Cornerstone Mortgage Partners Of Texas L.p. Rates, Fees & Info

HOUSTON, TX

LEI: 549300ESJ15K604ZW846

Tax ID: 20-5113139

Latest/2024 | 2023 Data | 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
  • Similar Lenders
  • 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 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 an average proportion of FHA loans. Their top markets by origination volume include: Houston, Austin, Dallas, San Antonio, and Killeen 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 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.

    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

    564

    Origination Dollar Volume (All Markets)

    $268,620,000
    Show all (8) awards

    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
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 207 $88,975,000 $429,831 $8,477 6.43%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 142 $73,860,000 $520,141 $6,190 6.65%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 112 $62,650,000 $559,375 $8,840 6.28%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 102 $42,950,000 $421,078 $8,444 5.78%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $185,000 $185,000 $8,058 6.75%
    Cornerstone Mortgage Partners Of Texas L.p.'s top markets include Houston, Austin, Dallas, San Antonio, and Killeen among others.

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

    • Similar Lenders

    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.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 770
    Generations Community Federal Credit Union
    Similarity Rank: 824
    DATCU
    Similarity Rank: 981
    PRIMEWAY
    Similarity Rank: 1048
    HOMEWAY MORTGAGE LLC
    Similarity Rank: 1050

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 447 $210,145,000 $470,123 $7,088 6.44%
    VA 71 $40,065,000 $564,296 $8,619 5.77%
    FHA 46 $18,410,000 $400,217 $15,473 6.26%

    For 2023, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently originated type of loan was Conventional, with 447 originations. Their 2nd most popular type was VA, with 71 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 564 $268,620,000 $476,277 $7,971 6.34%

    For 2023, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently cited loan purpose was Home Purchase, with 564 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 506 $248,710,000 $491,522 $8,238 6.41%
    15 Year 47 $16,285,000 $346,489 $5,814 5.45%
    20 Year 8 $2,730,000 $341,250 $4,108 6.75%
    10 Year 3 $895,000 $298,333 $5,997 6.17%

    For 2023, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently cited loan duration was 30 Year, with 506 originations. The 2nd most popular length was 15 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 245 $114,705,000 $468,184
    $5k+ 181 $89,485,000 $494,392
    $1k-2k 63 $30,045,000 $476,905
    $4k-5k 27 $11,805,000 $437,222
    $3k-4k 24 $11,820,000 $492,500
    $2k-3k 19 $8,945,000 $470,789

    Cornerstone Mortgage Partners Of Texas L.p.'s average total fees were $8,238, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 245 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 217 $103,715,000 $477,949
    5-6% 178 $83,310,000 $468,034
    7-8% 106 $53,200,000 $501,887
    4-5% 44 $20,140,000 $457,727
    Over 8% 14 $6,590,000 $470,714
    3-4% 5 $1,665,000 $333,000

    During 2023, Cornerstone Mortgage Partners Of Texas L.p.'s average interest rate for loans was 6.41%, while their most frequently originated rate bucket for loans was 6-7%, with 217 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 243 $121,565,000 $500,267 $8,803 6.31%
    $200k-400k 167 $53,655,000 $321,287 $7,054 6.29%
    $600k-1MM 128 $89,460,000 $698,906 $8,736 6.49%
    $100k-200k 26 $3,940,000 $151,538 $1,989 6.09%

    2023 saw Cornerstone Mortgage Partners Of Texas L.p. place emphasis on $400k-600k loans with 243 originations, totaling $121,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 254 $129,660,000 $510,472 $8,329 6.33%
    $100k-150k 148 $59,040,000 $398,919 $8,262 6.31%
    $250k+ 110 $65,060,000 $591,455 $7,884 6.43%
    $75k-100k 36 $11,150,000 $309,722 $5,603 6.26%
    $50k-75k 14 $3,240,000 $231,429 $5,095 6.10%
    $50k or less 2 $470,000 $235,000 $7,384 7.25%

    Cornerstone Mortgage Partners Of Texas L.p. lent most frequently to those with incomes in the $150k-250k range, with 254 originations. The second most popular income band? $100k-150k, with 148 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 79 $35,745,000 $452,468 $6,174 6.31%
    20-30% 73 $30,235,000 $414,178 $5,785 6.12%
    49% 42 $21,200,000 $504,762 $7,194 6.57%
    48% 37 $18,755,000 $506,892 $9,931 6.47%
    50-60% 34 $17,090,000 $502,647 $12,455 6.09%
    47% 31 $14,835,000 $478,548 $11,570 6.50%
    43% 29 $14,875,000 $512,931 $8,986 6.43%
    44% 26 $14,470,000 $556,538 $9,966 6.28%
    46% 24 $11,420,000 $475,833 $6,711 6.42%
    45% 23 $12,305,000 $535,000 $8,615 6.58%
    38% 23 $10,615,000 $461,522 $7,942 6.75%
    39% 22 $10,690,000 $485,909 $4,619 6.45%
    37% 22 $10,810,000 $491,364 $8,514 6.40%
    <20% 21 $7,175,000 $341,667 $6,291 5.64%
    42% 21 $10,775,000 $513,095 $6,485 6.38%
    41% 19 $8,185,000 $430,789 $6,115 6.18%
    36% 17 $8,335,000 $490,294 $8,442 6.23%
    40% 16 $8,430,000 $526,875 $10,814 6.76%
    >60% 5 $2,675,000 $535,000 $16,668 5.65%

    Cornerstone Mortgage Partners Of Texas L.p. lent most frequently to those with DTI ratios of 30-36%, with 79 originations. The next most common DTI ratio? 20-30%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 246 $110,690,000 $449,959 $8,279 6.27%
    Asian 125 $64,755,000 $518,040 $7,300 6.65%
    Black 81 $40,535,000 $500,432 $8,719 6.36%
    Not provided 54 $24,810,000 $459,444 $7,863 6.10%
    Asian Indian 27 $14,225,000 $526,852 $6,938 6.05%
    American Indian 15 $6,575,000 $438,333 $9,267 6.38%
    Other Asian 5 $2,355,000 $471,000 $5,796 6.40%
    Other Pacific Islander 2 $1,060,000 $530,000 $352 6.00%
    Vietnamese 3 $1,015,000 $338,333 $6,321 5.92%
    Japanese 2 $750,000 $375,000 $6,134 6.25%
    Filipino 1 $495,000 $495,000 $0 6.75%
    Korean 1 $475,000 $475,000 $11,399 5.88%
    Guamanian 1 $445,000 $445,000 $17,156 4.63%
    Native Hawaiian or Islander 1 $435,000 $435,000 $322 5.50%

    Approval Rates

    Total approvals of all applications
    95.77%

    Cornerstone Mortgage Partners Of Texas L.p. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    55.50%

    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
    NA 564 $268,620,000 $476,277

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    564 $268,620,000 $476,277

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $5,445,000 $187,759 $1,523 6.01%
    40-60% 52 $18,420,000 $354,231 $6,353 5.91%
    60-80% 143 $69,935,000 $489,056 $7,572 6.33%
    80-100% 332 $171,230,000 $515,753 $8,706 6.45%
    Over 100% 6 $3,330,000 $555,000 $23,846 5.33%
    Under 20% 2 $260,000 $130,000 $1,014 6.69%