Cornerstone Bank Mortgage Rates, Fees & Info

OVERLAND PARK, KS

LEI: 254900QXGTL5RYZXK761

Tax ID: 43-1937586

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Mortgage Data

Review & Overview

Cornerstone Bank is a smaller bank specializing in Home Purchase and Refi loans. Cornerstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Phoenix, Warrensburg, and Lawrence among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cornerstone Bank 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

87

Origination Dollar Volume (All Markets)

$52,255,000

Top 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
KANSAS CITY, MO-KS (FHA|USDA|VA) 83 $51,165,000 $616,446 $0 0.00%
Outside of Metro Areas 1 $535,000 $535,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Warrensburg, MO (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
LAWRENCE, KS (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Cornerstone Bank's top markets include Kansas City, Phoenix, Warrensburg, and Lawrence among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 87 $52,255,000 $600,632 $0 0.00%

    For 2023, Cornerstone Bank's most frequently originated type of loan was Conventional, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $37,110,000 $562,273 $0 0.00%
    Refi 13 $12,035,000 $925,769 $0 0.00%
    Cash Out Refi 6 $2,400,000 $400,000 $0 0.00%
    Home Improvement 2 $710,000 $355,000 $0 0.00%

    For 2023, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 87 $52,255,000 $600,632 $0 0.00%

    For 2023, Cornerstone Bank's most frequently cited loan duration was Other, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 32 $9,320,000 $291,250 $0 0.00%
    $100k-200k 17 $2,455,000 $144,412 $0 0.00%
    $1MM+ 12 $30,480,000 $2,540,000 $0 0.00%
    $100,000 or less 10 $790,000 $79,000 $0 0.00%
    $400k-600k 10 $4,690,000 $469,000 $0 0.00%
    $600k-1MM 6 $4,520,000 $753,333 $0 0.00%

    2023 saw Cornerstone Bank place emphasis on $200k-400k loans with 32 originations, totaling $9,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 3 $6,475,000 $2,158,333 $0 0.00%
    $150k-250k 2 $540,000 $270,000 $0 0.00%
    $75k-100k 2 $390,000 $195,000 $0 0.00%
    $100k-150k 1 $145,000 $145,000 $0 0.00%
    $50k-75k 1 $405,000 $405,000 $0 0.00%
    $50k or less 1 $85,000 $85,000 $0 0.00%

    Cornerstone Bank lent most frequently to those with incomes in the $250k+ range, with 3 originations. The second most popular income band? $150k-250k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 87 $52,255,000 $600,632 $0 0.00%

    Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 76 $43,390,000 $570,921 $0 0.00%
    White 8 $8,240,000 $1,030,000 $0 0.00%
    Not provided 2 $470,000 $235,000 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.05%

    Cornerstone Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    89.66%

    Cornerstone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 87 $52,255,000 $600,632

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    87 $52,255,000 $600,632