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A self-proclaimed word nerd, her writing has been featured on MSN, Credit.com and MediaFeed.org, among others. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She holds a bachelor’s degree in English with a minor in journalism from the University of Nevada, Reno. This lender offers standard and portfolio home loans, but you’ll need to contact a loan officer to learn the details. Cornerstone truly implements its vision, mission, and convictions making a difference in the lives of all team members and those we serve.
They finally got one girl who was amazing and friendly and actually helpful.. They offer both home purchase loans and refinance loans, but it’s unclear if they offer second mortgages or home renovation products. The direct-to-consumer retail lender has more than 30 years of experience doling out home loans to satisfied customers, but also takes the time to embrace new technologies as evidenced by their smartphone app. If you’re building a home, this loan allows your loan to transition to a permanent mortgage once you’re done so you don’t have to pay two sets of closing costs. You can check the profile page of each professional or company to determine whether they are a paying advertiser (indicated by the word "sponsored").
Cornerstone Home Lending Review: Doing Mortgages Since the 1980s
Find out more about salaries and benefits at Cornerstone Home Lending. This rating has decreased by -3% over the last 12 months. Cornerstone Home Lending has an overall rating of 4.4 out of 5, based on over 458 reviews left anonymously by employees. 87% of employees would recommend working at Cornerstone Home Lending to a friend and 80% have a positive outlook for the business. This rating has decreased by -4% over the last 12 months. Cornerstone Home Lending is BBB accredited since 1997 and currently has an A+ BBB rating.
They claim to rank #30 nationally in annual home loan volume, and 10th nationally among independent mortgage companies. As noted, Cornerstone Home Lending, or CHL for short, has been around a while, much longer than the average mortgage company these days. But one mortgage company, Houston, Texas-based Cornerstone Home Lending, has been serving its communities since 1988.
Mortgage guides
However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. This company provides complete real estate loan services. Cornerstone really cares about their employees, you are surrounded by amazing and helpful team members who are always there to jump in and help, whether it's management or your peers. Once in contact with a loan officer, they can walk you through the loan process and answer any additional questions you may have. Most of the loans closed last year were 30-year fixed mortgages, though they also originated 15-year fixed mortgages and 7/1 ARMs as well.
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Cornerstone Home Lending originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
Work at Cornerstone Home Lending? Share Your Experiences
BBB Business Profiles generally cover a three-year reporting period. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. At Cornerstone Home Lending, Inc., you will find a cohesive team of caring, seasoned professionals who are passionately dedicated to making... Cornerstone continues to grow, so it's sometimes difficult to meet and get to know all team members. Great people providing support to the LO's make it easy to get deals through to close.
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In addition, it is not the financial institution’s responsibility to ensure all posts and questions are answered. Glassdoor has 458 Cornerstone Home Lending reviews submitted anonymously by Cornerstone Home Lending employees. Read employee reviews and ratings on Glassdoor to decide if Cornerstone Home Lending is right for you. Additionally, there’s no information regarding lender fees, so we don’t know if they charge a loan origination fee, underwriting fee, and so on.
In their latest full year, they closed about $6 billion in homes, with a home purchase loan share of roughly 72%. Connect with vetted lenders quickly through this free online marketplace. Preapproval in minutes and closing in as little as 3 weeks with no origination fees. While Cornerstone is licensed in 40 states, you have to live in one of the states where Cornerstone is licensed to use its services.
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Cornerstone issues its own preapprovals and processes, underwrites and funds its own mortgages, which can speed up the home-buying process. This lender wants you to have a credit score of at least 640, though prefers 660, and a 5% down payment is required. Currently, Cornerstone also requires that your debt-to-income ratio not exceed 45%. Also, if your down payment is less than 20%, you will need private mortgage insurance. Editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution.
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