Cornerstone Community Federal Credit Union Mortgage Rates, Fees & Info
Lockport, NYLEI: 254900LTYFDA8IOP9O78
Tax ID: 16-0817398
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Cornerstone Community Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Cornerstone Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Buffalo, Rochester, and Batavia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Cornerstone Community Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
47Origination Dollar Volume (All Markets)
$7,515,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 43 | $6,895,000 | $160,349 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $305,000 | $305,000 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| Batavia, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Cornerstone Community Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $7,515,000 | $159,894 | $0 | 0.00% |
For 2022, Cornerstone Community Federal Credit Union's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 31 | $5,465,000 | $176,290 | $0 | 0.00% |
| Cash Out Refi | 15 | $1,855,000 | $123,667 | $0 | 0.00% |
| Refi | 1 | $195,000 | $195,000 | $0 | 0.00% |
For 2022, Cornerstone Community Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 47 | $7,515,000 | $159,894 | $0 | 0.00% |
For 2022, Cornerstone Community Federal Credit Union's most frequently cited loan duration was Other, with 47 originations.
Loan Sizing
2022 saw Cornerstone Community Federal Credit Union place emphasis on $100k-200k loans with 22 originations, totaling $3,020,000 in origination value.
Applicant Income
Cornerstone Community Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $75k-100k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 47 | $7,515,000 | $159,894 | $0 | 0.00% |
Cornerstone Community Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.85%
Cornerstone Community Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination70.21%
Cornerstone Community Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 47 | $7,515,000 | $159,894 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Cornerstone Home Lending Inc. | VA mortgage | Trouble during payment process | 1 | 100.0% |