Sebonic Financial Reviews & Ratings

NMLS ID: 66247

Sebonic Financial

4.8 of 5 505 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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95% of our customers would recommend this lender. (481 of 505)

Customer Reviews

  • (1) (0)

    Excellent loan service

    Yes, I recommend this lender

    Sebonic Financial has done a great job for my new home loan recently. From the loan application/origination, processing, and closing, the lender, especially loan officer, Amanda Bruce, and loan processor, Michelle Cooper, worked so hard on my loan. The rate was lower that other lenders, and the closing cost was very low. The Amanda worked in the evening and the night to have my loan application, my loan pre-approval, and get my loan rate locked with so communications with me over phone and email. Michelle worked so hard with getting required documents for my loan processing. She was so patient and waited for my documents, and she answered so many questions of mine over phone and email. Also, the customer service was great and they helped me about my questions and directed my calls to right persons. And their portal was a great tool for document reviews, uploading, faxing, and other communications.

    By:   (Maple Grove, MN)Reviewed On:

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  • (9) (6)

    Quick to pull

    Yes, I recommend this lender

    I was looking for a VA specific refinance. There is a stipulation with VA loans I was unaware of that disqualified me for the program I was looking for. I presented all of my information and Woody and he told me to fill out a loan application. They ran my credit before looking to see if I qualified for the program I was applying for and he waited two days to respond to me after I asked him directly if my credit was run. When he did respond to one of my emails he was unapologetic and rude. UPDATE: This issue was escalated to Sebonic's parent company and they were very accommodating in finding a work around the issue that had us hung up.

    By:   (Eugene, OR)Reviewed On:

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  • (8) (0)

    Low rates, low closing costs

    Yes, I recommend this lender

    I chose to do our refinance with Sebonic because of the positive reviews on lendingtree, low interest rates and a lender credit that would reduce our closing costs. We began the process in mid-January and everything went smoothly in the beginning. I completed their online application, submitted our financial documentation (pay stubs, bank statements...) and we paid for and completed our appraisal. After Sebonic received our documentation and the appraisal, the process bogged down. I was told the underwriters were behind schedule about 3 or 5 days. I had to follow up several times with various people in different departments to find out the status of our refinance. It was difficult to know who to talk to about our loan status. Everyone I spoke to was friendly and professional. Our 30 day rate lock expired and was extended by 7 days for free. I contacted Sebonic and found out that the underwriter had completed a conditional approval. I spoke to our final processor who said that she was just waiting for some IRS tax transcripts. A few days later our extended rate lock was about to expire and to extend it for 7 more days we would have to pay $466. I had to reach out to the mortgage broker to confirm that we didn't have to pay this fee. This fee should have been waived automatically. Then we got an updated good faith estimate but lender credit ($480) was less than what was initially promised ($950). I again had to contact the mortgage broker to make sure we were getting the promised lender credit. We were finally able to close and we signed the closing papers 39 days after we started this process. We are happy with the interest rate, closing costs and lender credit. When I spoke to Sebonic everyone was professional and polite. I just wish that someone at Sebonic was staying on top of things and coordinating our loan rather than me following up several times to find out what was going on. I also wish they were more upfront about the delays.

    By:   (Southern California)Reviewed On:

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  • (14) (9)

    A ok

    Yes, I recommend this lender

    A ok!

    By:   (Katy, Texas)Reviewed On:

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  • (7) (6)

    Great for the uncomplicated borrower.

    Yes, I recommend this lender

    Although I was unable to consummate the loan process, for reasons I'll explain, they tried to get it approved. Even though I earn a significant 6 figure salary, I am paid buy my corporation who is paid by my law firm. The earnings being completely distributed each year yielded 0 income. Their underwriters could not wrap their head around that. Bottom Line, If you are not in that situation it should be a short and easy process. If you are, then let them know ahead of time so they can be upfront. Otherwise they are very well organized and do their best to find you the best rates.

    By:   (53125)Reviewed On:

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  • (29) (7)

    Most Stressful ReFi We have Ever Done

    I will open by saying that when all was said and done our refi closed with the terms agreed to. However... we have done several refi's through the years and this was hands down the most stressful one we went through. I had to stay on top of the process the WHOLE time - something I have never had to do. I can't imagine what would have happened if I wasn't so diligent in ensuring - and at times facilitating - that things were moving along. Our loan processor was very kind when I was able to get a hold of her, but getting a hold of her was no easy task. I'm a patient person and totally understand that "stuff happens", but I have no tolerance for someone not at least taking 30 seconds to reply with, at minimum, "I got your message, I'm swamped, and will get back with you just as soon as I can." I ultimately had to reach out to someone else to get the service that I needed. The process took much longer than expected, in part due to documents not being submitted in full by Sebonic/Cardinal. (We subordinated our HELOC in the refi.) When it came time to close, I was told I would have to PAY $2,000 in costs; I was shocked! I was told the loan would cost less than half that and that the amount would be rolled into the new loan (except for the appraisal). Again, after making multiple phone calls expressing my frustration (in a firm but kind manner), numbers were eventually adjusted so we would not have to pay out of pocket. As I said at the beginning, all worked out ok in the end, but because of the frustration and stress we experienced, and the "babysitting" I had to do throughout the process, I cannot in good conscience recommend them. They clearly have some very positive reviews and happy customers; we, unfortunately, did not have the experience they did.

    By:   (Orange County, CA)Reviewed On:

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  • (6) (4)

    Easy Refinance

    Yes, I recommend this lender

    Wow, I never thought I'd praise a mortgage lender, but Sebonic did an amazing job. Everything was simple from the moment I contacted them to the moment I closed. Beyond the initial phone call, everything was done online through a secure portal with occasional emails. Closing couldn't have been more convenient as it was in the comfort of my home, and I had been sent the entire closing package electronically in advance so I could review it at my leisure. Great rate, very reasonable closing costs, and very responsive staff. Thank you very much!

    By:   (Minneapolis, MN)Reviewed On:

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  • (7) (1)

    Quick and Great rate

    Yes, I recommend this lender

    We recently used Sebonic to get us a home loan. The team at Sebonic was very professional, knowledgeable and through in the processing of our loan. They were also able to get us the best rate of any company that contacted us through lending tree. I would recommend this company.

    By:   (Cary, NC)Reviewed On:

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  • (6) (1)

    Fast and Helpful

    Yes, I recommend this lender

    I had never heard of Sebonic before. They offered the best rate (which was matched by a few other companies), but I decided to go with Sebonic anyhow. The whole loan processed and was closed/signed in under 3.5 weeks. I was very satisfied.

    By:   (South Dakota)Reviewed On:

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  • (16) (1)

    Unbeatable rate and good service

    Yes, I recommend this lender

    I was very satisfied with the experience except for a few things, which dropped the rating a bit. I asked from the beginning whether I would be working with one person because I did not want to be bounced around. I was told that I would have the main loan originator (LO) and then a back-end processing contact. As it turned out, I ended up interacting with 3 or 4 different people throughout the process. I was happy that I could always fall back on my loan originator to answer questions. He was, by far, the most reliable and helpful. The processing team made a mistake in calculating the amount of taxes due at closing. I followed up with my LO regarding this, and it still wasn't determined at that time that anything was wrong. It was caught at signing by the title company. It meant I had to go out and get another certified check that day. It was just unnecessary stress. I wish someone would have kept me in the loop better about what was going on. I had to constantly follow up with the person I had been handed off to in order to find out what was happening with the loan. I had a pretty short timeline, so I wanted to make sure it could be met. No one was giving me any details how my loan was processing. I was expecting to get a lot of requests for additional documentation, and I wanted to make sure I had time to provide it. As it turned out, I did not have to provide anything extra (which was fantastic), but it would have been nice to know that more than a couple days before closing. These all turned out to be pretty minor things. I would definitely consider using Sebonic again. In fact, I already referred a family member to them and she had a pretty good experience too!

    By:   (Beaverton, OR)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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