Cardinal Financial Mortgage Review 2022
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At a glance

NMLS: 66247
State License: MC-1825
4.0
Bankrate Score
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 loansNationwide availability
Available in all U.S. statesMin. credit score required
620 for conventional loans; 660 for jumbo loans; 580 for FHA loans; 550 for VA loans; 580 for USDA loansPros 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, but the average closing takes roughly 30 to 35 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 4.5 out of five stars on Trustpilot.
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 about your loan, 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 online.
Not sure if Cardinal Financial is right for you? Consider these alternatives
- CrossCountry Mortgage review: Another nationally-available lender, but you’ll need to get in touch with a loan officer to find out more information for your individual circumstances
- Movement Mortgage review: Offers a similarly diverse range of products, including HELOCs
- PHH Mortgage review: Allows you to submit evidence other than a credit score to determine eligibility
- Better.com mortgage review: An online lender that doesn’t charge any fees
- Churchill Mortgage review: Offers ability to apply for a mortgage via a convenient app
Breakdown of Cardinal Financial overall review score
- Affordability: 3/5
- Availability: 4.8/5
- Borrower experience: 4.3/5
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.
Cardinal Financial consumer reviews
4.5
1495 reviews
Customer service rating
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 184 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.
Excellent Experience
We closed 14 days ahead of schedule! | Woodbury, TN | 5/25/2021
We had a seamless experience with Shawn and his Sebonic financial team. He responded to all my inquiries in a timely manner and made everything very easy to understand. I would highly recommend for any financing you need!
Good service ..competitive rates....
Amanda | Chattanooga, Tennessee | 6/1/2021
Even though the refinance times are historically taking longer than normal Shawn Croat was always responsive and attentive to all questions we asked. We were please with the refinance process.
Amazing - Shawn Croat is the man
DB | Florida | 6/4/2021
What an amazing experience. Shawn Croat is one of the most responsive people I have worked with. We worked very well together. I even decided to buy a new truck while the loan was pending and he helped me figure out how to go about doing that. The rate was the lowest possible, there were no shen...
Honest and trustworthy!
Ronnie | Florida | 6/11/2021
Shawn Croat was very helpful through the loan process. He was always available and went above and beyond to ensure everything was smooth. Ive referred my friends and family to Shawn and highly recommended him to anyone!!
Very Fair, Very Efficient, Very Easy.
Very Fair, Very Easy | Minneapolis, MN | 6/11/2021
The process with Sebonic was very efficient. Communication was excellent. Through automation, the process was very easy. And I ended up with an even better deal than I started out with, due to lender credits. When the appraisal ended up costing more than expected, they credited me for the extra ...
Quick refinance closing
BP | Orlando, FL | 6/15/2021
Sebonic reached out to me because I was shopping around for a low interest refinance on our mortgage. Our loan officer, Shawn, gave us the rate we were looking for with a lender credit that covered the origination fee. We closed in just a few weeks which is quicker than we expected. Overall a goo...
Great to work with!
JD | Nashville, TN | 6/16/2021
Shawn Croat was awesome! Painless process. Took about a month with no issues.
Easy, Smooth, Great Advise
DG | FL | 6/17/2021
Shawn Croat made this a great experience. As I get older I am starting to see the value of true customer service. This was one of those times when I got Shawn to work my loan. I saved big on a refi thanks to his advise that was tailored to my particular situation. Once he got to know us the process...
Easy to deal with
Fast and Efficient | Nashville | 6/21/2021
I was a little skeptical as I had not heard of these guys, but they were super efficient to deal with. I worked with Shawn Croat - and a 15 minute call and a few emails and we were good to go. I would not hesitate to recommend them.
What an outstanding experience.
What an outstanding experience | Palm Beach Gardens, Fl | 6/22/2021
My wife and I are thrilled with our experience with Sebonic Financial. Having worked with other lenders in the past, they truly put on a master class in making this a very personal experience. Shawn Croat was just a dream to work with. He was responsive, available and always willing to crunch num...