CFBank Mortgage Review 2021

By Diane Costagliola

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

CFBank

NMLS: 409132

4.4

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Bankrate Score

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Loans offered

Conventional, jumbo, no-money-down, interest-only, construction, lot, bridge, investor loans; refinancing
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Nationwide availability

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

640 for conventional loans

Pros and cons

Pros

  • Borrowers are assigned a loan officer to work with via phone, email or text
  • Ability to customize mortgage (e.g., with or without points or closing costs)
  • Potential borrowers receive rate quote within 13 seconds, on average, after initial online inquiry

Cons

  • Brick-and-mortar locations limited to Ohio
  • Some questions on initial rate quote application may be difficult for new borrowers to accurately answer, such as credit score range, down payment amount and home purchase price, or fixed- or adjustable-rate mortgage

CFBank overview

Founded in 1882, CFBank is based in Columbus, Ohio, and has six brick-and-mortar locations around the state. Its mortgage products are available nationwide, and once assigned a loan officer, borrowers will be able to customize mortgage options that work best for them, including loans or without points or closing costs. CFBank offers a variety of mortgage options, ranging from interest-only and no-money-down loans to construction and lot loans. To get started, borrowers fill out an online rate quote form and rates are sent within a few seconds or minutes. They are then assigned an operations professional to help complete the loan application and upload documents, and a loan officer. Borrowers can select a customized mortgage that works best for them and lock in their rate. Borrowers typically complete the loan application within 48 to 72 hours and the closing within 25 to 30 days (some as little as 10 days). According to John Fearon, president of CFBank's Residential Mortgage Division, several CFBank loan officers are top ranked in the country, and CFBank is always working to further enhance and modernize the loan application process and website for the best customer experience.

Loan types

  • Conventional
  • Jumbo
  • No-money-down
  • Interest-only
  • Construction
  • Lot
  • Bridge
  • Investor loans
  • Refinancing

Lender fees

CFBank has no underwriting or origination fees. Borrowers pay the appraisal report fee and credit report fee.

Minimum borrower requirements

CFBank follows Freddie Mac underwriting guidelines. This means that for a conventional loan, borrowers should have a credit score of at least 620 (CFBank prefers 640) and at least 3 percent for a down payment. A down payment of less than 20 percent will result in private mortgage insurance (PMI). Freddie Mac guidelines also specify a debt-to-income ratio (DTI) of 45 percent or less.

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CFBank consumer reviews

4.6

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274 reviews

5 stars
4 stars
3 stars
2 stars
1 stars
238
9
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23

Customer service rating

Knowledge
4.6
Level of service
4.7
Professionalism
4.6
Responsiveness
4.7

91% of reviews would recommend this lender

0 of 0 rates honored

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Write a review of your experience with CFBank.

10 of 129 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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Great service!

Dan | Liberty Lake Washington | 3/17/2020

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Excellent customer service, repeat client!

Ryan M | Columbus, OH | 3/23/2020

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Great fast honest experience

Zb | Detroit | 5/13/2020

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Excellent Service

Nate S. | Bowling Green | 5/15/2020

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Thanks To Matthew Massie And CFBank

Matt Ise | Phoenix Arizona | 5/17/2020

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5 star

paul | nashville | 5/22/2020

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Fast and Easy

Kevin Hamilton | Saint Johns, Fl | 5/30/2020

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Smooth, responsive, easy

Jason H. | Michigan | 6/2/2020

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Great Experince

M.H.SHAIKH | ALBANY, CA. | 6/2/2020

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Great Communication

Ali | Illinois | 6/16/2020