NBKC Bank Mortgage Pros and Cons
- Nationwide availability
- Low rates and fees
- Can see customized estimates without handing over your contact details
- Accepts alternative credit data on some loans
- No lender fees on VA loans
- Only four branch locations
- Some products only available in the Kansas City metro area
- No renovation, jumbo, or USDA loans
- Requires a hard credit check for preapproval
NBKC Bank Mortgage Overview
NBKC Bank is a Kansas City-area bank that offers a variety of traditional banking services, non-home loans, and mortgages.
As a mortgage lender, they boast low fees, a full online application process, and competitive interest rates.
And though their preapproval process can take more than 24 hours, you can get prequalified the same day if you provide the required information upfront.
However, their preapproval process can take more than 24 hours.
To get started with this mortgage originator, you can apply online or call anytime for help. Each application is assigned a dedicated loan officer who shares their contact information in case you have after-hours questions or emergencies. Moreover, you can pause and return to your application any time before submission.
Once your application is in, you can track the underwriting process online, upload documents, and e-sign disclosures.
The entire process usually takes 30 days after preapproval. And if you don’t close on time, NBKC will pay each you and the seller $2,500 under their $5K Close-On-Time Guarantee.
What Types of Mortgages Does NBKC Bank Offer?
NBKC Bank primarily sticks to the basics with loans like:
This mortgage originator’s fixed-rate loan terms range from 10 to 30 years. You can also select from a variety of adjustable-rate terms, such as 3/1, 5/1, 7/1, and 10/1. Interest-only ARMs are also available to borrowers who can afford making a balloon payment at the end of their term.
If you’re in the Kansas City area, you may also apply for the bank’s construction and home equity products. Unfortunately, these loans aren’t available to residents outside a defined area.
Moreover, NBKC doesn’t originate USDA or renovation loans. And the lender’s website makes no mention of jumbo loans of any description.
NBKC Mortgage Qualification Requirements
NBKC doesn’t list its mortgage requirements online, but it does adhere to the conforming loan requirements set by Fannie Mae and Freddie Mac. These include a down payment minimum of 3% and a credit score of 620 or higher.
The lender also requires a 620-credit score for its government-backed mortgages. That said, borrowers applying for government-backed mortgages may be able to qualify with alternative credit data.
NBKC Bank Mortgage Rates and Fees
NBKC Bank charges a standard $675 mortgage origination fee plus third-party fees in its closing costs. But the bank waives all origination, underwriting, and processing fees for VA borrowers.
Refinancing Mortgages with NBKC Bank
NBKC Bank originates cash-out and rate-and-term refinances, plus FHA Streamline and VA refinancing options. You can view the current rates online or by contacting the lender directly.
NBKC Bank Mortgage Features and Benefits
View Customized Rates
NBKC lets you easily view customized rates under the “Home Loans” tab on its website. All you have to do is fill out a short form indicating whether you’re buying or refinancing, information about the home and your down payment, and your credit score. (No contact details required!)
Then, NBKC will show you realistic rates for various loans, including 15- and 30-year fixed and 5/1 ARMs.
The website also breaks down each loan by rate, APR, fees and points, and the estimated monthly principal and interest payment.
With NBKC, you can complete your entire mortgage application online, from initiation to document uploading to closing.
You can also get prequalified and preapproved online with just basic information. And if you’re just browsing, NBKC provides several mortgage and refinancing calculators to estimate your payments, plus free online resources on the mortgage process, credit scores, and even a glossary.
Strong Industry Reputation
It’s rare to find a mortgage originator or servicer with few complaints – and yet, NBKC makes the list.
The lender has an A+ rating from the Better Business Bureau and a five-star rating in the customer reviews section on the BBB site.
Customer ratings on other sites are similar, with NBKC earning top ratings on Zillow, our website, and Yelp.
Every borrower is assigned a dedicated loan officer to walk them through the lending process as needed.
Moreover, loan officers’ hand out their personal contact information so that you can ask questions during evening and weekend hours.
NBKC Bank Drawbacks
Some Loans Geographically Limited
NBKC does offer home equity products and construction loans, but only to borrowers in the Kansas City area.
Most borrowers seeking to build a house or borrow against current home equity will need to find another lender.
Only Four Branch Locations
In addition to its products being geographically limited, the bank itself has some location limitations.
Borrowers who want the face-to-face experience will need to stop by one of the bank’s four branches in the Kansas City metro area.
Key Loans Aren’t Available
Unfortunately, NBKC doesn’t offer renovation or USDA loans, period. And the lender makes no mention of jumbo loans on its website.
How Does NBKC Bank Compare to Other Mortgage Lenders?
#1. NBKC Bank vs. Quicken Loans
Quicken Loans is an online bank with no physical branches to speak of. This originator services all 50 states with its digital and phone-based lending process, with eClosing available in every state.
Borrowers can take out various conventional, government-backed, and nonconforming loans from this popular lender, though its rates and fees can trend higher than the national average. Moreover, Quicken doesn’t offer second mortgages, USDA loans, or construction loans.
>> More: Quicken Loans Mortgage Review
#2. Rocket Mortgage vs. NBKC Bank
Rocket Mortgage is the digital lending service operated by Quicken Loans. Borrowers who prefer an online, self-service operation can take advantage of Rocket’s near-instant preapprovals, 90-day rate locks, and high debt-to-income (DTI) ratio maximums.
Moreover, this lender offers asset retrieval and flexible terms in all 50 states, though its loan palette is somewhat limited. And if you want a customized rate quote, you’ll need to consent to a hard credit check.
>> More: Rocket Mortgage Review
#3. NBKC Bank vs. Better Mortgage
Better.com is yet another online-only lender that boasts 24/7 digital and phone service, a whopping $3,000 in average savings, and an expedited closing period.
Though its product menu is also somewhat basic, this mortgage originator does work with borrowers with various credit histories and debt burdens. Plus, every application is assigned a dedicated loan officer to walk you through the lending process.
>> More: Better Mortgage Review
#4. Guild Mortgage vs. NBKC Bank
Guild Mortgage services loans in most – but not all – of the United States. Due to its in-house processing and funding services, this lender claims to close most mortgages in just two weeks.
Guild’s loan menu is quite extensive, with conventional, government-backed, jumbo, refinance, secondary, and investment property loans available, among others.
Moreover, this lender requires a minimum credit score about 20 points lower than average and partners with hundreds of down payment assistance programs to help you get into a good home.
>> More: Guild Mortgage Review
NBKC Bank Mortgage FAQs
Is NBKC Bank a Good Choice for Mortgages?
NBKC is a good mortgage originator if you have solid credit, want low fees, or qualify for a VA loan. And if you’re in the Kansas City area and want to bank where you take out your mortgage, NBKC may suit your needs.
How Do NBKC Bank Mortgage Rates Compare to the National Average?
NBKC’s rates are competitive with to right in line with the national average, depending on the borrower.
Does NBKC Bank Offer Mortgage Refinance?
NBKC offers cash-out, rate-and-term, FHA Streamline, and VA refinancing (VA Streamline & VA Cash-Out).
What Credit Score Do You Need for a NBKC Bank Mortgage?
You need at least a 620-credit score to qualify for conventional and government-backed loans with NBKC.
Does NBKC Bank Charge a Mortgage Origination Fee?
NBKC Bank charges a $675 mortgage origination fee plus third-party costs. The bank waives its lender fees on all VA mortgages.
Bottom Line: NBKC Bank Mortgage Review
NBKC Bank boasts an excellent customer service record, preapprovals as fast as same day, and a hybrid lending experience for borrowers nationwide.
And if you’re in the Kansas City area, the bank has even more to offer – namely, additional loan types and a full range of banking services.