Cornerstone Mortgage Rates, Fees & Info

CHESTERFIELD, MO

LEI: 549300T3ZIPMLYDHGG12

Tax ID: 43-1743210

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
  • Complaints
  • 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 is a smaller mortgage company specializing in Home Purchase loans. Cornerstone Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Kansas City, Warrensburg, Farmington, and Chicago among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cornerstone Mortgage 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 is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    920

    Origination Dollar Volume (All Markets)

    $182,990,000
    Show all (14) 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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 638 $123,740,000 $193,950 $3,676 4.32%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 111 $25,865,000 $233,018 $3,670 4.40%
    Outside of Metro Areas 45 $5,145,000 $114,333 $3,704 4.51%
    Warrensburg, MO (FHA|USDA|VA) 26 $4,350,000 $167,308 $5,256 4.08%
    Farmington, MO (FHA|USDA|VA) 24 $3,290,000 $137,083 $4,635 4.51%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 8 $2,550,000 $318,750 $5,689 4.11%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 8 $2,550,000 $318,750 $4,988 4.09%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $2,040,000 $255,000 $5,942 3.97%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,725,000 $575,000 $2,766 3.92%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $1,175,000 $391,667 $5,344 4.13%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,080,000 $540,000 $19,264 4.13%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $1,050,000 $525,000 $4,919 3.88%
    BLOOMINGTON, IL (FHA|USDA|VA) 6 $970,000 $161,667 $3,928 4.44%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $925,000 $308,333 $7,618 3.67%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $620,000 $310,000 $8,764 3.69%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $520,000 $260,000 $3,424 4.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $480,000 $240,000 $3,137 4.25%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $465,000 $465,000 $0 4.25%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,752 3.88%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 2 $370,000 $185,000 $5,550 4.50%
    SPRINGFIELD, MO (FHA|USDA|VA) 2 $360,000 $180,000 $4,104 4.63%
    WICHITA, KS (FHA|USDA|VA) 3 $355,000 $118,333 $2,472 4.54%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $345,000 $345,000 $4,294 4.50%
    TOPEKA, KS (FHA|USDA|VA) 2 $290,000 $145,000 $2,775 4.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $270,000 $135,000 $4,168 4.25%
    Sedalia, MO (FHA|USDA|VA) 1 $245,000 $245,000 $7,029 4.25%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $235,000 $235,000 $2,989 4.00%
    Lebanon, MO (FHA|USDA|VA) 1 $215,000 $215,000 $2,363 4.25%
    Poplar Bluff, MO (FHA|USDA|VA) 1 $195,000 $195,000 $5,911 4.38%
    AMARILLO, TX (FHA|USDA|VA) 1 $185,000 $185,000 $5,356 4.00%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $165,000 $165,000 $3,322 3.88%
    LAREDO, TX (FHA|USDA|VA) 1 $165,000 $165,000 $5,703 4.99%
    JEFFERSON CITY, MO (FHA|USDA|VA) 1 $135,000 $135,000 $5,665 4.75%
    Ottawa, KS (FHA|USDA|VA) 1 $135,000 $135,000 $3,888 3.99%
    West Plains, MO (FHA|USDA|VA) 1 $125,000 $125,000 $3,535 4.50%
    Rolla, MO (FHA|USDA|VA) 1 $105,000 $105,000 $2,126 4.38%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,469 3.63%
    Lincoln, IL (FHA|USDA|VA) 1 $65,000 $65,000 $3,332 4.75%
    Cornerstone Mortgage's top markets include St. Louis, Kansas City, Warrensburg, Farmington, and Chicago among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against CORNERSTONE MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 68
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 100
    Community Bank of Trenton
    Similarity Rank: 108
    KCB Bank
    Similarity Rank: 108
    Citizens Savings and Loan Association, FSB
    Similarity Rank: 146
    Clay County Savings Bank
    Similarity Rank: 148
    First National Bank of Waterloo
    Similarity Rank: 200
    RELIANCE BANK
    Similarity Rank: 238
    CapGrow Home Mortgage, LLC
    Similarity Rank: 272
    JERSEY STATE BANK
    Similarity Rank: 354

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 550 $121,830,000 $221,509 $2,955 4.36%
    FHA 215 $32,185,000 $149,698 $5,152 4.32%
    VA 87 $20,095,000 $230,977 $6,384 4.11%
    USDA 68 $8,880,000 $130,588 $3,891 4.35%

    For 2018, Cornerstone Mortgage's most frequently originated type of loan was Conventional, with 550 originations. Their 2nd most popular type was FHA, with 215 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 719 $138,275,000 $192,316 $4,164 4.35%
    Refi 104 $24,930,000 $239,712 $2,566 4.17%
    Cash Out Refi 92 $19,020,000 $206,739 $3,046 4.30%
    Other 3 $435,000 $145,000 $1,799 4.54%
    Home Improvement 2 $330,000 $165,000 $3,389 4.56%

    For 2018, Cornerstone Mortgage's most frequently cited loan purpose was Home Purchase, with 719 originations. The 2nd most popular reason was Refi, with 104 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 841 $169,165,000 $201,147 $3,989 4.36%
    15 Year 49 $7,745,000 $158,061 $2,415 3.90%
    20 Year 21 $4,655,000 $221,667 $2,789 4.14%
    10 Year 6 $860,000 $143,333 $2,115 4.04%
    Other 3 $565,000 $188,333 $3,142 4.04%

    For 2018, Cornerstone Mortgage's most frequently cited loan duration was 30 Year, with 841 originations. The 2nd most popular length was 15 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 801 $162,615,000 $203,015
    $1k-2k 77 $12,445,000 $161,623
    $2k-3k 26 $4,540,000 $174,615
    $3k-4k 11 $2,105,000 $191,364
    $5k+ 2 $650,000 $325,000
    $4k-5k 1 $115,000 $115,000

    Cornerstone Mortgage's average total fees were $3,989, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 801 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 597 $113,135,000 $189,506
    3-4% 272 $62,630,000 $230,257
    5-6% 51 $7,225,000 $141,667

    During 2018, Cornerstone Mortgage's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 597 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 436 $64,630,000 $148,234 $3,845 4.32%
    $200k-400k 287 $77,745,000 $270,889 $4,164 4.27%
    $100,000 or less 139 $10,705,000 $77,014 $2,974 4.53%
    $400k-600k 47 $22,175,000 $471,809 $4,965 4.21%
    $600k-1MM 11 $7,735,000 $703,182 $3,385 4.02%

    2018 saw Cornerstone Mortgage place emphasis on $100k-200k loans with 436 originations, totaling $64,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 251 $40,395,000 $160,936 $3,850 4.35%
    $50k or less 238 $27,720,000 $116,471 $3,635 4.41%
    $100k-150k 173 $43,955,000 $254,075 $3,709 4.30%
    $75k-100k 146 $30,800,000 $210,959 $4,414 4.29%
    $150k-250k 85 $27,245,000 $320,529 $4,156 4.21%
    $250k+ 27 $12,875,000 $476,852 $3,125 4.15%

    Cornerstone Mortgage lent most frequently to those with incomes in the $50k-75k range, with 251 originations. The second most popular income band? $50k or less, with 238 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 184 $39,440,000 $214,348 $3,496 4.35%
    30-36% 173 $34,825,000 $201,301 $4,010 4.27%
    <20% 65 $13,115,000 $201,769 $3,048 4.22%
    50-60% 53 $10,185,000 $192,170 $5,035 4.26%
    39% 44 $7,970,000 $181,136 $3,424 4.31%
    38% 42 $7,660,000 $182,381 $3,615 4.29%
    49% 37 $6,265,000 $169,324 $4,079 4.35%
    44% 36 $7,640,000 $212,222 $4,532 4.41%
    37% 36 $6,300,000 $175,000 $4,258 4.37%
    41% 36 $6,730,000 $186,944 $3,670 4.44%
    43% 32 $5,990,000 $187,188 $3,760 4.36%
    42% 31 $5,425,000 $175,000 $3,734 4.34%
    36% 31 $6,765,000 $218,226 $3,417 4.37%
    40% 29 $5,615,000 $193,621 $3,453 4.31%
    46% 25 $5,655,000 $226,200 $4,958 4.31%
    45% 24 $4,360,000 $181,667 $4,518 4.39%
    48% 21 $4,285,000 $204,048 $4,098 4.52%
    47% 20 $4,250,000 $212,500 $4,266 4.41%
    >60% 1 $515,000 $515,000 $4,537 4.25%

    Cornerstone Mortgage lent most frequently to those with DTI ratios of 20-30%, with 184 originations. The next most common DTI ratio? 30-36%, with 173 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 812 $159,180,000 $196,034 $3,794 4.33%
    Not provided 57 $12,765,000 $223,947 $4,356 4.32%
    Asian 19 $5,405,000 $284,474 $4,301 4.27%
    Black 30 $4,840,000 $161,333 $4,502 4.45%
    Asian Indian 1 $675,000 $675,000 $3,083 3.88%
    American Indian 1 $125,000 $125,000 $6,098 3.75%

    Approval Rates

    Total approvals of all applications
    96.37%

    Cornerstone Mortgage 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
    70.54%

    Cornerstone Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 920 $182,990,000 $198,902

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 16 $1,670,000 $104,375
    Single Family (1-4 Units):Site-Built 904 $181,320,000 $200,575

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,770,000 $147,500 $2,130 3.99%
    40-60% 12 $3,560,000 $296,667 $2,786 3.93%
    60-80% 86 $20,210,000 $235,000 $2,770 4.16%
    80-100% 204 $39,080,000 $191,569 $4,199 4.14%
    Over 100% 5 $905,000 $181,000 $7,128 3.75%
    Under 20% 1 $95,000 $95,000 $2,038 3.50%

    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%