21 Day Loan Process

Fast mortgage service comes standard at CrossCountry Mortgage, Inc. We can close most loans in as few as 21 days. We understand that when you’ve found a home that you love, you want to start enjoying it as quickly as possible.

Step One

We’ll work closely with you to obtain all documentation within 7 days of the date of your application, ensure that it’s complete and accurate, and submit it to loan processing for review.

Step Two

A loan processor will review your documentation within 24 hours and complete that review within 2 days of receipt. The processor will then submit your loan to underwriting.

Step Three

Your loan will be assigned to an underwriter who will complete an initial review within 24 hours. If any conditions are required, your loan will be sent back to the processor to clear them and prepare for closing — all within 7 days of the underwriter’s initial review. Once complete, the loan will be sent back to underwriting for final review and approval.

Step Four

The underwriter will issue a clear to close (CTC) and assign the loan back to the processor who will inform all parties of the CTC, verify the closing date and time, and place the loan in the closing queue. The closer will have 24 hours to provide closing documentation to the settlement agent.

Step Five

You’ll attend the closing with your agent and sign all remaining documentation.

Mortgage Checklist

The following information is usually required during the loan process. Additional documentation may be requested.

  • Your government-issued photo ID
  • Federal tax returns for the most recent two years
  • W-2s for the most recent two years
  • Pay stubs for the past 30 days
  • Bank statements for the most recent two months
  • The purchase contract to your new home
  • Most recent copies of asset/retirement account statements
  • The declarations page of your homeowner’s insurance

I want to buy a home, and I...

  • want stability in payments and rate

    If you’re looking to budget for a loan payment that won’t change as market rates change, then a fixed rate mortgage might be for you. You’ll have the security of knowing what your payment will be throughout the life of the loan.

  • want a low interest rate and plan to live in the house for just a few years

    If you’re looking for a rate that may be initially lower than a fixed rate mortgage or don’t plan on living in your home long-term, then an adjustable rate mortgage might be right for you.

  • want a property that needs renovations or improvements

    If your dream home is a fixer-upper or one that needs improvements, then an FHA 203(k) loan may fit your need to combine a home purchase and qualified improvement costs together into one mortgage.

  • want a luxury or high-priced property

    More expensive or luxury dream homes often require loans that exceed the limit of a conventional home loan. A CrossCountry Mortgage, Inc. jumbo mortgage can provide up to $3 million in financing to help you secure your home purchase.

  • am a veteran

    If you’re a veteran, then a VA home loan, insured by the U.S. Department of Veteran Affairs, can provide favorable terms, including up to 100% financing with no mortgage insurance. You don’t need to be a first-time home buyer, and you can reuse the benefit.

  • am looking for a low down payment

    CrossCountry Mortgage, Inc. offers many low down payment programs. An FHA home loan, which is insured by the Federal Housing Administration, has a 3.5% down payment requirement. FHA loans can benefit first-time homebuyers who may need a co-signer on the loan or have less than perfect credit. USDA and VA home loans also offer low down payment options for qualifying borrowers.

  • want a home in a rural area

    Through a USDA rural home loan, purchasing a home in a designated rural area can provide the benefits of 100% financing, flexible credit requirements, and the security of a fixed rate.

I want to refinance a home, and I...

  • want conventional refinance options

    • HARP (Home Affordable Refinance Program)
    • Open Access Refinance
    • HomeReady™ Refinance
    • HomePossible™ Refinance
    • Cash-out Refinance
    • Refinance a fixed rate mortgage into an adjustable rate mortgage (ARM)

  • want FHA refinance options

    • FHA Replacement Loan
    • FHA Cash-out Refinance
    • FHA Streamline Refinance
    • FHA 203(k) Limited Refinance
    • FHA 203(k) Standard Refinance

  • want VA refinance options

    • VA Cash-Out Refinance
    • VA Interest Rate Reduction Refinance Loan (VA IRRRL)

  • want USDA rural refinance options

    • USDA Streamline Refinance

  • want jumbo refinance options

    • Jumbo Cash-Out Refinance

Home Buying Guide

Our free guide to buying a home provides all the information you need to understand the home financing process, the loan options available to you, and why buying a home may be better than renting.

Home Refinance Guide

Our free guide to refinancing a home covers available refinance programs, the benefits of refinancing, and the process to refinance a loan.

Mortgage Buying Guide