Is Sebonic legitimate?
Sebonic Financial is a good option for a range of people since it offers large loan amounts as well as low down payment options for first-time homebuyers. But the company isn’t very transparent about potential rates if you’re shopping around before you request a rate quote.
Is Sebonic Financial the same as Cardinal Financial?
Sebonic Financial is a privately held lender based in Charlotte, North Carolina, and is a division of Cardinal Financial LP.
Is Sebonic a direct lender?
Sebonic Financial, a division of Cardinal Financial, is a consumer-direct lending company that aims to provide a fast, competitively priced mortgage experience.
Do conventional mortgage loans have fixed rates?
A conventional loan is a mortgage not backed or insured by the government, such as Federal Housing Administration (FHA), Department of Veterans Affairs (VA) and Department of Agriculture ( USDA) loan programs. Conventional loans typically have fixed interest rates and terms.
Is a home equity loan considered a second mortgage?
In many cases, a home equity loan is considered a second mortgage, as it is made on top of an existing mortgage. If the home goes into foreclosure, the lender holding the home equity loan does not get paid until the first mortgage lender is paid. Consequently, the home equity loan lender’s risk is greater,…
What is finance mortgage?
A mortgage is a type of loan that’s used to finance property. A mortgage is a type of loan, but not all loans are mortgages. Mortgages are “secured” loans. With a secured loan, the borrower promises collateral to the lender in the event that they stop making payments. In the case of a mortgage, the collateral is the home.
What is a senior mortgage loan?
Senior Mortgage. A mortgage that is secured by a lien on a property and that has preference to another mortgage on the same property. In general, the senior mortgage is the original mortgage; one takes out a junior mortgage to pay for home repairs or for other reasons.