Cornerstone Mortgage Providers Rates, Fees & Info
FORT COLLINS, COLEI: 549300D9QLX4MOV5SS13
Tax ID: 32-0293417
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Mortgage Data
Review & Overview
Cornerstone Mortgage Providers is a smaller mortgage company specializing in Home Purchase loans. Cornerstone Mortgage Providers has a high proportion of conventional loans. Their top (well, only) market is Houston.Cornerstone Mortgage Providers 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. Cornerstone Mortgage Providers is typically an average 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.
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Originations
46Origination Dollar Volume (All Markets)
$14,820,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 46 | $14,820,000 | $322,174 | $8,198 | 4.53% |
Similar Lenders
We use machine learning to identify the top lenders compared against CORNERSTONE MORTGAGE PROVIDERS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $14,820,000 | $322,174 | $8,198 | 4.53% |
For 2018, Cornerstone Mortgage Providers's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 46 | $14,820,000 | $322,174 | $8,198 | 4.53% |
For 2018, Cornerstone Mortgage Providers's most frequently cited loan purpose was Home Purchase, with 46 originations.
Loan Duration/Length
For 2018, Cornerstone Mortgage Providers's most frequently cited loan duration was 30 Year, with 39 originations. The 2nd most popular length was 20 Year, with 4 originations.
Origination Fees/Closing Costs
Cornerstone Mortgage Providers's average total fees were $8,250, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 28 | $8,840,000 | $315,714 |
| 3-4% | 10 | $3,330,000 | $333,000 |
| 5-6% | 7 | $2,405,000 | $343,571 |
| 6-7% | 1 | $245,000 | $245,000 |
During 2018, Cornerstone Mortgage Providers's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 28 originations.
Loan Sizing
2018 saw Cornerstone Mortgage Providers place emphasis on $200k-400k loans with 39 originations, totaling $12,135,000 in origination value.
Applicant Income
Cornerstone Mortgage Providers lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $150k-250k, with 14 originations.
Applicant Debt to Income Ratio
Cornerstone Mortgage Providers lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.97%
Cornerstone Mortgage Providers has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination60.87%
Cornerstone Mortgage Providers 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 |
|---|---|---|---|
| NA | 46 | $14,820,000 | $322,174 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 46 | $14,820,000 | $322,174 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Cornerstone Mortgage Group, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |