Refinance and Debt Consolidation Loans:
Whether you’re looking to refinance to improve your monthly payments, consolidate debt, or unlock your home’s equity for a home improvement project or major purchase Cornerstone can help. With rates on the rise, you may wish to refinance your adjustable rate mortgage to a more stable fixed rate mortgage. Perhaps you’re having difficulty paying revolving and installment debt and wish to consolidate debt to improve monthly cash flow. Maybe the time has come to finish that room above the garage. There are many reasons people choose to refinance their homes and we can help you decide which options make the most sense for your specific needs. Our loan officers will take a number of factors into consideration when helping you decide which option best suits your situation. For help in tailoring a loan program specific to your family’s needs contact one of our Loan Officers today!

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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Debt Consolidation Loans
Cornerstone offers several programs that allows borrowers to consolidate debt and substantially lower monthly payments.
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Cash-Out Refinance Loans
Unlock your home's equity with a cash-out refinance loan. Receive cash-out for any purpose.
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Home Improvement Loans
Time for that new kitchen or bath? Maybe you're ready to finally add that two-car garage? We offer several programs designed to aid homeowners with home improvement projects by tapping into your home's equity.
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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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Refinance 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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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 including cash-out for any purpose and rate/term reduction.
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Second/Vacation Home Loans
Cornerstone offers several refinance programs for year-round second/vacation homes as well as seasonal properties. Programs include cash-out for any purpose and rate/term reduction.
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Investment/Rental Unit Property Loans
Several refinance options are available for 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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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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Interest Rate Reduction Loans
Refinancing when interest rates fall can greatly reduce your monthly payment and/or the term of your loan.
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Veteran Affairs Refinance 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 tax advantage loan programs which feature no mortgage insurance options. 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 Refinance Loans
Cornerstone offers no closing cost option mortgage loans where the lender pays a portion or all of your closing costs. These loans typically 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 to be confused with “rolling in” your closing costs. With this program closing costs are eliminated, not financed into the loan amount.
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Construction/Rehabilitiation 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. We also offer financing options for borrowers interested in rehabbing property currently owned or a property not yet purchased.
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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 to get you back on track and begin repairing your overall credit profile.
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