Sebonic Financial Mortgage Review 2021

By Ellen Chang

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

Sebonic Financial

NMLS: 66247

State License: MC-1825

3.6

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Bankrate Score

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Loans offered

Conventional, FHA, VA, USDA, jumbo, interest-only jumbo, fixed, ARMs; refinancing
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Nationwide availability

Available in all U.S. states and the District of Columbia
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Min. credit score required

620 for conventional loans; 550 for FHA loans

Pros and cons

Pros

  • Loan options include conventional, VA, FHA, USDA and jumbo mortgages
  • Mortgage refinancing options
  • Interest-only jumbo ARM available

Cons

  • Online information about loan costs not available
  • Customer service hours limited
  • Home equity loans and home equity lines of credit (HELOC) not available

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.

Loan types

  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Interest-only jumbo
  • ARMs
  • Refinancing

Lender fees

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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Sebonic Financial consumer reviews

4.6

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1306 reviews

5 stars
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1103
72
11
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111

Customer service rating

Knowledge
4.5
Level of service
4.6
Professionalism
4.6
Responsiveness
4.6

90% of reviews would recommend this lender

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Write a review of your experience with Sebonic Financial.

10 of 66 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.

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The best experience

David | 21710 | 5/13/2020

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Highly Recommend Tamara Eastridge

Juliet W. | Nashville, TN | 6/6/2020

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Great Experience, Competitive Rates

Joe P. | Charlotte, NC | 6/11/2020

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High Level Customer Service! Unbelievable Response

Nicole C | Hillsboro, OR | 6/30/2020

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Great rates and excellent customer service

Stan | Randolph, NJ | 8/17/2020

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Smooth, well executed refi at a great rate

DD | Tennessee | 9/11/2020

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Highly Recommend Michael Fienberg!

Amy B. | CO | 9/23/2020

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Great rates, great service, closed early!!

Bob Carignan | NC | 10/8/2020

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So happy!

Pedro C | TX | 10/28/2020

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Octane, Ben Brown

Beth Pupek | Ormond Beach FL | 11/6/2020