About
CrossCountry Mortgage is a full-service mortgage lender that provides a wide range of loan products and services to borrowers across the United States. The company was founded in 2003 and has grown to become one of the largest mortgage lenders in the country, with over 200 branches and 3,000 employees serving customers in all 50 states.
CrossCountry Mortgage offers a variety of loan products, including conventional loans, government-backed loans (such as FHA, VA, and USDA loans), jumbo loans, renovation loans, and more. The company's loan officers work closely with borrowers to help them find the best loan product for their needs and guide them through the application process.
In addition to mortgage lending, CrossCountry Mortgage also offers other services such as refinancing, home equity lines of credit (HELOCs), and reverse mortgages.
CrossCountry Mortgage is committed to providing exceptional customer service and has received numerous awards and recognition for its efforts, including being named one of the Top 100 Mortgage Companies in America by Mortgage Executive Magazine and being recognized as a Top Workplace by The Plain Dealer. The company is also accredited by the Better Business Bureau (BBB) with an A+ rating.
Key Features
Here are some key features of CrossCountry Mortgage:
- Wide range of loan products. CrossCountry Mortgage offers a variety of loan products, including conventional loans, government-backed loans, jumbo loans, renovation loans, and more. This means that borrowers have a lot of options to choose from and can find a loan product that meets their unique needs.
- Streamlined application process. CrossCountry Mortgage has a user-friendly online application process that allows borrowers to apply for a loan quickly and easily from the comfort of their own home. The company's loan officers also work closely with borrowers to guide them through the application process and answer any questions they may have.
- Exceptional customer service. CrossCountry Mortgage is committed to providing exceptional customer service and has received numerous awards and recognition for its efforts. The company's loan officers are knowledgeable and responsive, and are dedicated to helping borrowers find the best loan product for their needs.
- Competitive rates and fees. CrossCountry Mortgage offers competitive interest rates and fees, which can help borrowers save money over the life of their loan.
- National presence. CrossCountry Mortgage has over 200 branches and 3,000 employees serving customers in all 50 states. This means that borrowers can work with a local loan officer who understands the unique real estate market in their area.
- Additional services. In addition to mortgage lending, CrossCountry Mortgage also offers refinancing, home equity lines of credit (HELOCs), and reverse mortgages. This means that borrowers can turn to CrossCountry Mortgage for all their home financing needs.
Pros and Сons
Pros
- Wide range of home loan products. CrossCountry Mortgage offers a wide range of home loan products to suit the needs of different borrowers, including conventional, FHA, VA, and USDA loans.
- Online application process. CrossCountry Mortgage has a user-friendly online application process that makes it easy for borrowers to apply for a mortgage and track their progress throughout the loan process.
- Competitive interest rates. CrossCountry Mortgage offers competitive interest rates on its mortgage loans, which can help borrowers save money over the life of the loan.
- Personalized service. CrossCountry Mortgage has a team of experienced loan officers who provide personalized service and guidance to borrowers throughout the home loan process.
- Educational resources. CrossCountry Mortgage provides educational resources and tools to help borrowers learn about their home loan options and make informed decisions about their financing.
Cons
- Closing costs. CrossCountry Mortgage charges closing costs for its mortgage loans, which can add to the overall cost of the loan.
- Limited branch locations. While CrossCountry Mortgage is licensed to operate in all 50 states, it has a limited number of branch locations, which may make it difficult for some borrowers to access in-person support.
- Credit score requirements. CrossCountry Mortgage has credit score requirements for its mortgage loans, which may make it difficult for some borrowers with lower credit scores to qualify for financing.
- Limited information on website. CrossCountry Mortgage's website has limited information about its mortgage products and services, which may make it difficult for borrowers to fully understand their options.
- Third-party investors. CrossCountry Mortgage funds some of its loans through third-party investors, which may result in changes to loan terms or servicing after the loan is originated.
Overall, CrossCountry Mortgage is a reputable mortgage lender that offers a range of products and services to meet the needs of different borrowers. While there are some potential downsides to working with the company, its competitive interest rates, personalized service, and educational resources make it a strong contender for borrowers seeking mortgage financing.
Products
CrossCountry Mortgage offers a range of mortgage products to customers, including:
- Conventional Loans. These are standard mortgages that are not guaranteed or insured by the federal government. CrossCountry Mortgage offers fixed-rate and adjustable-rate conventional loans with various term lengths.
- FHA Loans. These are loans insured by the Federal Housing Administration (FHA), which allows for lower down payments and more flexible credit requirements. CrossCountry Mortgage offers FHA loans with fixed-rate and adjustable-rate options.
- VA Loans. These are loans guaranteed by the Department of Veterans Affairs (VA) and are available to active-duty military members, veterans, and their families. CrossCountry Mortgage offers VA loans with fixed-rate and adjustable-rate options.
- USDA Loans. These are loans guaranteed by the U.S. Department of Agriculture (USDA) and are available to borrowers in eligible rural areas. CrossCountry Mortgage offers USDA loans with fixed-rate and adjustable-rate options.
- Jumbo Loans. These are loans that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. CrossCountry Mortgage offers jumbo loans with fixed-rate and adjustable-rate options.
- Reverse Mortgages. These are loans that allow homeowners aged 62 and older to convert part of their home equity into cash without having to sell their homes or make monthly mortgage payments. CrossCountry Mortgage offers reverse mortgages through the Home Equity Conversion Mortgage (HECM) program.
- Renovation Loans. These are loans that allow borrowers to finance the cost of home improvements into their mortgage. CrossCountry Mortgage offers FHA 203(k) renovation loans and Fannie Mae HomeStyle renovation loans.
- Home Equity Line of Credit (HELOC). A HELOC is a type of loan that allows homeowners to access the equity they have built up in their home as a line of credit, which can be used for various purposes such as home improvements, debt consolidation, or other expenses.
In addition to these mortgage products, CrossCountry Mortgage also offers refinancing options and second mortgages.
Reliability
CrossCountry Mortgage has a strong reputation for reliability in the mortgage industry. The company has been in business for over 18 years and is licensed to operate in all 50 states, which demonstrates its commitment to providing reliable service to customers across the United States.
CrossCountry Mortgage has also received high ratings and positive reviews from customers and industry organizations. For example, the company has an A+ rating from the Better Business Bureau, and has been recognized as one of the Top Mortgage Lenders by Mortgage Executive Magazine.
In addition, CrossCountry Mortgage has a team of experienced and knowledgeable loan officers who provide personalized service and guidance to customers throughout the mortgage process. This helps to ensure that customers receive reliable and accurate information about their options and the steps involved in obtaining a mortgage.
Overall, CrossCountry Mortgage's long-standing presence in the industry, positive ratings and reviews, and personalized service make it a reliable option for customers seeking mortgage financing.
Funding a Loan
CrossCountry Mortgage funds loans through a combination of its own resources and third-party investors.
The company uses its own capital to fund some loans, while other loans are sold to investors on the secondary market. This allows CrossCountry Mortgage to provide a broad range of mortgage products and services, while also managing its risk exposure and maintaining financial stability.
When a customer applies for a mortgage through CrossCountry Mortgage, the loan is underwritten and approved by the company's underwriting team. Once the loan is approved, it is typically funded within a few days to a few weeks, depending on the complexity of the loan and other factors.
CrossCountry Mortgage also offers a variety of options for making mortgage payments, including online payments, automatic payments, and payments by mail. Customers can choose the option that works best for them, and the company provides assistance and support to help ensure that payments are made on time and in accordance with the terms of the loan.
Overall, CrossCountry Mortgage's funding process is designed to be efficient, transparent, and flexible, in order to provide customers with the best possible experience when obtaining a mortgage.
Additional Services
In addition to its primary mortgage lending services, CrossCountry Mortgage offers several additional services to its customers. These services include:
- Refinancing. CrossCountry Mortgage offers refinancing options to help customers lower their monthly payments, reduce their interest rate, or access equity in their homes.
- Home equity loans and lines of credit. As mentioned earlier, CrossCountry Mortgage offers home equity loans and lines of credit, which allow customers to tap into the equity they have built up in their homes.
- Reverse mortgages. CrossCountry Mortgage offers reverse mortgages, which are designed for homeowners who are at least 62 years old and want to access the equity in their homes without having to sell or move.
- Debt consolidation. CrossCountry Mortgage offers debt consolidation loans to help customers consolidate high-interest debt into a single, more manageable payment.
- Home insurance. CrossCountry Mortgage partners with insurance providers to offer customers home insurance options to protect their investment in their home.
- Educational resources. CrossCountry Mortgage provides educational resources and tools to help customers learn about their mortgage options and make informed decisions about their financing.
Overall, CrossCountry Mortgage's additional services are designed to provide customers with a range of options to meet their financial needs and goals, whether they are looking to refinance, tap into their home equity, consolidate debt, or protect their investment in their home.
Terms and conditions
The specific terms and conditions for mortgages offered by CrossCountry Mortgage may vary depending on factors such as the type of mortgage, the borrower's creditworthiness, and the property being financed. However, some general terms and conditions that may apply to CrossCountry Mortgage loans include:
- Interest rates. CrossCountry Mortgage offers fixed-rate and adjustable-rate mortgages with interest rates that are based on market conditions and other factors. The specific interest rate offered will depend on the borrower's credit score, down payment, and other factors.
- Loan terms. CrossCountry Mortgage offers a range of loan terms, including 10-year, 15-year, 20-year, 30-year, and 40-year terms. The specific loan term offered will depend on the borrower's financial situation and the type of mortgage being applied for.
- Closing costs. CrossCountry Mortgage charges closing costs for its mortgage loans, which may include fees such as appraisal fees, title insurance fees, and loan origination fees. The specific closing costs charged will depend on the type of loan and other factors.
- Prepayment penalties. CrossCountry Mortgage does not charge prepayment penalties on its mortgage loans. Borrowers are free to make extra payments or pay off their loan early without incurring additional fees.
- Late payment fees. CrossCountry Mortgage may charge late payment fees if borrowers fail to make their mortgage payments on time. The specific late payment fees charged will depend on the terms of the loan.
It's important to note that the terms and conditions for CrossCountry Mortgage loans may vary based on individual circumstances and location, and borrowers should carefully review the loan documents and disclosures provided by the company before agreeing to the terms of a mortgage.
CrossCountry Mortgage vs AmeriHome Mortgage
Both CrossCountry Mortgage and AmeriHome Mortgage are mortgage lenders that offer a range of loan products to help borrowers finance their home purchases or refinance their existing mortgages. Here are some key differences between the two lenders:
- Loan products. CrossCountry Mortgage offers a wide range of loan products, including conventional, FHA, VA, and USDA loans, as well as home equity loans and lines of credit. AmeriHome Mortgage primarily offers conventional and government-backed loans, such as FHA and VA loans, but does not offer home equity loans or lines of credit.
- Online presence. Both CrossCountry Mortgage and AmeriHome Mortgage have user-friendly websites that allow borrowers to learn about their loan options, apply for a loan, and track their loan progress. However, CrossCountry Mortgage has a more robust online presence, with a mobile app that allows borrowers to manage their loan from their smartphone.
- Interest rates. Both CrossCountry Mortgage and AmeriHome Mortgage offer competitive interest rates on their mortgage loans. However, the specific rates offered may vary based on the borrower's credit score, down payment, and other factors.
- Customer service. Both CrossCountry Mortgage and AmeriHome Mortgage have experienced loan officers who provide personalized service and guidance to borrowers throughout the mortgage process. However, CrossCountry Mortgage has a larger team of loan officers and a reputation for providing exceptional customer service.
- Branch locations. CrossCountry Mortgage has a larger network of branch locations than AmeriHome Mortgage, with offices in all 50 states. This may make it easier for borrowers to access in-person support if needed.
Ultimately, the choice between CrossCountry Mortgage and AmeriHome Mortgage will depend on the specific needs and preferences of the borrower. Both lenders have their strengths and weaknesses, and borrowers should carefully consider factors such as loan products, interest rates, customer service, and branch locations before choosing a lender.
CrossCountry Mortgage vs RMF
CrossCountry Mortgage and RMF (Reverse Mortgage Funding) are both mortgage lenders, but they differ in several ways. Here are some key differences between the two lenders:
- Loan products. CrossCountry Mortgage offers a wide range of loan products, including conventional, FHA, VA, and USDA loans, as well as home equity loans and lines of credit. RMF specializes in reverse mortgages, which allow older homeowners to convert a portion of their home equity into cash.
- Online presence. Both CrossCountry Mortgage and RMF have user-friendly websites that allow borrowers to learn about their loan options, apply for a loan, and track their loan progress. However, CrossCountry Mortgage has a more robust online presence, with a mobile app that allows borrowers to manage their loan from their smartphone.
- Interest rates. Both CrossCountry Mortgage and RMF offer competitive interest rates on their mortgage loans. However, the specific rates offered may vary based on the borrower's credit score, down payment, and other factors.
- Customer service. Both CrossCountry Mortgage and RMF have experienced loan officers who provide personalized service and guidance to borrowers throughout the mortgage process. However, RMF specializes in reverse mortgages and may have more expertise in this area.
- Branch locations. CrossCountry Mortgage has a larger network of branch locations than RMF, with offices in all 50 states. RMF has physical branch locations in several states, but may not have as much of a presence in all areas.
Ultimately, the choice between CrossCountry Mortgage and RMF will depend on the specific needs and goals of the borrower. If the borrower is interested in a reverse mortgage, RMF may be a better option. However, if the borrower is looking for a traditional mortgage loan with a wide range of loan products and exceptional customer service, CrossCountry Mortgage may be a better fit.
CrossCountry Mortgage vs Movement Mortgage
CrossCountry Mortgage and Movement Mortgage are both mortgage lenders, but they differ in several ways. Here are some key differences between the two lenders:
- Loan products. CrossCountry Mortgage offers a wide range of loan products, including conventional, FHA, VA, and USDA loans, as well as home equity loans and lines of credit. Movement Mortgage also offers a variety of loan products, including traditional mortgage loans, renovation loans, and government-backed loans.
- Online presence. Both CrossCountry Mortgage and Movement Mortgage have user-friendly websites that allow borrowers to learn about their loan options, apply for a loan, and track their loan progress. However, CrossCountry Mortgage has a more robust online presence, with a mobile app that allows borrowers to manage their loan from their smartphone.
- Interest rates. Both CrossCountry Mortgage and Movement Mortgage offer competitive interest rates on their mortgage loans. However, the specific rates offered may vary based on the borrower's credit score, down payment, and other factors.
- Customer service. Both CrossCountry Mortgage and Movement Mortgage have experienced loan officers who provide personalized service and guidance to borrowers throughout the mortgage process. However, Movement Mortgage has a strong reputation for exceptional customer service and has been recognized with multiple industry awards.
- Branch locations. CrossCountry Mortgage has a larger network of branch locations than Movement Mortgage, with offices in all 50 states. Movement Mortgage has physical branch locations in several states, but may not have as much of a presence in all areas.
Ultimately, the choice between CrossCountry Mortgage and Movement Mortgage will depend on the specific needs and goals of the borrower. If the borrower is looking for a traditional mortgage loan with a wide range of loan products and a strong online presence, CrossCountry Mortgage may be a better fit. However, if the borrower places a high priority on exceptional customer service, Movement Mortgage may be a better option.
