Cardinal Financial Mortgage Review 2021

By Ellen Chang

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.

At a glance

Cardinal Financial

NMLS: 66247

State License: MC-1825

3.7

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Loans offered

Conventional, jumbo, fixed-rate, adjustable-rate (ARM), FHA, USDA, VA; refinancing options include rate-and-term refinancing and cash-out refinancing; disaster relief home financing, construction loans, manufactured home loans, tiny home loans, 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 to speed up the process for borrowers
  • Provides disaster relief home financing, construction loans, manufactured home loans, tiny home loans and container home loans

Cons

  • Doesn’t offer 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 mortgage lender that has both physical branches and online capabilities. The lender is headquartered in Charlotte, North Carolina and was founded in 1987. It offers conventional loans, jumbo loans, refinancing and government-sponsored FHA, USDA and VA loans, and provides mortgages in all 50 states. It also offers disaster relief home financing, construction loans, manufactured home loans, tiny home and container home loans. Cardinal Financial offers prequalification and preapproval to speed up the process for borrowers, and its proprietary technology, Octane, guides borrowers 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.

Loan types

  • Conventional
  • Jumbo
  • Fixed-rate
  • Adjustable-rate (ARM)
  • FHA
  • USDA
  • VA
  • Rate-and-term refinancing
  • Cash-out refinancing
  • Disaster relief home financing
  • Construction home loans
  • Manufactured home loans
  • Tiny home loans
  • Container home loans

Lender fees

Cardinal Financial does not provide lender fee information.

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. Borrowers also can 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.

Cardinal Financial offers jumbo loans with a 10 percent down payment and minimum credit scores of 660 and maximum loan amounts of $3 million. Fixed-rate, adjustable-rate and interest-only adjustable-rate loans are available for primary residence, a second home or an investment property.

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Cardinal Financial consumer reviews

4.6

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1283 reviews

5 stars
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1094
72
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Customer service rating

Knowledge
4.7
Level of service
4.6
Professionalism
4.5
Responsiveness
4.6

91% of reviews would recommend this lender

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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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Exceeded my Expectations

Larry | CA | 1/30/2020

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Best Mortgage Experience We Have Had

GA Mike | GA | 2/5/2020

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SEBONIC gets my vote!

Jean K | Raleigh, NC | 2/7/2020

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Great service and a great rate

Bon | CA | 2/16/2020

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Incredibly easy refinance process

Nancy | AR | 2/26/2020

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The best experience

David | 21710 | 5/13/2020

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Highly Recommend Tamara Eastridge

Juliet W. | Nashville, TN | 6/6/2020

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Great Experience, Competitive Rates

Joe P. | Charlotte, NC | 6/11/2020

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High Level Customer Service! Unbelievable Response

Nicole C | Hillsboro, OR | 6/30/2020

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Great rates and excellent customer service

Stan | Randolph, NJ | 8/17/2020