek’s ongoing success and we’d love to help your friends or family with their next home purchase or refinance. If you know someone who is in the market, don’t keep us a secret!