Sebonic Financial Reviews
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About Sebonic Financial
This profile has not been claimed by the company. See reviews below to learn more or submit your own review.
Sebonic Financial (NMLS #66247) is part of Cardinal Financial, a North Carolina-based mortgage lender that’s been in business since 1987. The company offers conventional, government-backed and jumbo loans for purchasing and refinancing. Its loans are available nationwide. You can start the application process by calling or filling out an online quote form.
- Free rate quotes
- Available in all 50 states
- Multiple loan options
- No mobile app
- No physical branches
Rates
Sebonic Financial doesn’t publish its rates online. To get an idea of its rates, you’ll need to request a personalized instant rate quote on its website by answering a series of questions.
The rate you’ll be offered will generally depend on personal factors such as your credit score, the home price, the loan amount, the loan type and term, your down payment amount and the property location.
Application process
You can begin the application process by requesting a rate quote on Sebonic Financial’s website. The form starts by asking if you are purchasing or refinancing. You’ll then answer questions about what you’re looking for, such as the property type, the loan amount and your down payment amount.
Once you’ve submitted the form, a loan officer may contact you to provide loan recommendations or next steps.
Sebonic Financial application process features
| Features | Availability |
|---|---|
| Online application | |
| Mobile document upload | |
| Publishes rates online | |
| Offers rate lock | Not disclosed |
| Offers prequalification (no hard credit check) | Not disclosed |
| Certified approval letter | |
| Physical branches | |
| State availabiity | 50 |
Loan types
Sebonic Financial offers a wide selection of purchase loans, including:
- Conventional loans
- Federal Housing Administration (FHA) loans
- U.S. Department of Veterans Affairs (VA) loans
- U.S. Department of Agriculture (USDA) loans
- Jumbo loans
Refinancing
Sebonic also offers refinance loans, including rate, term and cash-out refinancing. It also offers FHA streamline refinance loans and VA interest rate reduction refinance loans (IRRRLs).
Requirements
Sebonic Financial discloses some of its borrower requirements online. The company requires a 620 credit score and a 5% down payment to qualify for a conventional loan.
For FHA loans, it requires a minimum credit score of 550 and a minimum down payment of 3.5%. It doesn’t specify credit score guidelines for VA or USDA loans, though neither option requires a down payment.
National mortgage requirements by type
The table below shows some general guidelines to help you understand what’s usually required for different types of mortgages.
| Loan type | Minimum credit score | Minimum down payment | Compare with other lenders |
|---|---|---|---|
| Conventional | Typically 620 | Typically 3% | Mortgage lenders |
| FHA | 500 or 580 | 3.5% or 10% | FHA lenders |
| VA | Set by lender, typically 580 or 620 | 0% | VA lenders |
| USDA | Set by lender, typically 620 | 0% | USDA lenders |
» RELATED: Best jumbo loan lenders
Cost and fees
Sebonic Financial does not disclose specific costs and fees online. After you apply for a loan, it will provide you with a loan estimate document that will outline your specific estimated costs and fees.
Generally, you can expect to pay about 2% to 5% of the loan amount in closing costs, which include any additional fees the lender may charge. Closing costs typically include costs like appraisal costs, origination fees, credit reporting fees, discount points, escrow funds, mortgage insurance, taxes, homeowners insurance, title insurance and prepaid interest.
FAQ
Is Sebonic Financial legit?
Sebonic Financial is a legitimate mortgage lender that’s licensed with the Nationwide Multistate Licensing System (NMLS). Sebonic is backed by Cardinal Financial, which has been in business for over 30 years.
How does Sebonic Financial work?
Sebonic Financial is a direct mortgage lender that offers conventional and government-backed purchase and refinance loans to customers throughout the U.S. To get started, you can call or go online to fill out a form for a free rate quote.
Where is Sebonic Financial available?
Sebonic Financial is available in all 50 states.
Still have questions?
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Sebonic Financial Company Information
- Company Name:
- Sebonic Financial
- Website:
- www.sebonic.com