Cornerstone Bank Mortgage Rates, Fees & Info

Eureka Springs, AR

LEI: 5493007UW5GSKHED2095

Tax ID: 71-0009810

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Mortgage Data

Review & Overview

Cornerstone Bank is a smaller bank specializing in Home Purchase loans. Cornerstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fayetteville, Harrison, Tulsa, Branson, and Springfield among others. We have data for 10 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

277

Origination Dollar Volume (All Markets)

$49,125,000

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
Outside of Metro Areas 129 $22,335,000 $173,140 $0 0.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 65 $12,355,000 $190,077 $0 0.00%
Harrison, AR (FHA|USDA|VA) 74 $11,520,000 $155,676 $0 0.00%
TULSA, OK (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $0 0.00%
Branson, MO (FHA|USDA|VA) 2 $570,000 $285,000 $0 0.00%
SPRINGFIELD, MO (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Russellville, AR (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Mountain Home, AR (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Cornerstone Bank's top markets include Fayetteville, Harrison, Tulsa, Branson, and Springfield among others.

Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 277 $49,125,000 $177,347 $0 0.00%

    For 2023, Cornerstone Bank's most frequently originated type of loan was Conventional, with 277 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 160 $34,270,000 $214,188 $0 0.00%
    Refi 36 $4,390,000 $121,944 $0 0.00%
    Home Improvement 33 $2,345,000 $71,061 $0 0.00%
    Cash Out Refi 31 $6,345,000 $204,677 $0 0.00%
    Other 17 $1,775,000 $104,412 $0 0.00%

    For 2023, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 160 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 277 $49,125,000 $177,347 $0 0.00%

    For 2023, Cornerstone Bank's most frequently cited loan duration was Other, with 277 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 107 $6,395,000 $59,766 $0 0.00%
    $100k-200k 85 $12,205,000 $143,588 $0 0.00%
    $200k-400k 68 $17,830,000 $262,206 $0 0.00%
    $400k-600k 13 $6,305,000 $485,000 $0 0.00%
    $1MM+ 3 $5,745,000 $1,915,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2023 saw Cornerstone Bank place emphasis on $100,000 or less loans with 107 originations, totaling $6,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 59 $6,375,000 $108,051 $0 0.00%
    $50k-75k 50 $7,080,000 $141,600 $0 0.00%
    $100k-150k 48 $8,680,000 $180,833 $0 0.00%
    $75k-100k 44 $6,460,000 $146,818 $0 0.00%
    $150k-250k 32 $8,120,000 $253,750 $0 0.00%
    $250k+ 12 $6,650,000 $554,167 $0 0.00%

    Cornerstone Bank lent most frequently to those with incomes in the $50k or less range, with 59 originations. The second most popular income band? $50k-75k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 277 $49,125,000 $177,347 $0 0.00%

    Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 277 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 238 $41,830,000 $175,756 $0 0.00%
    Not applicable 25 $5,005,000 $200,200 $0 0.00%
    Not provided 7 $1,115,000 $159,286 $0 0.00%
    American Indian 4 $820,000 $205,000 $0 0.00%
    Asian 2 $260,000 $130,000 $0 0.00%
    Other Asian 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.92%

    Cornerstone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.81%

    Cornerstone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 277 $49,125,000 $177,347

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    277 $49,125,000 $177,347