Sebonic Financial Mortgage Review | the ascent


Main advantages

Quick closing

Sebonic Financial is completely digital. This lender uses a proprietary app called Octane to manage mortgage applications. Octane’s technology provides drag-and-drop functionality, electronic signature capability, and real-time status updates throughout the process. This technology allows some borrowers to close their loans faster than they would with another lender. It is also very practical. Sebonic Financial offers remote closing where permitted by law. If you’re in one of these states, you can go from requesting a rate to applying for a Keys to Your Castle Mortgage from any location you choose.

Low fees

Sebonic Financial does not charge application fees. Even better, they also cover many of the fees that other lenders add to your closing costs. Sebonic will not charge you for underwriting, processing, tax certification, flood certification, or your credit report.

Sebonic charges an assembly fee (the amount is undisclosed and it varies), but this fee is waived for regular customers.

Wide choice of home loan options

Sebonic Financial offers a wide enough variety of loan types to meet the needs of most borrowers:

  • FHA loan for borrowers who need more flexible underwriting
  • VA loan for eligible military and government employees
  • USDA loan for low-income borrowers buying in cities and rural areas
  • Conventional loan for any eligible person
  • Conventional 97 for borrowers who want a lower down payment (usually for first-time homebuyers or low-income borrowers)
  • Top-up loan to help you avoid private mortgage insurance
  • Interest-only loan for borrowers who plan to sell or refinance in the near future

What could be improved

Welcome more borrowers

Even though Sebonic has a good menu of home loan options, they cannot meet every borrower’s needs. Sebonic does not offer a home equity line of credit (HELOC) or a home equity loan. If you want to access your capital, your only option at Sebonic would be a cash refinance loan.

You’ll also need to keep shopping around if you’re looking for a new home construction loan or a stated income loan for the self-employed and business owners who want to verify their income using bank statements instead of pay stubs and tax returns.


Sebonic Financial does not publish mortgage rates on its website. This makes it difficult for borrowers to research low rates before applying. If you want to know the rate, you will need to complete Sebonic’s online form and agree to be contacted by a loan officer.

Although rates are far from the only factor to consider when choosing a mortgage lender, they give you a starting point. We love when this information is available without too much work.


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