CFBank Mortgage Review 2022
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At a glance
NMLS: 409132
4.6
Bankrate Score
Loans offered
Conventional, jumbo, rate-and-term refinancing; home equity line of credit (HELOC)Nationwide availability
Available in all U.S. statesMin. credit score required
620 for conventional loansPros and cons
Pros
- Seven current and “coming soon” branch locations in Ohio and Indiana
- Offers home equity lines of credit (HELOCs)
- Charitable corporate focus, making donations in the communities it serves and providing financial education to students
Cons
- Bank in flux as mortgage business changes from direct-to-consumer to traditional retail
- Website offers very little information for prospective borrowers
CFBank overview
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. 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. However, you can still apply online.
Good for
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)
Loan types
- Conventional
- Jumbo
- Rate-and-term refinancing
- Home equity line of credit (HELOC)
Lender fees
CFBank typically charges no origination or underwriting fees. Be sure to ask your loan officer about any fees that might apply to your loan.
Rates
CFBank’s mortgage rates are not currently available on the bank’s website.
Online services
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
- PNC mortgage review: Also maintains branch locations in Ohio and has a complete website experience
- Chase Home Lending review: High customer satisfaction scores and a nationwide branch network
- Better.com mortgage review: An easy-to-use website, no fees, fast closings and around-the-clock customer support
- Wells Fargo Home Mortgage review: Nationwide branch network with alternative credit consideration (rent payment and utility bills) for borrowers
- Optimum First Mortgage review: Offers a wide range of home loan options for borrowers in Ohio, plus a Lifetime Rate Protection Guarantee that waives closing costs on refinances
Breakdown of CFBank overall review score
- Affordability: 5/5
- Availability: 4.5/5
- Borrower experience: 4.3/5
Review methodology
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.
CFBank consumer reviews
4.7
333 reviews
Customer service rating
92% of reviews would recommend this lender
10 of 10 rates honored
Review this lender
Write a review of your experience with CFBank.
10 of 28 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.
Easy, transparent refinance
JM | Cleveland, OH | 5/30/2021
Just did a 15 year refinance with CFBank and have no complaints at all. Very transparent, relatively lower fees, quick process, and most importantly good communication throughout the whole process.
The Loan process from start to finish was easy with CF Bank.
Mark | California | 6/5/2021
Angelo T, my loan agent was great. I would highly recommend him if you need someone. CF Bank's process was very easy, their document upload tool was simple to use and the rate they promised me was the rate they delivered.
Great experience.
Professional and knowledgeable | Florida | 6/6/2021
Monica Figliola and her team, especially Jozy Schwieterman, did a fantastic job expediting my refinance. The entire process was smooth from the beginning and we closed in a month from applying. I would highly recommend them.
Very responsive and informative
Edward | Colorado | 6/6/2021
Jessie is the most responsive lender I have ever worked with. She is informative and always available to quickly answer questions. I have refinanced twice with Jessie and both times the process was easier and moved along quicker than I expected.
I couldn’t have chosen a better company to refinance.
Great service | San Gabriel, California | 6/6/2021
Got a low interest rate and the application process was easy and fast!!!
Great and easy smooth process to refinance.
Zahrans | Georgia | 6/7/2021
The CFBank people who processed our refinance application were very friendly and made sure that our needs are met right away without any pressure to sell anything beyond what we want. The process of the loan was very smooth and easy to handle online.
A Refi went geat!
Jeb | Georgia | 6/8/2021
Matt and his team did a great job on my refi. I would certainly use them again!
Quick turnaround, good experience
Florida Refi | Jacksonville | 6/9/2021
Mason was always quick to respond and always very transparent about the process. It was a pleasure working with CFBank.
Fantastic rates and service
Nick | Ohio | 6/10/2021
I started my purchase application with Angelo Tomasone. He was thorough, informative from start to finish. He was able to have my purchase mortgage ready to close well prior to the closing date. I have recommended him to friends/family.
Extremely easy
Bob | Naples, FLA | 6/11/2021
Jessie responded to my online application in less than a minute. She was very well informed and helpful. Once she handed me over to Lindsay the attention and professionalism was evident as it was with Jessie. Lindsay also made the process very easy and was always available to help.