Utah boasts a vibrant community of veterans and active-duty military personnel. If you’re one of these brave individuals or a surviving spouse, we’re here to help you understand how VA refinancing can benefit you. Our focus is to provide you with information and services tailored specifically to your needs here in the Beehive State.
VA loans are a unique financial instrument exclusively available for veterans, active-duty servicemen and women, and surviving spouses. Here are the essentials you need to know:
VA Fixed Rate Loan
With a VA fixed-rate loan, there’s no need for a down payment. This significant advantage makes it easier for you to purchase or refinance a home. Furthermore, you can refinance up to 100% of your homeβs value. And if you’ve used your VA loan benefits in the past, don’t worry! You can still take advantage of this special program.
If your payments are up to date on your current VA loanβwith no more than one 30-day late payment in the past 12 monthsβyou can qualify for a VA Streamline Refinance, also known as the Interest Rate Reduction Refinance Loan (IRRRL). This refinancing process is simple, enabling you to lower your interest rate to todayβs competitive rates swiftly. Plus, closing costs can be incorporated into your loan amount.
Eligibility for VA Loans
The U.S. Department of Veterans Affairs (VA) provides various programs to support
Veterans
Active duty service members
National Guard members
Reservists
and their families in Utah.
Eligibility for a VA loan depends on several conditions, including:
You served a minimum of 90 consecutive days during wartime
You served a minimum of 181 days during peacetime
You served in the National Guard or the Reserves for more than six years
Your spouse, who was a service member, died in the line of duty or from a service-related disability
Even if you fulfill one or multiple of these conditions, final loan eligibility is determined by the VA. If youβre unsure if you qualify, weβd still encourage you to still apply. Weβll help assess your eligibility and help your navigate what can sometimes be a complex application process.
Benefits of VA Loan Refinance
A VA loan brings a host of advantages to veterans and their families in Utah:
Refinancing your VA loan offers numerous advantages for veterans and their families in Utah:
Lower Interest Rates: VA loan refinancing typically allows you to secure lower interest rates compared to conventional loans, reducing your monthly payments and saving you money over time.
Convert from Adjustable to Fixed Rate: Refinancing gives you the opportunity to convert your existing VA loan from an adjustable-rate to a fixed-rate mortgage, providing stability in your monthly payments.
Flexible Credit Requirements: VA loan refinancing has more relaxed credit requirements than conventional refinancing options, making it more accessible for veterans who’ve had credit challenges.
Finance Closing Costs: With a VA loan refinance, you have the option to roll the closing costs into the loan amount, helping you avoid out-of-pocket expenses.
Cash-Out Option: The VA’s Cash-Out Refinance Loan allows you to take cash out of your home equity to pay off debt, make home improvements, or take care of other needs.
Streamlined Process: With the VA’s Interest Rate Reduction Refinance Loan (IRRRL), you can refinance quickly and easily with no appraisal or credit underwriting package. It’s an excellent option if you’re current on your mortgage and want to lower your interest rate.
By refinancing your VA loan, you can take advantage of these benefits and adjust your mortgage to better fit your current needs and future financial goals.
Utah-specific VA Loan Benefits
In Utah, as a veteran or active-duty military personnel, you can take advantage of unique VA loan benefits such as:
Utah VA County Loan Limits
Utah counties have specific VA loan limits, which can impact the loan amount you qualify for.
With all these benefits at your disposal, a VA loan can make homeownership a reality for you in Utah. To discuss your eligibility and explore the opportunities awaiting you, contact City Creek Mortgage today.
VA Refinance FAQ
How difficult is it to get a VA refinance loan? Getting a VA refinance loan isn’t overly difficult, especially if you’re already a VA loan holder. You’ll still need to meet credit and income requirements, but they are typically more relaxed compared to conventional loan standards. This is where working with a knowledgeable broker can make the process smoother. Contact us today!
How long does underwriting take for a VA refinance? The underwriting process for a VA refinance can vary depending on your lender and your own individual circumstances. Generally, it can take anywhere from a few days to a couple of weeks. An efficient lender and timely submission of required documents can speed up the process.
What are the closing costs for a VA refinance? Closing costs for a VA refinance can vary based on the specifics of your loan, but they typically range between 1% – 3% of the loan amount. The good news is, with a VA refinance, you can often roll these costs into the loan amount, which helps you avoid up-front out-of-pocket expenses.
Why choose a VA refinance loan over a conventional refinance loan? A VA refinance loan offers several benefits over a conventional refinance loan. These include typically lower interest rates, more relaxed credit requirements, the ability to finance closing costs, and options for cash-out refinance or a streamlined refinance process with the IRRRL.
What does 3rd party settlement mean in VA refinance? A 3rd party settlement in a VA refinance refers to a process where an independent party, not the borrower or lender, manages the closing of the loan. This can include tasks such as preparing closing documents, calculating final costs, and facilitating the transaction.
What is a conditional approval on a VA refinance? A conditional approval on a VA refinance means the lender is generally willing to approve your loan, but there are specific conditions or requirements that must be met before final approval. This could include additional documentation, appraisal requirements, or resolution of certain financial or property-related issues.
ββWhat documents do I need for a VA refinance? The documentation needed for a VA refinance can vary, but generally, you’ll need to provide your current mortgage statements, recent pay stubs, W-2s or other proof of income, bank statements, and a valid government-issued ID. If you’re applying for a VA Streamline Refinance (IRRRL), the paperwork might be more minimal. Consult with your lender for a detailed list based on your unique situation.
As a Mortgage Veteran of 26 years, good Loan Officers are few and far between. I was very pleased with Troy and Marisol of City Creek. Both were very communicative, kept me updated, and got the loan done in a very reasonable amount of time.β¦ More Always kept their word and always worked efficiently, can't say enough for both of them! 5+ Stars!
Devyn & Robyn were wonderful to work with. They walked me through every step of the process and answered all my questions with patience and kindness. I would recommend City Creek Mortgage to anyone. Thank you again for helping me buy⦠More my first home! I couldn't have done it without your help!
The entire process, from start to finish, was smooth. They continually kept in contact and let me know what the next steps were. There were no surprises. Their rates and fees were very competitive and the service was top notch! I wouldn't⦠More hesitate to work with them again.
Amazing people to work with! Jordan and Marisol were prompt and professional with the whole loan process. They were patient with all my questions and concerns and did a great job at explaining things to me I didnβt understand. I highlyβ¦ More recommend using City Creek Mortgage!
Troy and Robyn at City Creek are so helpful and so friendly. They did a great job helping us get into our new home. We really feel like they have our best interests in mind!
Devyn and Sefa were absolutely wonderful in helping us get our mortgage. We had a really tight timeline and they helped us meet all the requirements and close promptly. We were able to get a full percentage point lower in our mortgage interest⦠More rate with city creek than we were with our former lender which saves a lot each month. We would definitely recommend City Creek Mortgage and working with Devyn and Sefa in particular.
I have used City Creek mortgage for 2 refinances now. Each time has been a seemless, easy, and quick experience. If you need a great place to take out a loan, I would definitely consider using City Creek Mortgage.
Alexis and Ivie worked so hard to make my home buying experience positive and easy. I loved the constant communication and follow up. You could not ask for a better team in your pocket.
Devyn and Robyn were amazing to work with and very professional. They were attentive and went the extra mile to help me. They made the loan and closing process very easy, practically holding my hand. I could not have moved forward without⦠More their help and guidance. I would totally recommend anyone interested in working with City Creek Mortgage to request working with these folks. Thank you Devyn and Robyn for everything!
Robyn Spencer has been a pleasure to work with. We had a complicated transaction with a lot of moving parts. She helped to navigate the best possible experience for our customer. I so appreciate how communicative and available she was⦠More throughout the process, for me and the customer, as well as her wealth of knowledge.
I have spoken with several different lenders. Ascent (Weber State) Credit Union, AFCU, Academy Mortgage, City Creek, Navy Federal, etc. City Creek, since we refinanced our first home several years ago has been an amazing company to work⦠More with and it all comes down to your amazing rates and customer service.
Devyn has gone above and beyond her call of duty, and that is why I have chosen her over the "preferred lender" from our contractor. Devyn has always kept in touch with us. She called us out of the blue when rates were lower so we could lock at an incredible rate. She did the work for us, which is so refreshing when so much other stuff is going on during the building process.
Devyn has earned my business because of the time she has taken to ensure we are being taken care of. She did the homework for us. I wanted to let you know how great of an experience she has provided for my wife and I, in comparison to other lenders. I hope City Creek never loses that customer experience or the great rates you provide.
"X" was the "preferred" lender for the contracting company we were working with for the past year. Our contractor and "X" were offering an extra amount to close with them instead of other lenders. They have been good to work with but we had to initiate conversations. We had to set up meetings. We had to investigate rates ourselves and keep conversations going to make sure we were meeting deadlines. Even after all this work we did, their rates were still almost a full percent higher than City Creek. I would rather have someone like Devyn and City Creek that does the work for me, and puts the customer first, then receive some extra money from a "preferred lender".
As far as underwriters go, I wanted to give Robyn a shout out as well. We have talked with other underwriters. Robyn has been professional, extremely nice, and quick in her responses. Again, different from other lenders. The overall experience with City Creek has made us feel like an actual customer, and not just a number.
Kudos to the City Creek management style. It shows in their employees.
Robyn Spencer and her team were absolutely a breeze to work with. So incredibly professional, and responsive! We are so excited to work with her again, and would absolutely recommend her.
Sefa and Alexis are literally the DREAM TEAM! I have been working with City Creek and Alexis for over a decade but they never cease to amaze me. Every transaction they are tenacious and relentless to make sure every single detail is handled⦠More perfectly. I honestly don't know why you would risk using any other lender. My most recent transaction I had the opportunity to work with sefa who was equally amazing as the rest of the team. Thanks Sefa and Alexis!!
Robyn Spencer and her team did a wonderful job on a purchase transaction we worked on together. They were responsive and on the ball. I am looking forward to the next one!
Robyn and Devyn were AMAZING and I am so grateful for them. I almost went with a company who was charging me exorbitant amounts for buy down credits etc. when I talked with city creek mortgage they got me a rate almost .5% lower and I didnβtβ¦ More have to pay for a single credit. They were there every step of the way always answering my questions. I was so stressed about my first time home buying process but once I found city creek all my nerves were eased. I have referred all of my friends and family to them because they were that good.
We had the pleasure of working with Jordan, Sefa and Ivie from City Creek Mortgage in the purchase of our first home. Every aspect of the event was smooth sailing because of their hard work and commitment to communication. I would not hesitate⦠More to recommend their services and plan to use them again in the future.
We had a great experience working with City Creek Mortgage. We felt that Alexis, our Loan Officer, was working in our best interest and in the end we secured an interest rate that was lower than expected!
City Creek Mortgage is the only mortgage company we refer family and friends to. Sefa and Alexis were a delight to work with and were both extremely knowledgeable and professional. 5 star worthy for sure!
I worked with Devyn's team as they supported a loan for my first time home buyer. So great to work with this team! The communication was constant and clear. Looking forward to working with them again!
City Creek Mortgage has always been great to work with. We have used them for a mortgage loan and refinance and every experience has been great. Nicole and Troy helped with the most recent loan and they were both great.
City Creek Mortgage worked with my wife and I on our first home mortgage. Taylor and Sefa were great to work with. Taylor was able to answer all of my questions. We were in a situation where we needed to be diligent and close with a smallβ¦ More window, they met all of our timelines. Best of all, they had the most competitive rate by far and no surprises or hidden language. Iβm so glad we went with a small local business. Thank you.
I just closed on my first home and the process from beginning to end was very smooth. I assumed it would be hard stressful but it was the opposite. Jordan and Sefa were amazing! They kept me informed of everything that was going on and⦠More were quick with responding to any questions I had. I had a great experience, thank you!
From a REALTOR, Devyn & Robyn were amazing to work with. They took such great care of my clients' needs (and mine). The speed and communication was top notch as was the attention to detail. Also they were very affordable/competitive⦠More with costs/rates. Give them a try.
Alexis, Taylor and Ivie provided excellent service throughout the entire funding process. They were always available to chat, and worked diligently to make sure we were taken care of. Always patient, and always provided excellent communication.β¦ More Would recommend to anyone!
Alexis and Taylor worked hard for us, and are so friendly! As first time home buyerβs, my husband and I had quite a few questions Alexis and Taylor were always happy to answer, we are so glad that we went with City Creek!
Pete, Sefa, and Ivie were incredible in their support throughout the entire process. They went above and beyond providing counsel and guidance. Thanks to their highly coordinated and diligent efforts we were able to rapidly move through⦠More the process. Highly impressed with the outstanding service. Strongly recommend!
Alexis is truly outstanding! I have utmost confidence in her ability to handle my clients' mortgage requirements, and she is my go-to person for all of my own mortgage needs. She is consistently accessible and swift in responding to⦠More any inquiries or worries. Working with Alexis and her team is an absolute delight. Without any reservations, I highly recommend her for all of your mortgage needs.
I canβt express how happy I am with Troy and his team! I have had 12 real estate transactions in my life so far and I have never used a mortgage company or real estate agent twice. I am used to being the one driving the process becauseβ¦ More the others couldnβt do their job. Troy was so helpful throughout the whole process, he even found me a real eater agent in Idaho that turned out to be the best real estate agent I have ever worked with. Troy, Nicole, and Sefa communicated with me regularly and I never once had to call them for an update. They also communicated with my real estate agent throughout the whole process as well. I will forever use these guys. I donβt know if everyone at City Creek is as good as Troy but you have to call him first. My loan was ready to go several days before closing. The process was so smooth and efficient.
Alexis and Carlin were awesome to work with! As a real estate agent, working with a client who is buying a home, one of the most important qualities a mortgage lender can have is to be a good communicator. Both Alexis and Carlin have⦠More this quality in spades.
Both the home buyer and myself were kept in the loop at all times, even off hours if necessary.
I am a fan.
Thanks again team!
City Creek Mortgage has the best rates, service and team. I price shopped (three separate quotes) and City Creek Mortgage won my business. My loan closed on time, and Alexis and Carlin were very responsive and communicative throughout⦠More the process. Thank you.
We can honestly provide a high recommendation for anyone that wants to work with City Creek Mortgage. We have been working with them since 1994 & we wouldnβt work with anyone else. Their teams are amazing! We most recently had the pleasureβ¦ More of working with Troy, Nicole & Carlin and again they were fantastic!!
The City Creek Mortgage team did a excellent job getting our Mortgage approved in a timely manner even when we had a change along the way . I can recommend this company to anyone. Thanks again for all your hard work.
City creek mortgage and their team were fantastic to work with. From beginning to end they made the whole process as smooth as possible. Devyn was super sweet to work with as she consistently provided updates and answered every single questionβ¦ More I had. Christian would go above and beyond and send me documents that were urgent when needed whenever the assistants were out of office which I definitely appreciated! The assistants Carlin & Nichole were great and super friendly, they always kept us posted of our next steps and weβd never worry about anything being missed as they would stay constantly stay in touch. I would definitely recommend city creek mortgage for anyone who is looking to purchase a home. Thank you for making our dreams come true of owning a home. We couldnβt have done it without city creek Mortgage
When I first connected with City Creek Mortgage, the agent - Pete, took the time to explain all my options and how to best live forward. During the whole process everyone I worked with was friendly and extremely helpful which led to a smooth⦠More transaction.
This team has been phenomenal in helping me through the process as a first home-buyer. Clear and continuous communication. I never felt pressured or hustled and they helped me feel safe in asking lots of questions. I worked mainly with⦠More Jackie and Sefa and I have nothing but positive things to say about how well they helped me! 10/5 stars if I could.
The whole experience was great! Sefa, and Troy and the team at city creek made our refinance very easy. Sefa was awesome about keeping us updated on everything That was going on. Sefa made sure all the correct documents were gathered to⦠More make for an easy closing. Troy was always helpful with answering our questions, and made sure we were taken care of!
I had a great experience using City Creek Mortgage. I really felt like they were fighting for me to have the best rate and loan possible. They are super quick with responses and very friendly to work and talk with. I absolutely would recommend⦠More working with them.
I was so impressed. Buying a house can feel overwhelming but with City Creek I feel that all of that nervous energy was absorbed, changed to positive energy and given right back to us to move forward with confidence and encouragement.β¦ More I was nervous at first and I expressed that I may need a little more frequent contact to get updates so that I was not sweating it out on our purchase. They happily obliged and called me not only when things are moving but when we were in a holding pattern as well. This helped me navigate a process that I don't go through often. Thanks Alexis and Taylor for making this a painless process.
I recently had the pleasure of working with the outstanding team at City Creek Mortgage, specifically Devyn, Nicole, and Carlin, who made my mortgage process an absolute breeze. From start to finish, their professionalism, expertise, and⦠More unwavering dedication were truly remarkable!
They each played an invaluable role in ensuring that my mortgage journey was smooth and stress-free. They demonstrated exceptional knowledge of the industry, providing me with the guidance and support I needed to make informed decisions. Their expertise was evident as they effortlessly navigated the complexities of the mortgage process, answering all my questions and addressing any concerns I had along the way.
Not only were they highly skilled, but they were also incredibly responsive and attentive. Devyn, Nicole, and Carlin were always there to promptly assist me with any queries or clarifications, making me feel like a priority throughout the entire process. (Even over the July 4th weekend!)
Their friendly and approachable demeanor made the entire experience enjoyable.
Thank you all for your outstanding service!
I had a great experience as a real estate agent working with Alexis and her team. She had great communication and got my clientβs a sweet deal on their interest rate. Everything went smoothly as expected. Will be using City Creek again.β¦ More 5 stars
Let me tell you, these guys are amazing. I am self employed and my past experience when applying for a home loan or any kind of a loan has always been hard and sometimes I have questioned why I put myself through this again, but for the⦠More first time ever, this home loan went pretty smooth. I love how city creek is with you every step of the way. From start to finish, it took less than 3 weeks to close and fund my loan. I give them 5 stars.
Troy was literally an answer to prayer! We had been given a much higher interest rate quote by another company when we saw City Creekβs billboard. We decided to give it a shot so I messaged them and they were super responsive. Troy andβ¦ More his team were honest, thorough, and managed to get us a much lower rate! We are so grateful and would recommend them to anyone!Troy was literally an answer to prayer! We had been given a much higher interest rate quote by another company when we saw City Creekβs billboard. We decided to give it a shot so I messaged them and they were super responsive. Troy and his β¦More
Devyn and Sefa were so amazing to work with on our refinance. Being business owners, these things can be tricky, and they made the process so seamless. Would recommend them to anyone!
I worked with Alexis and Taylor and they were friendly and efficient. They were happy to answer all my questions and got us to closing without any concerns. I was also very pleased that given my unique income situation Alexis was willingβ¦ More to advocate for me with the underwriter and get me approved. City Creek's rate was very competitive, and even though it wasn't the very lowest I chose them because of their approach and service.I worked with Alexis and Taylor and they were friendly and efficient. They were happy to answer all my questions and got us to closing without any concerns. I was also very pleased that given my unique income situation Alexis was willing to β¦More
Jackie Freeman provided excellent service and stellar communication. She was able to close our loan very quickly. I highly recommend her for your mortgage loan!
We were using a different lender previously and did not trust them to get the mortgage done quickly and honestly, so we decided to look at other options and City Creek saved us. They got us a much lower interest rate and we were still ableβ¦ More to close in two weeks. This is my 3rd mortgage and I can easily say that City Creek is by far the best and I won't use anyone else moving forward.We were using a different lender previously and did not trust them to get the mortgage done quickly and honestly, so we decided to look at other options and City Creek saved us. They got us a much lower interest rate and we were still able β¦More
I first want to say my experience with City Creek Mortgage has been nothing less than exceptional. I worked with Devyn, Nicole and Carlin and from start to finish they were absolutely amazing. Any questions I had they were quick to answer,β¦ More and they were great at explaining the process and steps and where were sitting and what to expect next. I canβt speak highly enough of them.I first want to say my experience with City Creek Mortgage has been nothing less than exceptional. I worked with Devyn, Nicole and Carlin and from start to finish they were absolutely amazing. Any questions I had they were quick to answer, β¦More
Jordan and Taylor at City Creek were fantastic to work with on our mortgage. They were extremely professional, on the ball and had excellent communication throughout the whole process. We had a few ups and downs as we were trying to sell⦠More our home and they were super helpful. And to top it off they got us a great rate with excellent terms on our new home!
Iβd highly recommend them and City Creek!
Bottom line: City Creek was $6,533 less when I checked their rates online than what my normal guy quoted me. I closed a few weeks later and was absolutely floored they saved me so much.
Iβm a finance professional so shopping around forβ¦ More the best price is part of who I am, especially when financing a property. For my last mortgage, I shopped around and found what I thought was a great price. So for this property I got a quote from that same mortgage company and was planning to close with them.
But I also decided to check out City Creek Mortgage. I had seen their billboards advertising rates but hadn't ever priced them out. So I used their rate search tool online which gave me everything I needed to compare apples to apples to the other quote (multiple rate options, various closing cost options, etc. all without talking to anyone).
City Creek's rate was much lower - so much lower I would have had to have paid more than $6K to the other guy to buy his rate down enough to match City Creek's. I'll never know how much of that difference was his commission, but that's way too much money to throw away. After hearing Alexis tell me she was salary-based, it all clicked. That's probably where a big portion of the savings came from.
I wish I would have tested out City Creek's rates sooner, theyβre the real deal.
Working with Taylor and Alexis over at City Creek was a breath of fresh air. I like to think that I did my due diligence during the research phase of purchasing a home and assessing mortgage lenders, and ran into all types of personalitiesβ¦ More along the way. In such a high-stress and volatile market (seller's market turned buyer's market, turned recession H2 2022) I realized that predictability and professionalism, which lead to transparency and timely communication, were the most important characteristics for me during this transaction - which City Creek nailed.I'd highly recommend anybody to work with them, and I'll refer them to anyone who asks me they should reach out to in the future.Working with Taylor and Alexis over at City Creek was a breath of fresh air. I like to think that I did my due diligence during the research phase of purchasing a home and assessing mortgage lenders, and ran into all types of personalities β¦More
Really impressed with City Creek. This is our second loan with them and we were shopping around for mortgages (wanting to be sure) and Alexis and Taylor were fantastic in helping us in easing our nerves, getting a great rate, and providing⦠More consistent updates in the process. Highly recommend. They took great care of us.
Alexis and Taylor were very nice to work with. They were responsive, and answered all my questions. I spent some time shopping around with various loan agencies and this group was my favorite. They were especially helpful for a first time⦠More home buyer - I didn't know anything, and they walked me through it step by step.
My wife and I had the pleasure of working with Taylor and Alexis at City Creek Mortgage and we are so happy we did! They were so kind, energetic, and professional through the whole process! They worked quickly and kept us updated at every⦠More point. They were quick to respond to questions and made sure we knew exactly what we were signing up for with the figures and paperwork. We would highly recommend them and can't wait to work with them more in the future!
I cannot say enough great things about my experience with Troy, Ivie and Carlin! Getting a mortgage at this time in the housing market can be very frustrating and discouraging with rates but they each made the process so much easier and⦠More minimal stress for me.
I was originally referred to my builder's "preferred lender" but wanted to shop around for rates. My builder was offering thousands in incentives towards closing costs with their lender, but I was impressed with the amount of 5 star reviews for City Creek and thought I'd see what they could offer. Troy and his team were able to secure a lower rate and lower closing costs even without the incentive money from the builder!
Troy and Ivie worked hard to think outside the box for my unique situation and Carlin worked so hard to get all the documents done in time. We even bumped up our closing date a week and Carlin was still able to get it all done without any delays! When we were at closing, even the title officer commented how much she appreciated how easy it was for her to work with Carlin on their end.
All of them had great communication through the entire process and their customer service is top-notch! I am so grateful to each of them for all that they were able to do for me and I look forward to working with them again in the future!
Highly recommend Jordan and Taylor at City Creek Mortgage. I was in the market to purchase a home and was trying to figure out which lender to use. The billboards are what drew me in and made me give them a call and Iβm very glad I did.β¦ More They were very quick and proficient at their jobs. They were transparent at providing me numbers and information. Best of all, they were able to secure the lowest rate at the lowest closing costs as well. I applied and shopped with 4 other lenders and from the very start I knew I was going to go with City Creek Mortgage simply due to their professionalism and excellent customer service. Thank you again Jordan and Taylor. I will definitely refer anyone I know in the market to you guys. In the future, you will be my Go-To for any mortgage lending needs.
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