Requirements
Generally, to qualify for CrossCountry Mortgage services, clientele should have a minimum credit score of 620, at least two years’ experience operating in business, proper debt-to-income and the loan-to-value ratio and all required documents.
Application details
A customer should attach to the application such income documents as stubs, W-2 Forms, federal tax returns for the most recent two pay periods and a copy of the driver’s license or State I.D.card.
- If the clientele is self-employed, the two most recent years’ 1099’s, K-1 forms, year-to-date profit, loss statement and balance sheet will also be required.
- Retired customers have to provide a copy of Social Security or Pension “award letters” with the amount of retirement income.
- As for the asset documents, two most recent months’ bank statements are required.
- For some types of mortgages, clientele may need to attach homeowner’s insurance and mortgage statements for all properties owned.
- Divorced customers should also provide a fully executed divorce decree.
Applications are considered within three business days. The reasons for rejection commonly include incongruity of clienteles’ credit score, LTV or DTI ratio and documents to the requirements.
How to apply for a loan
- Click the Apply button.
- Fill out a questionnaire to proceed to the prequalification process and get in touch with a loan officer.
- Select the Apply Now button, enter information about the loan type and click Next.
- Provide personal contact information and estimated credit score and select Submit.
- After that, clientele have to wait when a CrossCountry loan officer will get connected with them to accomplish an application.
