C&F Mortgage Corp Review: A Detailed Analysis Of The Lender
The mortgage industry is an incredibly important part of our economy. It’s how many families are able to purchase or refinance a home and make their dreams come true. But with so many options in the market, it can be difficult to determine which one is right for you. That’s why we have decided to take an in-depth look at C&F Mortgage Corporation and provide you with our honest review.
In this article, we will examine the company’s products, services, rates, and customer service so you can make an informed decision about whether C&F Mortgage Corp is the right choice for your needs.
|Loan Amount||Up to $3,000,000|
|Loan Terms(Years)||10, 15,20 and 30-year terms.|
|Credit Score Range||620 and up|
|No Origination Fee||No|
|Mortgage Programs||Conventional, Jumbo, FHA, VA ,USDA, Non-Owner occupied, Other low/ No down payment, Refinancing Reverse mortgage.|
|Employment Statuses Considered||Employed, self-employed, employed in sales, paid by commission, or rental real estate owners.|
|Intended Use||Home purchase and refinancing|
|Joint Loan Applications Accepted||N/A|
|Property Type||Single family homes, multi-family homes, condos and townhomes, vacant land, manufactured homes|
|Verification Documents Required||Pay stubs covering the last 30 days and tax returns for the past 2 years.|
How Much Money Can You Borrow from C&F Mortgage Corp?
C&F Mortgage Corp is a mortgage bank that offers a variety of mortgage products, including home purchase loans and refinance loans. This means that clients have a wide array of different financing options available.
But now comes the important question, which is how much can you actually borrow. Borrowers can get pre-qualified for a loan before they apply, so they know how much money they can borrow. But the maximum allowed limit is $ 3 million for primary residences.
C&F Mortgage Corp Pros & Cons
There are many things to consider when taking out a mortgage, and it’s important to know the pros and cons of each lender before making a decision. C and F Mortgage Corp have been in the industry for many years. Because of that, they have been accredited by BBB with a rating of A+.
On the other hand, there were some complaints regarding the process of getting funding for a certain loan type. Luckily, that issue has been resolved in the past years. Also, they have very tight credit score requirements, which can be repellent to some people.
- Very big array of loan types
- Good customer service
- Accredited by BBB
- Many years in business
- No prepayment or origination fees
- Tight credit score requirements
- The slow loan funding process
- Not available in all the states
What Is the Longest Loan Term You May Obtain from a C & F Mortgage Corp?
The longest loan term C&F Mortgage Corp offers is 30 years. This is also the most popular option borrowers choose. Long loan term gives you the flexibility to make lower monthly payments and pay off your loan over a longer period of time.
However, if that is not suited for you or your personal situation you can also choose to get a 10, 15, or 20-year term.
What Mortgage Rates Does C&F Mortgage Corp Offer?
C&F Mortgage Corp offers a variety of mortgage rates, depending on the type of loan and the borrower’s qualifications. The company offers fixed-rate and adjustable-rate loans, as well as jumbo loans for larger amounts.
For fixed-rate loans, C&F Mortgage Corp offers rates as low as 3.5% for terms of 15 or 20 years. For adjustable-rate loans, the starting rate is 3.625%, and it can adjust annually after that. The jumbo loan rates start at 4%.
To qualify for the best rates, borrowers need a credit score of at least 740 and a debt-to-income ratio below 45%. Borrowers also need to make a down payment of at least 10%, although 20% is ideal to avoid private mortgage insurance.
What is the Estimated Funding Time?
If you are looking for a mortgage lender that can provide quick funding, C&F Mortgage Corp may not be the best option.
The company’s website states that it typically takes 30-45 days to fund a loan. This time frame is based on the type of loan, the borrower’s qualifications, and the property’s condition.
In case you need a loan fast, you may want to consider another lender. But if you are okay with a longer funding timeline, C and F Mortgage Corp could be a good option for you.
Do They Charge Mortgage Origination Fees?
Mortgage origination fees are charged by many lenders in order to cover the costs associated with originating a loan. These fees can vary greatly from lender to lender, so it’s important to compare rates and fees before choosing a lender.
As for C&F Mortgage Corp, they do not charge an origination fee, but the amount will depend on the specifics of your loan. This is due to the fact that the exact number is determined as a percentage of the loan.
Does C&F Mortgage Corp Charge Prepayment Fees?
After checking on their website and their services, we saw that C&F Mortgage Corp does not charge prepayment fees. This is a benefit for borrowers who may need or want to sell their home or refinance their mortgage before the end of their loan term.
Overall, you need to be aware that every type of loan has different repayment terms, and not every loan will have the same rates. With that said, make sure you fully understand the terms of the loan you are applying for.
What Mortgage Programs Are Available?
There are a variety of mortgage programs available through C&F Mortgage Corp. These include:
- Conventional mortgage
- Jumbo loan
- Non-Owner occupied
- Other low/ No down payment,
- Reverse mortgage
This wide variety ensures that the demands of most borrowers are met. Keep in mind that each type of loan has its own pros and cons, so it’s important to speak with a loan officer to determine which program is right for you.
What Property Usage Types Does C&F Mortgage Corp Allow?
C&F Mortgage Corp offers several types of loans for different property usage, including:
- Single-family homes
- Multi-family homes
- Condos and townhomes
- Vacant land
- Manufactured homes
This is a very diversified portfolio that can work for many different types of borrowers. There is something for everyone.
How Do People Rate Customer Service and User Experience?
When you take into consideration any type of lender, C&F Mortgage reviews are a mix and match of good and bad ones. Mainly the issues they are facing with customer reviews are complaints made about their slow loan funding process.
Even though they have stated on their website that the loan funding can take up to 45 days, it’s still a lot of time to wait for the needed money. On the other side, we did see a lot of people praising their customer service, by saying they are available and there to help at all times.
Overall, they have a great customer rating of 4.4 and if you are okay with waiting a bit for your money, you will have a good experience. Nevertheless, in case you ever need any help or you just want to learn more about good lenders, you can always reach us.
Contacts of C&F Mortgage Corp
C&F Mortgage Corp has many different locations and offices, so it’s important to check which location you need and if they have an office there. Their website is a great tool as well to operate in which cities and states they have an office. On top of that, on their website, you can find all the information you need about their services and also contact numbers.
Here we will provide you with their headquarters number and email, which you can reach from Monday to Friday from 9 am to 6 pm.
Virginia headquarters contact:
804 858 8300 [email protected]
Availability of C&F Mortgage Corp
C&F Mortgage Corp is a mortgage bank that offers a variety of loan products to meet the needs of homebuyers and homeowners. The company is headquartered in Virginia and has been around since 1995.
They offer a wide range of fixed-rate and adjustable-rate mortgage products, as well as home mortgages and government-backed loans.
As of 2022, they are operating in Virginia, Maryland, South Carolina, North Carolina, and West Virginia. Overall, they have good reviews and a good reputation, but either way, make sure to consult with an expert just to make sure they are the right choice for you.
C&F Mortgage Corp Summary
- C&F Mortgage Corporation is a mortgage bank headquartered in Virginia.
- They offer their services to customers in five different states: Maryland, North Carolina, South Carolina, Virginia, and West Virginia.
- This mortgage lender offers a wide range of loan types for customers who are either looking to purchase a home or refinance their existing mortgage.
- Judging by the C and F mortgage reviews we concluded that they are a low-fee lender as they do not have any extra charges for originating a loan or if the borrower pays back ahead of time.
- The company is BBB accredited and holds an A+ rating.
FAQs About Loan Company
- Where are C&F Mortgage Corp headquarters? C&F Mortgage Corp. has its corporate office headquartered at 1400 Alverser Drive, Midlothian, Virginia.
- Can I trust C&F Mortgage Corp? C&FMortgage Corp. is BBB accredited and has an A+ rating so you can trust this company.
- Is it hard to get a mortgage from C&F mortgage corp? This lender offers many mortgage types and many of them do not have strict eligibility requirements.