Cardinal Financial Review
Based in Charlotte, NC, Cardinal Financial is a mortgage lender that provides accessible, knowledgeable, and detailed home-related solutions. They’re a member of the Mortgage Bankers Association and the National Association of Minority Mortgage Bankers of America.
Cardinal Financial is a direct lender that offers mortgage loans and refinancing options. They do not have home equity loans or home equity lines of credit, though. The process is straightforward and begins with a free quote and chat with a loan officer. They have a custom lending platform and various online resources, such as a blog and mortgage calculators. The lender works with individuals who want to take out a home loan and strives to clearly explain every step of the process.
|Mortgage Amount||$80,000 to $3 million|
|Mortgage Repayment||Undisclosed – standard terms are 15 or 30 years|
|Term APR – Fixed Rate||Fixed: 8.00%|
|APR – Variable Rate||Variable: Undisclosed|
|Min. Credit Score||580 to 620|
|Soft Credit Pull (for
|Funding Time||30 to 35 days (average)
As soon as 7 days
|Lender Type||Direct lender|
|Refinance – Fixed APR||Fixed: Undisclosed|
|Refinance – Variable APR||Variable: Undisclosed|
|Amount||$80,000 to $3 million|
Cardinal Financial is good for first-time home buyers, as well as for those who are looking to refinance their existing mortgage. The lender offers a wide variety of mortgage products and is available across the country.
Pros & Cons (Mortgage Purchase)
- Has first-time home buyers’ guide with comprehensive information about the process, including down payment, closing costs, and credit score details
- Fast closing times – within 7 days
- Hyper-secure loan platform with an easy application process and prequalification
- 24-hour turnaround time for underwriting
- No prepayment penalty
- Limited information about mortgage loan terms and fees
- Must speak with a loan officer for specific details
- Doesn’t offer financing for all mortgage types
Pros & Cons (Mortgage Refinance)
- Potentially fast closing times
- Free and secured online application process
- No prepayment fees
- Refinancing available for disaster relief home financing, as well as tiny homes and manufactured homes
- Limited information about eligibility online
- Loan terms and amounts aren’t clearly indicated
Mortgage Loans Terms & Requirements
Unlike most direct lenders, Cardinal Financial doesn’t clearly list the terms and requirements for obtaining financing. However, you’ll need to be at least 18 years old, have a minimum credit score of 580 to 620, and have a maximum debt-to-income ratio of 50%. If you’re applying for financing and are self-employed, be prepared to provide additional documentation proving your income.
How to Apply
To apply for a home loan, click “Get Started” on Cardinal Financial’s homepage. From there, you can get a free rate quote for either home purchase or refinance. This is a prequalification option that doesn’t affect your credit score. It only takes a few minutes. After you submit the form, you’ll be connected with a loan specialist who will discuss your needs and options.
During the prequalification process, be prepared to answer a few questions, such as:
- Whether you’re already working with a loan originator from Cardinal Financial
- Property type you want to buy (ex. Single-family, condo, townhouse, multi-family, or manufactured or mobile home)
- Property purchase (ex. Primary residence, second home, or rental property)
- When you intend to buy (ex. Under contract already or in the next few months)
- Property location
- Whether you’re working with a real estate agent already
- Property’s estimated purchase price
- Down payment
- Estimated credit score
- Military status
- Bankruptcy or foreclosure information (if any)
- First and last name
- Contact email and phone number
The application process for refinancing a home is similar. The main difference is that you’ll also be asked:
- If you want to borrow extra money
- How much remains on your mortgage
- Whether you have a second mortgage
- 580 or 620 credit score
- 50% maximum debt-to-income ratio
- 18 years or older
- No minimum annual income listed (but need 2+ years of continual employment)
- US citizen, permanent resident, or visa holder
|Min. Credit score 580 or 620|
|Min. debt-to-income ratio 50% maximum|
|Min. annual income Undisclosed|
|Min. age of borrower 18 years old|
|Citizenship/residency Citizen or permanent resident|
In order to speak with a loan officer, you’ll need to fill out a basic application form online and provide your:
- Contact information (name, email, phone number, etc.)
- Estimated credit score
- Information about the property you intend to purchase (value, location, type, intended use, etc.)
After the initial application, you’ll also need to provide other documentation and information, such as:
- Social Security number
- Proof of income and employment
➔ Application Steps & Time Frames
- Prequalify with a 5-minute online application. From there, Cardinal Financial will connect you with a loan officer who will discuss your options.
- Closing times vary but can be in as little as 7 days. This is quick in the industry.
Privacy & Security
Cardinal Financial is very transparent about its privacy and security practices. They use a loan platform called Octane to keep consumer information private. They also use security measures from the Cyber Security Framework, from the National Institute of Standards and Technology, to protect data. In addition, the lender uses data encryption technologies for both its Google Cloud and AWS networks.
When you use the website, expect the lender to collect general contact and personal information, including your Social Security number. This information is primarily used to improve customer experience. However, Cardinal Financial may also share information to help provide a service or if certain laws or situations require it.
Cardinal Financial has an online chat option that connects you to a bot to answer basic queries. If the bot cannot answer something, you can instead contact a real loan officer via phone or email. There’s also an online contact form.
The lender has a quick response time and overall positive customer reviews online. On Trustpilot, they have 4.5 out of 5 stars with 579 reviews. On the Better Business Bureau, the lender has 4.44 out of 5 stars. Many reviews indicate a good experience from their loan officer and the entire team.
|Phone Support||Customer Care: 855-561-4944
Loan Officer: 877-406-0718
Standard business hours – EST
|Email Support||Yes – firstname.lastname@example.org|
|Live Chat||Yes – with a bot|
|Social Media||Facebook – https://www.facebook.com/cardinalfinancial/
Twitter – https://twitter.com/cardfinancial
Instagram – https://www.instagram.com/cardinalfinancial/
3701 Arco Corporate Dr #200
Charlotte, NC 28273
Cardinal Financial is licensed to lend in all 50 states.
Cardinal Financial is a solid mortgage lending company located on the East Coast. As a direct lender, they can walk you through the entire process of applying for or refinancing a home loan. They have an experienced team and offer friendly customer service. The main drawback is that the lender doesn’t offer much information about their loan products until after you request a quote or chat with a loan officer.
Brand disclaimer: “No Warranty. The information and materials contained in this website, including text, graphics, links, or other items, are provided “as is” and “as available.” Cardinal Financial does not warrant the accuracy, adequacy, or completeness of this information and/or materials and expressly disclaims liability for errors and/or omissions in this information and materials. No warranty of any kind, implied, expressed, or statutory, including but not limited to the warranties of noninfringement of third party rights, title, merchantability, fitness for a particular purpose, and freedom from computer virus, is given in conjunction with the information and materials.”