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Sebonic Financial

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LAST UPDATED: June 3rd, 2022

Sebonic Financial, a Cardinal Financial company, is an online mortgage lender that has been providing home loans for over 30 years and focuses on reliability and efficiency using both proprietary technology and human expertise. The company strives to make obtaining a home loan simple, quick, and secure for customers.

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If you are interested in learning more about what customers have said about their experience with these loans then check out Sebonic Financial reviews below.

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The Good

  • Loan Products
  • Customer Service
  • Online Convenience
  • Financial Calculators

Loan Products

Sebonic Financial offers conventional fixed-rate mortgage loans and adjustable-rate mortgage loans (ARMs), in addition to a variety of other loan products:

  • Conventional loan
  • Jumbo loan — amounts up to $3 Million with low interest rates
  • VA loan — 0% down payment, low interest rates, no monthly private mortgage insurance (PMI)
  • FHA loan — as little as 3.5% down payment, minimum credit score of 550
  • USDA loan — 0% down payment, low/moderate income may qualify

It should be noted that Sebonic Financial's Jumbo loan limit is extremely high compared to most other loan brokers. The Jumbo loan standard lending limit in many states across the country is around $750,000. At Sebonic Financial, the Jumbo loan limit can reach up to $3 million. If you are in the market for a multi-million dollar house then Sebonic Financial will be able to help.

Another helpful service provided by Sebonic Financial is the option to refinance a conventional loan into an FHA loan. This is can be especially beneficial for borrowers with low credit scores who would like to save more money on their monthly payment.

Eligibility depends on factors like your credit report, income, and any existing outstanding debt. In addition to new home purchase loans, Sebonic Financial provides refinancing services as well.

Customer Service

Sebonic Financial keeps borrowers in the loop throughout the entire home loan process by providing frequent communication and updates from your assigned loan officer. These loan consultants are meant to balance communication and efficiency, taking care of customer needs while working quickly.

Sebonic is prompt to contact prospective borrowers. When you fill out a form for a free rate quote, a loan specialist will contact you within minutes during business hours.

Online Convenience

Sebonic Financial makes it easy to apply for a home loan online. You can upload and e-sign documents, and receive real-time updates about your loan throughout the entire process.

In addition, you can easily manage your mortgage and make monthly payments through an online account supported by Sebonic's partner, Dovenmuehle Mortgage, Inc. It is important to note that while you can make online payments, your first payment must be mailed to Cardinal Financial Company, Limited Partnership.

Financial Calculators

It's convenient that the Sebonic website features a mortgage calculator for prospective borrowers to input various financial details and see how a monthly payment changes based on factors like home price, loan term, down payment, interest rate, property taxes, and home insurance.

In addition, the refinance calculator illustrates how much money you can save on your mortgage loan and when you will break even based on the original loan amount and original APR, new loan amount and APR, and applicable closing costs and fees associated with the mortgage.

The amortization calculator shows how much you pay in interest versus the principal amount based on the loan term.


The Bad

  • Unpublished Rates
  • Mail In First Payment

Unpublished Rates

Sebonic Financial mortgage rates, fees, or estimated closing costs aren't published on the company's website. The default mortgage rate on a Sebonic Financial mortgage is approximately 3.75 percent (a calculation based on a Sebonic mortgage calculator result), but rates can fluctuate frequently, and it is unclear if that rate is fixed or variable.

Although rates aren't disclosed upfront, you may be able to get an estimate of what rate you would get by entering your information into the mortgage calculator provided on the Sebonic Financial website.

Mail In First Payment

If you are making your first payment on your Sebonic Financial loan, you must mail it in. This could be inconvenient for some borrowers, especially those who prefer a complete online payment process.

However, existing and/or returning Sebonic Financial customers can make all payments online through their online account.


The Bottom Line

Sebonic Financial provides several loan options and prompt customer care. However, the company has not disclosed details regarding origination fees, closing costs, or interest rates on its website, making it difficult to know upfront how much you could expect to pay on a mortgage loan. However, Sebonic Financial does provide helpful calculators that can show you more personalized information on what you could expect to pay for your mortgage, based on your home price, down payment, etc.

Sebonic Financial reviews are currently limited, making it difficult to assess the company confidently. We recommend looking into a different, highly-rated mortgage lender or contacting a Sebonic Financial mortgage professional to discover if it is the best choice for you.

If you have borrowed from this company, please leave a Sebonic Financial review and tell us about your experience.

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7 Reviews

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Steve Ashby OR

I had a great experience with Sebonic refinancing my home. I found them through a Google search and they offered the best terms etc. As anyone who has clicked on a "refinance now" button knows you will automatically start receiving solicitations from a LOT of companies. I told the ones I engaged with what Sebonic was offering and no one could match it. During the process I found out that Sebonic is a subsidiary of Cardinal and all my payments etc go through Cardinal and they have been great to work with. Easy to set up with online payments and there have been no issues.

2 years ago

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Marla Fresno, CA

Worst experience ever. One excuse after another. I have ficos over 800 No cash out refI. In SS. No verifications needed Equity settlement co us horrible. Fidelity took forever to get a prelim. Lien showed from 1999. I sent proof paid. They would not accept. They couldn’t research that a recon was recorded in2092 when it was paid off. I kept records and had to send to them Waiting to see what is next as to why we can’t close. 45 days on a refi and still not close. 17th will be 60 day Don’t use them they are horrible unless you have a bad rate then they might close your loan

4 years ago

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Timothy Weaver Vilonia, AR

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 with a supervisor, She basically says they can't trust my financial adviser and need to get all the info they asked of him from the company itself!! I blew up!! Only two conclusions: They are incompetent and/or they Keep delaying to collect as much in fees as they can until they finally close it. I will NEVER recommend this company!! NEVER!!

4 years ago

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Xerxes Oklahoma City, OK

Sebonic Financial is a revolving convolution of stress. I got initial transparency to start, after that, mixed information, fork in the road answers, lead on to believe. I am African-American and said so on my application, also single-never married. The financial partner in Sebonic, had me down as White male and needed paperwork showing my divorce. I corrected them 3x, after that. I was done, you cannot even get that right. Then I was advised that Sebonic does not give out GFE (Good Faith Estimates), that is because they technically were renamed: LE (Loan Estimate). After advising Sebonic of what I discovered and threatening to discontinue, I was quickly surprised with a GFE (data in it was convoluted as well). Overall experience, Terrible. i did not stick with them, went to local lender that provided true transparency.

7 years ago

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Lizley Costa Mesa, CA

I used this vendor due to the great reviews on bankrate however they are awful. The originator only called me back once, only when I was so frustrated that I was moving the loan. Extremely poor follow up and then your only choice is to call their cs call center. Even though I had followed up and sent all items requested of me, at the very last minute was told my loan would not close via an automated message and would be charged more for their mistake. I called this company so very many times and ended up completely frustrated. I've owned several homes and refinanced multiple times and this is by far the worst experience I've ever had. They can't close a loan in 45 days!! The one stars ratings are correct. Do not make the mistake I did.

7 years ago

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Janice Ferwerda Denver, CO

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.

2 years ago

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Tom Prescott, AZ

6 weeks into the process with the highest amount of documentation I have ever provided a loan company it fizzled. No communication back. Just a request that I sign new terms costing me an additional $10K with a 1/8 higher interest rate. Huge Waste of time and money.

4 years ago