nbkc bank Review

In a Nutshell

nbkc bank mortgage loans cover both purchase and refinancing loans, including VA and FHA loans. nbkc bank uses advanced algorithms to speed up the loan approval process. You can select from a range of repayment terms; there are no obligatory lender fees; and most of all, nbkc bank has a very high reputation for excellent customer service.

ProsCons
Excellent customer service ratingsNo 24 hour live chat
Wide range of repayment terms, VA and FHA loansNot enough information on the website
Transparent pricing 

nbkc bank at a Glance

Loan typesPurchase, refinance
Featured loansConventional and FHA purchase, FHA and Refi Plus refinance loans, VA loans
Repayment terms10-, 15-, 20-, 15-, and 30-year fixed rate mortgage or 3-, 5-, or 7-year ARM mortgages
Minimum down payment3.5%
Minimum credit scoreNot specified
Best forBorrowers with at least 630 credit scores, or veteran

 

Visit nbkc bank

Overview

nbkc bank is a national bank and mortgage lender based in Kansas City, Missouri, that offers a wide range of repayment terms for home purchase and refinancing, as well as FHA loans and VA loans. nbkc bank stands out for good customer service and no obligatory lender fees.

  • Excellent customer service
  • Terms between 10-30 years for fixed-rate mortgages, and 3-7 years for ARM
  • VA and FHA loans
  • Home purchase and refinancing loans

Best For?

nbkc bank mortgages are best for borrowers with a credit score of at least 620 for the lowest rates. nbkc bank loans are ideal for first-time buyers and veterans, thanks to the strong customer support, VA loans, and FHA loans for first-time buyers.

Types of Loans/Products

Conventional Mortgage

Home buyers can get a conventional fixed-rate or variable-rate ARM mortgage.

  • Minimum credit score: 620
  • Average APR: Beginning at 4.893% for a 30-year fixed rate, or 5.319% for 5/1 ARMDown payment: at least 5%
  • Loan repayment term: 10-30-year fixed rate; 3-7-year ARM

FHA Mortgage

FHA mortgages are available for qualified first-time buyers. FHA mortgages require a lower minimum down payment and are easier to qualify for than conventional mortgages.

  • Minimum credit score: 620
  • Average APR: not given
  • Down payment: at least 3.5%
  • Loan repayment term: 10-30-year fixed rate; 3-7-year ARM

FHA Refinancing

nbkc bank’s FHA refinancing allows you to move all or part of your existing mortgage debt to another loan. You can do this to release equity in your home, or to lower your mortgage payments. If you choose FHA Streamline refinancing, you can lower your mortgage payments or switch between a fixed- and variable-rate mortgage, but you can’t take any cash value out of your loan.

  • Minimum credit score: 620
  • Average APR: Beginning at 4.893% for a 30-year fixed rate, or 5.319% for 5/1 ARMEquity: At least 3%
  • Loan repayment term: 10-30-year fixed rate; 3-7-year ARM

ReFi Plus

This is a refinancing loan offered to homeowners with Fannie Mae mortgages whose homes have been depreciating in value. Refi Plus is a refinancing option that permits you to skip PMI payments, even if your home equity is below 20%.

  • Minimum credit score: 620
  • Average APR: Beginning at 4.893% for a 30-year fixed rate, or 5.319% for 5/1 ARMEquity: Below 20%
  • Loan repayment term: 10-30-year fixed rate; 3-7-year ARM

VA Loan

Veterans are eligible to apply for a VA loan, that comes without any lender fees or origination fees and with special low rates.

  • Minimum credit score: 620
  • Average APR: Beginning at 4.266% for a 30-year fixed rate, or 4.390% for 5/1 ARMDown payment 0%
  • Equity for refinancing: At least 5%
  • Loan repayment term: 10-30-year fixed rate; 3-7-year ARM
NBKC Bank Review

The Application Process

You can complete your application online or over the phone. The nbkc bank portal allows you to track the progress of your application. You’ll also be connected with a loan officer, who’ll share his or her phone and email details so that you can ask for help whenever you need it. Because nbkc bank only has 4 branches, you won’t be able to get in-person support unless you live in or near Kansas City.

You can expect to be asked for:

  • Your personal details, date of birth, and residential addresses for the last 2 years
  • Your Social Security number
  • Your current monthly salary, pre-tax, and details of all your liquid asset accounts, such as checking accounts and IRAs
  • Information about any other real estate you own
  • The names and addresses of your employers for the last 2 years, 2 years of W2 forms, and your last month’s pay stubs
  • If you’re self-employed, you may need to send previous tax returns
  • Documentation regarding existing debts
  • If you’re applying for a VA loan, you’ll also need to send your Certificate of Eligibility and DD214, and information about any service-related disabilities

Here’s a step-by-step breakdown of how to apply for a mortgage through nbkc bank:

  1. Complete the application online or over the phone
  2. Wait for a loan professional to get in touch with you with a mortgage loan offer
  3. Send your documentation by uploading it to the nbkc bank portal, or by sending it with an overnight courier
  4. Wait while nbkc bank orders an appraisal to check the value of your home. If you’re buying a property, nbkc bank will order title work through the real estate broker or the seller, and confirm the legal status of your property
  5. nbkc bank will schedule the closing of your loan
  6. You’ll sign the closing documents at a local title company or your attorney’s office, or in some cases, wherever you choose--a notary will come to you.

nbkc bank aims to provide speedy quick loan closings, but there’s no specific information about how long you can expect it to take.

Pros and Cons

nbkc bank offers a wide range of mortgage loan options with a choice of term lengths, which makes it easy for borrowers to find one that's suitable. You can choose between FHA and conventional loans, as well as VA loans for veterans. nbkc bank has clear and transparent rates that allow customers to pick the combination of fees and rates that works for them. nbkc bank has very high customer satisfaction ratings, with an average of 4.8 stars on an independent rating site. Reviews state that the company is “smooth and transparent,” as well as “extremely receptive,” and having “lightning fast responses.”

However, nbkc bank doesn’t have live chat at all hours, and phone support is only available during business hours. There’s no information online about loan fees, what documents are required, and how long it takes for your application to be processed. You need a high credit score to qualify.

Rates and Fees – The Bare Basics

nbkc bank charges a flat fee for mortgage origination of $675, and you can choose whether or not to pay lender fees. Unusually, nbkc bank invites borrowers to choose how much to pay in lender fees in exchange for lower interest rates.

For example, a 30-year fixed rate loan for $300,000 revealed interest rates of 4.893% APR with fees of $450, or APR of 4.541% if you pay $1,975 in fees

Rates

30-year fixed-rate

15-year fixed-rate

5/1 ARM

APR4.893%4.295%5.131%
Fees$450.00$1,050.00$3,300.00

If you’re in the market for a VA loan, you won’t have to pay any lender fees.

Repayment Terms

The 30-year fixed-rate term is the most popular among first-time home buyers, but you can also choose fixed-rate terms of 10, 15, 20, or 25 years. Variable-rate mortgages come with fixed-rate periods of 3, 5, or 7 years.

Help & Support

nbkc bank customers can access customer support via email, or through the central toll-free support phone line on 888.905.2165. Phone support is available during standard business hours, or you can use the online web form to request help outside of those hours.

nbkc bank also has an information and resource center that is stocked with advice, calculators, and guides to nbkc bank financial products, but is frustratingly short on details about nbkc bank loans.

How This Company Compares

 
Credit requirement620+520-620+620+
Minimum down payment3.5% for FHA mortgages, 5% for conventional mortgages0%-20%, depending on mortgage typeNot specified
DTI ratioNot specified45%Not specified
Loan fees$675 or lessAround 3% of the loan valueAverage $3,598
Best forGreat customer serviceMany loans choicesA quick answer to your mortgage application

Summary

nbkc bank offers both purchase and refinancing loans, as well as VA and FHA loans, with a range of repayment terms. There are no obligatory lender fees, but rates are high compared with competitors. nbkc bank stands out for its excellent customer service, combined with the convenience of an online application.

nkbc FAQ

  • Can I switch from an ARM to a fixed-rate mortgage?

Yes, you may refinance your mortgage to switch from variable to fixed rate.

  • Can I take out a mortgage with a co-borrower?

Yes. You’ll just need to provide your co-borrower’s details when you apply.

  • Am I able to apply for a mortgage with NKBC without having to upload documents to the web?

Yes, you can bring documents into the branch if you live near to one of the 4 Missouri branches, or send them with an overnight courier.

  • Do you offer mortgages in my state?

Yes, nbkc bank offers home loans in each of the 50 states and Washington, DC.

Physical Address

8320 Ward Parkway

Kansas City, MO 64114

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