Cardinal Financial Mortgage Review 2021

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At a glance

Cardinal Financial

NMLS: 66247

State License: MC-1825

3.8

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Bankrate Score

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Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans; investment property; interest-only; disaster relief; manufactured home, tiny home and container home loans
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Nationwide availability

Available in all U.S. states
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Min. credit score required

620 for conventional loans; 660 for jumbo loans; 580 for FHA loans; 550 for VA loans; 580 for USDA loans

Pros and cons

Pros

  • Offers prequalification and preapproval
  • Provides disaster relief home financing, construction loans, manufactured home loans, tiny home loans and container home loans
  • Works with affordable housing, first-time homebuyer and down payment assistance programs nationwide

Cons

  • Doesn’t offer home equity lines of credit (HELOCs) or home equity loans
  • Limited information online regarding fees and interest rates

Cardinal Financial overview

Cardinal Financial, also doing business as Sebonic Financial, is a national mortgage lender with both online capabilities and more than 115 locations for borrowers. It offers conventional loans, jumbo loans, refinancing and government-sponsored FHA, USDA and VA loans, and provides mortgages in all 50 states and Washington, D.C. Along with these products, the lender offers disaster relief home financing, construction loans, manufactured home loans and tiny and container home loans. To speed up the process for borrowers, Cardinal Financial offers prequalifications and preapprovals and its proprietary technology, Octane, guides you through an efficient, streamlined home loan process, from displaying loan options (including closing costs) to loan status and more. Borrowers can also e-sign using the platform. Borrowers have closed in as few as seven days, according to the lender's website, with the average closing taking 30 days. Founded in 1987, Cardinal Financial is headquartered in Charlotte, North Carolina.

Good for

Borrowers across the U.S. looking for either standard or specialized loan products or down payment assistance

Loan types 

  • Conventional
  • Jumbo
  • FHA
  • VA
  • USDA
  • Fixed-rate
  • Adjustable-rate
  • Rate-and-term and cash-out refinancing
  • Construction and renovation loans
  • Investment property
  • Interest-only
  • Disaster relief
  • Manufactured home, tiny home and container home loans

Lender fees 

Cardinal Financial does not provide lender fee information online.

Rates 

Cardinal Financial doesn’t disclose interest rates on its website, which means you’ll need to request a quote to determine what you might qualify for. (Many other lenders provide rates upfront online, or let you request a quote without needing to wait for a loan officer to contact you.)

Reputation

Cardinal Financial has a rating of 4.1 out of five stars on Trustpilot as well as an A+ rating from the Better Business Bureau, with 3.8 out of five stars based on customer reviews. 

Online services

You can request a free mortgage rate quote online through Cardinal Financial’s website. However, you’ll need to wait for a loan officer to contact you to get the actual quote and start the application process. Once you do, you can complete the application online and upload your documents via its secure website. The lender also allows borrowers to e-sign disclosures and provides real-time loan status updates.

If you have questions, you can chat with a customer service representative through the lender’s website or by email, but if you’re already in contact with a loan officer, it might be better to reach out to the officer first.

The lender doesn’t have a mobile app, but does provide calculators, a mortgage glossary, answers to frequently asked questions about the mortgage process and a blog with even more resources online.

Minimum borrower requirements 

Cardinal Financial follows Fannie Mae’s underwriting guidelines, which means borrowers need a minimum credit score of 620 and can put as little as 3 percent down for a conventional loan. Borrowers can also have a maximum debt-to-income ratio, or DTI, of 50 percent with a Fannie Mae HomeReady Mortgage. That means the sum of your monthly debts (including the new mortgage payment) cannot exceed 50 percent of your gross monthly income. Jumbo loans up to $2 million require a minimum credit score of 660.

For borrowers without a credit score, Cardinal Financial also has manual underwriting capabilities to help qualify you for a loan.

Refinancing with Cardinal Financial

Homeowners can refinance a mortgage with Cardinal Financial, though as with the lender’s home purchase loans, you can’t view interest rates without requesting a quote and speaking with a loan officer. The lender also doesn’t provide information about the costs associated with refinancing.

Not sure if Cardinal Financial is right for you? Consider these alternatives

Breakdown of Cardinal Financial overall review score

  • Affordability: 13/15
  • Availability: 12/15
  • Borrower experience: 8/10 

Review methodology

To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

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Cardinal Financial consumer reviews

4.5

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1446 reviews

5 stars
4 stars
3 stars
2 stars
1 stars
1214
76
12
12
132

Customer service rating

Knowledge
4.6
Level of service
4.6
Professionalism
4.5
Responsiveness
4.5

89% of reviews would recommend this lender

10 of 10 rates honored

Review this lender

Write a review of your experience with Sebonic Financial.

10 of 193 reviews

The consumer 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.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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So happy!

Pedro C | TX | 10/28/2020

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Octane, Ben Brown

Beth Pupek | Ormond Beach FL | 11/6/2020

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Great experience!

Sylvia | Portland | 11/18/2020

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Great experience

Kasinath Kuravi | Blacksburg | 12/8/2020

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Efficient and easy to work with

James 33 | Colorado | 12/8/2020

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Flawless

Justin | Tucson | 12/8/2020

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Great Experience! Faith is Amazing

Rebecca Mance | Charlotte, North Carolina | 12/8/2020

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Great service and a great rate

Raj | WA | 12/8/2020

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Great rates, easy refinance process

David | Tennessee | 12/13/2020

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Kerrie Lollis was awesome

NoStepOnSnek | FL | 12/14/2020

Written by
Ben Luthi
Contributing writer
Ben Luthi is a personal finance and travel writer who loves helping people learn how to live life more fully. His work has appeared in several publications, including U.S. News & World Report, USA Today, Yahoo! Finance and more.
Edited by
Mortgage editor