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.
- Adjustable-rate (ARM)
- Rate-and-term refinancing
- Cash-out refinancing
- Disaster relief home financing
- Construction home loans
- Manufactured home loans
- Tiny home loans
- Container home loans
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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