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Cherry Creek Mortgage Review 2023

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At a glance

Cherry Creek Mortgage


Rating: 4.8 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans; reverse mortgage


Nationwide Availability

Available in 43 states; not available in Alaska, Hawaii, Massachusetts, New York, Rhode Island, Vermont, Virginia and Washington, D.C.

Credit Good

Min. credit score required

620 for conventional loans; 700 for jumbo loans; 620 for FHA loans; 620 for VA loans; 640 for USDA loans

Pros and cons

Checkmark Pros

  • Wide range of loan programs, including low-down payment options
  • Helpful calculators to estimate homeownership costs
  • Regularly updated and published rates

Close X Cons

  • Not available in every state
  • Stricter credit score requirements on some loans

Cherry Creek Mortgage overview

Cherry Creek Mortgage, also doing business as Blue Spot Home Loans, has originated more than $78 billion in loans since launching in 1987. Today, the lender has more than 75 branches, but it has been equally focused on making inroads into the online mortgage market. Blue Spot issues same-day preapprovals, and the average closing time is between 22 days and 27 days.

Cherry Creek Mortgage is good for

Borrowers who want a wide range of loan programs, easy online estimates and a fast closing

Breakdown of Cherry Creek Mortgage overall score

  • Affordability: Cherry Creek Mortgage boasts competitive rates against Bankrate’s averages. It has a varying fee structure; you’ll need to talk to a loan officer to learn what costs you might be responsible for covering at closing.

  • Availability: Cherry Creek has expanded its reach to more than 40 states and Washington, D.C., and it offers a very diverse set of loan options.

  • Borrower experience: Between the Cherry Creek and Blue Spot websites, you’ll be able to find answers to many questions you might have about a mortgage. The lender has an A+ rating from the Better Business Bureau.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 5/5

You won’t have to dig to uncover Cherry Creek Mortgage’s rates and fee estimates. The Blue Spot Home Loans’ website is updated daily with the latest rates to help you easily compare with other offers. Note that the monthly payment estimates don’t include private mortgage insurance (PMI), so if you’re planning to put down less than 20 percent on a home, you’ll want to get an idea of how much extra you might need to pay for PMI, as well. The lender’s fees vary by state and branch location.

Availability: 5/5

Cherry Creek Mortgage operates in the majority of states, but be sure to confirm availability before you go too far down the road with a preapproval. Among its loan products, this lender offers conventional, jumbo, FHA, VA and USDA mortgages. Note: For some government loans, you’ll likely need a higher credit score than what’s required by other lenders.

Borrower experience: 4.3/5

Cherry Creek Mortgage has been around for 35 years and currently has an A+ from the Better Business Bureau. The lender has received top honors on the local level, too. For example, its branch in The Woodlands, Texas, has been named the best mortgage company by the community every year for the past decade.

Between the lender’s official corporate site and Blue Spot Home Loans online, you can get a wealth of information about buying a home. The Cherry Creek Mortgage website features calculators to estimate potential tax savings from your mortgage, PMI costs, biweekly payment savings and more. Blue Spot’s website also features a simple quiz to access a live quote. While there’s no mobile app available, the lender does make the final stage of the loan process a digital experience with Smart Close, which allows you to sign the majority of your closing documents electronically.

Refinancing with Cherry Creek Mortgage

If you’re looking to refinance your mortgage, Cherry Creek Mortgage and Blue Spot Home Loans offer 15-year, 20-year and 30-year options. You can get a quick snapshot of different options online based on your credit score, current mortgage balance, location and a few other factors.

The costs to refinance include an origination fee, underwriting fee and a courier fee, although the specific price tag for each of these isn’t listed online. However, there are flexible points options to help if you want to avoid paying upfront for some of these costs. (While you’ll pay less when the loan closes, you could pay more over the life of the loan due to a higher interest rate.) When you’re ready to refinance, you can get a rate quote and apply online.

Alternatives to Cherry Creek Mortgage

  • mortgage review – offers an equally large assortment of loan programs and quick closings. Plus, there are no lender fees.
  • Rocket Mortgage review – Rocket Mortgage has the same BBB rating and better availability (all 50 states).
  • Wells Fargo Home Mortgage review – One of the biggest lenders in the U.S., this bank has thousands of branches where you can discuss your loan options.

Cherry Creek Mortgage consumer reviews



Rating: 4.9 stars out of 5

327 reviews

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About consumer ratings

Customer service rating

Rating: 4.9 stars out of 5
Level of service
Rating: 4.9 stars out of 5
Rating: 4.9 stars out of 5
Rating: 4.9 stars out of 5

98% of reviews would recommend this lender

10 of 10 rates honored

Review this lender

Write a review of your experience with Cherry Creek Mortgage.

of 43 reviews

The consumer reviews posted on ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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Written by

David McMillin

Contributing writer

David McMillin is a contributing writer for Bankrate and covers topics like credit cards, mortgages, banking, taxes and travel. David’s goal is to help readers figure out how to save more and stress less.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor