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Sebonic Financial Mortgage Review 2023

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At a glance

Sebonic Financial
NMLS: 66247 Cardinal Financial
State License: MC-1825
Editor's take

Sebonic Financial is good for borrowers looking for standard mortgage options or who prefer an online experience and quick closing.

Bankrate Score
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4.8
Rating: 4.8 stars out of 5
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Bankrate Score

Customer Rating
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4.5
Rating: 4 stars out of 5

1,495 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate; rate-and-term refinancing

Credit Good

Min. credit score required

580 for conventional loans, 550 for FHA loans

Location

Nationwide availability

Available in all U.S. states

Dollar Coin

Min. down payment

5% for conventional loans, 3.5% for FHA loans, none for VA loans

At a glance

Sebonic Financial

NMLS: 66247 Cardinal Financial

State License: MC-1825

4.8

Rating: 4.8 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate; rate-and-term refinancing

Location

Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

580 for conventional loans, 550 for FHA loans

Sebonic Financial overview

A division of Cardinal Financial, Sebonic Financial is a privately held lender based in Charlotte, North Carolina. Octane, the lender's proprietary technology, aims to provide a seamless experience for borrowers, including drag-and-drop document and e-signature capabilities and real-time status updates. In short: You’ll know where your loan stands at every critical checkpoint through Sebonic’s platform.

Pros and cons of Sebonic Financial

Pros
  • Checkmark

    Proprietary system streamlines the loan process

Cons
  • Close X

    No information about rates or costs online

  • Close X

    No home equity lines of credit (HELOCs) or home equity loans

Our Editor’s Take on Sebonic Financial

Sebonic Financial is good for borrowers looking for standard mortgage options or who prefer an online experience and quick closing.

Breakdown of Sebonic Financial overall score

  • Affordability: Sebonic Financial’s rates are generally favorable, but you’ll need to contact the lender directly or find its offers on a third-party site to learn what you might qualify for.
  • Availability: Sebonic Financial is available to borrowers around the U.S. It offers the basic suite of mortgage options, including conventional and government loans.
  • Borrower experience: Sebonic Financial boasts positive reviews from past borrowers. With the exception of consulting with a loan officer and some parts of the closing, you can complete most of the lending process with this lender online.

Affordability: 5/5

Sebonic Financial doesn’t publicly advertise interest rates on its website, but does on other sites, including Bankrate. Its rates are comparable to and sometimes lower than Bankrate’s averages. While you can request a rate quote online, you won’t receive it until after you’ve spoken with a loan officer.

In addition, the lender charges an origination fee of $1,490.

Availability: 5/5

Sebonic Financial’s mortgage offerings include conventional, FHA, VA and USDA loans, along with jumbo mortgages if you’re buying a higher-priced property. You can have a credit score as low as 580 for a conventional loan from this lender, much lower than the 620 minimum required by most others. You’ll need a down payment of at least 3 percent or 5 percent, depending on loan program.

Borrower experience: 4.3/5

Sebonic Financial’s parent company Cardinal Financial consistently receives accolades from borrowers, contributing to its A+ with the Better Business Bureau. Sebonic on its own has a “Great” rating on Trustpilot, as well.

You can request a free rate quote online through the Sebonic Financial website, but you’ll need to speak with a loan officer to move forward with the process. Once you get started, the lender offers an online application that allows you to upload documents, e-sign your disclosures and get real-time status updates. The lender doesn’t offer a mobile app, however.

If you have questions throughout the process, the lender operates a chat function on its website, or you can reach a customer service agent via email. (If you already have a loan in progress, it might make sense to contact your loan officer directly, however.) Its hours are Monday through Friday from 8 a.m. to 8 p.m. ET.

If you need to run some numbers, you can use the lender’s online calculators — Sebonic doesn’t provide any other resources online.

Refinancing with Sebonic Financial

Sebonic Financial offers mortgage refinancing but doesn’t disclose refi rates upfront online. The lender also doesn’t share refinance costs, so you’ll need to speak with a loan officer to get a quote and those details.

Alternatives to Sebonic Financial

Sebonic Financial customer ratings and reviews

logo

NMLS: 66247 Cardinal Financial

State License: MC-1825

4.5

Rating: 4 stars out of 5

1,495 ratings

Info

This lender has 0 reviews.

Knowledge
Rating: 4.6 stars out of 5
Level of service
Rating: 4.6 stars out of 5
Professionalism
Rating: 4.5 stars out of 5
Responsiveness
Rating: 4.5 stars out of 5
5 stars
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1 star
84%
5%
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1%
9%

89% of customers would recommend this lender.