Your Term Mortgage

A more flexible mortgage term.

  • Do you want the perks of a refinance, but don’t want to backtrack on the years you have already paid?
  • Are you looking to strategize your monthly budget with upcoming life events?

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.) You can refinance up to 95% of your home’s current value with this program, or you can buy a primary residence with as little as 5% down. Your loan amount can be as little as $25,000 and as high as $510,400.

There are several instances where this loan program can benefit a homeowner. First, if you have been paying 9 years on a 30 year loan, you can refinance with a better rate, but stay on track with only 21 years left to pay. Second scenario comes from those who consistently add principle to their monthly payments. You can decrease you interest rate with a refinance by adding that extra principle payment each month in the official loan terms. Third, you can customize your loan terms based on your ideal monthly budget. You tell us how much you want to pay monthly, and we can design a loan, with desired loan length, in conjunction with the current interest rates to customize a loan that’s perfect for you. Last, this program is ideal for those who are mapping out monthly expenses into retirement years, or around kids attending college. If you know in 10 or 12 years you will need to increase your cash flow, we can use this program to pay off your home in time to meet those goals.


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