CrossCountry Mortgage Mortgage Review 2021

By Mitch Strohm

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

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NMLS: 3029

3.6

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Loans offered

Conventional, VA, FHA, USDA, fixed-rate, adjustable-rate mortgage (ARM), jumbo; refinancing options include rate-and-term refinancing, cash-out refinancing, FHA cash-out, FHA streamline, VA streamline (IRRRL), USDA streamline; home equity lines of credit (HELOCs), reverse mortgages, 203(k) loans
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Nationwide availability

Available in all U.S. states and the District of Columbia
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Min. credit score required

620 for conventional loans; 660 for jumbo loans; 500 for FHA loans

Pros and cons

Pros

  • Can close most loans in as little as 21 days
  • Extensive range of available loan types, including HELOCs
  • Dedicated loan officer throughout the process

Cons

  • Doesn't offer online process for approval; you have to speak to a loan officer
  • Doesn't publish lender fees or in-depth borrower requirements

CrossCountry Mortgage overview

CrossCountry Mortgage, also doing business as Best Rate USA, is a full-service nationwide lender featuring an extensive range of loan products and offering quick closing times to borrowers. Founded in 2003, CrossCountry is headquartered in Brecksville, Ohio. The company began as a solo venture by Ronald J. Leonhardt Jr., who now serves as president and CEO.

Loan types

  • Conventional
  • VA
  • FHA
  • USDA
  • Fixed-rate
  • Adjustable-rate mortgage (ARM)
  • Jumbo
  • Rate-and-term refinancing
  • Cash-out refinancing
  • FHA cash-out
  • FHA streamline
  • VA streamline (IRRRL)
  • USDA streamline
  • Home equity lines of credit (HELOCs)
  • Reverse mortgages
  • 203(k) loans

Lender fees

CrossCountry Mortgage does not provide lender fee information on its website, but keep in mind most lenders charge origination and application fees.

CrossCountry Mortgage offers a number of programs that can lower your obligation at closing, including FHA, USDA and VA loans. These government-backed loans may allow you to wrap closing costs into your overall monthly payment. They also sometimes provide the option for the seller to contribute to costs at closing.

Minimum borrower requirements

CrossCountry Mortgage requires sufficient income and credit history to qualify for a conventional loan. According to Fannie Mae’s guidelines, that means you’ll need a credit score of 620 or higher and a down payment of at least 3 percent. You’ll also need a debt-to-income ratio (DTI) of 43 percent or less.

You can finance up to $5 million with a jumbo loan from CrossCountry Mortgage. Jumbo loans often require a credit score of at least 660 and a low DTI.

For an FHA loan, the lender requires a down payment of at least 3.5 percent and a debt-to-income (DTI) ratio of 30 percent or less. Borrowers must also have at least two consecutive years of employment and verifiable income.

CrossCountry Mortgage follows government guidelines for VA and USDA loans. VA loans generally require a minimum credit score of 620 and a low DTI. There are no credit requirements for USDA loans, but borrowers need to meet income requirements and be located in an eligible rural area.

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CrossCountry Mortgage consumer reviews

5.0

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1565 reviews

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1523
30
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Customer service rating

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0

99% of reviews would recommend this lender

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The consumer reviews posted on Bankrate.com ("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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Great Experience

Gabe K | Alexandria, VA | 1/25/2020

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Amazing Experience!

Freddy Guzman | Worcester MA | 1/28/2020

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A Smooth Refinance Experience

Dustin | Midlothian, Virginia | 1/28/2020

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Smooth process, fast closing time

Andrew | Baltimore, MD | 1/30/2020

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Great Experience with Ray

Jennifer C. | Maryland | 1/31/2020

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Frank Englad is the Best

Kelly Stahlke | Knoxville, TN | 2/3/2020

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Great Experience

The Smieszeks | Clarksville, TN | 2/3/2020

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Wonderful experience both time!!

Nilima S. | IJAMSVILLE, MD | 2/10/2020

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Excellent experience!

R. Ramiz | Freehold, N.J. | 2/12/2020

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No closing cost 30 yr..saved a lot

K. Ford | Northern CA | 2/17/2020