Sebonic Financial overview
Sebonic Financial is a privately held lender based in Charlotte, North Carolina, and is a division of Cardinal Financial L.P.
Octane, the lender's innovative proprietary technology, transforms mortgage lending into an absolutely seamless experience. Loans processed through this technology are quick to close, according to the lender, with drag-and-drop document capability, eSign and real-time status updates for maximum convenience and transparency. Applicants will know their loan’s status at every critical checkpoint.
- Interest-only jumbo
Sebonic Financial does not provide lender fee information on its website.
Minimum borrower requirements
Sebonic Financial adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).
For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher). Depending on the loan, a minimum down payment of 5 percent is required for conventional loans, according to lender’s website. Down payments on FHA lows can be as low as 3.5 percent and VA loans have no down payment requirement.
For jumbo loans, interest-only loans are available. The maximum jumbo loan limit is $3 million.
For FHA and VA loans, requirements are set by the government. You can find them here:
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