CrossCountry Mortgage Reviews Inc, Loan Companies, LLC Complaints

CrossCountry Mortgage Reviews Inc, Loan Companies, LLC Complaints 2023

CrossCountry Mortgage is a good company by industry standards. It gets very few official complaints, has an A+ rating with the Better Business Bureau, and hasn’t had any major issues or scandals with borrowers according to NMLS.

I highly recommend CrossCountry mortgage if you’re looking for great value and personalized service! Corey was very helpful and efficient in making our home buying process as easy as possible. He went above and beyond in making sure all decisions were in our best interest. No games or high-pressure sales tactics.

Visit CrossCountry Mortgage, LLC’s profile on Zillow to read customer ratings and reviews. Find great Brecksville, OH mortgage lending professionals on Zillow …

Pros and cons

Pros

Can close most loans in as little as 21 days
Extensive range of available loan types, including HELOCs
Dedicated loan officer throughout the process

Cons

Doesn’t offer online process for approval; you have to speak to a loan officer
Doesn’t publish lender fees or in-depth borrower requirements

CrossCountry Mortgage overview

CrossCountry Mortgage, also doing business as Best Rate USA, is a full-service nationwide lender featuring an extensive range of loan products and offering quick closing times to borrowers. Founded in 2003, CrossCountry is headquartered in Brecksville, Ohio. The company began as a solo venture by Ronald J. Leonhardt Jr., who now serves as president and CEO.

Loan types

Conventional
VA
FHA
USDA
Fixed-rate
Adjustable-rate mortgage (ARM)
Jumbo
Rate-and-term refinancing
Cash-out refinancing
FHA cash-out
FHA streamline
VA streamline (IRRRL)
USDA streamline
Home equity lines of credit (HELOCs)
Reverse mortgages
203(k) loans

Lender fees

CrossCountry Mortgage does not provide lender fee information on its website, but keep in mind most lenders charge origination and application fees.

CrossCountry Mortgage offers a number of programs that can lower your obligation at closing, including FHA, USDA and VA loans. These government-backed loans may allow you to wrap closing costs into your overall monthly payment. They also sometimes provide the option for the seller to contribute to costs at closing.

Minimum borrower requirements

CrossCountry Mortgage requires sufficient income and credit history to qualify for a conventional loan. According to Fannie Mae’s guidelines, that means you’ll need a credit score of 620 or higher and a down payment of at least 3 percent. You’ll also need a debt-to-income ratio (DTI) of 43 percent or less.

You can finance up to $5 million with a jumbo loan from CrossCountry Mortgage. Jumbo loans often require a credit score of at least 660 and a low DTI.

For an FHA loan, the lender requires a down payment of at least 3.5 percent and a debt-to-income (DTI) ratio of 30 percent or less. Borrowers must also have at least two consecutive years of employment and verifiable income.

CrossCountry Mortgage follows government guidelines for VA and USDA loans. VA loans generally require a minimum credit score of 620 and a low DTI. There are no credit requirements for USDA loans, but borrowers need to meet income requirements and be located in an eligible rural area.

Today we’ll do an in-depth review of CrossCountry Mortgage, which as the name implies, is a nationally-licensed mortgage lender that offers its home loan services in all 50 states and the District of Columbia.

Given their name, it’s a good thing they do. The consumer direct mortgage lender is based out of Brecksville, Ohio and has been around since 2003.

Perhaps their biggest claim to fame is the fact that they are the main lender partner of Costco Mortgage. So if you’re a Costco customer, you may come across them.

CrossCountry Mortgage Fast Facts

Founded in 2003 by CEO Ronald J. Leonhardt, Jr
Headquarters in Brecksville, Ohio
Nationally licensed direct lender in all 50 states
Nearly 3,000 employees at over 200 branches
Fannie Mae, Freddie Mac, and Ginnie Mae Approved Seller/Servicer since 2012
Owns a loan servicing portfolio worth $2.387 billion+
The main mortgage lender partner for Costco

Interestingly, CrossCountry Mortgage began as a mortgage broker before transforming into a full-scale mortgage lender themselves.

Today, they claim to be a top-10 retail mortgage lender, with aspirations to probably crack the top-5 and go even higher over time.

Get Pre-Approved Today!
Are you looking to purchase or refinance a home?
I want to BUY a home
I want to REFINANCE my home

CrossCountry Mortgage Reviews

Powered by Mortgage Research Center, LLC. By using this, you will be matched with participating members of the Mortgage Research Center, LLC network who may contact you with information related to home buying and financing. These members typically have paid to be included but are not endorsed by Mortgage Research Center, LLC or this site. Mortgage Research Center, LLC. is a mortgage licensee – NMLS ID 1907

In 2019, they did loan volume of roughly $14 billion, with a high concentration of loans originated in California, Florida, Illinois, and Ohio, per HMDA data.

In 2019, they acquired Chicago, IL-based PERL Mortgage, and a year earlier, Chicago-based bemortgage. This has allowed them to expand their footprint, especially in the Midwest.

Most recently (May 2020), they acquired the assets of New Jersey-based mortgage lender First Choice Loan Services Inc., a Costco Mortgage partner.

They also own subsidiaries BestRateUSA and Veterans Lending Group, the latter being a VA loan lender.

And were also recently named to Inc. Magazine’s list of 5000 fastest growing private companies in the United States. Let’s learn more about them.

Applying for a Home Loan with CrossCountry Mortgage

First, you fill out a short pre-qualification form on their website. Then a licensed loan officer will contact you within 24 hours to go over eligibility and your loan options.

This will involve a full pre-qualification to ensure you qualify, followed by a consultation to go over loan options and mortgage rates.

You can also use the “find a loan officer” feature to search for a loan officer by name (if you’ve been referred or know someone specific), or search by branch location if you want to speak to someone nearby.

These individuals have their own websites, which have different application forms, some powered by digital mortgage tech company Blend.

So it appears you can apply for a mortgage without actually speaking to anyone. And get personalized rates and compare loan options depending on the branch in question.

Once approved for a loan, there is functionality to upload documents, track loan status, and more.

FastTrack Credit Approval Program CrossCountry Mortgage Reviews

CrossCountry Mortgage offers its FastTrack Credit Approval program, which is designed to give you an edge in a competitive housing market.

First, you apply for a mortgage and provide all the required documentation, such as W-2s, bank statements, and tax returns. Your credit history will be reviewed.

Then you’ll receive two letters – a buyer letter that shows you have Credit Approved status subject to terms and conditions.

And a seller letter (pre-approval letter) you can share with a homeowner to show your approved loan amount, along with the statement that you’ve been Credit Approved.

Even if you haven’t found a home yet, you can clear conditions on your loan that aren’t related to the property itself.

In fact, your loan could close in as few as 7 days after signing a purchase contract, assuming you’ve cleared most of your borrower-specific conditions.

Regardless of how you approach it, they aim to close in 21 days, which is a plus for those buying a home on a tight deadline.

What Home Loan Products Does CrossCountry Mortgage Offer?

Conventional loans (Fannie/Freddie)
Government loans (FHA, USDA, VA)
FHA 203k loans
FHA cash-out refinance
Jumbo loans up to $3 million
Streamline refinances for FHA, USDA, and VA
Reverse mortgages
HELOCs

CrossCountry Mortgage offers home purchase loans, mortgage refinances, renovation loans, home equity lines of credit, and reverse mortgages.

In terms of available loan options, they’ve got all the main offerings, including conventional loans, both conforming loans backed by Fannie/Freddie and jumbo loans for those who require larger loan amounts.

Is Cross Country Mortgage legitimate?

CrossCountry Mortgage is a good company by industry standards. It gets very few official complaints, has an A+ rating with the Better Business Bureau, and hasn’t had any major issues or scandals with borrowers according to NMLS.

Who owns Cross Country Mortgage?

CEO Ronald J. Leonhardt, Jr.ABOUT CROSSCOUNTRY MORTGAGE, LLC

Founded in 2003 by CEO Ronald J. Leonhardt, Jr., CrossCountry Mortgage, LLC is a nationwide mortgage lender with licenses in all 50 states and branches from coast to coast.

What is the best company to get a mortgage from?

In This Post

Latest Mortgage Rates.
The Best Mortgage Lenders 2021.
Better.com.
Flagstar Bank.
Guaranteed Rate.
PenFed Credit Union.
PNC Bank.
Ally.

How do you know if a mortgage company is legit?

First, check out the loan company on your local BBB website. Then do a quick online search and look up customer reviews. Finally, check with your state’s attorney general to make sure that the lender is registered with the proper state government agencies.