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Press Releases

Cornerstone Mortgage, Inc. Welcomes Pam Daley
Cornerstone Mortgage, Inc. is Now Ranked the 17th Fastest Growing Privately-Held Company in the St. Louis Region
Cornerstone Mortgage, Inc. Opens a New Office in Lee's Summit
Cornerstone Mortgage, Inc. Completes 3rd Agency Approval with Freddie Mac
Cornerstone Mortgage, Inc. Announces ProLoan Approval Status
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Glossary

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Hazard Insurance
Insurance purchased by the borrower, and required by the lender, to protect the property against loss from fire and other hazards. It is the second "I" in PITI.
Housing expense
The sum of mortgage payment, hazard insurance, property taxes, and homeowner association fees. Referred to as PITI; principle and interest, taxes and insurance
Housing expense ratio (or Front Ratio)
The ratio of housing expense to borrower income, which is used (along with the total expense ratio and other factors) in qualifying borrowers.