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Cornerstone Home Lending is accredited with the Better Business Bureau. As of July 2022, it has an A+ rating for closing 52 complaints in the last three years and a 3.18 star out of 5 customer rating from 28 reviews. Cornerstone offers loans through its parent company, Xenith Bank, with special requirements that allow the lender to consider borrowers on a case-by-case basis.
As a summary, Cornerstone Home Lending is similar to other lenders for Conforming, USDA and VA purchase mortgages. It is more expensive than other lenders for FHA and Jumbo purchase mortgages. For refinancing, Cornerstone Home Lending is similar to other lenders for Conforming, FHA, Jumbo, USDA 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.
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For Cornerstone, the application process starts with a prequalification. Streamline your mortgage from quote to final payment — all from your computer or phone.
On the Zillow website, Cornerstone Home Lending has received an impressive 4.96 out of 5 rating from over 3,200 customers as of July 2022. Customers rave about attentive and professional service from loan officers at the company, including many first-time homebuyers and refinancers. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation.
Cornerstone Home Lending is not currently available on Finder
While company reviews are overwhelmingly positive, some customers have complained of difficulties in contacting customer service after their loan closed. Other complaints report an outdated online payments system. Many of the Zillow reviews indicated a lower mortgage rate than expected, while many said the closing costs were as expected.
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.
Cornerstone Home Lending, Inc. Offers
It’s unclear if you can actually apply for a mortgage on your own, which is often an option with the most tech-savvy mortgage lenders these days. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider's site. Cornerstone offers cash-out refinance options but no home equity loans or lines of credit. According to anonymously submitted Glassdoor reviews, Cornerstone Home Lending employees rate their compensation and benefits as 4.1 out of 5.
There are literally thousands of mortgage lenders out there to choose from, so put in the time if you want a great rate with low closing costs. This lender doesn’t advertise its mortgage rates or lender fees, which means you have to contact a loan officer to research what kind of loans are available to you. In late April I sent two checks to this mortgage company.
Cornerstone Home Lending
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A good chunk of their total production consisted of conventional home loans (60%), with another 15% FHA loans, 13% jumbo loans, and 11% VA. While there are a lot of new faces and startups in the mortgage industry, few companies have stood the test of time, especially with the Great Recession rearing its ugly head in the early 2000s. Use the LoanFly mobile app to prequalify and access loan updates during the process. They help us in every step and doubt that we had in the process.
Information is displayed first and foremost for the benefit of consumers. 87% of Cornerstone Home Lending employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Cornerstone Home Lending 4.5 out of 5 for work life balance, 4.6 for culture and values and 4.2 for career opportunities. On BirdEye, they’ve got a 4.9-star rating based on about 800 reviews, so they seem to be consistently highly-rated. This is helpful with large mortgage companies that have tons of employees since experiences can vary greatly from one loan officer to the next. First off, they’ve got incredible reviews on Zillow, with a 4.96-star rating out of 5 based on feedback from nearly 2,500 past customers.
Based in Houston and founded in 1988 by Chairman and CEO, Marc Laird, we are a unique mortgage bank with thousands of highly-satisfied... This is a tough market for home lending, but the financial strength of our company will get us through this industry cycle. There are so many Pros about Cornerstone the list goes on and on. The work enviroment , the salary, the on and offsite events, the food, the management, the location, the hours, the open door policy, the ongoing training, the cleanliness. The peace, no corporate politics, no favoritism, the diversity.I can say if you have a heart to serve other with kindness and respect. What’s the best way to have a lack of compensation and incentive conversation in your department?
If you want to save big on lender fees, consider a 100% digital company like Beeline or Better. Neither charge lender origination fees on their loans and their 24/7 online application process allows for a quicker preapproval decision — to get you house-hunting right away. Cornerstone Home Lending is a regional mortgage lender offering standard and portfolio mortgage options. But you’ll need to contact a loan officer to research the loans available to you since the information on the website is limited. They have a few people there who should not work in any customer service role.
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").
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