Cornerstone Mortgage Partners Of Texas L.p. Rates, Fees & InfoHOUSTON, TX
Tax ID: 20-5113139
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCornerstone Mortgage Partners Of Texas L.p. is a smaller mortgage company specializing in Home Purchase loans. Cornerstone Mortgage Partners Of Texas L.p. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Houston, Dallas, Austin, and San Antonio among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)
Cornerstone Mortgage Partners Of Texas L.p. 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 Partners Of Texas L.p. is typically a high 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.52%||9/25/23|
|30 Year Conventional Refi||6.73%||9/25/23|
|30 Year Cash-out Refi||7.06%||9/25/23|
|30 Year FHA Purchase||7.49%||9/25/23|
|30 Year VA Purchase||5.97%||9/25/23|
|15 Year Conventional Purchase||5.83%||9/25/23|
|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 Mortgage Partners Of Texas L.p. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$321,610,000
Cornerstone Mortgage Partners Of Texas L.p.'s average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.24%.
Relative Fees (Closing Costs)
Cornerstone Mortgage Partners Of Texas L.p.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $10,103.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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)||242||$98,050,000||$405,165||$9,789||5.00%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||200||$96,000,000||$480,000||$11,392||4.80%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||199||$95,635,000||$480,578||$8,843||5.05%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||90||$31,710,000||$352,333||$9,166||4.94%|
|Outside of Metro Areas||1||$215,000||$215,000||$9,830||4.38%|
We use machine learning to identify the top lenders compared against CORNERSTONE MORTGAGE PARTNERS OF TEXAS L.P. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently originated type of loan was Conventional, with 609 originations. Their 2nd most popular type was VA, with 87 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||2||$870,000||$435,000||$9,663||4.06%|
For 2022, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently cited loan purpose was Home Purchase, with 729 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
For 2022, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently cited loan duration was 30 Year, with 675 originations. The 2nd most popular length was 15 Year, with 48 originations.
Origination Fees/Closing Costs
Cornerstone Mortgage Partners Of Texas L.p.'s average total fees were $10,103, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 314 originations.
During 2022, Cornerstone Mortgage Partners Of Texas L.p.'s average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was 5-6%, with 253 originations.
2022 saw Cornerstone Mortgage Partners Of Texas L.p. place emphasis on $400k-600k loans with 344 originations, totaling $167,790,000 in origination value.
Cornerstone Mortgage Partners Of Texas L.p. lent most frequently to those with incomes in the $150k-250k range, with 298 originations. The second most popular income band? $100k-150k, with 247 originations.
Applicant Debt to Income Ratio
Cornerstone Mortgage Partners Of Texas L.p. lent most frequently to those with DTI ratios of 30-36%, with 142 originations. The next most common DTI ratio? 20-30%, with 111 originations.
Approval RatesTotal approvals of all applications
Cornerstone Mortgage Partners Of Texas L.p. has an average approval rate.
Pick RateApprovals leading to origination
Cornerstone Mortgage Partners Of Texas L.p. 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|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|Cornerstone Home Lending Inc.||VA mortgage||Trouble during payment process||1||100.0%|