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CrossCountry Mortgage Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
29 Customer Comments & Reviews - see all comments
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Founded in 2003, CrossCountry Mortgage is an Ohio-based nationwide mortgage lender offering a wide range of purchase and refinance loans.

Since its inception, the company has expanded its area of coverage and is now licensed in 50 states, with over 130 branches from coast to coast.

The company boasts an A+ rating with the Better Business Bureau (BBB), with mostly positive comments on its profile highlighting the company’s customer service and smooth underwriting process.

How is CrossCountry Mortgage rated?

Breakdown

4.0/5
Lender Types
5.0/5
Available Mortgage Types
4.5/5
Customer Experience
4.3/5
Reputation & Transparency

Overall Rating: 4.4 / 5 (Excellent)

CrossCountry Mortgage is a leading online lender offering an ample selection of purchase and refinancing loans as well as helpful resources for first-time homebuyers.

The company’s website is easy to navigate, and its online forms are a breeze to complete, yet CrossCountry mortgage’s services are geared towards borrowers who want to start their loan application online and then work with a loan officer that will guide them throughout the rest of the process.

Although there are few online reviews for this company, everything indicates that CrossCountry meets all the requirements to be considered a top-tier lender.

Any prospective borrower, even those simply looking to compare rates, is sure to find CrossCountry an option worth considering. Because the company’s website is designed with consumer experience in mind, the company is ideal for first-time home buyers who are looking for an excellent source of information regarding the home warranty purchasing process, and who might benefit from working with a professional instead of carrying out the whole process online.

CrossCountry Mortgage Loan Specifics

Available Mortgage Types - 5 / 5

CrossCountry Mortgage is now a full-service lender offering a vast array of mortgage loans including conventional fixed and adjustable-rate mortgages as well as jumbo, FHA, VA, and USDA loans.

The company offers serval types of Adjustable Rate Mortgages (ARMs), which mainly differ by the length of the period in which your rates will be fixed and how often your interest rate can change after that fixed period ends.

The most common are 3/1, 5/1, 7/1 and 10/1 ARMs, with the first number representing the years your interest rate will be fixed and the second number representing how often the interest rate can change after that fixed period. An ARM might be the ideal mortgage type for you, but in order to determine that, you should consider its pros and cons. ARMs offer consumers the possibility of a lower initial interest rate than they would get with a fixed rate mortgage, there’s also the chance that the rate and monthly payments might decrease, depending on the market rates.

You can also set a limit on rate increases. Regarding cons, because an ARM is “adjustable” and is affected by market rates, there’s a chance you could end up paying more after the introductory period ends if your interest rate increases. It’s even possible for the interest to be higher than it would be on a fixed-interest loan.

The company’s fixed-rate mortgages, on the other hand, are ideal for those consumers who are looking for consistency. Because fixed-rate mortgages function with the same interest rate throughout the mortgage’s whole lifespan, consumers don’t have to worry about surprise increments on their monthly payments, which also makes it easier for consumers to plan out their budgets. Consumers also have the option to refinance their fixed-rate mortgages if the market rates were to go lower than your fixed interest rate in order to lower their monthly payments. CrossCountry offers fixed-rate mortgages with term lengths between 10 years and 30 years. Although these types of mortgages usually come with an initial interest rate that’s higher than an ARM rate, fixed-rate mortgages might be perfect for you if you’re looking for consistency, predictability, and you’re OK with higher initial payments.

CrossCountry Mortgage’s non-conforming or jumbo loans allow applicants to borrow up to $3 million, yet there doesn't seem to be a minimum loan requirement. Jumbo loans can also be fixed rate mortgages or adjustable rate mortgages and can vary in their term length, which means these loans can also be customized to better fit each consumer’s specific needs.

The company also offers VA loans, which are backed by the U.S. Department of Veterans Affairs. These loans offer benefits to qualifying veterans including competitive interest rates, no down payments, refinance programs, limits on closing costs, no penalty fee if you pay off the loan early, no appraisal required on some of the company’s refinance loans, and up to 100% financing with no mortgage insurance.

CrossCountry also offers a three-step pre-qualification process, which entails speaking with a loan officer to determine different loan options the applicant may qualify for.

Types of Mortgage Loans Offered

  • Fixed Rate 10 Year
  • Fixed Rate 15 Year
  • Fixed Rate 20 Year
  • Fixed Rate 30 Year
  • 3/1 ARM
  • 5/1 ARM
  • 7/1 ARM
  • Jumbo Fixed Rate
  • VA Fixed Rate
  • FHA Fixed Rate
  • USDA Loan

CrossCountry Mortgage Customer Experience

Customer Experience - 4.5 / 5

CrossCountry has a FastTrack Credit Approval program that allows qualified borrowers to close their mortgage in as little as 21 days.

The company also offer a hassle-free pre-approval and quick online quotes, which don't require personally identifiable details such as the applicants Social Security number.

One of the best things about CrossCountry however, is the wealth of excellent resources the company offers prospective borrowers on its website, including articles, videos, calculators, frequently asked questions, and even a glossary of commonly used terms. The company also provides a home buying guide with detailed step by step instructions on how to buy your first home. The guide covers prequalifying, understanding your credit report, meeting your licensed loan originator, estimating your expenses, getting pre-approved, finding the right realtor, house hunting, starting the loan process (and what documentation and information you will need to provide), making an offer, getting a home appraisal, and setting a closing date, time and location. Two other great resources on CrossCountry mortgage’s website are a guide for understanding down payments and a guide for understanding tax advantages.

Well-informed consumers and aspiring homeowners are sure to appreciate this company's customer-centered approach.

Online Features

Online Application
Yes
Online Quote
Yes
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Help Articles
Videos
SSN Required for Quote
No

Loan Closing Time

21 days

CrossCountry Mortgage Qualification Requirements

Qualification Requirements - 4.5 / 5

Like most lenders, CrossCountry offers few details about its borrower qualification requirements.

Nevertheless, it should be safe to assume the company has minimum credit and income requirements, in addition to standard qualifications like being at least 18 years of age and a U.S. citizen.

The company does state it doesn’t have any debt-to-income ratio restrictions for FHA loans and minimum down payments through these programs can be as low as 3.5%.

Key Requirements at a Glance

Minimum Down Payment
3.5%

CrossCountry Mortgage Lender Reputation

Reputation & Transparency - 4.3 / 5

Since 2003, CrossCountry Mortgage has been a direct lender of conventional loans that meet the underwriting guidelines of government-sponsored entities Fannie Mae, Freddie Mac, and Ginnie Mae.

The company is accredited by the Better Business Bureau and has an A+ rating with the organization. It’s important to note that this score is not based on customer feedback. That being said, the majority of the comments and reviews on the company’s BBB profile are positive, with most consumers highlighting the company’s customer service and the ease of the underwriting process.

There are few consumer complaints against CrossCountry on the CFPB's database and, according to the NMLS, there has been less than a handful of regulatory actions taken against them.

If you want to know more about the best mortgage rates you can find, read our review of the Best Mortgage Rates of 2018.

Key Facts

Lender Type
Direct Lender
Year Founded
2003
BBB Rating
A+
Trustpilot Rating
1.9 out of 5
Collection Date
2018-02-06

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
3029
The Nationwide Mortgage Regulatory Actions
3
Consumer Financial Protection Bureau Complaints
43

Company Profile

Full Name
CrossCountry Mortgage
Company Website
Headquarters
6850 Miller Road, Brecksville, OH, 44141

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29 Customer Comments & Reviews

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leannlong888
6/25/2021
Spoke with two different agents. Both sounded like used car salesmen, extremely high-pressure. When I asked any kind of question, for example, a break-out of the number they had just given, instead of answering the question, they gave a long-winded spiel about how many good things they were going to do for me. Another thing they would do instead of answering a question was say, "but how do you feel about saving $x? I need to hear more excitement!" Seriously?!!!


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AEL
4/26/2021
I have emails and texts to back up everything I state here. I should have known when the loan officer started off like a used car salesman telling me if I went with him today he would give me a considerably lower rate than anyone else had originally quoted, including himself. I have almost perfect credit (over 800) and no debt at all. Nothing seemed to be progressing after the first week even though I had submitted everything they asked for on the same day each time they asked for it. When I asked for a status update, I was told they "could not live and die on this account every hour of the day, one day is not going to delay anything." After demanding the status I was told my file... Read More


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Veernag P
4/14/2021
On Dec 1, 2020 we spoke to Julia Engman, from CrossCounrty Mortgage. We wanted to re-finance our home and take some cash out. I explained our situation; new company, husband and wife as employees, etc. I had already been turned down for these very reasons by another lender. Julie led me through the process of document submission, various scenarios for points and interest, and answered all my questions. After ensuring that we were locked in to the lowest rate possible, she passed us on to Matthew Lang. Matthew gave us updates on the closing process, answered all our questions, and notified us via email of any needed documents to speed-up the closing process. On Feb 20, 2021 an... Read More


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Vicky E
3/31/2021
Lengthy but worth the read. Sounds like other reviews I see here. We went binding with sellers to purchase a home on December 16, 2020 using this company. USDA product. It is now March 18, 2021 and this loan has not closed. An error was made by the loan agent of Cross Country Mortgage in Newnan, Georgia. After 2 months of all parties being told there was an issue with a USDA backlog, when in fact the loan agent made an error that was the cause for the delay, she told no one until it was uncovered it in early March 3 months later! She was forced to admit it only after a call was made to an agent with USDA where it was discovered that my name had never appeared in the USDA process system. My... Read More


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Alex B
1/18/2021
Michael Massimi, the mortgage broker working for CrossCountry Mortgage, has lied to us. Instead of doing the competent work, he assured us the we would get a loan and we proceeded with a contract to buy a house. We spent $650 on home inspection, $1000 on attorney, $350 on oil tank inspection and $600 on house appraisal only to learn that in the end the CrossCountry has rejected us. Before we learned about that, we also went ahead and cancelled our apartment lease and started packing. Since the loan origination was delayed by one month, the seller pushed us to pay $250 per day in delay fees. Of course, Michael Massimi has disappeared and couldn't get in touch for comment. We've lost a house... Read More


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Pete N
11/18/2020
I WOULD CAUTION YOU ABOUT GOING WITH THIS LENDER! They are unprofessional at best. Here is why I say this: I initially was speaking to one individual and we discussed what he would need as far as documentation for a refinance. All was well until a second individual, 3 days later, sent me an e-mail and began telling me he needs 2 months of my bank statements, etc. I had already linked my bank account to these people and the first individual was well aware of that, evidently the second was not. As the day continued the second individual also told me to send him my W-2 over e-mail. I told him I was not going to do that because e-mail is notoriously unsecure. He told me to use Docusign,... Read More


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Maxine M
10/10/2020
I am experiencing the same poor quality of closing difficulties with this company. I wish I had come here to read these comments before I had gone into a contract with them. They are incompetent and liars. Now I feel as if I should just back out. I have been doing a refi with them since August of 2020 it is now October and we still cannot close. Not good.


lonnieross48
10/7/2020
Very responsive and helpful. Excellent team to work with. We wouldn’t hesitate to use their services against.


iamlivingthenow
10/6/2020
Horrible service, after I completed the application and spoke to Charles Elswick on the phone, he mentioned he would get back to me. He never did. Charles didn't have the courtesy of calling/emailing me back at all. I email and called him several times but no response. No one in CrossCountry Mortgage was able to assist me as he was the lender I originated the application.


Brittany H
7/14/2020
DO NOT USE THIS COMPANY!!! CrossCountry Mortgage completely ruined my first home buying experience. On the day of our closing (July 10th), which was after our original deadline, CrossCountry had not given any of the closing documents to the title company. We ended up having to wait in the lobby of the title company for FOUR hours while our movers sat outside our new house, getting paid by the hour. When CrossCountry finally got the documents to the title company, it was almost 5 pm and the number on the closing disclosure was higher than one the disclosure we received three days prior. We had no time to really ask questions or anything because we had been put in a position where if we did... Read More