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Best Rate USA Mortgage Review 2024

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At a glance

Best Rate USA
NMLS: 146296
Editor's take

Best Rate USA is an offshoot of CrossCountry Mortgage, one of the biggest players in home financing. The Best Rate USA business only works with borrowers in some states, however, so you might be better off connecting with CrossCountry Mortgage for your loan.

Bankrate Score
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3.5
Rating: 3.5 stars out of 5
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Customer Rating
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5.0
Rating: 4.96 stars out of 5

1,638 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Credit Good

Min. credit score required

Undisclosed

Location

Nationwide availability

California, Connecticut, Delaware, Florida, Kentucky, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington, D.C.

Dollar Coin

Min. down payment

None for VA loans and USDA loans

At a glance

Best Rate USA

NMLS: 146296

3.5

Rating: 3.5 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Location

Nationwide Availability

California, Connecticut, Delaware, Florida, Kentucky, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington, D.C.

Credit Good

Min. credit score required

Undisclosed

Best Rate USA overview

Best Rate USA is a direct online mortgage lender affiliated with CrossCountry Mortgage. It operates in several states and offers a variety of mortgage types and a quick application process, with closings in as little as 20 days from the time you apply.

Pros and cons of Best Rate USA

Pros
  • Checkmark

    Offers standard suite of mortgage options

Cons
  • Close X

    Not available in every state

Our Editor’s Take on Best Rate USA

Best Rate USA is an offshoot of CrossCountry Mortgage, one of the biggest players in home financing. The Best Rate USA business only works with borrowers in some states, however, so you might be better off connecting with CrossCountry Mortgage for your loan.

How Bankrate scored Best Rate USA

  • Affordability: Best Rate USA makes claims of low rates, but you’ll need to get in touch with the lender directly to learn what you might qualify for.
  • Availability: Although it’s a stamp of CrossCountry Mortgage, Best Rate isn’t available everywhere like its parent. Be sure to check whether this lender is licensed in your state before you make contact.
  • Borrower experience: Best Rate USA has earned high marks from customers on Bankrate. It can be tough to get ahold of a loan representative, however.

Affordability: 6.8/10

You can’t view mortgage rates on the Best Rate USA website. Instead, you’ll need to request a rate quote, which involves providing your contact information, credit score and information about the loan you’re applying for. One of the lender’s loan officers will then contact you to discuss available rates. Best Rate USA’s lender fees can include an origination fee, rate-lock fee and other closing costs.

Availability: 7.6/10

Best Rate USA offers the basic slate of conventional and government-insured loans (FHA, VA and USDA), some of which have low down payment minimums. You can also refinance through this lender (more on that below). At the time of this review, it was only available to borrowers in about 20 states.

Borrower experience: 6.7/10

CrossCountry Mortgage, which operates Best Rate USA, has an A+ rating from the Better Business Bureau, although it isn’t accredited by the organization. It has highly favorable reviews from customers on Bankrate. Best Rate is an online lender, so you can start the loan process by requesting a rate quote through its website, but you’ll need to await contact from a loan officer to proceed. You can fill out all of the paperwork online to get preapproved for a loan, but there’s no app or chat function to get help if you need it, and a call from Bankrate during business hours to the phone number listed on the lender’s website went unanswered. When you’re ready to apply, you can browse a directory of loan officers and submit your application directly online through CrossCountry’s portal.

How to apply for a mortgage with Best Rate USA

You can apply for a mortgage with Best Rate USA online. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check 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. With any lender, you must 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. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Best Rate USA

Best Rate USA both rate-and-term and cash-out refinancing options. The lender doesn’t display its refinance rates and fees on its website, but you can get the process started by requesting a rate quote.

Compare Best Rate USA to other lenders

Best Rate USA
Rating: 3.5 stars out of 5
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3.5

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Bethpage Federal Credit Union
Rating: 4.9 stars out of 5
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4.9

Bankrate Score
Info
Read full review
First Mortgage Direct
Rating: 4.8 stars out of 5
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4.8

Bankrate Score
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Read full review

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Loans offered

Conventional, jumbo, FHA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Min. credit score required

Undisclosed

Min. credit score required

620 for conventional loans, 500 for FHA loans

Min. credit score required

620 for conventional loans, 580 for FHA loans, 580 for VA loans

Down payment

None for VA loans and USDA loans

Down payment

3% for conventional loans, 3.5% for FHA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Nationwide availability

California, Connecticut, Delaware, Florida, Kentucky, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington, D.C.

Nationwide availability

Available in all U.S. states except Texas

Nationwide availability

All U.S. states

Best Rate USA customer ratings and reviews

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NMLS: 146296

5.0

Rating: 4.96 stars out of 5

1,638 ratings

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This lender has 0 recent reviews.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5
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97%
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99% of customers would recommend this lender.