Purchase Loans:
Purchasing a new home is a large financial undertaking for most people. It can be exciting as well as quite scary for many. Our goal is to have our borrowers feel as comfortable and informed as possible to allay any fears and avoid unnecessary stress which can sometimes be associated with a home purchase. Cornerstone Home Loans employs knowledgeable, creative, and aggressive loan officers that we feel have demonstrated an exceptional level of performance in the field of mortgage banking. Your loan officer will guide you through each step regardless of whether you’re working on your first purchase or your tenth. Cornerstone offers a variety of purchase loan programs which can be tailored to your specific needs.

Here are just a few programs we offer:

Conventional Loans
Traditional mortgage loans that offer competitive rates and generally require full documentation and a fair to good credit history.
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Zero Down Loans
Cornerstone offers several zero down options, including 100% first mortgage options as well as combination loans to avoid mortgage insurance. Seller concessions are also allowed which may cover all of your closing costs.
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Stated Income Loans
Cornerstone has several stated income loan programs available. Stated income loans are designed for the borrower that may have difficulty in providing documentation of earnings. Wage earners and self-employed borrowers can qualify. Income is stated on the application, but not verified. Stated income loans offer more competitive rates over complete “no doc” loans.
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No Asset Verification Loans
Cornerstone also offers several no asset verification loan programs. No asset verification loans are designed for the borrower that may have difficulty in providing documentation of assets. Wage earners and self-employed borrowers can qualify. Assets may be stated or absent from the application, but are not verified.
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No Documentation Loans
No documentation loans offer several features, and may include no employment verification, no income verification, no asset verification or any combination of the three. Wage earners and self-employed borrowers can qualify. This type of loan usually requires a good to excellent credit history.
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Interest-Only Payment Loans
Many of our loan programs feature an interest-only option. This feature allows homebuyers to enter homeownership with more affordable payments for a set period or time before full payment amortization. This feature is also popular among savvy investors and financial gurus.
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Jumbo Mortgage Loans
Cornerstone offers several jumbo mortgage options as well as jumbo loan size alternatives that may offer better rates. Jumbo loans are loans that exceed standard conventional loan size limits. (for single family residences, this is any loan greater than $417,000). We offer several jumbo loan programs which include stated income, no asset verification, as well as no documentation features. Wage earners and self-employed borrowers can qualify. Our jumbo loans are offered in a variety of programs including 30 or 15 year fixed rate products as well as adjustable rate and interest-only payment options.
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First-Time Homebuyer Loans
Our first-time homebuyer loans feature considerable flexibility and offer low and zero down payment options. These loans also feature the ability to finance closing costs minimizing cash out of pocket. Let one of our experienced loan officers show you how easy and affordable homeownership can be.
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Primary Home Loans
Cornerstone offers a multitude of loan options for owner-occupied properties. Programs are available for all types of borrowers, property types, and documentation levels. These programs can be paired with special loan features and can be tailored to fit your specific needs.
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Second/Vacation Home Loans
Cornerstone offers several programs for year-round second/vacation homes as well as seasonal properties.
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Investment Property Loans
Whether you’re looking to enter the investment property arena or you’re seasoned professional with several properties we can help. We offer many competitive programs that cater to the 1-4 unit residential real estate investors. These loans can be combined with special features such as stated income, no asset verification, no documentation, and flexible payment options including adjustable rate programs and interest-only payments.
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Veteran Affairs Loans
Loans designed for veterans and military personnel. Backed by the Veterans Administration, this program offers features such as no down payment requirements and closing cost assistance.
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Tax Advantage Loans (no mortgage insurance w/ less than 20% down)
Available are several loan programs which feature tax advantages over traditional financing with mortgage insurance. Cornerstone offers borrowers options such as combination or “piggy-back” loans, financed mortgage insurance feature loans, and lender paid mortgage insurance loans.
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80/20, 80/15/5, 80/10/10 Piggy-Back Combo Loans
Combination loans designed to eliminate the need for mortgage insurance or avoid jumbo loan size pricing. This type of loan consists of two mortgage loans and often times features lower payments over single loans with mortgage insurance. We have combination loan programs that offer zero to 10% down options.
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No Closing Costs Loans
Cornerstone offers no closing cost option loans where the lender pays some or all of your closing costs. These loans generally have a slightly higher interest rate and make most sense for borrowers who plan to keep the property being financed for a relatively short period of time. This feature is not the same as including or “rolling in” your closing costs. With this program closing costs are eliminated, not financed into the loan amount.
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Bridge Loans
A bridge loan may be the right choice for the borrower who is purchasing and closing on a home prior to your existing home selling. We have several bridge options available for borrowers who may be in this situation.
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Construction Loans
Cornerstone offers several options for the new construction borrower. Our construction loans are based on final completion (appraised) value and are locally approved, funded, and serviced.
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Programs for all Credit Types
We offer many options for borrowers with slightly damaged to severely damaged credit including bankruptcy. We understand that bad things happen to good people. At Cornerstone, you can apply with confidence knowing that you will never be judged. Our loan officers can provide you with options available now as well as offer solutions and guidance for repairing your credit.
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