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CFBank Mortgage Review 2024

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At a glance

CFBank
NMLS: 409132
Editor's take

CFBank could be a convenient local option for borrowers in Ohio and Indianapolis, although it works with eligible applicants nationwide. It doesn’t offer FHA, VA or USDA loans, however, so you’ll need a credit score of at least 620 to qualify. If you already bank here, it’s worth a look.

Bankrate Score
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3.7
Rating: 3.7 stars out of 5
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Customer Rating
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4.7
Rating: 4.65 stars out of 5

333 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, refinancing and more

Credit Good

Min. credit score required

620 for conventional loans

Location

Nationwide availability

All U.S. states

Dollar Coin

Min. down payment

Undisclosed

At a glance

CFBank

NMLS: 409132

3.7

Rating: 3.7 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, refinancing and more

Location

Nationwide Availability

All U.S. states

Credit Good

Min. credit score required

620 for conventional loans

CFBank overview

Ohio-based CFBank has roots dating back to 1882, with locations in the Columbus, Akron, Cleveland and Cincinnati regions, as well as Indianapolis. While the bank has been a large player in nationwide mortgage lending, it announced in 2021 it plans to wind down its direct-to-consumer mortgage offering to focus on a traditional retail origination model. As a result, the bank’s mortgage website currently doesn’t offer rates or the ability to obtain a rate quote. However, you can still apply online.

Pros and cons of CFBank

Pros
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    Charitable corporate focus, making donations in the communities it serves and providing financial education to students

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    Offers home equity lines of credit (HELOCs)

Cons
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    Limited online customer support for mortgages as the bank scales back

Our Editor’s Take on CFBank

CFBank could be a convenient local option for borrowers in Ohio and Indianapolis, although it works with eligible applicants nationwide. It doesn’t offer FHA, VA or USDA loans, however, so you’ll need a credit score of at least 620 to qualify. If you already bank here, it’s worth a look.

How Bankrate scored CFBank

  • Affordability: CFBank doesn’t usually charge an origination fee for a mortgage. Be sure to compare this bank to other lenders to see whether you’re getting a competitive rate for your situation.

  • Availability: CFBank works with borrowers nationwide, but its branch footprint is mainly concentrated in Ohio. Keep in mind: The bank doesn’t offer government-insured loans.

  • Borrower experience: If you’re just starting your homebuying journey, you won’t find many resources on the bank’s website. Your best bet for more information: Get in touch with the bank directly.

Affordability: 6.4/10

CFBank’s mortgage rates currently aren’t available on the bank’s website; you’ll need to call instead for more information and a quote. The bank typically doesn’t charge an origination or underwriting fee, but be sure to ask your loan officer about any fees that might apply to your loan.

Availability: 8.8/10

CFBank offers conventional (conforming and non-conforming) as well as rate-and-term refinancing and home equity lines of credit (HELOCs). Its loan products are available to qualified borrowers across the U.S.

Borrower experience: 6.8/10

CFBank is a longstanding financial institution based in Ohio. The bank isn’t accredited by the Better Business Bureau, but it does have a B+ rating from the organization. CFBank’s website has a few calculators about mortgage affordability, and you can apply for a loan online. However, the rest of the website is extremely limited in functionality.

How to apply for a mortgage with CFBank

You can apply for a mortgage with CFBank online or by phone at 877-889-1199. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.

  2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.

  3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with CFBank

CFBank offers rate-and-term refinancing options. You’ll need to call the bank for more information, or you can begin the refinance application process online.

Compare CFBank to other lenders

CFBank
Rating: 3.7 stars out of 5
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3.7

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Bethpage Federal Credit Union
Rating: 4.9 stars out of 5
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4.9

Bankrate Score
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Read full review
First Mortgage Direct
Rating: 4.8 stars out of 5
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4.8

Bankrate Score
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Read full review

Loans offered

Conventional, jumbo, refinancing and more

Loans offered

Conventional, jumbo, FHA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Min. credit score required

620 for conventional loans

Min. credit score required

620 for conventional loans, 500 for FHA loans

Min. credit score required

620 for conventional loans, 580 for FHA loans, 580 for VA loans

Down payment

Undisclosed

Down payment

3% for conventional loans, 3.5% for FHA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Nationwide availability

All U.S. states

Nationwide availability

Available in all U.S. states except Texas

Nationwide availability

All U.S. states

CFBank customer ratings and reviews

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NMLS: 409132

4.7

Rating: 4.65 stars out of 5

333 ratings

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This lender has 0 recent reviews.

Knowledge
Rating: 4.8 stars out of 5
Level of service
Rating: 4.7 stars out of 5
Professionalism
Rating: 4.7 stars out of 5
Responsiveness
Rating: 4.7 stars out of 5
5 stars
4 stars
3 stars
2 stars
1 star
89%
3%
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7%

92% of customers would recommend this lender.