[b][Salt Lake City, May 2, 2016][/b] – City Creek Mortgage’s no-cost loans can be very beneficial for those who knows how to use them. The company explains the basic concept of no-cost loans, intended for new clients.

[b]A Quick Overview Of City Creek’s No-Cost Loans[/b]

City Creek Mortgage stresses that it’s possible for anyone to secure a mortgage without worrying about closing costs. With this type of loan, all fees are incurred, such as title, underwriting, and appraisal. The company is able to charge no closing costs due to investors who compensate the enterprise fully. As a result, the clients are entitled to as many benefits as possible.

[b]The Truth About No-Cost Loans Revealed[/b]

City Creek Mortgage maintains that any home loan always involves certain fees, covering several facets like appraisers, title companies, and underwriters. It’s worth noting that there’s either a credit or a cost linked to each interest rate. Interest rates, which offer credit, will use the amount to cover basic closing costs. Therefore, a credit rate equal to or greater than basic closing costs render the loan as a no-cost mortgage.

[b]Crunching Numbers[/b]

City Creek Mortgage cites a $225,000 loan as an example. A 3.75% rate may associate a 1% cost of the total loan amount. The cost of the rate is at $2,250, flat closing costs stand at $2,462, and total closing costs tally $4,712.

On the other hand, a 4.125% rate may offer a 1.125% credit for the same loan amount. That amounts to $2,531, with flat closing costs at $2,462, and total closing costs of $69. The total difference in closing costs is at a considerable $4,781.

[b]About City Creek Mortgage[/b]

City Creek Mortgage is among the most established mortgage companies in Salt Lake City, Utah. It is different from its counterparts in the field thanks to the specific pool of talent the company prides as its team. The service is much more personalized since City Creek Mortgage doesn’t employ independent or commission-based mortgage loan officers.

Furthermore, City Creek Mortgage is among several Gephardt-approved companies. It has earned this distinction through a stringent screening process, which found no complaints — whether official or unofficial — about the company’s services. It’s because one of City Creek Mortgage’s foremost goals is to build lifetime connections with their clientele.

For more information on other services, visit their website at https://citycreekmortgage.com.