Mortgage Rates

June 29, 2015 11:26 PM Eastern

Refinance rates now in Woodbridge, NJ[Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

FHA 30 Year Fixed Rates as low as

Interest Rate
3.375%
APR
4.337%
Monthly Payment
$1,019
Sebonic Financial
Interest Rate
3.375%
APR
4.337%
Monthly Payment
$1,019
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $885
Estimated Mortgage Insurance Payments $134
Total Monthly Mortgage Payment $1,019
Lender Fees $6,028
Lender Credit $0
Total Closing Fees* $6,028
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

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.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

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: Refinance (Shoreline, WA)

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: Thomas (Asheville NC)

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: VERYverydisgruntled (Very dis gruntled)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
Interest Rate
3.750%
APR
3.835%
Monthly Payment
$927
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $927
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $927
Lender Fees $2,062
Lender Credit $0
Total Closing Fees* $2,062
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews

15 Year Fixed Rates as low as

Interest Rate
3.000%
APR
3.168%
Monthly Payment
$1,382
Sebonic Financial
Interest Rate
3.000%
APR
3.168%
Monthly Payment
$1,382
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,382
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,382
Lender Fees $2,320
Lender Credit $0
Total Closing Fees* $2,320
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

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.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

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: Refinance (Shoreline, WA)

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: Thomas (Asheville NC)

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: VERYverydisgruntled (Very dis gruntled)
See All Reviews
Total Mortgage Services
Interest Rate
2.875%
APR
3.224%
Monthly Payment
$1,369
(844) 334-6186 Contact
Total Mortgage Services
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,369
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,369
Lender Fees $4,790
Lender Credit $804
Total Closing Fees* $3,986
*Other 3rd party fees may apply
Total Mortgage Services
Email Lender

About the Lender

Since 1997, Total Mortgage Services has been committed to making mortgages easier.  We combine the personal service and integrity of a local lender with the same low rates and wide variety of programs that you would expect from a big bank.  Total Mortgage is licensed in 32 states plus Washington, DC, and offers conventional, adjustable, jumbo, FHA, FHA 203K, USDA, condo, and co-op mortgages, among others.  We’re a Fannie Mae and Freddie Mac Seller/Servicer, as well as a Ginnie Mae Issuer, we have access to some of the best rates and programs in the country.  Because we are smaller and more nimble than the big banks, we’re able to close most of our loans in 30 days or less.  We’re experts in mortgages because mortgages are all we do.

 

Total Mortgage believes strongly in responsible lending.  We want to help you attain financing that you can afford – today, tomorrow, and over the life of the loan.  We understand that you’re not just looking for a home, but a trusted financial partner to help you realize your dream of homeownership.  Total Mortgage believes you deserve a loan that is as individual as you are.

 

With an A+ rating from the Better Business Bureau and a customer service satisfaction rate over 95%, we stand firmly behind our product and service and feel confident that if you use us for your home loan, you will recommend us to your friends and family.  This dedication allowed us to be named to the Inc 5000 list of America’s fastest growing companies for four consecutive years.  We want the opportunity to earn your business, we want to be your lender for life.

Total Mortgage Services
Email Lender Write a Review

Lender Reviews

Total Mortgage Services

Yes, I recommend this lender

I have done over 10 loans with Total Mortgage and have referred all my family and friends. They do everything under one roof, processing, Underwriting and their closing department is all in one building! This made all my transactions flawless. If I could give them a 1000 start rating I would. Tremendous tremendous company!

By: Jason (New Jersey)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
Interest Rate
3.000%
APR
3.144%
Monthly Payment
$1,382
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,382
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,382
Lender Fees $1,986
Lender Credit $0
Total Closing Fees* $1,986
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews

5YearARM Rates as low as

Interest Rate
2.500%
APR
3.024%
Monthly Payment
$790
Total Mortgage Services
Interest Rate
2.500%
APR
3.024%
Monthly Payment
$790
(844) 334-6186 Contact
Total Mortgage Services
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $790
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $790
Lender Fees $4,484
Lender Credit $1,110
Total Closing Fees* $3,374
*Other 3rd party fees may apply
Total Mortgage Services
Email Lender

About the Lender

Since 1997, Total Mortgage Services has been committed to making mortgages easier.  We combine the personal service and integrity of a local lender with the same low rates and wide variety of programs that you would expect from a big bank.  Total Mortgage is licensed in 32 states plus Washington, DC, and offers conventional, adjustable, jumbo, FHA, FHA 203K, USDA, condo, and co-op mortgages, among others.  We’re a Fannie Mae and Freddie Mac Seller/Servicer, as well as a Ginnie Mae Issuer, we have access to some of the best rates and programs in the country.  Because we are smaller and more nimble than the big banks, we’re able to close most of our loans in 30 days or less.  We’re experts in mortgages because mortgages are all we do.

 

Total Mortgage believes strongly in responsible lending.  We want to help you attain financing that you can afford – today, tomorrow, and over the life of the loan.  We understand that you’re not just looking for a home, but a trusted financial partner to help you realize your dream of homeownership.  Total Mortgage believes you deserve a loan that is as individual as you are.

 

With an A+ rating from the Better Business Bureau and a customer service satisfaction rate over 95%, we stand firmly behind our product and service and feel confident that if you use us for your home loan, you will recommend us to your friends and family.  This dedication allowed us to be named to the Inc 5000 list of America’s fastest growing companies for four consecutive years.  We want the opportunity to earn your business, we want to be your lender for life.

Total Mortgage Services
Email Lender Write a Review

Lender Reviews

Total Mortgage Services

Yes, I recommend this lender

I have done over 10 loans with Total Mortgage and have referred all my family and friends. They do everything under one roof, processing, Underwriting and their closing department is all in one building! This made all my transactions flawless. If I could give them a 1000 start rating I would. Tremendous tremendous company!

By: Jason (New Jersey)
See All Reviews
Sebonic Financial
Interest Rate
2.625%
APR
2.997%
Monthly Payment
$804
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,178
Lender Credit $0
Total Closing Fees* $2,178
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

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.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

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: Refinance (Shoreline, WA)

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: Thomas (Asheville NC)

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: VERYverydisgruntled (Very dis gruntled)
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Consumer Direct Mortgage, a division of FirstBank
Interest Rate
2.625%
APR
3.008%
Monthly Payment
$804
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,444
Lender Credit $0
Total Closing Fees* $2,444
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
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About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
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Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

Monthly | Daily

Mortgage Rate Lock Recommendation

June 29 2015
  •   Float if closing in 7 days:
    Rates may be heading down
  •   Float if closing in 15 days:
    Rates may be heading down
  •   Float if closing in 30 days:
    Rates may be heading down

LendingTree has again changed its rate lock recommendations and is now suggesting borrowers allow their rates to float. If you've read any headlines or seen a news report today, you'll already know why: it's all to do with the Greek (economic) tragedy playing out in Europe, which took a shocking turn over the weekend.

Last-ditch talks aimed at resolving the crisis broke down on Saturday, and there now seems effectively no hope that Greece will make its $1.77 billion debt payment to the International Monetary Fund when it falls due tomorrow. Default seems all but inevitable, and banks are closed in the country until next Monday to prevent a run. Many believe Greece is soon going to be forced out of the eurozone (the groups of countries that use the euro as their currency) and possibly the European Union (EU) itself.

If this were just a local issue, it would have little effect on American mortgage rates. But it may not be. Although Greece is a very small country, and the eurozone has taken steps to ring-fence any fall out from an exit, so-called contagion could yet fundamentally undermine the eurozone and impact foreign creditor banks. That could, in the view of some economists, set off a global financial crisis that would make the collapse of Lehman Brothers look like a picnic in the park. Both President Obama and Treasury Secretary Lew intervened over the weekend to offer help in reaching a resolution.

When facing such extreme threats, spooked investors usually turn to U.S. Treasury bonds as the safest haven for their money. That extra demand increases the "price" of those bonds by reducing their yields. And American mortgage rates are closely linked to the yields of 10-year U.S. Treasury bonds. When the latter go up or down, mortgage rates almost always follow, though not necessarily instantaneously. So, in theory, there's a good chance of bond yields tumbling, soon followed by mortgage rates. In practice, the fall may be less dramatic than that, or may even hardly happen at all. It's not as if Greece's problems have sneaked up on investors: they've been the stuff of headlines for months. And the prospect of the grim reality faced today has been trailed for weeks. So, many investors may already have taken defensive positions, while others might think the consequences of a Greek default could be less severe than is widely anticipated. Either of those might mean fewer are going to be taking panic measures over the coming days.

Still, some falls in bond yields and mortgage rates seem likely. On Friday, yields for 10-year Treasury bonds closed at 2.49 percent, the second-highest level in 2015, and just one basis point below the highest: 2.50 percent reached on June 10. That hardly suggests the widespread adoption of defensive positions. Perhaps on Friday some investors saw the looming risk and shrugged it off, assuming either Greece or its creditors would pull back from the brink. If so, they could be scrambling this morning. Certainly, markets in Europe, Asia, and Australasia reacted violently overnight to the news from Europe.

To give you some idea how Wall Street is responding, at about 9:30 a.m. ET this morning, that 10-year bond yield was down to 2.39 percent, according to CNBC's tracker. That's a long way down from Fridays' close (2.49 percent), but above last Wednesday's 2.38 percent. So it's hardly falling off a cliff. If the fall continues to be this gentle, it may be necessary to revisit the new mortgage rate lock recommendations very soon.

Just to prove it's not only Europe that's currently in trouble, McKinsey published its latest economic survey on Friday, which revealed, "Executives in emerging markets have grown less optimistic about the state of their home economies than they were in 2014." Meanwhile, closer to home, Puerto Rico Governor Alejandro García Padilla has said that his island cannot repay the $72 billion it now owes, and is currently in a "death spiral," according to The New York Times. Finally, those seeking more cheerful news should definitely avoid the annual report, out yesterday, of the Bank for International Settlements (the so-called central banks' central bank), which is a study in pessimism. It warns that central banks like the Fed have used all the tools in their boxes to attempt to fix the last financial crisis and have nothing left with which to address the next, assuming that comes along anytime soon.

No important domestic economic data are due to be published today, which is probably just as well. There's already enough excitement in the markets.

The average rate for a 30-year fixed-rate mortgage during week ending June 25 was 4.02 percent with an average 0.7 point, according to Freddie Mac. It was 4.00 percent with a point of 0.7 during week ending June 18, and 4.04 percent seven days before that.

Forecasting the direction of mortgage rates is difficult at the best of times. Something that might be expected in some circumstances to push both them and bond yields up can in others exert a downward force -- and vice versa. Those forecasts are especially perilous when the future prospects of economies around the world are so hard to judge, and volatility is a feature of most markets. However, absent more shock developments, few expect large changes in mortgage rates within the scope of these rate lock recommendations.

What Does it Mean to "Lock" Your Mortgage?

"Locking" your mortgage means that you and your lender have agreed on an interest rate and price for your home loan. Once your loan is locked, that's the rate and price you get, regardless of what happens in the financial markets. If rates go up, you're protected but if rates go down, you won't benefit either -- you close your loan at the rate you've locked and you can’t change it. Locks have expiration dates ranging from 30 to 60 days or more, and the longer your lock period, the more it costs. If you don't close your loan on time, you could end up paying a higher interest rate.

When Should You Lock?

You can lock in your loan at any time during the process. Until you lock your interest rate, you are said to be "floating" your mortgage. The only rule is that you have to lock in before you can close on your purchase or refinance.

The decision to lock or float your loan can have a long term impact so it’s important you make the right choice. That’s why we offer a quick rundown of the key factors that drive mortgage rates today and everything you need to know.

Mortgage Rates by State

Mortgage rates can vary a lot between lenders on any given day. So, if you only get one mortgage quote, you won't have any idea if there's a better deal out there. That's why the best way to get a mortgage rate it to request quotes from multiple lenders and compare interest rates, loan terms and closing costs. It puts you on in charge and keeps the banks competing to get you the best rate possible. Remember, even .1 percent can amount to thousands of dollars over the course of a loan. Make sure you shop around!

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