NBKC Bank mortgage review 2023

NBKC Bank is an online-first bank with four brick-and-mortar branches in the Kansas City metropolitan area. Our NBKC mortgage review focuses on loans for homebuyers and homeowners, but the bank also offers traditional banking services, credit cards, personal loans, and auto loans. 

NBKC’s range of mortgage options includes conventional, FHA, VA, jumbo, and home equity lines of credit (HELOCs). While the lender doesn’t specialize in a particular loan type, a large percentage of its mortgages are backed by the Department of Veterans Affairs.

The best mortgage lenders (and best banks) offer competitive rates and low fees. NBKC mortgage rates are comparable to what other online lenders offer, and it charges a flat $250 fee for most loans (there’s no fee for VA loans), making it a worthy option for your home loan needs. Here’s a closer look to help you decide whether an NBKC mortgage is right for you. 

• Competitive rates
• Easy online application process
• View customized loan rates online 
• Leading VA mortgage lender
• Flat $250 fee (VA borrowers pay $0)
• $5,000 closing guarantee

• No USDA, renovation, or mobile home loans
• Some loans are available only to borrowers in the Kansas City metro area
• Only has four brick-and-mortar branches

• Conventional loans. These loans have stricter eligibility requirements than government-backed loans, so they’re best for borrowers with good credit scores.
• FHA loans. The Federal Housing Administration (FHA) insures these loans. They’re ideal for first-time buyers with low down payments and low-to-moderate incomes. FHA requires upfront and annual mortgage insurance for all borrowers, regardless of your down payment amount. 
• VA loans. VA loans are guaranteed by the U.S. Department of Veterans Affairs (VA). They’re offered to members of the U.S. military, including active duty, veterans, National Guard and reservists, and surviving spouses. There’s no minimum down payment or mortgage insurance, and NBKC waives the $250 lender fee. 
• Jumbo loans. A jumbo mortgage lets you finance a property exceeding the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For 2023, the limit is $726,200 for most properties and $1,089,300 in certain high-cost areas. NBKC offers loans up to $1.5 million when you meet higher credit score and down payment requirements. 
• Pilot program. NBKC offers a specialty mortgage program for pilots (and VA pilots) who may have difficulty qualifying for traditional mortgage income requirements due to how they’re paid. 
• Community Home Loan Program. NBKC’s Community Home Loan Program helps first-time and low-to-moderate-income homebuyers. The program offers 100% financing in a few counties in the Kansas City metro area and is available to borrowers with lower credit scores. 
• Refinancing. NBKC offers mortgage refinancing so you can lower your monthly payment, switch from an adjustable-rate to a fixed-rate loan, pay off your mortgage sooner, or consolidate debt.  
• HELOCs. A home equity line of credit (HELOC) lets you tap into your home’s available equity to borrow money as needed, up to your approved credit line. NBKC’s HELOCs are only available to borrowers in the Kansas City metro area.  
• Land loans. Land loans are short-term loans used to buy land in anticipation of building a home in the future. These loans often have higher down payments and interest rates than typical home loans because there’s no home to serve as collateral. 
• Construction loans. NBKC offers several types of construction loans, including FHA and VA options and a construction-to-permanent conventional mortgage product.  
• Bridge loans. These loans are short-term loans that bridge the gap between buying a new home and selling your previous one. 

NBKC Bank offers fixed-rate mortgages with terms of 15, 20, 25, or 30 years. Its adjustable-rate mortgages (ARMs) have initial fixed-rate periods of three to 10 years.

Loan details aren’t listed on the bank’s website, but an NBKC loan professional told us loans generally have to be above $100,000, with a maximum loan amount of $1.5 million. 

NBKC generally requires a minimum credit score of 620 and a down payment of at least 3.5%, with higher requirements for certain loans. Having a good credit score helps you lock in a better interest rate. 

NBKC’s rates are competitive with current mortgage rates offered by the best online mortgage lenders. You have the option to lower your rate by paying mortgage points. NBKC’s online calculator displays personalized loan options, interest rates, and monthly payment estimates based on your credit history, property type, and loan amount. 

NBKC charges a $250 flat rate fee that covers the loan application, processing, underwriting, and origination. There’s no fee for VA borrowers. Of course, you’ll still be on the hook for third-party fees for services like a home appraisal, title insurance, and recording fees. Still, a nice perk is NBKC’s $5K close-on-time guarantee: If you’re borrowing to purchase a home and the loan closes late due to an NBKC delay, NBKC will pay you and the seller $2,500.

1. The application. You can apply for the loan you want by visiting a local branch (if you live in the Kansas City metro area), online, or by phone. A loan officer will contact you after you apply. 
2. Document delivery. NBKC will send your loan documents either electronically or by overnight delivery. You’ll return the signed documents and any additional loan information to NBKC.
3. Appraisal and title work. NBKC will order an appraisal from a licensed appraiser familiar with the local real estate market. It will also work with the real estate broker or seller to ensure the title work is ordered and confirm the legal status of the property with a title insurance policy. A mortgage rate lock can hold your rate once you’re under contract.
4. Closing. The mortgage loan closing is scheduled after NBKC receives the relevant documents and the appraisal and title work is completed. An NBKC advisor will contact you before the closing to walk through the final details, and the closing will take place at a title company or attorney’s office in your area. 

TIP: A mortgage pre-approval letter from NBKC lets sellers know you’re a serious buyer. Pre-approval involves an extensive review of your financial background and credit rating after you complete a mortgage application. NBKC will pre-approve you up to a specific loan amount, giving you an idea of the interest rate once you borrow. 

NBKC is an excellent option if you’re looking for a VA loan with zero lender fees or if you want a convenient online experience. It’s also a good choice if you’re based in the Kansas City metro area and prefer in-person support. 

NBKC doesn’t provide USDA mortgages, reverse mortgages, or home equity loans, and its HELOCs are only available in the Kansas City metro area. You should look elsewhere if you want a loan that NBKC does not offer or if you live outside the Kansas City metro area and prefer a lender you can visit in person. 

NBKC Bank offers competitive rates and low fees on a range of home loan options. It has a solid reputation, earning an A+ rating with the Better Business Bureau and a 4.8 out of 5 rating on Consumer Affairs. It also has 4.94 out of five stars on Zillow (based on 13,000+ reviews), and recent reviewers say NBKC has “great rates and even better customer service,” and its loan officers are “knowledgeable and patient” and “prompt, proactive, and responsive.” 

Editorial Disclosure: All articles are prepared by editorial staff and contributors. Opinions expressed therein are solely those of the editorial team and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in this article is accurate as of the date of the publish. Check the lender’s website for the most current information.

This article was originally published on SFGate.com and reviewed by Lauren Williamson, who serves as Financial and Home Services Editor for the Hearst E-Commerce team. Email her at [email protected].