CrossCountry Mortgage Review 2024

CrossCountry Mortgage overview

Pros and cons of CrossCountry Mortgage

How Bankrate scored CrossCountry Mortgage

• Affordability: The lender’s rates aren’t listed on its website, so you might have a harder time initially comparing offers.
• Availability: This lender works with borrowers nationwide and in Puerto Rico. It boasts a deep bench of loan offerings.
• Borrower experience: CrossCountry’s platform lends some convenience to the transaction, but to get a rate quote, you’ll have to first complete a detailed form.

Affordability: 6.8/10

You won’t find CrossCountry Mortgage’s rates advertised on its website, but you can use the site to request a free rate quote.

Availability: 10/10

CrossCountry Mortgage is available to borrowers nationwide and offers the full range of home financing services. This includes conventional (conforming and non-conforming) and government-insured loans, as well as other specialty loan products including reverse mortgages. One of their main focuses is catering to first-time homebuyers by participating in and offering several down payment assistance options.

Borrower experience: 7.2/10

CrossCountry Mortgage has been a Better Business Bureau-accredited business since 2016 with an A+ rating. Its customer reviews with the BBB and Trustpilot, however, are less than stellar, although it still ranked above-average in J.D. Power’s 2023 report on mortgage origination customer satisfaction. In terms of experience, you can expect a preapproval in under 24 hours and a conditional approval in less than two days (provided you qualify), and the lender routinely closes in as little as three weeks. It also offers the convenience of an online My Loan Servicing account, where borrowers can make mortgage payments, view account information and review payment history.

Learn more: How to choose a mortgage lender

How to apply for a mortgage with CrossCountry Mortgage

You can apply for a mortgage with CrossCountry Mortgage in person at a branch location, online or by phone at 877-351-3400. Here are some tips to prepare for the process:

1. Check your credit report. Take a look at your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
2. Gather personal and financial documents. No matter which lender you choose, you’ll have to supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
3. Provide details about the property. Supply the home's address and get an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with CrossCountry Mortgage

CrossCountry Mortgage offers both rate-and-term and cash-out refinancing options. CrossCountry’s Buy Now, Refinance Later program takes some of the sting out of refinancing by giving you up to a $1,500 credit if you refi with the lender. Currently, the promotion is only open to those closing on their loan by June 30, 2024. 

Learn more: When should you refinance your mortgage?

Special programs offered by CrossCountry Mortgage

CCM Smart Start

CrossCountry Mortgage’s CCM Smart Start program provides up to $5,250 in down payment assistance for first-time homebuyers. You could be eligible if you’re a first-time buyer making 80 percent or less of your area’s median income (you can look up your area here).

CCM Community Promise

Another program for first-time homebuyers, CCM Community Promise offers up to $6,500 for buyers living in qualifying Census tracts. The program aims to promote homeownership in specific metropolitan areas in the country.

FastTrack Credit Loan Approval Program

The FastTrack Credit Approval program accelerates loan processing and underwriting by verifying your credit before you sign a home purchase agreement. Once you’re approved, you could close your loan in as few as 10 days following the signing of a purchase contract.

• Methodology

  To determine a mortgage lender's Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender's products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability. Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%

  • Availability. Loan products - 50%; licensing - 40%; credit score - 10%

  • Borrower experience. Rate transparency - 45%; customer service - 25%; convenience - 10%; days to close - 10%; rate locks - 10%; reputation (bonus)

  Learn more about our methodology.

  How we suggest lenders to compare

  To help you make the most informed decisions, our editorial team suggests two (2) alternative mortgage lenders for each lender reviewed in our comparison table. In most cases, these alternatives 1.) share the same strength (affordability, availability or borrower experience) as the lender reviewed; and 2.) rate highly for Bankrate Score. In the event more than two lenders meet these standards, we suggest the ones with the lowest APRs.