Cardinal Financial Mortgage Review 2020
By Ellen Chang
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NMLS: 66247
State License: 603K498
Bankrate Score
3.5
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.
Cardinal Financial is a mortgage company that has both physical branches and online capabilities. The mortgage lender is headquartered in Charlotte, North Carolina and was founded in 1987. The mortgage company offers conventional loans, jumbo loans, refinancing and government-sponsored FHA, USDA and VA loans, and provides mortgages in all 50 states. Cardinal Financial offers pre-qualification and pre-approval to speed up the process for homebuyers. Cardinal Financial also offers disaster relief home financing, construction home loans, manufactured home loans, tiny home and container home loans.Nationwide availability
Available in all U.S. states
Minimum credit score
620 for conventional loans; 660 for jumbo loans
Loan types
Conventional, jumbo, fixed-rate, adjustable-rate (ARM), FHA, USDA, VA; refinancing options include cash-out refinancing; disaster relief home financing, construction home loans, manufactured home loans, tiny home and container home loans
Pros
- Offers pre-qualification and pre-approval to speed up the process for homebuyers
- Provides disaster relief home financing, construction home loans, manufactured home loans, tiny home and container home loans
Cons
- Doesn’t offer HELOCs or home equity loans
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Cardinal Financial overview
Loan types
- Conventional
- Jumbo
- Fixed-rate
- Adjustable-rate (ARM)
- FHA
- USDA
- VA
- Refinancing, including cash-out refinancing
- Disaster relief home financing
- Construction home loans
- Manufactured home loans
- Tiny home and 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.
Get started with Cardinal Financial
Borrowers can apply in person, online or by phone. If you apply online, a representative will contact you.Hours
Cardinal Financial consumer rating and reviews
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