CFBank Mortgage Review 2024

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.

• Methodology

  To determine a mortgage lender's Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender's products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability. Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%

  • Availability. Loan products - 50%; licensing - 40%; credit score - 10%

  • Borrower experience. Rate transparency - 45%; customer service - 25%; convenience - 10%; days to close - 10%; rate locks - 10%; reputation (bonus)

  Learn more about our methodology.

  How we suggest lenders to compare

  To help you make the most informed decisions, our editorial team suggests two (2) alternative mortgage lenders for each lender reviewed in our comparison table. In most cases, these alternatives 1.) share the same strength (affordability, availability or borrower experience) as the lender reviewed; and 2.) rate highly for Bankrate Score. In the event more than two lenders meet these standards, we suggest the ones with the lowest APRs.