Sebonic Financial in Charlotte, NC

Overall it was a great experience the application process clause straightforward and being self-employed does possess a number of additional requirements, but they were helpful in obtaining those and we were able to close in less than 30 days. The interest rate was great and we were able to obtain a loan without any origination fees or other fees involved. All, and all, an excellent experience.

Update: Everything I said below is still good, however as my wife tried to set up payments every two weeks as we had done in the past to get that extra payment in per year, Cardinal (the parent company) wants a $150 fee for the privilege! Our previous banks never charged us for this, therefore they just lost 2 stars and went to average. If it was a nominal charge of $25-35 I could understand. Can't wait to see what surprises await us down the road. Unbelievably easy for a refi and a drop of .9 from our current loan and taking 9 years off loan for a little more money, I don't know what the one star reviewer was talking about. Yes we probably had at least a dozen documents that needed scanned and/or uploaded but listen it is their money, they need to make sure everything is above board and you are not doing anything fraudulent. As my wife just changed jobs they wanted her old paystubs as well to confirm salary nothing wrong with that. The esigning of documents was very easy, our loan processor Bethany was a joy to correspond with and told us exactly what was needed and why as well as Penny our original loan contact. We just received word our loan was approved in just over 2.5 weeks and have set up closing on monday night. They are coming to our home to sign all the papers.

This was one of the best loan experiences I ever had. The rate and closing cost were competitive, and closed in about a month. Email responses from the team were quick. It takes a little time to get used to the website to upload documents but nonetheless it was fine. I would highly recommend the service.

Not worth the trouble. Back in Sept 2016, we chose Sebonic/Cardinal Financial over Chase for a slightly lower interest rate. It turned out to be a huge mistake. Our previous refinance with Chase was very pleasant: minimum 2-3 documents and closing in 2-3 weeks. We thought it would be similarly smooth with Sebonic/ Cardinal given our excellent credit score and financial situation. But we were totally wrong. They requested 20-30 documents in 3-4 rounds, and the process dragged on for more than 3 months. We spent several weekends to scan and upload the documents they asked. Each time they asked for more. Eventually just when we thought we finally got all the documents they needed, they silently declined our loan which we had to call to find out after a few weeks. (In some sense, we also had fault, because we had to buy a new car to replace the old car soon to be sold back to Volkswagen. But the loan dragged on for more than 3 months and we did need a car). We are now in a bad situation for refinancing, because the interest rate has significantly increased (+1.5% since Sept 2016). Choosing Sebnoic/Carninal caused us to lose at least $300 / month that we could have saved by going with Chase instead. Some other tips (1) unlike other loan companies, they require you to pay $675 appraisal yourself which is non-refundable if the loan is declined (they eventually did refund us, but I was told it's usually non-refundable) (2) the customer service is very poor and it's very hard to get hold of them.

The application process was all done online. It was easy to accomplish and upload documents they would like to collect. They act fairly timely. From quoting to closing, I am pleasantly surprised how easy and fast it is to do my refinance with Cardinal. They gave me a good rate for 30 fixed, and the closing cost is also low of all mortgage companies I shopped. From the beginning to the end, it took less than 30 days. The fund disbursed timely. Email communication was easy as well. From the beginning to the end, I probably only spoke over the phone with people only 4 times - once to the appraiser, twice to the loan processor, and once to the notary who handled the closing.