Ohio-based CFBank has roots dating back to 1882, with locations in the Columbus, Cincinnati and Akron regions and plans to open new branches in Cleveland and Indianapolis, Indiana, in the future. While the bank has been a large player in nationwide mortgage lending, it announced in 2021 it plans to wind down its direct-to-consumer mortgage offering to focus on a traditional retail origination model. The implications of this move are somewhat unclear, and the bank’s mortgage website currently doesn’t offer rates or the ability to obtain a rate quote (as of September 2021). However, you can still apply online.
Borrowers in Ohio who want to have a home loan with a traditional bank, or those who want a home equity line of credit (HELOC)
- Rate-and-term refinancing
- Home equity line of credit (HELOC)
CFBank typically charges no origination or underwriting fees, but be sure to ask your loan officer about any fees that might apply to your loan.
CFBank’s mortgage rates are not currently available on the bank’s website.
CFBank is not accredited by the Better Business Bureau, but it does have a B+ rating from the organization. Based on eight customer reviews, the bank has a one-star rating with the BBB, and all of the complaints on the BBB’s website are related to delays and a lack of transparency, particularly with refinancing.
CFBank’s website has a few calculators about mortgage affordability, and you can apply for a loan online. However, the rest of the website is extremely limited in functionality as the bank transitions out of a direct lending model.
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 and at least 3 percent for a down payment. A down payment of less than 20 percent will result in the need to pay for private mortgage insurance (PMI). Freddie Mac guidelines also specify a debt-to-income ratio (DTI) of 45 percent or less.
Refinancing with CFBank
You can refinance your existing mortgage with CFBank. You must first complete a personal profile and share your information to get access to rates.
Not sure if CFBank is right for you? Consider these alternatives
Breakdown of CFBank overall review score
- Affordability: 15/15
- Availability: 9/15
- Borrower experience: 8/10
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.