Last Updated: 04/18/2025
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Highlights
Credit Score Range
600 - 850
Amount Range
N/A
Loan Term (Years)
10 - 30
Gate City Bank Mortgage Loans Review
Gate City Bank Mortgage Loans is offered by Gate City Bank (NMLS #435154), a bank founded in 1923 and based in Fargo, ND. Gate City Bank mortgage are available in 2 states.
Key Takeaways
- Only two mortgage programs offered. Gate City Bank Mortgage Loans provides FHA VA conforming and conventional mortgages.
- Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
- Standard interest rates types. Gate City Bank Mortgage Loans offers adjustable-rate mortgages and fixed-rate mortgages.
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- Fast process. In some cases you can close on your home loan within 6 business days.
- Origination fees of 0% to 5%. This is on the high end for lenders on SuperMoney's database.
- Cosigner applications accepted. Applying for Gate City Bank Mortgage Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
- Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Gate City Bank Mortgage Loans.
Gate City Bank Mortgage Loans Pros & Cons
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Gate City Bank mortgage FAQ
What is the maximum loan term you can get with Gate City Bank mortgage?
Gate City Bank mortgage offers mortgages with terms ranging from 10 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What mortgage rates does Gate City Bank offer?
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
What is the estimated funding time?
Gate City Bank mortgage will typically fund mortgages within 6 and 10 days of approval.
Do they charge mortgage origination fees?
Yes, Gate City Bank mortgage may charge a loan origination fee of 0% to 5% of the loan amount .
Does Gate City Bank mortgage charge prepayment fees?
No, Gate City Bank mortgage does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs are available?
Besides conventional mortgages, Gate City Bank mortgage offers the following mortgage types:
- FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
What property usage types does Gate City Bank mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Gate City Bank mortgage allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Investment properties and house flipping projects
What is the customer service phone number?
The customer service number for Gate City Bank Mortgage Loans is (800) 423-3344.
What is the support contact email?
The support contact email for is socialmedia@gatecity.bank.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
SundayClosedMonday7:00AM - 10:00PMTuesday7:00AM - 10:00PMWednesday7:00AM - 10:00PMThursday7:00AM - 10:00PMFriday7:00AM - 10:00PMSaturdayInvalid DateTime - 6:00PM
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