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Sebonic Financial Mortgages Reviews

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  • Pros
  • Free rate quotes
  • Privacy protection
  • Dedicated loan expert
  • Good customer service
  • Cons
  • Website not as informative as others

Sebonic Financial Mortgages

Sebonic Financial is a mortgage company striving to implement a new approach when it comes to home lending. They are one of the newest editions of their parent company called Cardinal Financial which has been in business since 1989. Sebonic Financial specializes in utilizing cutting edge technology to help them provide speed, accuracy, convenience and an affordable cost when it comes to applying for or an obtaining a mortgage. Potential homeowners are usually looking for a hassle-free and efficient process with a trusted lender. Let's take a look at what Sebonic offers.

An Overview

Sebonic is licensed to provide mortgage loans in every U.S. state except Massachusetts. They list their license numbers in each state openly on their site for reference. They provide conventional loans with fixed and adjustable rates, along with VA loans for current and former members of the military, Federal Housing Association loans for borrowers with low to moderate incomes, along with United States Department of Agriculture loans for homeowners who currently live or prefer to live in a rural community.

Interested potential homeowners can fill out the quote form on Sebonic's website to be connected to an experienced loan consultant who can answer questions, assist, and outline the entire process. The quote form can conveniently be filled out in just a few minutes.

Sebonic also refinances FHA and conventional loans for homeowners all over the country. If you currently have a mortgage, refinancing it for a loan with a lower interest rate can help you save money on your mortgage payments and possibly even lower them. Private mortgage insurance can cost you tens of thousands of extra dollars over the life of your loan which is why Sebonic seeks to help homeowners save money and minimize their costs through their streamlined process and industry expertise.

Below are some additional benefits that Sebonic offers:

  • Free rate quotes
  • Low-cost services - Sebonic attributes their ability to offer lower monthly payments and closing costs to their unique approach and technology
  • Privacy protection through their website - Sebonic implements new technology to make the mortgage process run more efficiently, protect your private information, and help you close on your property in less time.
  • Customers work with their very own loan expert and receive timely updates and ensure that the entire process runs smoothly and error free
  • Flexible customer services hours and real people answer the phone when you call

Factors to Consider

  • Concise and slightly vague website - Sebonic's website only does an average job of outlining their capabilities. While there is helpful information about their services, potential or current homebuyers will learn little about their rate structure along with answers to common questions that should simply be listed on the site.
  • Mixed reviews - Sebonic has an equal share of both positive and negative reviews regarding their ability to help customers obtain a mortgage they can be happy with. Some past customers have complained about things like unexpected delays, rate extensions, and extensive paperwork. While parent company, Cardinal Financial, has an A+ rating with the Better Business Bureau, Sebonic has no rating.

The Process

Sebonic outlines their process in just a few simple steps in order to make the experience faster and easier. The process of obtaining a loan is extremely important when you're purchasing a house because you could be required to meet the terms that you lock in for years to come. Thus, it's best to confident and completely informed when it's time to close.

Sebonic takes pride in having a loan expert keep you informed and involved every step of the way.

The first step involves learning more about your loan. After you fill out a free quote form, a loan consultant will contact you to explain your loan options and some rates to consider.

Next, you'll be ready to apply once you choose a loan option. Your loan consultant will help you navigate through the application and answer any questions you may have. The application takes about 30 minutes and even after you apply, there is no obligation to move forward if you change your mind.

After you apply, you'll be expected to submit the necessary documents needed to process your application. Sebonic's technology analyzes each application to create a custom list of documents you'll need to submit with a checklist. When you have your documents ready, you can upload them easily and securely through the website.

After the application is completed and all your documents are in for processing, you can sign your loan forms and mail or fax them in, or you can even e-sign your documents securely online if it's more convenient.

If at this point in the process, you'd like different terms or an alternate loan amount, Sebonic allows you to change your loan details simply without derailing the process. If you don't have any changes to make, Sebonic will finish up the process be offering updates and taking care of the finishing touches.

Verdict - Good

Sebonic brings a mix of pros and cons to the table in terms of their mortgage attainment process. For starters, their reach is wide even though they don't service one state and it can be reassuring to know that they hold specific licenses in many states and make an effort to secure customer privacy.

If you are looking for a conventional home loan, VA loan, or even an FHA loan, it seems like this company specializes in these types of mortgages. The process outlined on their website seems to be properly planned out with the intent to save homeowners money and time. Being able to upload documents in a secure manner can really help speed the application process along as opposed to the time and effort it takes to mail them in.

On the flip side, being licensed in so many states but not having a rating with the Better Business Bureau could raise some red flags unless Sebonic is included in their parent company's A+ rating. The high volume of negative reviews regarding Sebonic's service, timeline, and fees may also be unsettling to potential homeowners who base a lot of their decisions on customer satisfaction and retention.

However, it's good that Sebonic doesn't lock customers into the process early on, so if you are truly curious about their company and willing to learn more, you can also fill out their form for a free quote and speak with a loan consultant one on one.

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In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.