Although NBKC is a small community bank with only 300 employees, NBKC is licensed to provide mortgages in all 50 states. And it seems to be successful in this area.
NBKC ranks high on customer review platforms and showed competitive mortgage rates in our own comparison. It also has top notch digital tools that can make the home loan process much easier.
However, NBKC only has four offices. And they're all in or around Kansas City, MO. So if you want to engage with someone in person, the options are limited.
NBKC is also a little less competitive for lower credit borrowers and does not offer USDA loans.
But for people who aren't in such situations, NBKC might be a good choice. It pays to get a personalized rate from the NBKC website to see if this lender can get you a good deal on your mortgage.
Compare NBKC mortgage rates
Looking at the 2019 data, NBKC appears to offer significantly lower mortgage rates on average than some other large lenders.
And the rates have dropped a lot since 2019. Therefore, your rate is likely to be even lower than what is shown.
But remember, prices always vary from person to person. You need to get custom estimates to know which lender is most convenient for you.
Average 30-year mortgage rates at major banks
30-year average interest rate, 2019
Monthly P&I payment *
Median Loan Costs, 2019
Median Origination Charge, 2019
NBKC makes it easier to preview your mortgage rate than many other lenders. Just answer a few common questions including:
The state in which to buy your probable credit. Type and price of the HomeDown payment amount
Typically, you will see five different interest rates for each loan type, so you can explore your rate and fee options without speaking to a loan officer.
Average tariff and fee data comes from public tariff and fee records required by the Home Mortgage Disclosure Act (HMDA).
* Monthly principal and interest payment based on a home price of $ 250,000 down 20% assuming an average 30 year interest rate for each business for 2019. Your own interest rate and monthly payment will vary.
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NBKC Mortgage Lenders Review for 2020
Some mortgage lenders have many unsatisfied customers and some relatively few. NBKC belongs to the second group.
Everywhere you look for online customer reviews, NBKC fans are in power. The formula for success can be based on a combination of effective technology and strong human support. Surely many have noted the efficiency and helpfulness of the NBKC loan officers.
This lender doesn't have too many downsides. What's worth noting, however, is that NBKC may not be of any help if you have below average bankrolls. This bank generally only accepts mortgage borrowers with a credit score of 620 or higher.
And if you want to speak to a mortgage professional in person, you may be out of luck. NBKC only has offices in Kansas City.
NBKC charges a standard origination fee of $ 675 along with other third-party closing costs. However, this fee is waived for customers who qualify for VA loans.
Working with NBKC
If you are familiar with technology, NBKC should be easy to work with. The IT systems are intuitive, user-friendly and extremely effective. And they have all of the features you would expect from a digital lender.
NBKC has an app for mobile devices, an e-signature function for remote signing of documents and secure messaging.
These systems are supported by proactive loan officers who are available over the phone to provide information, advice and guidance.
If you prefer, you can call a loan officer right from the start. He or she will then send you a loan application form that you can fill out and send back. And you can do the whole process by phone and mail.
Only those who live near Kansas City are likely to have access to a stationary location.
Customer service and mortgage service
NBKC receives an A + rating from the Better Business Bureau. This is not uncommon for a good lender, although many fall short.
What rarely happens is that NBKC also got a five-out-of-five-star rating on BBB in the Customer Reviews section.
Mortgage complaints from major lenders
Mortgage origins 2019
CFPB complaints 2019
Complaints per 1,000 mortgages
2019 JD nominal power
N / A
And it's not just the BBB website that makes NBKC shine. It gets the same top rating on the Zillow and Credit Karma websites. Yelp is awarded four out of five stars.
Unfortunately, we are unable to rate NBKC's customer satisfaction levels alongside other lenders. This is because it was too small to be included in J.D. Power to get listed for mortgages.
No customer complaints for NBKC?
A search of the Consumer Financial Protection Bureau (CFPB) database of consumer complaints found no complaints under the names "NBKC", "NBKC Bank" or "National Bank of Kansas City". There were also no hits under "Ameri-National Corporation", of which the bank is a subsidiary.
It did not seem unbelievable for a single customer in many thousands to have filed a complaint with the CFPB.
So we checked with NBKC. And a spokesman confirmed that he knew nothing. So we have to assume that this lender is truly remarkable (and possibly unique) in this regard.
Mortgage loan products at NBKC
If NBKC has a specialty, it is likely VA loans. VA mortgages are available to veterans and current service members and offer no down payment and competitive interest rates.
But NBKC has a broad portfolio of other mortgage loans too. You can probably find what you want among them.
NBKC's full mortgage loan portfolio includes:
Fixed rate loans – NBKC offers Fixed Income Mortgages (FRMs) in 10, 15, 20, or 25 years, plus the most popular choice of 30 yearsVariable Rate Loans – Set a lower interest rate than standard market rates for the first few years. After that, your interest rate can go up or down every year. Most people lock up for five years, known as a 5/1 ARMVA loan – These Department of Veterans Affairs sponsored zero down payment loans are available to eligible service members and veteransFHA loan – FHA loans supported by the Federal Housing Administration have more flexible loan requirements, but you will often need to get mortgage insurance Jumbo Loans – Borrow more than most mortgages allow. The current limit for non-jumbo loans is $ 510,400
Those who are not eligible for a VA loan but have relatively low savings may find an FHA loan attractive. These government-guaranteed mortgages require a down payment of only 3.5 percent of the purchase price.
And for buyers who qualify for a traditional loan (one backed by Fannie Mae or Freddie Mac), NBKC offers the standard fixed and floating rate mortgages. Terms of 10 to 30 years are available, and NBKC mortgage rates are often competitive.
NBKC does not offer USDA mortgages. These loans, backed by the U.S. Department of Agriculture, allow zero down payment in eligible rural and suburban areas. If that works for you, you will need to check with other mortgage lenders.
See Which Loan Program You Qualify For Today (Sep 20, 2020)
NBKC Mortgage FAQ
What does NBKC stand for?
NBKC stands for "National Bank of Kansas City". As the name suggests, NBKC only has physical locations in Kansas City. However, mortgage customers in any state can obtain a loan from NBKC by applying online or over the phone.
Is NBKC FDIC insured?
NBKC has been FDIC insured since its inception in 1999. FDIC insurance protects customer deposits with banks like NBKC in the event that the bank should ever fail.
Is NBKC Bank Legitimate?
It may seem strange to get a mortgage from the National Bank of Kansas City if you live anywhere other than Kansas. But NBKC is worth a look no matter where you live. It is licensed for lending in all 50 states and has an excellent reputation for customer service and affordable rates. NBKC is especially good for people who like technology as it offers great digital functionality for banking and credit customers.
What is a good mortgage rate right now?
Mortgage rates today fluctuate much more than usual. Overall, however, they are hovering at or near historic lows. In this environment, the key knows when to block. If you want to find the lowest rate, keep an eye on the news and get your course offers on a day when the averages are low. Then choose the best deal and finalize it with the lender.
What are points on a mortgage?
You can use points on a mortgage, also known as "discount points" or "mortgage points", to lower your interest rate. One point typically costs 1% of the loan amount paid on completion and lowers your mortgage rate by around 0.25%. For example, if NBKC offered you a 3.5% mortgage rate on a $ 250,000 loan, you might be able to buy one point for $ 2,500 and lower your interest rate to 3.25%.
Where can you get a mortgage with NBKC?
Kansas City National Bank NMLS ID: 409631
You can apply for an NBKC mortgage anywhere in the US. It is licensed in all 50 states.
However, you can only get a mortgage in person if you live in close proximity to Kansas City. This is the only place NBKC has physical branches.
Otherwise, you will have to use either online technology or telephone and postal services.
Fortunately, NBKC's online technology is superb. And it's backed by the same helpful loan officers you deal with on calls, no matter how you apply.
Is NBKC the Best Mortgage Lender for You?
We always look for the pros and cons when we consider a mortgage lender. However, it's rare that we find as little criticism as we do in this NBKC mortgage lender review.
If you're not determined to get a personal loan and don't live near Kansas City, there's a good change here. NBKC could be a good mortgage lender for you.
However, as always, remember to compare the personalized rates of some different lenders before making a decision. As you can see above, each lender charges different interest rates on the same type of loan.
Find your lowest price using the link below.
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