Cornerstone Credit Union Mortgage Rates, Fees & Info

Freeport, IL

LEI: 549300COR6KN4QP42U93

Tax ID: 36-2217287

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Cornerstone Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Freeport, Rockford, Janesville, Chicago, and Sterling among others. We have data for 9 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.

    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.

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    Originations

    67

    Origination Dollar Volume (All Markets)

    $4,465,000

    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
    Freeport, IL (FHA|USDA|VA) 32 $1,390,000 $43,438 $0 0.00%
    Outside of Metro Areas 8 $1,040,000 $130,000 $0 0.00%
    ROCKFORD, IL (FHA|USDA|VA) 10 $870,000 $87,000 $0 0.00%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 8 $450,000 $56,250 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    Sterling, IL (FHA|USDA|VA) 4 $200,000 $50,000 $0 0.00%
    Rochelle, IL (FHA|USDA|VA) 2 $110,000 $55,000 $0 0.00%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Dixon, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Cornerstone Credit Union's top markets include Freeport, Rockford, Janesville, Chicago, and Sterling among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 67 $4,465,000 $66,642 $0 0.00%

    For 2023, Cornerstone Credit Union's most frequently originated type of loan was Conventional, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $1,740,000 $79,091 $0 0.00%
    Refi 20 $1,730,000 $86,500 $0 0.00%
    Other 9 $275,000 $30,556 $0 0.00%
    Home Improvement 8 $180,000 $22,500 $0 0.00%
    Cash Out Refi 8 $540,000 $67,500 $0 0.00%

    For 2023, Cornerstone Credit Union's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 67 $4,465,000 $66,642 $0 0.00%

    For 2023, Cornerstone Credit Union's most frequently cited loan duration was Other, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 55 $2,385,000 $43,364 $0 0.00%
    $100k-200k 9 $1,325,000 $147,222 $0 0.00%
    $200k-400k 3 $755,000 $251,667 $0 0.00%

    2023 saw Cornerstone Credit Union place emphasis on $100,000 or less loans with 55 originations, totaling $2,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 17 $1,135,000 $66,765 $0 0.00%
    $50k or less 16 $700,000 $43,750 $0 0.00%
    $100k-150k 11 $775,000 $70,455 $0 0.00%
    $75k-100k 11 $705,000 $64,091 $0 0.00%
    $150k-250k 4 $450,000 $112,500 $0 0.00%

    Cornerstone Credit Union lent most frequently to those with incomes in the $50k-75k range, with 17 originations. The second most popular income band? $50k or less, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 67 $4,465,000 $66,642 $0 0.00%

    Cornerstone Credit Union lent most frequently to those with DTI ratios of Exempt%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 50 $3,150,000 $63,000 $0 0.00%
    Not applicable 8 $700,000 $87,500 $0 0.00%
    Not provided 6 $530,000 $88,333 $0 0.00%
    Asian 1 $45,000 $45,000 $0 0.00%
    Black 2 $40,000 $20,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.59%

    Cornerstone Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    65.67%

    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 67 $4,465,000 $66,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    67 $4,465,000 $66,642