Cornerstone Bank Mortgage Rates, Fees & Info
York, NELEI: 549300MNVXT92RBYBF93
Tax ID: 47-0341288
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Mortgage Data
Review & Overview
Cornerstone Bank is a smaller bank specializing in Home Purchase and Refi loans. Cornerstone Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, Grand Island, Kearney, Lincoln, and Fremont among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Cornerstone Bank 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.21% | 11/17/24 |
| 30 Year Conventional Refi | 6.13% | 11/17/24 |
| 30 Year Cash-out Refi | 6.77% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 7.60% | 11/17/24 |
| 15 Year Conventional Refi | 7.31% | 11/17/24 |
| 15 Year Cash-out Refi | 7.31% | 11/17/24 |
| 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 Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
150Origination Dollar Volume (All Markets)
$18,270,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 92 | $8,700,000 | $94,565 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 18 | $2,880,000 | $160,000 | $0 | 0.00% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 12 | $2,260,000 | $188,333 | $0 | 0.00% |
| Kearney, NE (FHA|USDA|VA) | 8 | $1,710,000 | $213,750 | $0 | 0.00% |
| LINCOLN, NE (FHA|USDA|VA) | 6 | $900,000 | $150,000 | $0 | 0.00% |
| Fremont, NE (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Hastings, NE (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 0.00% |
| Columbus, NE (FHA|USDA|VA) | 5 | $185,000 | $37,000 | $0 | 0.00% |
| Norfolk, NE (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 149 | $18,255,000 | $122,517 | $0 | 0.00% |
| USDA | 1 | $15,000 | $15,000 | $0 | 0.00% |
For 2023, Cornerstone Bank's most frequently originated type of loan was Conventional, with 149 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2023, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 150 | $18,270,000 | $121,800 | $0 | 0.00% |
For 2023, Cornerstone Bank's most frequently cited loan duration was Other, with 150 originations.
Loan Sizing
2023 saw Cornerstone Bank place emphasis on $100,000 or less loans with 94 originations, totaling $4,120,000 in origination value.
Applicant Income
Cornerstone Bank lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $75k-100k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 150 | $18,270,000 | $121,800 | $0 | 0.00% |
Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 150 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.34%
Cornerstone Bank has an average approval rate.
Pick Rate
Approvals leading to origination71.33%
Cornerstone Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 150 | $18,270,000 | $121,800 |