City Creek Mortgage Purchase Guarantee

Closing Guarantee – Terms and Conditions

City Creek Mortgage Purchase Guarantee


If your mortgage loan application is approved by City Creek Mortgage (“CCMC”) on the original terms requested, CCMC is guaranteeing to close your loan by the date stated in the purchase contract. If all eligibility requirements (below) are met but your loan does not close by the contract closing date because of something that CCMC did, CCMC will provide monetary compensation in the form of a check for $5,000 post closing. The guaranteed amount can only be paid out once per loan transaction regardless of the number of delays or number of applicants. CCMC reserves the right to modify or terminate the guarantee program at any time without notice.


Eligibility Requirements

  • Provide a fully executed copy of the final purchase contract to your loan officer
  • Complete and submit a fully executed loan application to CCMC no later than 15 days prior to the closing date set forth in the purchase contract. The information provided must be accurate and cannot contain any information that is fraudulent or misrepresentations.
  • Sign all disclosures within 12 hours of delivery (Intent to proceed, Loan Estimates, Closing disclosures, etc.).
  • Provide requested initial documents within 24 hours of submission of a complete and executed loan application.
  • Provide all subsequent requested and required loan documentation and information to CCMC within 12 hours of each request.
  • Subject property must appraise at or above contract sale price. Scenarios and situations that will invalidate the Guarantee.
  • Delays caused by any third party involved in the transaction (Title company, Insurance, Inspectors, Appraisers, HOA, Attorney, Real Estate Agents)
  • Closing date extensions due to improvements or repairs on the subject property or delays in the completion of a new construction property.
  • Client or seller related requested changes to the original closing date or changes to the loan.
  • Delays due to force majeure events including but not limited to natural disasters, acts of terrorism, government or military actions, labor difficulties, civil unrest, pandemics.Exclusions from the Guarantee
  • Refinance transactions
  • Loans requiring a mortgage subordination or simultaneous second mortgage
  • Loans with down payment assistance
  • Applicants who have a disputed tradeline or credit account
  • Short sale purchases



Offer recipients will be responsible for all taxes and fees associated with the receipt of the $5,000 which may be considered miscellaneous income received from City Creek Mortgage. City Creek Mortgage may be required to send to you, and file with the IRS, a Form 1099-MISC for the year in which you receive this offer. Please consult your tax advisor.


Last Updated 12.27.2021