CrossCountry Mortgage Boosts Commitment to First-Time Buyers
CrossCountry Mortgage's Commitment to First-Time Homebuyers
In a world where housing prices can feel overwhelming, CrossCountry Mortgage (CCM) is making strides to bring hope and support to aspiring homeowners. The company, recognized as the leading distributed retail mortgage lender in the nation, has committed over $15 million in down payment assistance, thus enabling more than 6,500 first-time homebuyers to step into homes they can proudly call their own.
A Lifeline for Housing Affordability
With the dream of homeownership often stymied by steep down payment costs, CrossCountry Mortgage has taken significant steps to bridge this gap. Initially pledging $10 million, the company surpassed its goal by contributing an impressive $15 million. This commitment not only reflects the company's ambition but also reinforces its principle that everyone deserves access to affordable housing.
Insight from Leadership
Senior Vice President of Housing Initiatives, Jayma Banks, states, "Everyone deserves to be a part of a neighborhood that provides a sense of belonging and security. Putting a down payment on a home remains one of the largest barriers to homeownership. We're dedicated to developing unique solutions to overcome the challenges faced by first-time homebuyers, giving individuals the opportunity to build strong roots in the communities they desire." This sentiment shapes the foundation of CrossCountry Mortgage's mission.
Focused Initiatives for Sustainable Homeownership
To further its efforts, CCM established a dedicated Housing Initiatives team in 2023. This team is focused on crafting innovative, affordable, and sustainable solutions specifically aimed at enhancing access to homeownership for first-time homebuyers, minority homebuyers, and underrepresented communities.
Programs Offering Real Solutions
CCM provides a variety of down payment assistance programs tailored to meet diverse needs, each with specific eligibility criteria. Some of the offerings include:
- Freddie Mac BorrowSmart Access: An initiative that offers up to $4,000 in down payment assistance, dependent on Area Median Income (AMI) and additional criteria. This program is available in select markets.
- CCM Smart Start: A program designed for first-time homebuyers, which covers up to $5,250 of the required down payment, giving buyers a much-needed financial boost.
- CCM Community Promise: This program provides $6,500 in assistance for first-time homebuyers living in qualifying neighborhoods within specific cities, promoting community growth and investment.
Educational Resources for Homebuyers
To ensure that first-time homebuyers are well-informed and prepared, CCM offers a comprehensive digital educational experience. This interactive platform guides consumers through the home-buying process, featuring a mortgage calculator, the ability to connect directly with local loan officers, and a wealth of real stories reflecting the journeys of other first-time homebuyers.
CCM's Established Presence in the Mortgage Industry
Founded to empower individuals in their homeownership journeys, CrossCountry Mortgage boasts over 7,000 employees across more than 700 branches, serving customers in all 50 states, D.C., and Puerto Rico. Their impressive track record includes being recognized multiple times on the Inc. 5000 list as one of America's fastest-growing private companies. With over 120 mortgage products ranging from conventional loans to government-insured offerings, they continue to adapt to the evolving landscape of home financing.
Contact Information
For more information about the programs and support available through CrossCountry Mortgage, interested individuals can reach out to:
Natalie Lonjak
Director, Corporate Communications
Natalie.Lonjak@ccm.com
Frequently Asked Questions
What is CrossCountry Mortgage's mission?
CrossCountry Mortgage aims to make homeownership accessible and affordable for all, focusing on providing down payment assistance and educational resources for first-time buyers.
How much has CrossCountry Mortgage committed to down payment assistance?
The company has committed over $15 million to assist more than 6,500 first-time homebuyers in achieving their homeownership goals.
What types of down payment assistance programs does CCM offer?
CCM offers programs like Freddie Mac BorrowSmart Access, CCM Smart Start, and CCM Community Promise, each providing specific financial relief to eligible first-time homebuyers.
How does CrossCountry Mortgage help educate homebuyers?
CCM provides a digital educational experience that guides homebuyers through the purchasing process with tools like mortgage calculators and connections to loan officers.
Where can I find more information about CrossCountry Mortgage?
For further details regarding their offerings and support, you can visit CrossCountry Mortgage's website or reach out to their corporate communications director via email.
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