CrossCountry Mortgage Review for 2021

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.

Lending flexibility 4.5
Customer service 4.5
Ease of application 2.5
Online experience 4.5
Minimum down payment 3%
Minimum credit score 580
Loan Products Offered

Fixed-rate mortgage
Adjustable-rate mortgage
Jumbo mortgage
FHA mortgage
VA mortgage
USDA mortgage
FHA 203k loans

Best Features

  • Encourages strong relationships between borrowers and loan officers
  • 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 43

Drawbacks

  • May not always provide the lowest mortgage rates
  • Must provide personal information to get a mortgage rate quote

Overview

Founded in 2003, CrossCountry is one of several companies that have entered the mortgage market in the 21st century.

However, unlike many of those, CrossCountry is not wholly driven by technology. It is rapidly building a branch network, and aims to help borrowers build strong relationships with loan officers. Branches in 43 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 mortgage rate CrossCountry can offer, you’ll have to chat with a loan officer and get a custom quote.

However, recent data show that CrossCountry’s mortgage rates and 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 mortgage rates at major lenders

  CrossCountry Rocket Mortgage Wells Fargo Freedom Mortgage
Average 30-Year Interest Rate, 20201 3.17% 3.20% 3.62% 2.92%
Median Total Loan Costs, 2020 $4,520 $4,610 $3,370 $3,340
Median Origination Fee, 2020 $1,590 $2,950 $1,280 $0

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

Compare mortgage rates from top lenders. Start here (Sep 20th, 2021)

CrossCountry Mortgage review for 2021

On its website, CrossCountry says:

“We pride ourselves on developing rewarding, long-term customer relationships. Our customers save money and close their loans quickly because we use advanced mortgage technology and communicate closely with them throughout the financing process.”

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.

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

And it’s hard to get a feel for its “back-office functionality” (the things its IT systems can do that you don’t see) before you make an application.

However, if CrossCountry’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.

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 those 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 2020, only 32 customers filed for issues with CrossCountry mortgage. That’s less than 1 per 100 borrowers.

In addition, CrossCountry earns an average review score of 4.84 out of 5 across a variety of review platforms.

Customer service reviews at major lenders

  CFPB Complaints, 20204 Complaints per 100 Mortgages, 20205 J.D. Power Satisfaction Score, 20206
CrossCountry 32 0.02 Not Rated
Rocket Mortgage 391 0.03 883/1,000
Wells Fargo 554 0.05 840/1,000
Freedom Mortgage 288 0.04 817/1,000

Mortgage loan products at CrossCountry

One of CrossCountry’s strengths is the breadth of its loan portfolio. 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 or home equity line of credit (HELOC).

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

  • 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
  • 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 percent down and easy credit thresholds. But you’ll pay mortgage insurance until you move or refinance
  • Jumbo loans — Jumbo loans are for mortgage amounts larger than the conventional limit, which is currently $548,250 in most of the U.S. CrossCountry lets you borrow up to $3 million

CrossCountry may also be able to help if you want to borrow on 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.

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 active branches across 43 states, according to NMLS Consumer Access. These include:

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

If your state has no branches — or your local branch is far from home — your starting point will probably be CrossCountry’s website. 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,  he or she will likely require the same information to progress your inquiry far.

Is CrossCountry Mortgage the best lender for you?

If you appreciate a personal touch, CrossCountry might be the best mortgage lender for you. Its customer service gets great reviews, and the company focuses on building strong borrower-loan officer relationships.

CrossCountry might not be the best choice if you’re looking for an end-to-end digital mortgage process.

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.

Verify your new rate (Sep 20th, 2021)

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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