CFBank Mortgage Review 2021
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At a glance
NMLS: 409132
4.0
Bankrate Score
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Find my best matchesLoans offered
Conventional, jumbo, rate-and-term refinancing; home equity line of credit (HELOC)Nationwide availability
Available in all U.S. statesMin. credit score required
Minimum credit score requirements not availablePros 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, 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.
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, but 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.
Reputation
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.
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 Bank 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: 15/15
- Availability: 9/15
- Borrower experience: 8/10
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.
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CFBank consumer reviews
4.7
332 reviews
Customer service rating
92% of reviews would recommend this lender
10 of 10 rates honored
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Write a review of your experience with CFBank.
10 of 155 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.
Nancy Cattano Rocks
Josh | Camas, WA | 10/1/2020
Nancy was fucking awesome. I'm probably not supposed to write that in a survey, but now I have you attention that this isn't just a plain Jane review. I used to work in banking, so I'm familiar with mortgages. I started working with another internet lender, and they tried to jam me with fees. Whe...
Knowledgeable, helpful, and enjoyable!
Peter from LA | Los Angeles, CA | 10/3/2020
From the start Nancy and the team were very helpful, gave me excellent advice, and steered through the process efficiently. I was kept well aware of what to expect at each step. Any question was promptly answered, and often gone beyond. Just top notch all around.
Thanks Jessie and CFBank
Duane C | Young Harris, GA | 10/5/2020
Jessie Pachan and the team at CFBank were great to work with for our refi!
Terrific experience
David J. | CA | 10/26/2020
CFBank and Monica F. and Lindsay S. were fantastic. They warned me up front that loan processing might take some time because demand was high. They kept me informed every step of the way, and moved things along quite quickly, actually. They handled a tricky problem with flood insurance without me ha...
Fast, smooth and efficient!
Naz P | Pasadena, CA | 10/30/2020
I highly recommend CF Bank - I just refinanced through them and they were fast and efficient. I worked with Daniel Keffer who was responsive and managed everything super smoothly!
Very Smooth Refi
Rey Macatula | Irvine, CA | 11/12/2020
The process is very efficient. I worked with Daniel Keffer and he was very responsive to my questions. I like how documents can be uploaded very easily to a secured site. Overall, it was a very pleasant experience
Easy to work with
Jaime | South Carolina | 11/12/2020
Samantha Wurster was very helpful and easy to work with. She made the process very smooth. Alecia Slanina was amazing. She was there for me at any moment when I had questions. She walked me through the process and made me feel very comfortable refinancing with CFBank!
Doug with CFBank is amazing!
Jason X | san francisco | 11/12/2020
The process was smooth. The staff was attentive. Extremely professional and enjoyable experience!
Awesome experience!!
Sonia Jaiswal | White Marsh, MD | 11/12/2020
The entire process of refinance from start to finish was smooth, no hiccups, very organized team, immediate response by an email or by phone on any questions from our end.
Hands Down Best Mortgage Agent
Craig S | Ridgefield, WA | 11/12/2020
Just at the beginning of the pandemic I went looking for a refinance loan for my home. Out of all the banks that reached out to me, I selected CF Bank working with John Mason. I chose John because of his ability to explain the answer to any question I had. When the numbers didn’t make sense he was...