Cornerstone Credit Union Mortgage Rates, Fees & Info
Freeport, ILLEI: 549300COR6KN4QP42U93
Tax ID: 36-2217287
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Cornerstone Credit Union is a smaller credit union specializing in Home Purchase loans. Cornerstone Credit Union has a high proportion of conventional loans. Cornerstone Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Freeport, Rockford, Janesville, Toledo, and Sterling among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Cornerstone Credit Union has an 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
63Origination Dollar Volume (All Markets)
$5,825,000Top 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 |
|---|---|---|---|---|---|
| Freeport, IL (FHA|USDA|VA) | 36 | $2,330,000 | $64,722 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $1,535,000 | $511,667 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 8 | $910,000 | $113,750 | $0 | 0.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 4 | $360,000 | $90,000 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 6 | $230,000 | $38,333 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 48 | $4,990,000 | $103,958 | $0 | 0.00% |
| Conventional | 15 | $835,000 | $55,667 | $0 | 0.00% |
For 2024, Cornerstone Credit Union's most frequently originated type of loan was Conventional, with 48 originations. Their 2nd most popular type was Conventional, with 15 originations.
Loan Reason
For 2024, Cornerstone Credit Union's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Home Improvement, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 63 | $5,825,000 | $92,460 | $0 | 0.00% |
For 2024, Cornerstone Credit Union's most frequently cited loan duration was Other, with 63 originations.
Loan Sizing
2024 saw Cornerstone Credit Union place emphasis on $100,000 or less loans with 51 originations, totaling $2,115,000 in origination value.
Applicant Income
Cornerstone Credit Union lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 63 | $5,825,000 | $92,460 | $0 | 0.00% |
Cornerstone Credit Union lent most frequently to those with DTI ratios of Exempt%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.79%
Cornerstone Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination66.67%
Cornerstone Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 63 | $5,825,000 | $92,460 |