Cardinal Financial Mortgage Review 2025

Cardinal Financial has been in business since 1987. Headquartered in Charlotte, North Carolina, the company also operates another division called Sebonic Financial and has over 115 locations. Cardinal is licensed to originate mortgages in all 50 states and Washington, D.C. It offers conventional and jumbo loans, as well as government-backed options such as FHA, VA and USDA loans. If you're looking to refinance, renovate or fund a container home purchase, Cardinal Financial has you covered with options for those scenarios as well.    

Pros and cons of Cardinal Financial

Affordability: 5/5

Because of the company’s Special Purpose Credit Program, low APRs and no- and low-down payment loan offerings, Cardinal Financial received 5 out of 5 stars for affordability.

• Interest rates: Cardinal Financial reported an annual percentage rate (APR) well below Bankrate's national average, at the time of this review. 
• Down payment: The lender features a Special Purpose Credit Program, which offers up to $6,500 in grant money for certain down payment and closing costs. Additionally, the company provides no-down payment VA and USDA loans, and conventional loans for only 3 percent down.
• Fees: Cardinal Financial doesn't list its fees online, so be sure to check your loan estimate from the company to know how much you'll pay for costs like the origination fee. 
• Closing costs: Cardinal Financial estimates that typical closing costs will tack on between 3 and 5 percent of the purchase price, which is in line with the industry average. The Special Purpose Credit Program includes a credit for a property appraisal to save eligible borrowers on that standard expense.

Availability: 5/5

Because of the company’s wide range of loan options and nationwide footprint, it received a perfect score of 5 out of 5 stars for availability.

• Home loans offered: Cardinal Financial offers a mortgage that can fit just about any borrowing needs — from a low-income buyer who needs down payment assistance to someone looking for a jumbo loan to finance a high-priced property. The lender even works with those looking for a condo or a unique home, such as a container house. 
• Footprint: Cardinal Financial has a license to lend in all 50 states and Washington, D.C., so there are no geographic restrictions.
• Where to find: Borrowers can manage their entire mortgage application online with the company’s platform called Octane. You can also search for a loan originator nearby to walk you through the process. 

Borrower experience: 2.9/5

Because of a lack of instant online preapproval and details regarding fees and rate averages, Cardinal Financial scored 2.9 out of 5 stars for borrower experience.

• Application and preapproval process: Cardinal Financial doesn’t offer a do-it-all-yourself mortgage preapproval experience. Instead, you’ll need to speak with a loan officer to determine the best loan choice for your situation before you can apply. After that, Octane does allow for online documentation uploads and e-signing to streamline the process. The platform also allows you to check your loan status at any time. 
• Transparency: The company’s website doesn’t offer an upfront understanding of average rates or fees.
• Rate lock: The lender offers 90-day rate locks, which are longer than some lenders that only have standard rate locks of 30 or 60 days. 
• Customer service: You can contact the lender by phone at 855-561-4944, email, online form, online chat or text message. You can also visit a branch location for assistance. 

Cardinal Financial is accredited by the Better Business Bureau and holds an A+ rating from the organization. It also receives high marks on Trustpilot, garnering a "Great" rating on the review site. However, the company received a below-average score in the most recent J.D. Power’s Mortgage Origination Customer Satisfaction Study.

What consumers say about Cardinal Financial 

On Bankrate, many borrowers say that the online application process is easy and streamlined. Some also say that loan officers explained loan terms and conditions well and that the lender honored its rates and terms. However, reviews are mixed when it comes to customer service responsiveness. Some borrowers say the lender was available to answer questions and address concerns, while others say it was hard to get a hold of someone at times. 

Disaster relief loans

If your home was destroyed in an area that received a Presidential disaster declaration, you might be eligible for an FHA 203(h) loan through Cardinal Financial. You may be able to qualify for the program, which does not require a down payment, for up to a year after the disaster. The program features more relaxed credit guidelines as well.

Renovation loans 

Cardinal Financial is a good pick for anyone looking to borrow money for anything from small-scale projects to more intensive renovations, such as overhauling a fixer-upper. Options include FHA 203(b) or FHA 203(k) loans, as well as Freddie Mac's CHOICERenovation or CHOICE Reno eXPress loans.

Jumbo loans for borrowers with less-than-perfect credit

While most lenders require higher credit scores for higher loan amounts (think around 700), Cardinal Financial accepts credit scores as low as 660 for jumbo loans.

Cardinal Financial offers both rate-and-term and cash-out refinancing options. In some cases, borrowers with credit scores as low as 550 can qualify for refinancing with Cardinal Financial. The company lets you refinance a variety of mortgage types, including conventional, FHA and VA loans. Its website also offers a helpful refinance calculator that allows you to estimate how refinancing could affect your current monthly payment.

To apply for a mortgage with Cardinal Financial, you'll need to complete the company’s online form for a free rate quote. Once you share some basic details about the type of loan you’re looking for, how much you plan to contribute to a down payment and whether you’ve had any significant financial challenges like a bankruptcy, you’ll get a call from a loan originator.

You’ll need to gather the following documentation to apply:

• Two years of federal tax returns
• Pay stubs for the past 30 days
• Any other forms that show evidence of other income sources

If you’re self-employed, you’ll need to share more information including two years of business tax returns. 

As your loan moves through the various stages of approval, you’ll be able to monitor the progress via the company’s online platform, Octane. You'll also be able to contact your loan originator with any questions.