Sebonic Financial - Mortgage Bank Experience

[CuzzinOlaf]

I hope this helps at least one of you and wanted to put this out there.

I recently bought a new house and shopped my interest rates like most of you would. I ended up settling on an online finance company named Sebonic Financial.

I did a ton of research to see if they were legit and everything came back positive. Thousands of positive ratings on Bankrate, Zillow, and even some personal experiences on Boggleheads definitely helped with my decision.

The process was pretty simple and most signatures were electronic via their online portal. They had the best rate out of everywhere I checked (a friend in the business, my credit union, and other banks - online and local) and their fees were the lowest. I was able to get a lender credit for my points an my total bank fees were less than $1000 including the appraisal.

If you're shopping rates to refi or purchase I'd definitely check them out. Obviously, check out other avenues, but my loan process was pretty damn simple and I was able to close in less than a month.

Click to read more...

 

[Yaj Yak]

I just closed with wells fargo in about a month.

Don't use them

hope this helps.

 

[CuzzinOlaf]

I could have told you that ya big dummy LOL. Seriously though, what happened? Did you move? I was at Greg's house and thought I saw your truck there.

 

[Yaj Yak]

I could have told you that ya big dummy LOL. Seriously though, what happened? Did you move? I was at Greg's house and thought I saw your truck there.

had to move quick on the process. WF was only provider i could get a hold of for a preapproval letter on a saturday night so we stuck with 'em. pricing was totally fair and reasonable. we did well there. just so much bullshit.

didn't move yet. house by greg's won't be listed for quite some time.

 

[CuzzinOlaf]

What rate were you able to get? I closed on my new house on 11/17.

 

[Yaj Yak]

4 on a 30 with barely anything down.

trying to stay liquid until current house sells.

 

[sickmint79]

my mortgage and cars have gone through penfed.org for like a decade now. they are pretty competitive.

 

[Yaj Yak]

i tried to use penfed on my truck when i purchased it but BCU beat their rate.

so i went BCU

 

[CuzzinOlaf]

i tried to use penfed on my truck when i purchased it but BCU beat their rate.

so i went BCU

BCU is my credit union and will at least match (if not beat) anyone's rate... on cars at least. I think the guy said they can match any mortgage rate if you have a mortgage commitment. That said, Sebonic's fees were lower.

I close on my old house next Friday. <fingers crossed>

 

[Yaj Yak]

So the buyer accepted our offer November 1st, and we closed a week ago- the 30th.

BCU loaned on my truck with 123k miles on it, which most places didn't want to do. even though it nada'd out much higher than i was asking for. so that helped too.

i think it's at 2.5%

 

[sickmint79]

So the buyer accepted our offer November 1st, and we closed a week ago- the 30th.

BCU loaned on my truck with 123k miles on it, which most places didn't want to do. even though it nada'd out much higher than i was asking for. so that helped too.

i think it's at 2.5%

i've always sold cars before they hit 100k because of that.

 

[Yaj Yak]

that's why i typically buy cars with more than 100k ont hem

 

[PANDA]

As long as you are happy with the rate I don't really think it maters who you use. Seeing as most likely your loan will be sold to another company anyway.

But obviously customer service during the closing process is important.