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

Palatine, IL

LEI: 54930001LYHHRVGJ6B97

Tax ID: 36-4388788

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Cornerstone National Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Cornerstone National Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Whitewater, North Port, Naples, and Phoenix among others. We have data for 23 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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.28% 10/13/24
    30 Year Conventional Refi 5.98% 10/13/24
    30 Year Cash-out Refi 6.20% 10/13/24
    15 Year Conventional Purchase 5.76% 10/13/24
    15 Year Conventional Refi 5.58% 10/13/24
    15 Year Cash-out Refi 5.58% 10/13/24
    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

    180

    Origination Dollar Volume (All Markets)

    $84,010,000

    Awards

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

    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) 145 $70,675,000 $487,414 $3,519 4.43%
    Whitewater, WI (FHA|USDA|VA) 6 $2,310,000 $385,000 $2,381 4.94%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,160,000 $580,000 $4,471 2.94%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,040,000 $520,000 $6,033 3.44%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $930,000 $465,000 $5,358 4.94%
    Outside of Metro Areas 3 $845,000 $281,667 $4,206 3.92%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $750,000 $375,000 $4,025 5.44%
    AKRON, OH (FHA|USDA|VA) 1 $645,000 $645,000 $3,614 6.25%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $625,000 $625,000 $5,924 2.88%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $615,000 $615,000 $3,058 5.63%
    ROCKFORD, IL (FHA|USDA|VA) 2 $520,000 $260,000 $0 5.50%
    Laramie, WY (FHA|USDA|VA) 1 $505,000 $505,000 $1,989 5.00%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $475,000 $475,000 $3,571 4.63%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $460,000 $230,000 $2,044 5.63%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $455,000 $455,000 $4,297 4.88%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $405,000 $405,000 $2,622 4.50%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $365,000 $365,000 $3,470 3.50%
    Key West, FL (FHA|USDA|VA) 1 $355,000 $355,000 $666 3.38%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $255,000 $255,000 $4,147 4.88%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $215,000 $215,000 $2,564 2.88%
    RACINE, WI (FHA|USDA|VA) 1 $165,000 $165,000 $2,273 6.13%
    Granbury, TX (FHA|USDA|VA) 1 $155,000 $155,000 $1,982 4.88%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.00%
    Cornerstone National Bank & Trust Company's top markets include Chicago, Whitewater, North Port, Naples, and Phoenix among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Cornerstone National Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Savings Bank of Hegewisch
    Similarity Rank: 64
    Liberty Bank for Savings
    Similarity Rank: 116
    FINANCIAL PLUS
    Similarity Rank: 198
    DuPage Credit Union
    Similarity Rank: 579
    EDUCATORS CREDIT UNION
    Similarity Rank: 850
    Community State Bank
    Similarity Rank: 930
    Bank of Pontiac
    Similarity Rank: 1050
    LAKE MORTGAGE COMPANY INC
    Similarity Rank: 1120
    Illinois Community Credit Unio
    Similarity Rank: 1170
    PARTNERSHIP FINANCIAL
    Similarity Rank: 1505

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 180 $84,010,000 $466,722 $3,481 4.46%

    For 2022, Cornerstone National Bank & Trust Company's most frequently originated type of loan was Conventional, with 180 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 122 $54,130,000 $443,689 $4,437 4.61%
    Refi 40 $24,920,000 $623,000 $1,283 3.89%
    Cash Out Refi 11 $3,265,000 $296,818 $970 4.36%
    Other 6 $1,620,000 $270,000 $1,817 4.77%
    Home Improvement 1 $75,000 $75,000 $845 7.63%

    For 2022, Cornerstone National Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 122 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 109 $36,385,000 $333,807 $3,796 4.61%
    15 Year 28 $8,900,000 $317,857 $2,917 3.65%
    5 Year 22 $19,020,000 $864,545 $0 4.69%
    Other 13 $11,985,000 $921,923 $1,884 4.99%
    10 Year 7 $7,635,000 $1,090,714 $946 3.66%
    1 Year 1 $85,000 $85,000 $0 4.00%

    For 2022, Cornerstone National Bank & Trust Company's most frequently cited loan duration was 30 Year, with 109 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 124 $41,550,000 $335,081
    $1k-2k 8 $1,900,000 $237,500
    $2k-3k 2 $410,000 $205,000
    $3k-4k 1 $395,000 $395,000
    $5k+ 1 $395,000 $395,000

    Cornerstone National Bank & Trust Company's average total fees were $3,796, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 124 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 65 $40,045,000 $616,077
    3-4% 42 $21,640,000 $515,238
    5-6% 34 $9,640,000 $283,529
    2.5-3% 17 $6,305,000 $370,882
    6-7% 13 $4,245,000 $326,538
    <2.5% 7 $1,815,000 $259,286
    7-8% 2 $320,000 $160,000

    During 2022, Cornerstone National Bank & Trust Company's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 4-5%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 74 $22,530,000 $304,459 $3,493 4.50%
    $400k-600k 38 $17,760,000 $467,368 $3,266 4.51%
    $100k-200k 36 $5,550,000 $154,167 $3,730 4.27%
    $600k-1MM 14 $9,760,000 $697,143 $4,503 4.37%
    $100,000 or less 9 $685,000 $76,111 $1,032 4.97%
    $1MM+ 9 $27,725,000 $3,080,556 $1,810 4.31%

    2022 saw Cornerstone National Bank & Trust Company place emphasis on $200k-400k loans with 74 originations, totaling $22,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 47 $16,475,000 $350,532 $3,588 4.55%
    $250k+ 37 $15,135,000 $409,054 $3,443 4.43%
    $100k-150k 28 $8,120,000 $290,000 $3,249 4.30%
    $75k-100k 17 $4,115,000 $242,059 $3,046 4.81%
    $50k-75k 8 $1,430,000 $178,750 $3,991 4.72%
    $50k or less 4 $520,000 $130,000 $3,426 3.59%

    Cornerstone National Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 47 originations. The second most popular income band? $250k+, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 48 $15,830,000 $329,792 $3,809 4.41%
    30-36% 28 $8,050,000 $287,500 $3,516 4.70%
    <20% 26 $8,230,000 $316,538 $2,949 4.16%
    36% 7 $2,175,000 $310,714 $3,735 4.46%
    42% 6 $2,910,000 $485,000 $3,983 4.85%
    38% 5 $1,315,000 $263,000 $2,885 4.48%
    41% 4 $1,220,000 $305,000 $3,842 3.97%
    39% 4 $1,250,000 $312,500 $2,608 4.34%
    44% 4 $750,000 $187,500 $4,517 4.53%
    37% 3 $865,000 $288,333 $2,929 5.75%
    40% 3 $1,205,000 $401,667 $2,110 4.42%
    47% 2 $600,000 $300,000 $1,798 5.75%
    48% 2 $850,000 $425,000 $5,652 4.88%
    >60% 1 $285,000 $285,000 $0 2.50%
    45% 1 $255,000 $255,000 $4,147 4.88%
    46% 1 $405,000 $405,000 $0 4.63%
    43% 1 $645,000 $645,000 $5,186 2.88%

    Cornerstone National Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 30-36%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 139 $44,755,000 $321,978 $3,479 4.45%
    Not applicable 34 $37,170,000 $1,093,235 $0 4.43%
    Asian 4 $1,010,000 $252,500 $3,947 4.03%
    Not provided 2 $630,000 $315,000 $2,124 6.19%
    Black 1 $445,000 $445,000 $5,080 5.00%

    Approval Rates

    Total approvals of all applications
    99.00%

    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
    95.00%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 180 $84,010,000 $466,722

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    180 $84,010,000 $466,722

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $4,220,000 $263,750 $2,658 4.37%
    40-60% 34 $12,660,000 $372,353 $2,390 4.29%
    60-80% 82 $45,770,000 $558,171 $3,821 4.50%
    80-100% 38 $14,250,000 $375,000 $4,303 4.55%
    Under 20% 10 $7,110,000 $711,000 $1,622 4.52%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Cornerstone Home Lending Inc. VA mortgage Trouble during payment process 1 100.0%