Sebonic Financial Mortgage Review 2020

Good for: borrowers who want a loan with flexible down payment and credit score requirements.

Beth BuczynskiAugust 7, 2020

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Our Take


NerdWallet rating 

The bottom line: Sebonic Financial offers a standard variety of mortgage types and products, and the convenience of a digital application process. Sebonic doesn’t publish mortgage rates online or offer home equity loans or lines of credit.

Sebonic Financial

Sebonic Financial: NMLS#66247

Min. Credit Score


Min. Down Payment


Loan Types and Products

Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA

Pros & Cons


  • Offers a variety of online conveniences, including a digital application and loan process updates.

  • Offers a variety of mortgage options, including FHA, VA and USDA loans.


  • Mortgage interest rates aren't published online.

  • Doesn’t offer home equity loan products or renovation mortgages.

Compare to Other Lenders

Min. Credit Score


Min. Credit Score


Min. Down Payment


Min. Down Payment


Loan Types and Products

Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA

Loan Types and Products

Purchase, Refinance, Jumbo, Fixed, Adjustable

Full Review

Due to the coronavirus pandemic, getting a mortgage may be a bit of a challenge. Lenders are dealing with high loan demand and staffing issues that may slow down the process. Also, some lenders have increased their fees or temporarily suspended certain loan products. If you can’t pay your current home loan, refer to our mortgage assistance resource. For the latest information on how to cope with financial stress during this pandemic, see NerdWallet’s financial guide to COVID-19.

Sebonic Financial at a glance

Sebonic Financial — a division of Cardinal Financial — is a consumer-direct lending company that aims to provide a fast, competitively priced mortgage experience. Though Cardinal has been around since 1987, the Sebonic brand launched in 2013 after an ownership change.

Here’s a breakdown of Sebonic Financial’s overall score:

  • Variety of loan types: 4 of 5 stars

  • Variety of loan products: 4 of 5 stars

  • Online convenience: 5 of 5 stars

  • Rates and fees: 3 of 5 stars

  • Rate transparency: 1 of 5 stars

Sebonic Financial loan types and products

Sebonic Financial offers a full nonbank selection of fixed- and adjustable-rate mortgages, including FHA, VA and USDA loans. The company also offers refinancing options and jumbo loans for houses priced above current conforming loan limits.

Sebonic Financial online convenience

Sebonic Financial offers an all-digital mortgage process, supplemented with human guidance.

Prospective borrowers can check the status of their loan application, review and upload documents and maintain contact with their loan team via Sebonic's online platform. Though it relies heavily on automated technology, Sebonic Financial says it prides itself on maintaining a personal connection.

Sebonic Financial mortgage rates and fees

One of the most important considerations when choosing a mortgage lender is understanding what the loan will cost. To provide consumers with a general sense of what a lender might charge, NerdWallet scores lenders on two factors regarding fees and mortgage rates:

  • A lender's average origination fee compared with the median of all lenders reporting under the Home Mortgage Disclosure Act.

  • A lender's offered mortgage rates compared with the best available on comparable loans.

NerdWallet cannot verify Sebonic Financial’s fees and mortgage rates from the latest HMDA data available because Sebonic isn’t required to report to the federal database (it reports as part of Cardinal Financial instead). As a result, NerdWallet has awarded Sebonic a neutral score of 3 stars for origination fees and mortgage rates.

Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

You can decide to buy discount points — a fee paid with your closing costs — to reduce your mortgage rate.

Deciding whether to pay higher upfront fees is a matter of considering how long you plan to live in your home and how much cash you have to apply toward closing costs when you sign the loan paperwork.

Sebonic Financial rate transparency

Current mortgage interest rates aren’t publicly visible anywhere on the Sebonic website, even after submitting the rate quote contact form.

More from NerdWallet

NerdWallet’s star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.