Loan Strategies

We offer many different loan strategies, read below to get more info.

  • FHA Streamline Refinance

    • FHA streamline refinance is a program designed for homeowners who have an FHA loan,who are currently paying a higher interest rate than is presently offered, or whose homes have depreciated in value since they closed on their loan.

    • You can choose an ARM or 15-year or a 30-year fixed term.

  • VA Streamline Refinance

    • VA loans are popular among those who qualify, since there is no requirement for monthly private mortgage insurance, or a down payment.

    • If your payments are up to date on your current VA loan, with no more than one 30-day late payment in the previous 12 months, you can qualify for a VA streamline refinance, known as the Interest Rate Reduction Refinance Loan (IRRRL).

  • Rural Housing (USDA) Streamline Refinance

    • Homeowners who have a rural housing loan can take advantage of today’s lower interest rates by refinancing, quickly and efficiently.

    • The new interest rate going into effect must be at least 1% or 100 basis points lower than your current interest rate.

       

  • Your Term Mortgage

    • City Creek Mortgage is pleased to introduce a new program called, “Mortgage Your Way”

    • With a fixed mortgage rate, you can pick the years of the term, anywhere from 8 to 30. (In the past you were locked into a 5-year ARM, 15-year, 20-year, 25-year or 30-year.)

  • HARP

    •  You could qualify for HARP (Home Affordable Refinance Program) :

    • If you are one of the millions of home owners who home faced massive home value depreciation

    • And if you have continued to make timely payments

  • Home Path

    • With the 2008 housing crisis, many defaulted home loans ended up owned by Fannie Mae.

    • The HomePath mortgage allows home buyers and investors to purchase move-in ready Fannie Mae owned properties, lowering housing inventory, while providing long term perks for new owners.

  • Rural Housing

    • The United States Department of Agriculture created a single family housing program to provide homeownership opportunities for low to moderate income individuals and families in select rural areas.

  • Jumbo

    • Any home loan amount over $600,300 and up to $3,000,000 is considered a jumbo loan.

    • Available in conventional fixed-rate or adjustable rate,

    • No prepayment penalties.

  • Reverse Mortgage

    • An insured loan program that gives senior citizen, 62 and older more financial options to eliminate their monthly expenses, access cash, or move into a home that better suits their life style needs.

    • A reverse mortgage is used to pay off your existing home loan, or if the case that your home is already paid off, you can use the reverse mortgage to turn your equity into cash flow.

  • Utah Housing

    • Allow you to borrow needed money for closing costs, or a down payment.

    • You can purchase a home using an FHA loan with little or no cash down.

    • Qualified buyers can access a second mortgage for closing costs and a down payment for 4-6% of the loan value, depending on your credit score, and whether you are a first time or repeat home buyer.