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Blog Image: 3 Things Lenders Don’t Want to See on Your Bank Statements

3 Things Lenders Don’t Want to See on Your Bank Statements

When you take out a mortgage loan, your lender puts a lot of trust in you to repay the loan. Lenders can do this because they do thorough financial background checks on borrowers before agreeing to lend money. Your interest rate will be based on how credit-worthy you are based on those checks. Examining bank statements is one of the ways lenders check for eligibility.  If you want to have better odds of being approved for a mortgage, before you apply, make sure that your bank accounts do not include these three things in the last two months of statements: 1. Non-Sufficient Fund (NSF) c...

January 1st, 2020 | Refinancing a Home, Preapproval, Credit, Purchasing a Home, 3 Things Lenders Don’t Want to See on Your Bank Statements

Blog Image: Is a Bigger Down Payment Always Better?

Is a Bigger Down Payment Always Better?

In the homebuying process, if you find yourself in the enviable position of having more cash than needed for a minimum down payment, it may be difficult to know just how much you should put down. A larger down payment can bring plenty of benefits, but is it always best to contribute the biggest down payment possible?  First, remember that every loan program has its own down payment requirements. FHA loans for example require a minimum of 3.5% while jumbo loans will require at least 10%. To get a conventional loan without PMI you’ll need 20%. USDA and VA, by contrast, do not requi...

September 25th, 2019 | Purchasing a Home, Preapproval, Mortgage Advice, Is a Bigger Down Payment Always Better?

Blog Image: Can I Get a Mortgage Without a Credit Score?

Can I Get a Mortgage Without a Credit Score?

You need a good credit score to get the best rates on mortgage loans. Less-than-perfect scores will mean higher interest rates and subprime credit scores will make borrowing money very expensive. But what if you have no credit score at all? Is it possible to get a mortgage without a credit score?  The Credit Score-free Population According to the Consumer Financial Protection Bureau (CFPB), there are approximately 26 million American adults without a credit history and another 19 million whose credit histories are too outdated or limited to be scored with the traditional methods by ...

September 18th, 2019 | Preapproval, Purchasing a Home, Credit, Can I Get a Mortgage Without a Credit Score?

Blog Image: The Essential Pre-Home Search Step

The Essential Pre-Home Search Step

You have been saving to buy a home for a while and you are curious to see what’s out there. A quick internet search turns up a few intriguing properties. You start dreaming of what your life would could be like in those homes. Before you run out and book a real estate agent to show you around, there is one essential step you should take: line up your mortgage funding. While that might seem premature when you’re just in the “looking” phase, getting pre-approved for a mortgage is the best way to start a search. Here’s why you should get pre-approved for a mortgag...

May 15th, 2019 | Purchasing a Home, Preapproval, Pre-qualification, The Essential Pre-Home Search Step

Blog Image: How to Calculate Your Debt-to-Income Ratio

How to Calculate Your Debt-to-Income Ratio

When you are ready to apply for a mortgage loan, your lender will ask you for all sorts of financial information. One of the things lenders do with this data is to calculate your debt-to-income (DTI) ratio. A DTI ratio is one of the most basic methods lenders use to determine how much of a monthly mortgage payment you can afford.  You can calculate this number before talking to a lender so that there will be no surprises about how much you might expect to borrow. First, total all your monthly liabilities – including the potential housing payment - and divide that number by your g...

April 17th, 2019 | Credit, Fixed Rate Mortgages, Conventional Loans, Preapproval, How to Calculate Your Debt-to-Income Ratio

Blog Image: First-time Homebuyers should avoid these 5 Mistakes

First-time Homebuyers should avoid these 5 Mistakes

Buying a home for the first time is a very exciting adventure, but as with any new experience it can be easy to make plenty of mistakes. In order to make a satisfying purchase, try to avoid these 5 big first-timer blunders. 1. Get Pre-Approved before looking for a home If you are truly ready to make a home purchase, start with first things first. Contact Cornerstone Equity Group, Inc. to get pre-approved for a mortgage. This will give you a good idea of how much home you can afford and it will make you a viable buyer when you find the right house. Otherwise, you run the risk of falling in love with...

January 16th, 2019 | Purchasing a Home, First-time Homebuyers, Preapproval, First-time Homebuyers should avoid these 5 Mistakes

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Cornerstone Mortgage

MAIN OFFICE:
5940 S. Rainbow Blvd., Suite 201
Las Vegas, NV 89118
(702) 840-1500
NMLS ID 340311
NV: DML License: 4814
CA: DBO License: 60DBO100130
CA: DRE License: 01848420

NEVADA:
5940 S. Rainbow Blvd., Suite 201
Las Vegas, NV 89118
(702) 840-1500
NMLS ID 340311
NV: DML License: 4814
CA: DBO License: 60DBO100130
CA: DRE License 01848420

CALIFORNIA:
1500 Standiford Ave., Suite A1
Modesto, CA 95350
(209) 578-9000
NMLS ID: 1741490
CalDRE License: 01848420

319 E. Mian St.
Turlock, CA 95382
(209) 633-3222
NMLS ID: 1739798
CalDBO License: 60DBO100691
CalDRE License: 01848420

HAWAII:
91-110 Hanua St., Suite 201
Kapolei, HI 96707
(808) 784-1239
NMLS ID: 1669660
HI: MLOC Liense HI-340311

Legal

Cornerstone Equity Group, Inc., dba Cornerstone Mortgage is an equal opportunity lender.

Nationwide Multistate Licensing System (NMLS) ID: 340311. Additional NMLS branch licenses: 1739798, 1741490, 1669660.

Cornerstone Equity Group, Inc., dba Cornerstone Mortgage is licensed by the Nevada Division of Mortgage Lending, license number 4814.

Cornerstone Equity Group, Inc., dba Cornerstone Mortgage is licensed by the California Department of Corporations under the Residential Mortgage Lending Act and Finance Lenders Law. CA Finance Lender #60DBO100130.

Cornerstone Equity Group, Inc., dba Cornerstone Mortgage is licensed by the California Department of Real Estate, License number 01848420.

Cornerstone Equity Group, Inc., dba Cornerstone Mortgage is licensed as a Mortgage Loan Originator Company by the Hawaii Department of Commerce and Consumer Affairs, license number HI-340311.

Any concerns, complaints or suspicions regarding the misuse of any personal data should be directed to our Operations Manager by telephone at (702) 780-1500 or by email at admin@cornerstone.us.com.