CrossCountry Mortgage review 2025: Down payment grants and diverse loan options

CrossCountry Mortgage is a nationwide lender with numerous options for first-time homebuyers, including government-backed FHA, USDA and VA loans, manufactured home financing and generous down payment assistance grants.

We like that buyers with poor credit can be approved for non-qualifying mortgages and that CrossCountry Mortgage accepts nontraditional credit sources for some loans, including on-time rent and utility payments.

The lender is highly rated for customer satisfaction and its fast-track approval process means you might be able to close on your home in as little as 10 days.

CrossCountry Mortgage offers conventional, jumbo, FHA, USDA, VA and Fannie Mae and Freddie Mac loansin all 50 states, Washington, D.C and Puerto Rico.

• Fixed-rate: Borrowers keep the same rate for the lifetime of their loan. CrossCountry offers fixed-rate terms between 10 and 40 years. 
• Adjustable-rate: Adjustable-rate mortgages (ARMs) start with a fixed rate for a set period and then adjust at regular intervals. Cross Country offers ARMS that start with a fixed rate for the first three, five, seven or ten years.
• FHA loans: Backed by the Federal Housing Administration (FHA), FHA loans only require a 3.5% down payment for borrowers with a 580 FICO score or 10% down for borrowers with a 500.
• VA loans: Veterans and service members can apply for this lower-rate mortgage without a down payment or private mortgage insurance.
• Jumbo loans: A jumbo loan exceeds the conforming limits set by the Federal Housing Finance Agency. CrossCountry issues jumbo loans for up to $5 million.
• HomeReady and Home Possible: Backed by Fannie Mae and Freddie Mac, this mortgage requires just 3% down and has lower financing and PMI costs. You should earn 80% of the area median income, have a credit score of 620 and a debt-to-income ratio of 50%.
• HomeOne: Backed by Freddie Mac, this fixed-rate mortgage for first-time homebuyers requires only 3% down and has no income or geographic requirements.
• Reverse mortgages: Allows you to access cash using your home as collateral. Borrowers don't have to make payments on reverse mortgages while living in the house. 
• Renovation loans: Approval for renovation loans is based on a home's estimated value after any upgrades are completed.
• Manufactured home loans: Unlike many competitors, CrossCountry Mortgage approves financing for manufactured homes and mobile homes.
• Non-qualifying mortgage: Non-QM loans are available to homebuyers who can't meet typical credit and income requirements, but have higher rates and require a larger down payment.

• Minimum credit score: 620 for conventional loans, 500 for FHA loans, USDA loans and VA loans and 660 for jumbo loans. CrossCountry also accepts alternative forms of credit for certain mortgages.
• Minimum down payment: 3% for conventional loans, 10% for jumbo loans, 3.5% for FHA loans, 0% for USDA loans, 0% for VA loans
• Debt-to-income ratio (DTI): CrossCountry typically requires a DTI of 50% or less. It can exceed this with certain products. 

• Origination fee: CrossCountry Mortgage does not disclose its origination fee, but they typically run about 1% of your total loan amount. 
• Prepayment penalty: CrossCountry does not charge a fee for paying off all or part of your home loan before the term ends. 
• Rate lock fees: CrossCountry does not charge a rate lock fee.

CrossCountry Mortgage offers a variety of unique programs for homebuyers. 

CCM Community Promise

First-time homebuyers in 15 major cities — including Miami, New York and Chicago — may be eligible for up to $6,500 toward a down payment or closing costs. There is no income requirement but borrowers may need to enroll in a homeownership education course

CCM Smart Start

First-time homebuyers who meet income requirements can qualify for a down payment grant of up to 2% of their home cost, up to $5,250.

CCM Equity Express

Homeowners can get a home equity line of credit (HELOC) for up to 85% of their home value in as little as five days.

FastTrack Credit Approval

With this accelerated approval process, CrossCountry Mortgage's underwriter will approve your credit before you shop for your home, allowing you to close in as little as 10 days of signing your purchase contract.

Freddie Mac's BorrowSmart

First-time homebuyers making up to 140% of the area median income (AMI) can qualify for a $4,000 grant for closing costs or a down payment.

Temporary buydown options

Typically paid for by the lender or seller to incentivize a buyer, a temporary rate buydown lowers your mortgage rate for a set period. It then increases annually until it returns to its original level. 

CrossCountry offers a variety of buydowns, including a 3-2-1 buydown, which drops the rate 3% in the first year, 2% in the second year and 1% in the third year, before returning to the original mortgage rate in the fourth year. Other options include 2-1, 1-1 and 1-0 buydowns.

CrossCountry Mortgage offers cash-out and rate-and-term refinancing in all 50 U.S. states and , Washington, D.C. and Puerto Rico. It also provides HELOCs but does not offer home equity loans.

• Credit score: Not disclosed
• Debt-to-income ratio: CrossCountry Mortgage prefers a DTI ratio of no more than 50%.
• Home equity: Not disclosed
• Home appraisal: Not disclosed

J.D. Power rated CrossCountry Mortgage above average in customer satisfaction for mortgage origination and servicing. The lender received an A+ rating from the Better Business Bureau, which bases ratings on corporate transparency, truthful advertising, response to consumer complaints and other factors.

CrossCountry Mortgage does not list sample or customized rates online and lacks an online chat feature, which many competitors have. You can't get preapproved online either, but you can submit a mortgage application through the CrossCountry Mortgage website.

Here's how CrossCountry Mortgage stacks up to two leading mortgage providers.

CrossCountry Mortgage vs. Guild Mortgage

Guild and CrossCountry Mortgage both lend in all 50 states and have hundreds of branches nationwide. The two lenders accept alternative credit for some loans and offer government-backed VA, FHA and USDA mortages.

However, while both issue HELOCs, only Guild has home equity loans.

It's not clear how they match up on rates, as Guild's are not publicly advertised. It does not typically charge homebuyers an origination fee, though, which can equal between 0.5% and 1% of your total loan amount.

CrossCountry Mortgage was rated above average for mortgage originiation and servicing by J.D. Power, while Guild landed well below-average for mortgage origination.

Where Guild really shines is in its online footprint: Borrowers can get preapproval and apply on the easy-to-use website, which has comprehensive information about a wide range of loan options .

In contrast, it can be difficult to find information about loan options on the CrossCountry Mortgage website and you must speak with a loan agent by phone to apply or do so in person at a local branch.

CrossCountry Mortgage vs. Rocket Mortgage

If you like the comfort of borrowing from home, Rocket Mortgage is the superior choice: You can get current rates, apply and even close remotely (where available). It also has an online chat feature and the customer service phone line is available seven days a week.

Rocket is an online-only institution, however, so if you want to work with a loan agent in person, CrossCountry is the way to go. It has over 700 branches nationwide.

CrossCountry Mortgage earned respectable rankings for customer satisfaction from J.D. Power, but Rocket ranked No. 1 for mortgage servicing and No. 2 for mortgage origination.

But CrossCountry Mortgage comes out ahead with down payment assistance, with more grant options and wider availability than Rocket.

You can apply for a home loan with CrossCountry Mortgage online, by phone at 877-351-3400 or at one of 700 branches nationwide.

On the lender's website, you'll need to create an account and provide basic details, including your ZIP code, phone number and email address.

A loan agent will call to guide you through the remainder of the application process and help you upload the required financial documents, including pay stubs, bank statements and tax returns.

CrossCountry Mortgage is a good lender for first-time homebuyers, with a variety of grants and programs offering assistance with a down payment nd closing costs. Since it offers non-qualifying mortgages, it's also an option if you need more flexibility with credit, income or debt-to-income requirements.

If you prefer an online lending experience, however, or want to know fees and rates without having to submit an application, you may want to keep shopping for another mortgage provider.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

CNBC Select reviews mortgage products using a variety of criteria, including the types of loans offered, average rates, terms, availability, fees, down payment options, online options and customer satisfaction. 

In addition, we incorporate findings from independent sources, including lender scores from the J.D. Power U.S. Mortgage Origination Satisfaction Study and ratings from the Better Business Bureau.

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