Cornerstone Mortgage Solutions is a company that offers buyers a chance to finance a home. Mortgages are complicated and stressful for many, but they’re necessary for most buyers. Applying for a mortgage is the only way many buyers can afford to purchase a home. It’s the single most expensive purchase most consumers make in their lifetime, which means financial assistance in the form of monthly payments is a necessity. When it’s time to find a mortgage lender, many people forget to check with smaller companies. They offer more personalized service, more customer service, and the same low rates as the more nationally-known lenders.
Anyone can apply for a Cornerstone Mortgage with so many options available to buyers. Your financial situation determines what you can afford, from the rates you lock into the type of house in your price range. It also determines the type of mortgage you can afford, and that’s why Cornerstone offers so much different loans options for buyers.
- Fixed rate mortgages for those who want the same monthly payment over the entire course of their loan.
- Jumbo loans for buyers who want to buy a home that costs more than $417,000.
- VA loans for those who do or have served in the US armed forces.
- Conforming loans for those who want to finance a home as per the rules and regulations in place by Freddie Mac and Fannie Mae.
- RHS loan programs for those buyers who live on a low or moderate income and want to own a home in a rural location.
- FHA loans for those who cannot afford to pay 20% of the value of the home you want to purchase.
Since Cornerstone is a Florida company, the company also offers specialized loans for those who live and work in Florida. There is no limit to who can buy a home in Florida or anywhere else with a Cornerstone Mortgage so long as their income and credit score meets the standard requirements.
Rates with Cornerstone
The most important question people ask when it comes to a mortgage application is their rate. The rate you pay determines the payment amount you face each month, and it determines how much you can afford to borrow for a home. The only way to find out the rate you qualify for is to fill out an application for a preapproval.
It’s not going to be the mortgage you receive, but this application does lock in the rate you will pay with a formal mortgage if you can find a home and close in 60 days or less. Pre-approval makes it simpler to buy a home since you do know what you can afford, and because you are able to find sellers more willing to accept offers from you with a pre-approval.
If you are a buyer looking for a home that’s more expensive than most, you’ll find sellers aren’t as likely to allow you to even tour their home without a pre-approval and/or proof of funds. It’s just a good idea to pre-qualify before you look for a home.
Smaller lenders aren’t more expensive all the time, and they’re not less reputable. Buyers love working with smaller lenders because they work more personally with their clients and make the entire experience more enjoyable from the start of the process. Cornerstone might not be a national bank with low rates plastered all over television and billboards, but that’s no reason to discount their rates and terms when you’re comparing mortgages.