City Creek Mortgage has access to the lowest interest rates available in the country. However, this is a privilege that is only available to those considered as top tier borrowers. Furthermore, the loan process to obtain the lowest rate is often more difficult and time consuming to the borrower. Based on our review of your file, you fit within the criteria to obtain the lowest rate. However, we want to make sure you are willing to help us through the process of the extra verification and scrutiny that will be required.
What is Required from the Borrower to Achieve the Lowest Rate?
First of all, we don’t want to make this sound more difficult that it truly is. Generally speaking, most loans flow through this process without much extra effort. However, in some cases, we have found more required in the following areas:
- A full two years of taxes are required
- Unknown deposits on a bank statement must be explained and documented
- Appraisals take longer to complete
- Extra explanation may be required for income or job history
- We are subject to the underwriter’s time-lines – no rushes allowed
- Appraisal reviews and extra property scrutiny
Assuming you are willing to put in the extra effort to achieve the lowest rate, know that we will use our years of experience and expertise to help make this process as smooth as possible. We are your partners in this process and will work diligently and quickly to get your loan closed with as minimal effort as possible. When we call to ask for something that seems absurd, just remember this explanation and know that the reward will be the lowest interest rate available in the market.
Are there Alternatives?
We recognize that some would rather pay a slightly higher interest rate and have the smoothest mortgage process possible. If this fits your situation, please let us know. Our goal is to ensure that your needs are met and your final goals and objectives are obtained.
If you have any additional questions, please let us know. We are always here for you.