CFBank Mortgage Review 2022

CFBank overview

Ohio-based CFBank has roots dating back to 1882, with locations in the Columbus, Cincinnati and Akron regions and plans to open new branches in Cleveland and Indianapolis, Indiana. 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. The implications of this move are somewhat unclear, and the bank’s mortgage website currently doesn’t offer rates or the ability to obtain a rate quote. However, you can still apply online.

Good for

Borrowers in Ohio who want to have a home loan with a traditional bank, or those who want a home equity line of credit (HELOC)

Loan types 

• Conventional
• Jumbo
• Rate-and-term refinancing
• Home equity line of credit (HELOC)

Lender fees

CFBank typically charges no origination or underwriting fees. Be sure to ask your loan officer about any fees that might apply to your loan.

Rates 

CFBank’s mortgage rates are not currently available on the bank’s website.

Online services

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 as the bank transitions out of a direct lending model.

Minimum borrower requirements 

CFBank follows Freddie Mac underwriting guidelines. This means that for a conventional loan, borrowers should have a credit score of at least 620 and at least 3 percent for a down payment. A down payment of less than 20 percent will result in the need to pay for private mortgage insurance (PMI). Freddie Mac guidelines also specify a debt-to-income ratio (DTI) of 45 percent or less. 

Refinancing with CFBank

You can refinance your existing mortgage with CFBank. You must first complete a personal profile and share your information to get access to rates.

Not sure if CFBank is right for you? Consider these alternatives

• PNC mortgage review: Also maintains branch locations in Ohio and has a complete website experience
• Chase Home Lending review: High customer satisfaction scores and a nationwide branch network
• Better.com mortgage review: An easy-to-use website, no fees, fast closings and around-the-clock customer support
• Wells Fargo Home Mortgage review: Nationwide branch network with alternative credit consideration (rent payment and utility bills) for borrowers
• Optimum First Mortgage review: Offers a wide range of home loan options for borrowers in Ohio, plus a Lifetime Rate Protection Guarantee that waives closing costs on refinances

Breakdown of CFBank overall review score 

• Affordability: 5/5
• Availability: 4.5/5
• Borrower experience: 4.3/5

Review methodology

To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.