Cornerstone Mortgage Interest Rate and Cost Review

Is Cornerstone Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Cornerstone Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Cornerstone Mortgage nationally:

Review ItemCornerstone Mortgage
Interest Ratesimilar to other lenders (-0.04%)
Loan Related Closing Costssimilar to other lenders (-$7)
National Rate and Closing Cost Star Rating(3.5)

On average, Cornerstone Mortgage’s interest rates were similar to those of other lenders (-0.04%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$7. Overall, combining interest rates and closing costs we estimate that Cornerstone Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Cornerstone Mortgage, its website is located at: https://www.cornerstonemortgage.com.

Cornerstone Mortgage’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Cornerstone Mortgage was most active in:

  1. Houston, TX
  2. Austin, TX
  3. Dallas, TX
  4. San Antonio, TX
  5. Frisco, TX

Cornerstone Mortgage’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Cornerstone Mortgage originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAVA
Interest Rate Difference-0.04%+0.02%-0.02%
Loan Related Closing Cost Difference+$37-$118-$168
Cost Adjusted Rate Difference-0.05%+0.02%-0.03%
National Star Rating(3.5)(3.5)(3.5)
Refinance MortgagesConformingVA
Interest Rate Difference-0.01%+0.00%
Loan Related Closing Cost Difference-$12+$19
Cost Adjusted Rate Difference-0.01%+0.00%
Average Star Rating(3.5)(3.5)

As a summary, Cornerstone Mortgage is similar to other lenders for Conforming, FHA and VA purchase mortgages. For refinancing mortgages, Cornerstone Mortgage is similar to other lenders for Conforming and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Cornerstone Mortgage:

Registered name: Cornerstone Mtg Partners Of T
Registered city and state: HOUSTON, TX, 77027
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Cornerstone Mortgage’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.