Cherry Creek Mortgage Interest Rate and Cost Review

Is Cherry Creek Mortgage a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Cherry Creek Mortgage with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (+0.03%)
Loan Related Closing Costslower than average (-$967)
National Rate and Closing Cost Rating(3.5)

On average, Cherry Creek Mortgage’s interest rates were similar to those of other lenders (+0.03%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$967. Overall, combining interest rates and closing costs we estimate that Cherry Creek Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Cherry Creek Mortgage’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Cherry Creek Mortgage was most active in:

  1. Denver, CO
  2. Colorado Springs, CO
  3. Fort Collins, CO
  4. Houston, TX
  5. Los Angeles, CA

Furthermore, Cherry Creek Mortgage is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Cheyenne, WY, for FHA mortgages
  2. Medford, OR, for VA mortgages
  3. Casper, WY, for FHA, and VA mortgages
  4. Blue River, CO, for FHA mortgages
  5. Steamboat Springs, CO, for VA mortgages

You can click through to check out Cherry Creek Mortgage’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Cherry Creek Mortgage’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Cherry Creek Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.08%-0.03%+0.12%-0.00%-0.06%
Loan Related Closing Cost Difference-$1069-$1015-$426-$85-$429
Cost Adjusted Rate Difference+0.02%-0.09%+0.11%-0.01%-0.08%
Star Rating(3.5)(4.0)(3.0)(3.5)(4.0)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.01%-0.01%+0.05%+0.00%+0.01%
Loan Related Closing Cost Difference-$1146-$233-$323-$14-$507
Cost Adjusted Rate Difference-0.05%-0.03%+0.04%+0.00%-0.02%
Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)

As a summary, Cherry Creek Mortgage is cheap for FHA and VA purchase mortgages. It is similar to other lenders for Conforming and USDA purchase mortgages. It is more expensive than other lenders for Jumbo purchase mortgages. For refinancing, Cherry Creek Mortgage is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Cherry Creek Mortgage:

Registered name: Cherry Creek Mortgage Co Inc
Registered city and state: Greenwood Village, CO, 80111
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Cherry Creek Mortgage’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.