Sebonic Financial Mortgage Review 2020

By Ellen Chang

About our reviews

Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

Sebonic Financial

Bankrate Score

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3.3

User reviews
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( 1244 )

4.6

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

Sebonic Financial is a privately held lender that is based in Charlotte, N.C., and is a division of Cardinal Financial L.P.  Octane, the lender's innovative proprietary technology, transforms mortgage lending into an absolutely seamless experience. Loans processed through this technology are quick to close, according to the company.  Sebonic offers drag-and-drop document capability, eSign, and real-time status updates for maximum convenience and transparency. Applicants will know their loan’s status at every critical checkpoint.

Nationwide availability

Mortgages are available in all 50 states and the District of Columbia.

Minimum credit score

For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher).

Loan types

Conventional fixed mortgages, interest-only adjustable-rate-mortgages (ARMs) for jumbo loans ,FHA, VA and USDA loans, jumbo mortgages

Pros

 
  • Loan options include fixed-rate, VA, FHA, USDA and jumbo mortgages
  • Mortgage refinancing options, no details provided via the website
  • Interest-only jumbo ARM

Cons

 
  • No online application available to borrowers
  • Online information about loan costs is not available
  • Customer service hours are limited and ask consumers to leave a message
  • Home equity loans and home equity lines of credit (HELOC) aren’t available

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

Sebonic Financial overview

Loan types

  • Conventional
  • FHA
  • VA
  • Jumbo
  • USDA
  • Refinancing loans
  • Lender fees

Sebonic fees vary by loan type. No information was given about their origination fees from their website.

Minimum borrower requirements

Sebonic adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).

For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher). Depending on the loan, a minimum down payment of 5 percent is required for conventional loans, according to the website. Down payments on FHA lows can be as low as 3.5 percent and VA loans as low as zero percent upfront.

For jumbo loans, interest-only loans are available. The maximum jumbo loan limit is $3 million. 

For FHA and VA loans, requirements are set by the government. You can find them here:

FHA loan requirements

VA loan requirements

 

Get started with Sebonic Financial

Borrowers can apply by phone. There are no brick-and-mortar locations where borrowers can apply in-person.

Hours

Limited. You may get a recording that instructs you to leave a message for callback. 855 561-4944  

Sebonic Financial consumer rating and reviews

4.6 reviews
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92% recommended

We have that perfect combination you’ve been searching for in a mortgage lender: simplicity and speed at an affordable price. Mortgages may be complex, but leave that up to us. We’ve made the process simple so our customers benefit from a streamlined lending experience. Proprietary loan processing technology that yields a fast and simple loan process for purchases and refinances. Flexible products to meet every borrower's needs.

  • Competitive rate and fee combinations
  • Better Business Bureau Accredited
  • FHA and VA Approved Lender

Customer Service Rating

Knowledge
4.7
Level of service
4.7
Professionalism
4.6
Responsiveness
4.6
0 out of 0 rates honored
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(1244 reviews)
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88

The reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

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Showing 10 of 28 Reviews
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JC
TN

8/1/2019

Great Experience

Entire process was quick and easy. Tamara was very responsive and helpful.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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G.G.
New Jersey

8/2/2019

Great experience!

It was an absolute pleasure to deal with Cardinal Financial (aka Sebonic) throughout the mortgage application process. In particular, I was extremely impressed with the loan officer Tamara Eastridge. Her communication skills are second to none. She is very thorough and detailed. Her response time is...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Brian M.
Atlanta, GA

9/26/2019

Great experience!

Jason Lambert is the best loan officer I have ever worked with. I highly recommend using Jason for any of your mortgage needs. Jason is courteous, responsive and knowledgeable and has a true desire to help the customer. If you have had a bad experience in the past with getting a mortgage, then pl...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Kurt
Vancouver, WA

10/15/2019

Great! Would use again.

Got us a great rate and credits/low fees. Transparent, closed on time, did what they said they were going to do. Highly recommend. Only complaint was that the Transaction Coordinator was sometimes hard to get ahold of -- Probably very busy due to recent drops in rates -- Still overall a great exp...

Knowledge
5.0
Level of service
4.0
Professionalism
5.0
Responsiveness
3.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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James
TX

10/30/2019

Jason Lambert is the guy to use

Ive used this company several times in the past few years for refis and purchases. I work exclusively with Jason Lambert because no one is better!

Knowledge
5.0
Level of service
4.0
Professionalism
5.0
Responsiveness
4.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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JAR
Florida and Ohio

10/31/2019

I'm a very satisfied customer, highly recommend

I was most pleased to work with Jason L from Sebonic/Cardinal. He was always very easy to talk with and always available when I called. He answered all my questions and was full of helpful information. He made the application process a breeze. Always a good disposition and attitude. A pleasur...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Dwight
Flagstaff, AZ

11/2/2019

Second time and another great refi

Second time I’ve refinanced with Tamara. I’ve also referred a colleague and she helped them. Communication was great. Rate/term was great. My title officer said it was one of the best deals she has seen all year.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Manie
Minneapolis, MN

11/6/2019

Easy Closing

Sebonic is easy to work with and with an efficient platform. This is my second closing with them and I am happy with them each time and will continue to use them.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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ALT
Phoenix, AZ

11/11/2019

Another great refi with Sebonic

Just completed my second refinance with Sebonic and Tamara Eastridge. I would highly recommend her. Tamara is knowledgeable and quickly responds to questions and concerns. Another great experience!

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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RB
Matthews, NC

11/13/2019

Loan approved thanks to Christopher Germain

Thanks to Christopher Germain for all his effort with our refinance. Highly recommend Christopher. He is professional and patient. The loan was a very low rate and it closed early. Awesome service.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes