CCM Offers Down Payment Assistance to Help First-Time Homebuyers

Modified 17, November, 2024
Created 5, April, 2023

First-time homebuyers smiling on the couch in their new home that they bought using down payment assistance through CrossCountry Mortgage.

CrossCountry Mortgage (CCM) announced today it is helping to make homeownership more accessible in traditionally underserved communities by offering down payment assistance to aspiring first-time homebuyers. CCM is proud to offer the new Freddie Mac BorrowSmart AccessSM. The program provides borrowers with up to $3,000 that can be used toward a down payment and/or closing cost assistance.

BorrowSmart Access is available to qualified first-time homebuyers in the following metros: Atlanta-Sandy Springs-Alpharetta, GA; Chicago-Naperville-Elgin, IL-IN-WI; Detroit-Warren-Dearborn, MI; El Paso, TX; Houston-The Woodlands-Sugar Land, TX; McAllen-Edinburg-Mission, TX; Memphis, TN-MS-AR; Miami-Fort Lauderdale-Pompano Beach, FL; Philadelphia-Camden-Wilmington, PA-NJ-DE-MD and St. Louis, MO-IL.

“In today’s competitive market, first-time homebuyers face many obstacles including trying to save for a down payment,” said Jenn Stracensky, CCM Chief Operating Officer. “BorrowSmart Access supports our mission of making every mortgage feel like a win by giving homebuyers extra purchasing power and putting homeownership within reach especially in underrepresented communities.”

BorrowSmart Access Requirements:

At least one borrower must be a first-time homebuyer.
1-2 unit primary residences only.
Borrower must have an income of no more than 140% of their area median income (AMI).
Homebuyer counseling required.
The property must be located in a qualified location and meet all other applicable Freddie Mac Guide requirements.

BorrowSmart Access is one of the latest products representing CCM’s commitment to get borrowers into their very first home. Launched in November, CCM Community Promise offers a $6,500 grant that can be used toward down payment and/or closing cost assistance to qualified borrowers living in Chicago, Philadelphia, or Detroit.

With more than 600 branches and a presence in all 50 states, CCM is ready to support borrowers with education around the many available options. To check your eligibility and see how much down payment or closing cost money you can receive, contact a CCM loan officer.

About CrossCountry Mortgage

CrossCountry Mortgage (CCM) is the nation’s number one distributed retail mortgage lender with more than 7,000 employees operating over 700 branches and servicing loans across all 50 states, D.C. and Puerto Rico. Our company has been recognized ten times on the Inc. 5000 list of America’s fastest-growing private businesses and has received many awards for our standout culture. We offer more than 120 mortgage, refinance and home equity solutions – ranging from conventional and jumbo mortgages to government-insured programs from FHA and programs for Veterans and rural homebuyers – and we are a direct lender and approved seller and servicer by Freddie Mac, Fannie Mae, and Ginnie Mae. Through our dedication to getting it done, we make every mortgage feel like a win.