CrossCountry Mortgage Review for 2022

CrossCountry Mortgage has a wide variety of loan types, strong customer service, and says it can close on most home loans in just 21 days.

Cross Country
Minimum down payment3%
Minimum credit score580
Loan Products Offered

Conventional mortgages
Jumbo mortgages
FHA mortgages
VA mortgages
USDA mortgages
HELOCs

Best Features

  • Claims to be able to close "most" loans within 21 days
  • Can help self-employed or borrowers with non-traditional income
  • Licensed in all 50 states, branches in 47

Drawbacks

  • May not always provide the lowest mortgage rates
  • Must provide personal information to get a mortgage rate quote
  • No online option for mortgage preapproval

Overview

In contrast to many modern loan originators and mortgage brokers, CrossCountry is not wholly driven by technology. It’s rapidly building a network of branch locations, and aims to help borrowers build strong relationships with loan officers. Branches in 47 states make face-to-face communication possible for many.

Unfortunately, CrossCountry does not make it easy to get a rate quote. You'll have to speak with a loan officer and give some personal information to get an idea of your potential mortgage costs.

But if you value human interaction when it comes to financial planning, CrossCountry might be worth the extra effort. Just be sure to compare offers with a few other lenders before making a final decision.


CrossCountry Mortgage rates

CrossCountry does not publish daily rates on its website. To get an estimate of the rates CrossCountry Mortgage offers, you’ll have to speak with a CCM loan officer to get a custom quote.

However, recent data show that CrossCountry’s mortgage rates, closing costs, and underwriting fees are lower on average than some other lenders. So there’s a good chance you could find a good deal — but you’ll have to get a custom quote to know for sure.

Average 30-year mortgage rates at major lenders

CrossCountry MortgageRocket MortgageWells FargoFreedom Mortgage
Avg 30-Yr Interest Rate, 202113.16%3.00%3.14%2.66%
Median Total Loan Costs, 2021$5,430$4,670$3,600$3,880
Median Origination Fee, 2021$1,590$2,430$1,330$0


Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).

CrossCountry Mortgage review for 2022

Founded in 2003 in Brecksville, Ohio, CrossCountry Mortgage, LLC is one of several mortgage companies that have entered the real estate market in the 21st century.

On its website, CrossCountry says:

"Our mission is simple: to provide you with the best possible advice and benefit to your financial needs while facilitating a straightforward, transparent mortgage process for buyers, sellers and realtors."

And, judging from its customer feedback, CrossCountry largely achieves these goals. There are relatively few complaints and plenty of five-star reviews.

For some people though, CrossCountry might put a little too much emphasis on the borrower-lender relationship. You can’t even get a rate quote online without speaking to a real-live loan officer first.

People that prefer tech-first mortgage lending might not appreciate this. However, those that want a more human experience will find a lot to like at CrossCountry mortgage.

Working with CrossCountry Mortgage

CrossCountry’s website is clean, informative, and helpful. It includes a mix of articles, video content, and FAQs to get borrowers the information they need about home loans before applying. Buyers can even use its mortgage calculator to estimate the mortgage payment of their new home.

However, you have to hand over personal data to dig below the surface. There are no general mortgage rate estimates provided, which many lenders show upfront on their websites.

And it’s hard to get a feel for CrossCountry’s “back-office functionality” (the things its IT systems can do that you don’t see) before you make an application. However, if the comapny’s claim that it “can close most loans in as few as 21 days” can be taken at face value, it must have some pretty smart technology behind the scenes.

For home buyers, CrossCountry provides mortgage preapproval through its FastTrack Credit Approval Process. As with most lenders, this process will require you to provide financial documentation verifying your income, credit, and debts, then provide you with a preapproval letter to help you make a verified offer on the home you want.

Perhaps this lender’s greatest strength is its focus on building strong relationships between borrowers and loan officers.

Of course, that won’t appeal to home buyers and homeowners who prefer an end-to-end online experience. But if you like to engage with living, breathing people, this lender might be for you.

CrossCountry customer service reviews

An abundance of good reviews — and lack of official complaints — suggest that CrossCountry Mortgage customers are generally happy with the company’s service.

The Consumer Financial Protection Bureau (CFPB) records all official complaints that borrowers file against their mortgage lenders. And in 2021, only 46 customers filed for issues with CrossCountry Mortgage. That’s less than 1 per 1,000 borrowers.

In addition, CrossCountry earns an average review score of 4.53 out of 5 across a variety of review platforms including Bankrate, LendingTree, and Zillow.

Customer service reviews at major lenders

CFPB Complaints, 20214Complaints Per 1,000 Mortgages, 20215J.D. Power Satisfaction Score, 20216
CrossCountry Mortgage460.21874/1,000
Rocket Mortgage3760.24876/1,000
Wells Fargo4880.58832/1,000
Freedom Mortgage2620.35829/1,000

Mortgage loan products at CrossCountry

One of CrossCountry’s strengths is the breadth of its loan options. It offers as many loan types — if not more — as much bigger lenders.

CrossCountry’s mortgage options include some loans with zero or low down payment requirements. You could also borrow using a home equity loan, home equity line of credit (HELOC), or a reverse mortgage.

No matter the type of home loan you need, there’s a good chance CrossCountry has what you’re looking for:

  • Conventional loans: The most popular loan option when buying a new home, these conform to limits set by Fannie Mae and Freddie Mac, which are currently $ in most of the U.S. First-time home buyers may even qualify for a conventional loan with only 3% down
  • VA loans: Only for eligible military members and veterans. VA loans offer zero down payment requirement, low rates, no continuing mortgage insurance payments, and easy credit thresholds
  • USDA loans: Only for eligible borrowers and homes in designated areas. USDA loans offer zero down payment and easy credit thresholds
  • FHA loans: Loans backed by the Federal Housing Administration (FHA) let you buy with as little as 3.5% down and easy credit thresholds. But you’ll pay mortgage insurance until you move or refinance. Additionally, CrossCountry Mortgage offers an FHA 203(K) home loan for buyers who are purchasing a property in need of significant home renovations
  • Jumbo loans: Jumbo loans are for loan amounts larger than the conventional limit. CrossCountry lets you borrow up to $5 million
  • Fixed-rate loans: Most people choose a fixed-rate mortgage (FRM), which has a steady interest rate over the entire life of the loan. CrossCountry offers FRMs ranging from 10 to 30 years
  • Adjustable-rate loans: Adjustable-rate mortgages (ARMs) have a stable interest rate for the first 3, 5, 7, or 10 years, and then your rate floats with the market for the rest of the loan term

CrossCountry may also be able to help if you want to borrow on real estate investment properties or you need a “bank statement loan.” That’s one based on your bank statements rather than on tax returns and pay stubs.

Refinancing loan options at CrossCountry

Homeowners looking to refinance their current mortgage may find what they’re looking for with this mortgage company. CrossCountry Mortgage offers several refinancing options to lower your monthly payments, shorten your loan term, take cash out, drop mortgage insurance, or change your loan type.

  • FHA Refinance
  • FHA Streamline Refinance
  • FHA Cash-Out Refinance
  • FHA 203(k) Refinance
  • VA IRRRL (VA Streamline Refinance)
  • USDA Rural Streamline Refinance
  • Jumbo Refinance

Each refinancing program has its own rules and requirements, so speak with your CCM loan officer about your options.

Where can you get a mortgage with CrossCountry?

NMLS ID: 3029

If you happen to live near a CrossCountry branch, you can sit down across the desk from a loan officer and enjoy face-to-face customer service.

CrossCountry currently has active branches across 47 states, according to NMLS Consumer Access. These include:

  • AK, AL, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, WA, WI, WV, and WY

If your state has no branches — or your local branch is far from home — your starting point will probably be CrossCountry’s website, which will undoubtedly suggest a phone call with a loan officer. Because it’s licensed in all 50 states, anyone can start the home loan process online.

You’ll likely have to provide your social security number, driver’s license and wage details to get even a rough idea of the deal you might be offered. And that process may also involve a credit check.

You can always use the website to find your nearest CrossCountry loan officer’s contact details, including phone number. But, when you call, they will likely require the same information to progress your inquiry far.

Is CrossCountry Mortgage the best lender for you?

CrossCountry might not be the best choice if you’re looking for an end-to-end digital mortgage process. But if you appreciate a personal touch, CrossCountry could be the best lender for you. Its customer service gets great reviews and the company focuses on building strong borrower-loan officer relationships.

No matter how invested you are in working with CrossCountry, be sure to get a personalized mortgage rate quote and compare it with loan estimates from a few other companies. That’s the only way to know if you’re getting the best deal on your mortgage.

Sources:

  1. Average mortgage rates and fees sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act. Rates and fees shown reflect the previous year’s data and may not align with today’s mortgage rates
  2. Monthly principal and interest payments calculated using TheMortgageReports.com mortgage calculator. Payments shown are based on a $200,000 loan amount and assume a “very good” credit score. Property taxes and homeowners insurance are not included. Your own monthly payment will vary
  3. Number of mortgage originations for the previous year sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act
  4. CFPB Complaints reflect the number of mortgage origination or closing-related complaints filed with the Consumer Financial Protection Bureau for the previous year
  5. Complaints per 1000 mortgages reflect the number of official complaints filed against a lender with the CFPB for the previous year, compared to the lender’s total number of mortgage originations for the previous year
  6. JD Power Rating reflects the company’s customer satisfaction score according to JD Power’s most recent Primary Mortgage Origination Satisfaction Study. Survey respondents score their lenders in four areas: application/approval process, communication, loan closing, and loan offerings