Sebonic Financial Ratings & Reviews

NMLS ID: 66247

Sebonic Financial

4.7 of 5 520 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. (488 of 520)

Customer Reviews

  • (2) (1)

    Avoid at all costs

    Started our refi 3 months ago, and for the second time, no one showed up for our closing, with no call, email, anything!!! WORST experience ever! Would gladly have paid thousands more if I had known! Started with after waiting 2 weeks for the appraisal, the first appraiser having a "family emergency" so had to wait another 2 weeks for another appraiser. We felt bad for the first guy, so we understood. This is when we first started to notice emails and phone calls not being answered. The only time we could reach anyone was to call their customer service line, and they would corner our rep. And then we would get circle answers, and promises of answers that never came. Then a glitch in paperwork came up due to a discharged bankruptcy years ago. Offered to handle it with guidance and were told they would take care of it. That was that. We were then told we would close Friday or Saturday, after only 6 weeks... Great! They will call us. No call Thursday. Friday we call 3-4 times, email, no answer. Still waiting by the phone Saturday, called, emailed, still nothing. We called and emailed Monday... No answer. Finally Tuesday for a "manager" who advised our rep was our of town and would get back to us the next day. Finally heard from him 2 days after that, and many emails and calls, and the bk paperwork came back to bite us. We had to handle this now. So we are now on our FOURTH extension, discussing something that was originally discovers the first week and we were told was not a problem. Then our rep gets in an "accident" so we are now dealing with the manager. We Also find out we will have to file the FIFTH extension, which they will it pay for but costs us almost another $900! WE took care of that, to avoid having to wait for them. We told them that day it would be 2 weeks. We close that, and they have done NOTHING to get it moving again. They needed the paperwork. So we send that to them on Friday, during business hours, for the second time because the attorney sent it to them as well. Monday was a holiday, Tuesday we call and email. I get an email back again asking for that paperwork. I send it a third time, and am told great, should close Wednesday since everything else is "done." Wednesday keep emailing and calling, all day. Re sending paperwork they have, but at least it's moving. Then... Nothing! Call customer care at 5:00 and reach the officers manager again to be told all looks good, we will call you in the morning to close tomorrow, we requested 12:00, she assured us that should be doable. Once we heard fro The closer, they advise they can't do that, so we agree on 8 pm. Bat 6:30 I happen to check my email to find an email for the manager asking for current credit card statements, which ones were not listed though. Ok.... I'm on the road, so I ask her if which ones, and if it can wait until I get home. I specifically ask if this will effect our closing since this is so last minute. She sends me the list, no other replace sw. I send her 4 more emails in the next hour asking if we are closing... I call the main line, customer care, and every other number we can find all with no answers. I have the email confirming the closing for tonight at 8 pm, and here it is 11:30 and no show still. Yes, I know they won't be here, and I am still hoping for tomorrow, but I'm so me I know I can't sleep. Please, save yourself the stress, sleepless night and frustration and take your business elsewhere. We started this June 16 and STILL have not closed, and can not get an explanation why.

    By:   (Littleton, CO)Reviewed On:

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  • (1) (1)


    Yes, I recommend this lender

    Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

    By:   (Marietta, GA)Reviewed On:

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  • (1) (1)

    purchase of 1st home

    Yes, I recommend this lender

    Sebonic was clearly the cheapest rate I found after speaking with multiple banks. My loan representative was clear and didn't have any charges or fees which made it very clear.

    By:   (Baltimore, MD)Reviewed On:

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  • (1) (1)

    Amazing company to work with, I will miss them.

    Yes, I recommend this lender

    Every time I had a question they were able to answer me. They were extremely helpful during the entire process of buying a home. My husband and I are first-time homebuyers and I was very reluctant and nervous about the whole process. They made it easy. I am so grateful that I chose them to help us with this beautiful opportunity. I would recommend them to everyone.

    By:   (Wooster, OH)Reviewed On:

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  • (10) (0)

    Please read if you're thinking of using them!!!!

    Overall horrible experience. When working to secure our business, the initial person at Sebonic Financial was very helpful and responsive. We were then contacted by someone at Cardinal Financial, which was a little confusing but not terrible at this point. They required some paperwork, naturally, and I was very proactive and diligent about having all of it ready, and was even thanked by the contact for doing so. She said I was making it easy, which I believe I was. She said everything was done, and I'd be contacted before closing by the final team. This was about a month before our closing date, which was set based on the lender's commitment to making that date. I inquired once a week with my initial contact at Sebonic (since it was totally unclear who I should be working with), and he assured me everything was just fine. Meanwhile, I received a complaint about Sebonic from our homeowner's insurance agent. He received a call from them, asking for a document which he had already sent. When he finally got a hold of them (he complained about their total unresponsiveness), he said they were tremendously unprofessional. Similar complaints came from my realtor in a couple of interactions. The Monday before our close (which was a Friday), I received an automated email response, saying my loan has been picked up by the final underwriting team, and a decision would be coming in the next few days. Obviously this was very concerning and surprising. I again called my initial contact at Sebonic (because it was still unclear who I should be working with), who again assured me everything was fine. For the sake of my time, I will simply say that it was clear they had not done anything on their end in processing the loan even though I had provided all the required documentation over a month earlier. If it was not for my constant inquiries and escalations, this closing would not have gone through on the closing date. We had movers scheduled based on that date, I had taken off of work, family was coming into town, etc. To top all of that off, as if that weren't bad enough, they goofed the final HUD and did not give us a $300 credit the buyer agreed to give us, so we had to reconcile that outside of the closing. Our realtor was more angry than we were since she had confirmed this two times with the lender. I promise you, I am a friendly customer and very patient. I realize mistakes are made and no one is perfect. The biggest complaint I have is that they were very unresponsive and totally unapologetic about their mistakes. While irritated, I was giving them the benefit of the doubt and looking forward to them fixing the mistake with a friendly attitude, etc. That did not happen, and they actually seemed annoyed that I was asking as many questions as I was. This was, without a doubt, one of the worst experiences I've ever had in my years as a customer (in any industry). I would not recommend this company to my worst enemy.

    By:   (Raleigh, NC)Reviewed On:

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  • (1) (2)

    Worked for me

    Yes, I recommend this lender

    After a bad try at a loan with Loan Depot it was a pleasure to deal with these people. Rate and costs were ok.

    By:   (Miami)Reviewed On:

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  • (1) (3)

    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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  • (7) (4)

    The MOST ill-informed loan officers!

    Yes, I recommend this lender

    Last week I called and spoke to a loan officer bc I had a special situation involving a personal BK that was discharged 4 years prior.. so per FNMA guidelines I was passed the waiting period and eligible for a new mortgage. I wanted to sell my house (iib) and before we even got to the loan qualification part.. the loan officer told me I could NOT sell my house as I am no longer the owner. The bank is the rightful owner since I went through bk. I told him he was wrong and I disagreed.. He check with his underwriter.. and confirmed he was correct. YOU LOST A LOAN BUDDY DUE TO YOUR LACK OF KNOWLEDGE! I would imagine other loan officers at Sebonic have the same training. DON'T WASTE YOUR TIME WITH THESE PEOPLE. GO TO A FIRM THAT FULLY UNDERSTAND THE BUSINESS!

    By:   (RALEIGH, NC)Reviewed On:

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  • (12) (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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  • (10) (3)

    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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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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