Mortgage FAQ

How do I know which rate is best for me? open question
The best rate for you depends on how long youre planning on keeping the mortgage. The longer you keep it, the more you should pay up-front for a lower rate. Use our Find Your Best Rate Tool to see which rate is best for you.
How often do rates change? open question
Mortgage rates are determined by the bond market which moves every day. Mortgage prices can change multiple times per day which is why we have live 24/7 pricing online.
What does locking a rate mean? open question
Because mortgage rates change every day, it is important to lock fast! Locking in a rate means you lock in that day’s pricing for the rate. If rates get worse the next day, you are guaranteed your price.
Why are all the rates different? open question
Different loan programs and different terms all have different rates. To see any rate you want, check out our Find Your Best Rate Tool.
Is the lowest rate the best? open question
The best rate for you depends on how long youre planning on keeping the mortgage. The longer you keep it, the more you should pay up-front for a lower rate. Use our Find Your Best Rate Tool to see which rate is best for you.
Should I refi or just pay extra on my loan? open question
Most of the time, it makes more sense to refinance. If your main concern is paying as little interest as possible, we can help you get in a 15-year loan and save a ton in interest.
How long is my refi going to take? open question
Our average loan can close in less than 3 weeks if we get documents back quickly. Our goal is to make mortgages as fast and affordable as possible.
Are these refi rates real? open question
Yes, they are real! Because they are low, we get this question a lot. City Creek simply charges less.
What is Mortgage Insurance? open question
Mortgage insurance is required on conventional mortgages with a loan to value ratio higher than 80% and all FHA mortgages. It is a type of insurance charged by lenders to protect themselves from defaulting loans.
Should I pay points on my mortgage? open question
It depends on how long youre planning on keeping the mortgage. The longer you keep it, the more you should pay up-front for a lower rate. Use our Find Your Best Rate Tool to see how much you should pay in points.