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.
- Adjustable-rate mortgage (ARM)
- 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
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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