Cornerstone National Bank & Trust Company Mortgage Rates, Fees & Info

Palatine, IL

LEI: 54930001LYHHRVGJ6B97

Tax ID: 36-4388788

5 stars - Updated: 4/14/24 - out of 5 stars, based on 9 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Cornerstone National Bank & Trust Company is a smaller bank specializing in Home Purchase loans. Cornerstone National Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Whitewater, Tulsa, Breckenridge, and Rockford among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cornerstone National Bank & Trust Company has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Cornerstone National Bank & Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.28% 4/14/24
30 Year Conventional Refi 5.98% 4/14/24
30 Year Cash-out Refi 6.20% 4/14/24
15 Year Conventional Purchase 5.76% 4/14/24
15 Year Conventional Refi 5.58% 4/14/24
15 Year Cash-out Refi 5.58% 4/14/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Cornerstone National Bank & Trust Company Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Cornerstone National Bank & Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

74

Origination Dollar Volume (All Markets)

$28,880,000

Awards

Cornerstone National Bank & Trust Company 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Cornerstone National Bank & Trust Company's average 30 year fixed mortgage rate was 6.64%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

Cornerstone National Bank & Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $4,419.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 56 $22,330,000 $398,750 $4,638 6.78%
Whitewater, WI (FHA|USDA|VA) 3 $895,000 $298,333 $2,018 6.71%
TULSA, OK (FHA|USDA|VA) 1 $875,000 $875,000 $5,631 7.50%
Outside of Metro Areas 2 $690,000 $345,000 $0 6.88%
Breckenridge, CO (FHA|USDA|VA) 1 $635,000 $635,000 $0 7.25%
ROCKFORD, IL (FHA|USDA|VA) 2 $620,000 $310,000 $4,080 7.38%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $605,000 $605,000 $5,309 8.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $405,000 $405,000 $3,836 5.88%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,554 6.13%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $345,000 $345,000 $2,878 6.63%
KNOXVILLE, TN (FHA|USDA|VA) 1 $285,000 $285,000 $3,747 6.00%
Rochelle, IL (FHA|USDA|VA) 1 $245,000 $245,000 $0 7.75%
Fort Leonard Wood, MO (FHA|USDA|VA) 1 $235,000 $235,000 $2,481 5.88%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $225,000 $225,000 $825 7.50%
Freeport, IL (FHA|USDA|VA) 1 $105,000 $105,000 $3,018 6.00%
Cornerstone National Bank & Trust Company's top markets include Chicago, Whitewater, Tulsa, Breckenridge, and Rockford among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $28,880,000 $390,270 $4,301 6.79%

    For 2023, Cornerstone National Bank & Trust Company's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $25,515,000 $418,279 $4,759 6.77%
    Refi 7 $2,425,000 $346,429 $1,159 6.72%
    Cash Out Refi 4 $750,000 $187,500 $1,289 7.09%
    Other 2 $190,000 $95,000 $1,493 7.00%

    For 2023, Cornerstone National Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 49 $16,535,000 $337,449 $4,419 6.64%
    5 Year 12 $5,880,000 $490,000 $0 6.69%
    Other 4 $3,390,000 $847,500 $3,956 7.44%
    1 Year 3 $675,000 $225,000 $0 8.50%
    15 Year 3 $875,000 $291,667 $3,625 6.08%
    20 Year 1 $605,000 $605,000 $5,309 8.00%
    3 Year 1 $245,000 $245,000 $0 7.75%
    10 Year 1 $675,000 $675,000 $1,507 8.00%

    For 2023, Cornerstone National Bank & Trust Company's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 5 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 47 $16,255,000 $345,851
    $1k-2k 5 $4,665,000 $933,000
    $2k-3k 1 $245,000 $245,000

    Cornerstone National Bank & Trust Company's average total fees were $4,419, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 47 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 35 $10,985,000 $313,857
    7-8% 24 $12,030,000 $501,250
    5-6% 12 $5,190,000 $432,500
    Over 8% 3 $675,000 $225,000

    During 2023, Cornerstone National Bank & Trust Company's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 32 $9,220,000 $288,125 $4,045 6.81%
    $100k-200k 15 $2,385,000 $159,000 $3,508 6.59%
    $400k-600k 12 $5,780,000 $481,667 $5,117 6.45%
    $600k-1MM 9 $6,155,000 $683,889 $5,002 7.26%
    $100,000 or less 3 $185,000 $61,667 $1,616 7.54%
    $1MM+ 3 $5,155,000 $1,718,333 $7,220 6.83%

    2023 saw Cornerstone National Bank & Trust Company place emphasis on $200k-400k loans with 32 originations, totaling $9,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 21 $13,015,000 $619,762 $5,206 6.96%
    $150k-250k 12 $3,640,000 $303,333 $4,292 6.70%
    $100k-150k 10 $2,820,000 $282,000 $4,420 6.39%
    $50k-75k 8 $1,490,000 $186,250 $2,862 6.47%
    $75k-100k 6 $1,370,000 $228,333 $3,999 6.60%
    $50k or less 1 $105,000 $105,000 $1,873 6.88%

    Cornerstone National Bank & Trust Company lent most frequently to those with incomes in the $250k+ range, with 21 originations. The second most popular income band? $150k-250k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 18 $7,380,000 $410,000 $4,322 7.02%
    20-30% 12 $4,520,000 $376,667 $4,734 6.57%
    <20% 7 $1,805,000 $257,857 $4,428 6.43%
    39% 5 $1,195,000 $239,000 $3,160 6.05%
    46% 3 $955,000 $318,333 $3,995 6.13%
    36% 3 $1,435,000 $478,333 $5,778 6.88%
    41% 2 $910,000 $455,000 $5,363 6.25%
    50-60% 2 $190,000 $95,000 $835 7.16%
    >60% 1 $2,105,000 $2,105,000 $7,387 7.75%
    37% 1 $455,000 $455,000 $5,087 6.38%
    40% 1 $305,000 $305,000 $5,016 6.13%
    42% 1 $105,000 $105,000 $1,873 6.88%
    44% 1 $225,000 $225,000 $825 7.50%
    45% 1 $625,000 $625,000 $5,239 6.63%
    48% 1 $245,000 $245,000 $0 7.63%
    49% 1 $265,000 $265,000 $3,709 7.50%

    Cornerstone National Bank & Trust Company lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $21,780,000 $375,517 $4,367 6.65%
    Not applicable 13 $5,675,000 $436,538 $0 7.24%
    Not provided 3 $1,425,000 $475,000 $2,608 7.58%

    Approval Rates

    Total approvals of all applications
    97.65%

    Cornerstone National Bank & Trust Company 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
    90.54%

    Cornerstone National Bank & Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 74 $28,880,000 $390,270

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    74 $28,880,000 $390,270

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $1,485,000 $297,000 $1,982 6.56%
    40-60% 10 $2,950,000 $295,000 $2,889 6.78%
    60-80% 34 $14,500,000 $426,471 $4,582 6.90%
    80-100% 24 $9,910,000 $412,917 $4,933 6.65%
    Under 20% 1 $35,000 $35,000 $835 8.00%