Is Cardinal Financial Company a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Cardinal Financial Company to those of other lenders for a comparable set of borrowers. Here is our review of Cardinal Financial Company nationally:
|Review Item||Cardinal Financial Company|
|Interest Rate||similar to other lenders (+0.04%)|
|Loan Related Closing Costs||similar to other lenders (+$206)|
|National Rate and Closing Cost Star Rating||(3)|
On average, Cardinal Financial Company’s interest rates were similar to those of other lenders (+0.04%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$206. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Cardinal Financial Company, check out its website at: https://cardinalfinancial.com.
Cardinal Financial Company’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Cardinal Financial Company was most active in:
In addition, Cardinal Financial Company is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Brownsville, TX, for FHA mortgages
Cardinal Financial Company’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Cardinal Financial Company originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
|New Purchase Mortgages||Conforming||FHA||Jumbo||USDA||VA|
|Interest Rate Difference||+0.08%||+0.09%||+0.02%||+0.02%||+0.08%|
|Loan Related Closing Cost Difference||+$472||+$311||+$120||+$178||+$294|
|Cost Adjusted Rate Difference||+0.10%||+0.12%||+0.03%||+0.03%||+0.10%|
|National Star Rating|
|Interest Rate Difference||-0.05%||+0.03%||+0.02%||+0.00%||+0.02%|
|Loan Related Closing Cost Difference||-$85||+$50||+$24||-$5||-$216|
|Cost Adjusted Rate Difference||-0.05%||+0.03%||+0.02%||+0.00%||+0.01%|
|Average Star Rating|
As a summary, Cardinal Financial Company is similar to other lenders for Jumbo and USDA purchase mortgages. It is more expensive than other lenders for Conforming, FHA and VA purchase mortgages. For refinancing, Cardinal Financial Company is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Cardinal Financial Company:
Registered city and state: CHARLOTTE, NC, 28273
Regulator: United States Department of Housing and Urban Development (HUD)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Cardinal Financial Company’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.