Sebonic Financial Reviews

Sebonic Financial

Overall Rating


9 Customer Reviews


Sebonic Financial is an online mortgage lender offering you five different types of mortgages and a set of refinancing options. Learn what customers are saying.

Write a Review

Customer Reviews

2.4 Stars out of 9 Reviews
5 Star:33% 4 Star:0% 3 Star:0% 2 Star:11% 1 Star:55%
33% Recommend This Service
Start your review of Sebonic Financial:
Sort Reviews By

Posted on Aug 4, 2020

Totally forgotten and left hanging

By Jih H., Texas, Verified Reviewer

Started off good, then they totally turned to forget us when we had to stay home for COVID-19 recovery. Even though there were plenty of asserts and excellent credit scores and zero late payment history, they just disappeared. Two closing dates have now gone by and nothing. Would not recommend, have no idea how they are in business. Don’t waste your time. It would be worth a .25 point to go elsewhere. I feel like I wasted so much time with a call center maybe. I should not have believed the so-called good reviews. Would have saved me a lot of time. Now my hometown bank is doing what they could not.

Bottom Line: No, I would not recommend this to a friend

Pros and Cons


Low fees

Not a knowledgeable crowd

Never keep up if help needed

They do not let you know options

Baseless stalls

Posted on Oct 1, 2019

Top shelf company

By Michael L., North Carolina, Verified Reviewer

Sitting at the closing table right now...John Ruskin was is our Loan Officer and was on top of everything! Attorney even stated it was the lowest rate that he has seen and couldn’t believe how low the lender fees are. As a former loan officer myself, I have to say that John Ruskin went over and above to take care of us. Minor delay with processing and closing department but Mr. Ruskin got it straightened out almost immediately. I highly recommend him and Sebonic!

Bottom Line: Yes, I would recommend this to a friend

Posted on Sep 20, 2019

Very fair, great communication, excellent rate

By Robert K., Baton Rouge, LA, Verified Reviewer

My loan officer Michael Fienberg was very helpful and communicative through the entire process. I was kept informed by email at every point when documents needed to be signed, what fees to expect, and when something needed attention. A quit deed needed to be executed near the end, that was delayed for reasons beyond Mr. Fienberg's or my control and as such, the rate lock was extended. I have nothing but compliments for how efficiently and professionally my refinance was handled.

Bottom Line: Yes, I would recommend this to a friend

Posted on Jun 20, 2019

Complete incompetence and disregard!

By Kaj H., Concord, NH, Verified Reviewer

My husband and I both have excellent credit, had a full 20% to put down on a loan. We understood the mortgage process (this was our third purchase - additionally, in a past life, I used to be a realtor) so we understood the value of being proactive with their demands. We started the process 60 days out! Quality companies can close in as few as two weeks or less - these clowns were still screwing things up in the last 24 hours!

Our loan officer just went away the last week of our processing/underwriting without any heads up or anybody to turn to for problems. Our loan coordinator was great but the underwriters had the file for almost a month and even the night before hadn’t even completed verifications of employment! They asked why I quit my job (we were moving across country - apparently this was a difficult thing to figure out) and I told them I had a new job lined up - they started freaking out about an offer letter (which had been emailed to them two months earlier - please explain why we are having this discussion in the last eight hours before closing?). This was just one of the COUNTLESS examples of screw-ups! I asked to speak to a manager - never had the respect to even call me!

In my time as an agent, my buyer's agents experience, the listing agent's experience, builders experience - nobody had ever seen a more poorly handled mortgage. Almost lost the house because of them!

Never! Never! Never!

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 4 People Have Voted

Posted on Apr 30, 2019

Warning: Incompetent! Unethical! Lied! Deceived!

By Michael C., Seabeck, WA, Verified Reviewer

Wasted a huge amount of our time! Now having to file a complaint with the Consumer Financial Protection Bureau.

This was a basic loan. Sebonic was so incompetent, we had to intervene at every step of the way to do their job for them, to do Sebonic's job they were being paid thousands of dollars to do, or it would have taken weeks longer to close. Even then, Sebonic still funded 11 days late.

I have an MBA and finance experience. Would you have been able to spot all of these illegal charges and errors? Would you have been able to intervene and unblock stalled processes to get your loan moving towards close?

Most borrowers would never even know they were ripped off because they don't understand the paperwork and processes. Further, Sebonic never discloses changes. It's up to you to find them. Buyer beware. Look upon any positive Sebonic reviews with skepticism as these are likely naive customers that were taken advantage of.

Do yourself a favor, stay away from Sebonic, stay away from Faith Milot!

I supervised a refinance for my ex-wife's house. Faith at Sebonic sucked her in with promises of reduced fees due to a business referral from my former brother-in-law. Except, then Sebonic just kept changing written agreements, adding fees, and ignoring numerous requests to explain them.

Worse, error after error after error kept delaying close, then delaying signing after close, then delaying loan funding. A.) We had to find these easter eggs ourselves, B.) We had to fight tooth and nail to get only some of them fixed, C.) Sebonic refused to credit excess interest charges piling up at $21/pay. In the end, my ex-wife was charged $214 in excess interest for Sebonic errors for which they refused to reimburse.

As an example, Sebonic charged $396 for a rate-lock extension due to their ongoing errors. We had to fight Sebonic for days. We were told time and again it was removed. Except it wasn't. They lied, attempting to deceive us. Fight after fight after fight.

All of this dishonesty consumed over 80 hours of our time scrutinizing, calling attention to mistakes, arguing, fighting for our rights via over 100 emails and dozens of phone calls and conference calls. Do you have 80 hours to waste?

At closing, Sebonic tried to illegally charge $456 in excess fees after having stated 2 months prior (in writing no less) these fees were waived as a courtesy when negotiating the loan structure.

After 80 hours of fighting, this was reduced to $267 of illegal fees my ex-misses ended up being ripped off for. Example, we explicitly negotiated $600 for an appraisal. At close Sebonic changed this to $675, violating the truth in lending loan estimate.

We had a competitive bid from a trusted mortgage broker we'd worked with for 2 and 1/2 decades with a dozen refi's done within our family. We were fools. Instead of trust this great lender, we believed Sebonic claims they would save us $1100. By the time we were done, it would have only cost us $40 (due to illegal extra costs at Sebonic) to have stuck with our trusted lender. We were stupid. Do not trust Faith, do not trust Sebonic.

And, we never would have spent even 1 extra hour with our trusted lender. Even had we saved $1100, the 80 hours of our time was never worth it. RIP OFF!

Lie upon lie upon lie, error upon error upon error. Do not trust Faith, do not trust Sebonic.

At the signing, they illegally snuck in new fees that they had to issue lender credits to cover after they failed an internal audit causing yet another delay and more interest charges piling up.

Again at signing, we had to print our own docs, because the docs they sent with the notary were WRONG! Twice! There was even a math error in the cash to close - only possible when done by hand and not a computer. Do you want your lender computing values by hand?

Sebonic violated Real Estate Settlement Procedures Act of 1974 [12 U.S.C. 2601 et seq.] and the Truth in Lending Act [15 U.S.C. 1601 et seq.]. I asked for a compliance investigation. My ex-wife was furious with Sebonic, but fearful Sebonic would somehow retaliate and screw her even worse. In FEAR, she backed out of that investigation request.

Should not even matter. When a client alleges you have done something illegal in a regulated industry, you should launch a compliance investigation NO MATTER WHAT. These firms are audited and the penalty for non-compliance is worse than reversing the fees. Now I'll have to file a complaint with the CFPB. Just more time wasted!

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 10 People Have Voted

Posted on Mar 30, 2019

Watch out for increasing fees

By Frank L., San Rafael, CA, Verified Reviewer

The Bad: Fees kept on going up, then could not close in 30 days. This added more fees of $1800. They kept conditioning for strange items to drag my loan longer. The loan officer was not in touch. Classic bait and switch. I would not use them again.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 6 People Have Voted

Posted on Nov 8, 2018

Very bad service

By Qing T., Tulsa, OK, Verified Reviewer

I found out this company by web searching. They offered me a great deal on an interest rate - 4.25%, 30-year fixed with a $550 appraisal fee. Two weeks later, the rate increased to 4.5% and they told me the appraisal fee is $3,250! After I finally paid for it, they came back for another $150. Nightmare.

Stay away from this company, big trap!

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 7 People Have Voted

Posted on Nov 1, 2018

Not too friendly

By Gil E., Houston, TX, Verified Reviewer

I am in the middle of purchasing a second home. These people make everything sound so sweet and smooth. After you signed the paperwork, all these fees and estimates start showing, making the sweet and smooth process a hell. Then, I called my loan officer, Jason, to see if he can explain my concerns, and he started screaming and having an ugly attitude towards me! His own client.

I am so disappointed.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 6 People Have Voted

Posted on Jan 3, 2018

Fantastic company

By Renee Nicastro, Levittown, PA, Verified Reviewer

Sebonic Financial is a great company, and my loan officer, Justin Fry, was amazing! He was very patient and willing to explain all the things I didn't understand about my mortgage refinance. He was extremely responsive to my emails and phone calls, and really knows his stuff. The outcome was way above my expectations, and I couldn't be more thrilled. I will recommend him to anyone who has financial needs, and I would use Sebonic again in a heartbeat.

Bottom Line: Yes, I would recommend this to a friend

Helpful Review? 3 People Have Voted
Showing 1-9 of 9

Our Promise to You

In order to safeguard you and ensure helpfulness and relevance, our compliance team manually assess every customer review before it goes live.

We have a zero-tolerance policy for fake reviews, and companies cannot control or alter any reviews at any time.