Cornerstone Bank Mortgage Lending & HMDA Data, 2025
In 2025, Cornerstone Bank of Spencer, MA reported 1,060 mortgage applications totaling $324.1 million, up 18% from 2024. The average application was for $305,754, and applicants reported an average income of $217,251. 64% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Worcester, MA-CT (645), Cambridge-Newton-Framingham, MA (117) and Boston, MA (95) (applications in parentheses).
| Mortgage Company & Address | Cornerstone Bank 176 Main Street Spencer, MA 01562 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 1,060 |
| Total Mortgage Loan Application Amount | $324,100,000 |
| Average Mortgage Loan Application Amount | $305,754 |
| Highest Mortgage Loan Application Amount | $30,005,000 |
| Average Applicant Income | $217,251 |
| Highest Applicant Income | $8,190,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cornerstone Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for Cornerstone Bank in 2025
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 376 | $167,010,000 | $444,000 | $5,625,000 | $217,000 | $3,856,000 |
| Home Improvement | 312 | $45,550,000 | $145,000 | $955,000 | $184,000 | $2,198,000 |
| Refinancing | 213 | $48,825,000 | $229,000 | $2,005,000 | $272,000 | $8,190,000 |
| Other Purpose | 126 | $18,610,000 | $147,000 | $855,000 | $211,000 | $2,570,000 |
| Cash-out Refinancing | 33 | $44,105,000 | $1,336,000 | $30,005,000 | $205,000 | $1,674,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 702 | $204,440,000 | $291,000 | $30,005,000 | $224,000 | $8,190,000 |
| Not Provided | 207 | $59,545,000 | $287,000 | $2,005,000 | $224,000 | $1,500,000 |
| Asian | 57 | $20,845,000 | $365,000 | $1,205,000 | $216,000 | $514,000 |
| Hispanic | 40 | $7,750,000 | $193,000 | $505,000 | $127,000 | $444,000 |
| Black or African American | 27 | $8,345,000 | $309,000 | $785,000 | $149,000 | $316,000 |
| Not applicable | 23 | $22,345,000 | $971,000 | $5,625,000 | $0 | $0 |
| American Indian or Alaskan Native | 4 | $830,000 | $207,000 | $325,000 | $189,000 | $240,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,057 | $322,655,000 | $305,000 | $30,005,000 | $218,000 | $8,190,000 |
| FHA-insured (Federal Housing Administration) | 3 | $1,445,000 | $481,000 | $785,000 | $101,000 | $168,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 679 | $180,315,000 | $265,000 | $5,625,000 | $198,000 | $1,268,000 |
| Application Denied By Financial Institution | 149 | $32,645,000 | $219,000 | $2,005,000 | $127,000 | $985,000 |
| Application Withdrawn By Applicant | 122 | $71,250,000 | $584,000 | $30,005,000 | $422,000 | $8,190,000 |
| Preapproval Approved but not Accepted | 59 | $25,755,000 | $436,000 | $1,255,000 | $221,000 | $3,856,000 |
| File Closed For Incompleteness | 27 | $8,105,000 | $300,000 | $1,105,000 | $312,000 | $1,500,000 |
| Application Approved But Not Accepted | 21 | $3,515,000 | $167,000 | $445,000 | $175,000 | $634,000 |
| Preapproval Denied by Financial Institution | 3 | $2,515,000 | $838,000 | $1,845,000 | $154,000 | $348,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 1,060 | $324,100,000 | $305,000 | $30,005,000 | $218,000 | $8,190,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cornerstone Bank's 2025 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Cornerstone Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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