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In 2019, Cornerstone Mortgage was acquired by Guild Mortgage. While the original Cornerstone website is still up, you’ll be redirected to Guild Mortgage if you want to apply.
Loan products offered | Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA |
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Minimum down payment | 3% |
State availability | Only available in: CA, FL, IL, KS, MO, OH, SC, TX, UT |
This lender offers a variety of different mortgage types, including:
Conventional loans are available with both fixed and adjustable interest rates and down payments as low as 3%.
Jumbo loans are available for homes up to $3 million, though you’ll need a strong credit score to qualify.
This government backed loan is a good choice for first-time home buyers with middle to low income and offers down payments as low as 3.5%.
VA loans offer qualifying veterans, service members and their families home loans with no down payment required.
If you’re looking to purchase a home in a qualifying rural area, you may be eligible for a USDA loan, which offers low rates with no down payment required. You can use the USDA website to check if your home qualifies.
You can refinance your current mortgage to get a lower interest rate or different loan term. And if you rent your home out on Airbnb, you can use your rental income to help you qualify.
To qualify for a loan with Cornerstone, you’ll need a minimum personal credit score of 620. You’ll also need to make a down payment of at least 3%.
You may be asked to supply the following documentation:
Cornerstone Mortgage is an accredited business with the Better Business Bureau that gives it an A+ rating. Online reviews indicate that its loan officers are frequently recognized for their knowledgeable, personable guidance. But some borrowers suggest that loan processing times can be lengthy and require repeated prodding for loan status updates.
In 2019, Cornerstone Mortgage was purchased by Guild Mortgage, and is transitioning to operate under the Guild Mortgage name. Customer reviews for Guild are mixed, with some customers praising its knowledgeable loan officers and others reporting frustrations with billing and escrow issues.
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
Cornerstone offers a variety of loans from conventional to government-backed options. It seeks put a personal touch on the home loan process by providing loan officers and client support to anticipate the needs of borrowers.
But it only offers service in Missouri, Illinois, California, Ohio, Kansas, Florida, Texas, Utah and South Carolina. Explore your options with lendersif you live outside these states.