Committed to finding the right financing option for your particular situation.

Whether you’re buying a new home or refinancing your existing home, Cornerstone Lending Group is committed to finding the right financing option for your particular situation and our team of real estate, mortgage, and finance professionals offers a full complement of processing, underwriting, and lending services – all under one roof so the process is fast and seamless.

We specialize in Conventional, FHA, VA and USDA Mortgages as well as refinancing loans. See below for definitions of these terms and please feel free to contact us at 941-236-1800 if you have any questions about these or any other conventional or governmental loan programs.

We look forward to hearing from you!

A conventional mortgage is a home loan that isn’t offered or secured by a government agency. It is offered through a private lender, such as a bank, credit union or mortgage company. Mortgages that are guaranteed by government-sponsored organizations like Freddie Mac or Fannie Mae can still be considered conventional mortgage.

Because they are not fully secured by a governmental agency, they hold greater risk for the lender. This means that the rates can be higher, even if the loan is guaranteed by Fannie Mae or Freddie Mac, and the homebuyers might have to go through a more stringent screening process.

FHA loans are guaranteed and insured by the Federal Housing Administration (FHA), allowing would-be homebuyers to borrow up to 96.5% of the home’s value with a 3.5% down payment.

Some conventional mortgages require a down payment of 15-20%. The larger down payment is meant to reduce the risk to lenders by lowering the loan-to-value (LTV) ratio.

When a would-be homebuyer borrows more than 80% of the value of the home, mortgage insurance gives the lender the same security without the higher down payment. The FHA Mortgage Insurance Premium (MIP), which is paid by the borrower, protects the lender in the event of default.

In addition to the lower down payment requirements, FHA loans have lower credit score requirements, fewer down payment restrictions, and they are federally guaranteed making them a popular choice for first-time homebuyers.

VA mortgage loans are backed by the United States Department of Veterans Affairs (VA) and they are available to qualified veterans, active-duty military members, and spouses of military members.

To apply for a VA loan, the borrower must present a Certificate of Eligibility (COE) from the VA. VA loan eligibility is based on time served, duty status, and discharge status.

USDA Mortgage Loans, also known as the USDA Rural Development Guaranteed Housing Loans are mortgages offered to rural property owners by the United States Department of Agriculture.

USDA Home Loans have Maximum Household income limits which vary by the county and change annually. The Maximum Household Income Limits are based on everyone in the home who is a wage earner, even if their incomes are not used to qualify for the USDA Loan.

Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340.

Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.