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Sebonic Financial Review


ConsumersAdvocate.org Rating: 3.6 / 5 (Very good)
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Sebonic Financial is a North Carolina-based company founded in 2013 to offer online mortgage lending solutions for home loans.

They're a direct mortgage lender that offers mortgage refinancing for conventional, FHA, USDA and expanded loans via their online service, which is quick and reliable.

They have a five-star rating with TrustPilot.
 
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How is Sebonic Financial rated?

Breakdown

3.8/5
Loan Variety
3.5/5
Ease of Process
3.5/5
Customer Service and Reputation
4.0/5
Discounts and fees

Overall Rating: 3.6 / 5 (Very good)

Despite being a relatively new mortgage lender, founded in 2013, Sebonic Financial has quickly developed a reputation for excellent service and good rates.

They don't offer cash-in or cash-out refinance options, and the specific information on their rates and terms is quite slim on their website, but they do provide every type of rate and term loan available.

All in all, they are a very good option for your refinance.

Loan Options

Lender Type
Lender
Loans Offered
Rate & Term
Loan Programs
FHA
VA
Conventional
HARP
Jumbo
USDA

Loan Variety - 3.8 / 5

Sebonic Financial is a North Carolina-based company that offers online mortgage solutions for their customers' home loan needs.

Though they don't provide cash-in or cash-out mortgage refinance loans like other lenders, their mortgage refinance options include FHA, VA, HARP, USDA, conventional, and Jumbo loans.

However, their website doesn't offer any sample information about loan specifics, until a customer actually fills out an application and divulges personal information.

Application Process

Minimum Credit Score
620
FHA Minimum Credit Score
580

Ease of Process - 3.5 / 5

Sebonic Financial's application process is simple and assisted every step of the way by professional loan originating and processing officers.

Customers rave about the company's helpful, attentive service, which more often than not, results in a quick approval and financing.

Sebonic Financial Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
66247
Nationwide Mortgage Regulatory Actions
1
NMLS Collection Date
2017-07-17
Total VA Loans Written (Q1 2017)
371 loans
Total VA Loan Amount (Q1 2017)
$109,728,081

Online Reviews

Trustpilot Trustscore
9.4
BBB Rating
A+
BBB Positive Reviews
99
BBB Negative Reviews
24
BBB Neutral Reviews
3
Date Collected
2017-07-17

Customer Service and Reputation - 3.5 / 5

Though Sebonic Financial has one regulatory action with the Nationwide Mortgage Licensing System, this is well below average for the industry.

They have overwhelmingly positive customer reviews on both TrustPilot (excellent 9.4 score), and the Better Business Bureau.

Contact & Additional Information

Homepage URL
https://sebonic.com
Company Phone
(855) 561-4944
Headquarters Address
3701 Arco Corporate Drive, Suite 200, Charlotte, NC, 28273
Year Founded
1987

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Customer Comments & Reviews

Loading Reviews ...
K
Kim
4/9/2021
Horrible Horrible Horrible. Read the bad reviews about Sebonic (aka Cardinal) Financial and BELIEVE IT. The experiences those 1-Star reviewers had are similar to ours... ie. dragging out the process for literally months, no communication- unless we initiated it with them...Yet our credit and work history are stellar. We finally backed-out of our refinance. How this company remains in business is a mystery. The "5 Star" reviews are HIGHLY suspect.

jcferwerda
3/30/2021
I cannot give a single star. Similar experience to the review below. Tremendous lack of response to questions. Overall communication from David Steel, loan originator, and Brandon Walsh, Production Manager was vague and didn't address specific questions. Required online process is cumbersome, non specific, and ineffective for the consumer. Began process Feb. 11 locked in rate including APR for a MAR. 30, 2021 closing. APR changed and as of MAR 30th, no closing date scheduled. Fed up with all the inadequacies and unmet expectations set up by Sebonic.

Tim W
5/28/2019
TWO MONTHS!! Rate locked for 6 weeks. Started sending in requested info. Always some problem with it so more and more info sent. We were told we didn't have to pay off anything!! Rate lock expires. Fees to lock in a new rate. More info requested. More problems. ( They NEVER just sent a list of all they required.....just one or two items per week ) Rate lock expired. More fees. They requested a letter from our financial adviser who set up our annuity. He submitted it. A week later, they now wanted ANOTHER letter confirming the amount of the annuity. More delays. Then, suddenly, we have to pay off our revolving gas credit card...rate lock expires...more fees. Then, after demanding to speak... Read More

S
sashaty
12/2/2017
Got refin with promised best available numbers professionally with min paperwork

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