Sebonic Financial

No sense of urgency

They have offloaded the entire processing of the loan to the customer. They have no sense of urgency and expect you to do the job of their mortgage processor. They were unable to approve a 200k loan for someone with millions in cash. They do not follow instructions and despite being warned about potential issues, ignored them ultimately completely failed to close the loan.

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slow process & did not honor rate lock

All of the individuals I dealt with at Sebonic were pleasant, but it doesn't make up for the fact that the company decided not to honor their rate lock. A rate lock is a legally binding contract, and I think it is unacceptable for a company not to honor that agreement, even if rates change. The individuals I dealt with apologized and said that they had argued with management to honor their contract, but that doesn't make up for the company stringing me along for more than 2 months.

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Poor communication

I was happy with what they offered but I now know that it was too good to be true. Once I starting the loan process and moved into underwriting, I saw a lot of issue, mainly in their organization and communication. What finally caused me to leave was the fact that my paperwork was in underwriting for over a month and the person who was handling it ignored all of my emails up until a week before the lock end date arrived. This was a stressful process.

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Excellent Responsiveness and Customer Service

The entire process was very straight forward. All I had to do was upload the necessary documents and e-sign all of the application documents and waivers. When something was needed, I would receive and email and quickly upload or sign the document.

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Concerned, Efficient and Knowledgeable Professional

This is our second refi, first with Sebonic and Tamara. Tamara's dedication to responsiveness was extraordinary and made this transaction much smoother than our first experience. Her attention to detail made us feel as though we were her only client and her responsiveness to every curveball crazy question I had made it clear she has the patience of Job and the experience necessary to provide accurate answers every time..... Thank you, Tamara!

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Don't Risk It! Use A Better Lender.

If my first transaction had been with sebonic financial - I would have never dealt with real estate again. Luckily, they are my 7th and by far the worst I have dealt with. This is a warning to anyone considering using them.
Ran my credit 3 times over the course of 1 month. When I got assigned to loan officer she immediately told me she was going out of town next week and I wouldn’t be able to reach her. We could continue the process the following week. I followed up multiple times. The day before closing they told me they couldn’t do my loan anymore due to a change in covid regulations.
I followed up with 1 bank and 1 broker with the situation and they both told me they could do my loan even with new covid regulations. I’m currently approved with another lender who is aware of all restrictions and closing in 2 weeks.
Save your time and money and go with someone better. To top it off, this whole process took about 2 month due to their slow response times and I’m out $500 on an appraisal that can’t be used at another bank.

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Low rate, closed quickly, great experience

I bought my first home, a townhouse, last year 2019. Being in an apartment with my wife, me, and 3 kids was getting to be too cramped. For everyone's sanity, we looked at a townhouse last year (2019), and used Sebonic. My buyer's agent was upset when we told her that we were going to not use her affiliated mortgage company, but Sebonic's rate was almost 1% lower, which is a lot of money. We had only 3 weeks to close (which is extremely fast), but Sebonic's online application system allowed us to upload all the documents quickly. We put 5% down, and paid about another 2.5% in various costs (law office, title search, etc). We would login to Sebonic everyday in the morning, and each night, and if there was any form needed, we'd get it completed the same day and sent back to Sebonic. The seller's agent dropped the ball on a bunch of things, but the seller was just barely able to get all their paper work done the night before closing, in spite of their agent, so it all worked out. This was before COVID-19, or else the closing would have been delayed. With COVID-19 my guess is the process may take longer. My wife and I have a credit score of 825 , we weren't getting a jumbo loan (another bank said we could have got a jumbo loan for twice the amount of the loan we got, but we wouldn't have been able to pay a huge jumbo loan monthly payment, unless we rented out rooms or something), we had no other loans beside credit cards that we pay off each month, I have a good paying job with over a decade of stable work history, so getting approval was no issue.

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