Sebonic Financial Ratings & Reviews

NMLS ID: 66247

Sebonic Financial

4.7 of 5 515 Reviews

Who is Sebonic Financial?

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved...

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94% of our customers would recommend this lender. (485 of 515)

Customer Reviews

  • (0) (0)

    Very Honest

    Yes, I recommend this lender

    They met all of their commitments. Totally issue and stress free process.

    By:   (South Carolina)Reviewed On:

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  • (5) (0)

    FHA Streamline

    I initiated a loan with Cardinal/Sebonic in March, 3 months ago. To summarize, I am not at all pleased and feel this company is incredibly slow and at times borderline incompetent. I disclosed a potential credit issue to the loan officer up front and asked that she verify with an underwriter before we proceeded with charging for the appraisal. She checked with a supervisor and was assured there should not be a problem. We then proceeded with the appraisal and on to underwriting. The underwriter would not approve the loan based on the same credit issue that was said to have not been a problem. We then discussed the possibility of doing a non-credit qualifying streamline, however the loan officer stated the FHA seasoning period would be an additional couple of months. I reviewed FHA’s requirements and disagreed, insisting that the loan could proceed and my situation has already met FHA’s seasoning requirements. I elevated the issue to a supervisor who overruled my loan officer’s determination and the loan was allowed to proceed – my takeaway from this is that their loan officers are not well-versed in the products they are selling. My new streamline has been in and out of underwriting at least 3 times that I am aware of – each time the underwriter seems to find a new issue to nitpick – something wasn’t done correctly on the appraisal that they had already reviewed and approved several times prior, a new form needed to be signed, the disclosures were done improperly and instead of not having to bring any money to closing I would need to bring several thousand dollars. In addition, at the beginning of the streamline I was assured that since the underwriter was already familiar with my file we should be able to close in a few weeks – it is now 6 weeks later. My prior loan processor went incognito for several days and only until I again elevated to a supervisor, was my loan re-assigned to someone else. I feel as if I must continuously nag and prompt them to move the loan forward. Due to their consistent lack of meeting deadlines I am now concerned that the loan will not fund before my June payment is due or before my second rate lock expires. It’s no wonder the only way this company can stay in business is that they have the lowest rates. If it weren’t for that single fact, I would have moved on long ago. I they actually close the loan before the end of the month I will elevate my rating, but until then they are a 1-star.

    By:   (Shoreline, WA)Reviewed On:

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  • (8) (0)

    New House for a Army Veteran

    Yes, I recommend this lender

    To Everyone, I want to start off by saying this was my first time buying a house. Due to some disabilities from being in the Army, I never thought I would be able to buy a house. After seeing how low interest rates were with Sebonic/ Cardinal Financial I figured what do I have to lose in trying. With that said, I was informed my 660 score would be enough to qualify me and even if it had dropped to 620, there would be no problem. I was pre qualified for 200k and even a little more if needed. Courtney Burns answered all questions in a very professional response. Now what makes this very exciting for me is the fact that I'm 100% Disabled with VA and not being able to work. This was also due to almost no debt. My agent called and had other questions about how it could really be possible to give such great rates and have no processing fees. Even after call to verify I was continually told that Sebonic by my agent that this was too good to be true and that this was her first time working with an internet finance company and had only worked with local lenders in Asheville NC. (What is kind of funny is the one lender my real estate broker recommended to me pretty much hung up on me when I asked if they would like to match what was given by Sebonic was proposing.) The one thing I would like to mention is that Sebonic does require you to be pro active if you really want to be informed through out the total process. I know there were times Sebonic/ Cardinal wished I would stop calling for updates however; they did comply when asked and there were times I can recall for both Cortney Burns and Wes Putman responded on emails after hours. That made me feel important. Kind of made me feel a little sorry for Wes Putman my final Loan Processor when I saw he was responding around 11pm on a Saturday for one of my questions. There were times I was stressed during the process but who wouldn't for such a big purchase. My agent says she is not going to use them again due to her being left out of the loop and didn't know what was going on. The funny thing is that when we started working with Sebonic, we had both read how there was a big issue with communication on many reviews. We talked about it and the both of us decided that saving between 2k and 3k for processing fees others would charge made it hard not to go with it. We accepted it was worth the pain in making sure we were on target. The part I think my agent forgot is that if she wanted information or had a question she needed to email or call Sebonic. Sebonic didn't really CC her with all the steps going on. They only sent it to me since I was the only one with the information needed. In the end, I was giving updates to my agent on when the close was going to happen. The agent was always playing catchup ........I think it was partly their fault too in that. Lastly, I ended up with a 200k loan at 3.25% rate for 30 year fixed. I know it's going to be one of the best rates I could have ever got. You should know that with that rate, I did not have to pay one penny out of pocket to close on this house. The Seller paid 3% of close or up to 6k. ( VA home buyer please be aware that sellers can pay upto 4% on a VA loan). Well guess what??? It covered all of my inspections...Everything and I mean Everything! Knowing the real cost that could have been out of pocket for me even with a VA loan would have been around 5k. This was a home run for me and to think It's Memorial Day Weekend. What a great weekend to be sitting on my deck cooking out and drinking a beer. Cheers to everyone involved in allowing me to experience owning my first home. Sincerely, Thomas Army Veteran

    By:   (Asheville NC)Reviewed On:

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  • (5) (3)

    Wasting my time and MONEY

    Talked me into my credit card info without all paperwork. Assured me that Remodeling was not a problem! They charged my credit card for appraisal. then stopped appraisal because of remodeling? Trying to get appraisal money back! Getting a lot of run around and delay? Cannot get supervisor contact info???

    By:   (Very dis gruntled)Reviewed On:

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  • (13) (3)

    Delays, Delays, Delays

    It took over 2 months to close after providing all of the paperwork within 1 day of request. Of course there was only a 30 day lock, so they milked another 4 weeks of extension fees out of me. I complained about their tactics and got all but one week of fees reduced. At this time I just wanted to end my misery, so I took their offer just to get rid of them. Very poor business ethics and practices.

    By:   (Upper Peninsula Michigan)Reviewed On:

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  • (5) (0)

    Great job!

    Yes, I recommend this lender

    I had a great experience with Sebonic,I was very nervous about using this lender, but after shopping around with local lenders and online lenders, I can tell you that I got the best interest rate and best closing cost and great costumer service from Sebonic. I will definitely recommend Sebonic to all my friends and family. Sebonic did an amazing job!!!

    By:   (Pembroke Pines, FL)Reviewed On:

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  • (9) (2)

    Terrible service

    I refi'd a mortgage through Sebonic and it was a terrible terrible mistake. It took them three months and even after that, I had to call individual employees at know what the status of the file is. No one seems responsible or responsive. Never use them

    By:   (new york)Reviewed On:

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  • (9) (2)

    Don't fall for the low rate.

    My Sebonic / Cardinal experience is the same as others. Good rate, 30 day lock. Upload all of the information same day, and then they drag. They finally start asking questions a few days before the rate lock ends. They say you need to pay to extend the lock because of the issues, which then makes the rate higher then others. I didn't pay the points. Just lucky they only took me for the appraisal fee.

    By:   (Texas)Reviewed On:

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  • (9) (6)

    Lender Hung Up On Me!!

    I spoke to a lender about getting a quote and told him specifically not to pull my credit score. He told me I was wasting his time and then proceeded to hang up on me. Horrible service and they should realize when shopping for a mortgage a person does not want to pull many hard inquiries.

    By:   (Charlotte, NC)Reviewed On:

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  • (9) (1)

    Low Rates, but Not Worth It

    I have done two refinance with this company (Sebonic/Cardinal) and I have had two different completely different experience with them. I have come to realize that if there is any work required on their part, their process will be horrific. One refinance I had was should have closed very quickly because there were no issues whatsoever. I submitted all the documents they asked for in a timely manner, but it still took 45 days to close. After you first deal with a Sebonic rep, you are then handed off to a Cardinal rep (who knows nothing about mortgages - he's just a middle person between you and the underwriter). Jason Freedman of NC handled all the correspondence and it was poor at best. Luckily, there were no surprises with this loan, so I was still able to close, even though it was late. They even tried to charge me for closing on the loan late, which was their fault, but they waived the fees (only after I asked them ton - twice). My second refinance was horrible! After I spent $500 on an appraisal, they came back and said that they were not able to verify that the commercial space of the condo building was less than 25% (requirement of the loan). After I spent some time with the property manager to verify the facts, Cardinal Financial (Jason Freeman of NC) realized that the loan wasn't going to close, and he never gave me a response as to the status of my loan. I called and left him 5+ messages asking him to call me back, but I never once received a phonecall back. I finally received one phonetical back from the Sebonic rep, Artie Melchionda, saying that he will check the status and I never heard from him either. They leave you hanging high and dry if there is any sign of a problem. When things look good, you will eventually close on the loan (even after they try to charge you for being late when it's their fault). But when there is one problem, you are on your own to figure it out, even after you spent the money. I gave them one extra star for actually closing on my one loan, but I would not go with them again, even if they are offering slightly lower rates. Most companies will match other company's rates, so that is the only reason I would call Sebonic.

    By:   (Fairfax, VA)Reviewed On:

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Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.   Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.
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