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
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 98 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.
Great experience and phenomenal rates!
Nate R | Westerville, OH | 12/1/2020
I had a wonderful experience from start to finish with CFBank and my banker Angelo T. The technology used by CFBank to gather all of our initial documents was completely painless - I entered my various online logins and everything was populated. Angelo T. was extremely responsive throughout the wh...
Quick and smooth process
Bruce | Monument Colorado | 1/8/2021
We've had experience with other online refi companies. This was the best, problem free and timely. Highly recommended!
Amazing REFI experience
SherA | San Jose, CA | 1/8/2021
Angelo and Kayla were really helpful, responsive and transparent. We were able to lock an excellent rate. Experience with CFBank's online portal was excellent. All documents were uploaded/E-signed except for final signing. Even though it took longer to close, we were kept in loop through the process...
Seamless and cost-saving
Tn | TN | 1/10/2021
I'd used CF Bank and had a good experience a couple of years ago, but there was a closing delay. (It was only a day or so but stressful.) I decided to give them a chance again, however, because I was not liking the fee and rate quotes I was getting on our refinance, including from our current mortga...
Already recommended CFbank to 2 other people
Jordan | Seattle, WA | 1/11/2021
I've refinanced 7 property/loans through a variety of local and online banks in the past 10 years. Nancy was the most responsive loan officers I have ever worked with, hands down. Very knowledgeable and helpful. The process was longer than expected, but with the volume of refinancing happening at th...
Best Mortgage Lender Experience EVER
Michael W | CO | 1/12/2021
CFBank is second to none when it comes to mortgages. We closed on a refi today - 48 days (and that includes Thanksgiving and Christmastime when businesses are closed for days here and there. Debbie Foley and her team were amazing from start to finish. Patient, timely, knowledgeable, and helpful....
Great responsiveness
Scott from Tucson | AZ | 1/15/2021
I never had to wait for a reply to any question and the whole process.
Overall a great experience
Brian P | Stuart, FL | 1/16/2021
The process was quick and painless. Angelo Tomasone and his processer Kayla were great to work with. In the end, the loan was consistent with the disclosure. No misleading advertising and no last minute changes or hidden fees.
CFBank for the Win!
Robert M. | GA | 1/20/2021
After a great experience a few years ago, I was very happy to work with Nancy Cattano again at CFBank for a mortgage refinance. I also got my Mom refinance her mortgage. I am very confident that we got a competitive offer, and the process was very smooth. Communication was effective and their web...
Very smooth process
Steve G. | Westlake Village, CA | 1/21/2021
This is actually my second re-fi in the last 6 months with CFBank. Like the previous one, everything was handled efficiently and I was kept informed of the progress every step of the way. Sarah and Kayla were a pleasure to work with and responded to my inquiries either the same day or within 24 ho...