NBKC Mortgage Lender Review for 2020

Compare NBKC mortgage rates

NBKC makes it easier to preview your mortgage rate than many other lenders. You won’t know your exact rate until you talk to a loan officer, but you can get a personalized estimate in seconds. Just answer a few general questions, including:

• The state where you’re buying
• Your likely credit score
• Type and price of the home
• Down payment amount

You’ll typically see five different rates for each loan type. These rates are based on how many “mortgage points” you want — meaning how much extra you’d like to pay upfront for a lower rate on your mortgage.

30-year fixed-rate mortgage estimates at major banks

We compared NBKC with the biggest banks and mortgage lenders in the U.S. We found that its rates and monthly payments are more or less average. However, rates differ based on the types of clients and programs a lender specializes in.

Rates shown here are current as of 11/26/2019. Monthly principal and interest payments are based on a home price of $240,000 and down payment of 20% for a home located in Washington. 

These numbers are a snapshot meant for general comparison only. Your own mortgage costs will vary depending on your loan, your finances, the economy, and other factors.

NBKC mortgage lender review for 2020

Some mortgage lenders have loads of dissatisfied customers and some relatively few. NBKC is in the second group.

Everywhere you look for online customer reviews, NBKC fans are out in force. Its winning formula may be down to a combination of effective technology and strong human support. Certainly, many have noted the efficiency and helpfulness of NBKC loan officers.

NBKC cites outstanding reviews on its site, and we were able to verify those claims on multiple platforms

This lender doesn’t have too many drawbacks. But one worth noting is that NBKC might not be helpful if you have sub-par credit. This bank generally only accepts mortgage borrowers with a 620 credit score or higher.

And if you want to talk to a mortgage professional face-to-face, you might be out of luck. NBKC only has branches in Kansas City.

NBKC does charge a standard origination fee of $675 alongside other third-party closing costs. However, it waives that fee for customers who qualify for VA loans.

And, owing to a marketing deal the bank has with retailer Costco, the latter’s members can get significant discounts on that fee. How much members will save will depend on their membership status.

Working with NBKC

If you’re comfortable with technology, working with NBKC should be easy. Its IT systems seem intuitive, easy to use and highly effective. And they come with all the functionality you’d expect from a digital lender.

NBKC has an app for mobile devices, an e-signature capability to sign documents remotely, and secure messaging.

These systems are backed up 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 for you to complete and return. And you can carry out the entire process by telephone and mail.

Only those who live close to Kansas City are likely to have access to a brick-and-mortar location.

Customer service and mortgage servicing

NBKC is an accredited business with the Better Business Bureau. And, on the day we checked, it had the highest rating there (A+).

That’s not wildly unusual for a good lender, though plenty fall short. What is rare is that NBKC also got a five-out-of-five-star rating in the customer reviews section on BBB.

And it’s not just the BBB’s site where NBKC shines. It gets the same top rating on Zillow and Credit Karma’s websites. It even gets four out of five stars on Yelp.

Unfortunately, it’s impossible for us to rank NBKC’s customer satisfaction on a side-by-side basis with other lenders. That’s because it was too small to appear in J.D. Power’s 2019 Mortgage Origination survey.

Mortgage-Related Complaints at Major Lenders

No customer complaints at NBKC?

A search of the consumer complaint database run by the Consumer Financial Protection Bureau (CFPB) uncovered zero 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.

For not a single customer out of many thousands to have made a complaint to the CFPB seemed incredible.

So we checked with NBKC. And a spokesperson confirmed that he was unaware of any. So we have to assume that this lender is truly remarkable (and possibly unique) in this respect.

Mortgage loan products at NBKC

If NBKC has a specialty, it’s probably VA loans. VA mortgages are available for veterans and current service members, and offer zero down payment and competitive rates.

But NBKC has a wide portfolio of other mortgage loans, too. Chances are, you’ll be able to find what you want among them.

NBKC’s full mortgage loan portfolio includes:

• Fixed-rate loans — NBKC offers fixed-rate mortgages (FRMs) that last 10, 15, 20, or 25 years — as well as the most popular choice of 30 years
• Adjustable-rate loans — Lock in a lower interest rate than standard market rates for the first few years. After that, your interest rate can increase or decrease each year. Most people lock for five years, known as a 5/1 ARM
• VA loans — Backed by the Department of Veterans Affairs, these zero-down-payment loans are available to eligible military members and veterans
• FHA loans — Backed by the Federal Housing Administration, FHA loans have more flexible credit requirements but often require you to pay mortgage insurance
• Jumbo loans — Let you borrow more than most mortgages allow. The current limit for non-jumbo loans is $510,400

Those who are ineligible for a VA loan but who have relatively small savings may find an FHA loan attractive. These government-guaranteed mortgages require a down payment of as little as 3.5 percent of the purchase price.

And for buyers that qualify for a conventional loan (one backed by Fannie Mae or Freddie Mac), NBKC offers the standard fixed-rate or adjustable-rate mortgages. Term lengths 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 qualified rural and suburban areas. If that sounds like a good fit for you, you’ll have to check with other mortgage lenders.

Where can you get a mortgage with NBKC?

National Bank of Kansas City NMLS ID: 409631

You can apply for an NBKC mortgage anywhere in America. It’s licensed in all 50 states.

However, you’ll only be able to get a mortgage in person if you live within striking distance of Kansas City. That’s the only place NBKC operates physical branch locations.

NBKC mortgage branch locations

NBKC — formerly the National Bank of Kansas City — only has branch locations in its home city

Otherwise, you’ll have to use either online technology or telephone and mail services. Luckily, that online technology is excellent. And it’s backed up by the same helpful loan officers you’ll deal with in calls — no matter how you apply.

Is NBKC the best mortgage lender for you?

We always look for both pros and cons when we review a mortgage lender. But it’s rare that we can find so little to criticize as in this NBKC mortgage lender review.

Unless you’re determined to have an in-person borrowing experience and don’t live near Kansas City, there’s a good change NBKC could be a good mortgage lender for you.

But as always, remember to compare personalized rates from a few different lenders before choosing. As you can see above, every lender charges different rates for the same loan type.

Find your lowest rate using the link below.