NBKC Mortgage Lender Review

Lending flexibility 3.5
Customer service 5.0
Ease of application 5.0
Online experience 4.5
Minimum down payment 3.5%
Minimum credit score 620
Loan Products Offered

Fixed-rate mortgage
Adjustable-rate mortgage
Jumbo mortgage
VA mortgage
FHA mortgage

Best Features

  • End-to-end digital services on desktop and mobile
  • Outstanding customer reviews
  • Competitive rates and closing costs
  • Discounts for Costco members

Drawbacks

  • Branch locations only in Kansas City
  • May not have options for some borrowers with lower credit
  • No USDA loans

Overview

Despite being a small community bank with just 300 employees, NBKC is licensed to provide mortgages in all 50 states. And it seems to be achieving success in that field.

NBKC is highly rated on customer review platforms, and showed competitive mortgage rates in our own comparison. It also has first-rate digital tools that can make the home loan process a lot easier.

That said, NBKC has only four branches. And they're all in or around Kansas City, MO. So if you want to deal with someone face-to-face, options are limited.

NBKC is also a little less competitive for lower-credit borrowers and does not offer USDA loans.

But for people not in those situations, NBKC could be a good choice. It's worth getting a personalized rate from NBKC's website to see if this lender can offer you a good deal on your mortgage.


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

 
NBKC Mortgage
Quicken Loans
Wells Fargo 
Chase
Interest Rate1
3.625% 3.875% 3.625% 3.625%
APR2
3.74% 4.151% 3.74% 3.688%
Mortgage Points3
1.25 2.125 0.375 1.0
Monthly P&I Payment 
$876 $903 $876 $876

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.

Verify your new rate (Dec 8th, 2019)

NBKC mortgage lender review for 2019

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 Mortgage Satisfied Customers, NBKC Mortgage Review from The Mortgage Reports

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.

Company
Mortgage Originations4
CFPB Complaints5
Complaints per 1,000 mortgages6
2019 JD Power Rating7
NBKC Mortgage
11,500 0 0.0 Not rated
Quicken Loans
396,000 170 0.43 880/1,000
Wells Fargo 
312,000 419 1.34 837/1,000
Chase
155,000 202 1.30 850/1,000

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 $484,350

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.

See what loan program you qualify for today (Dec 8th, 2019)

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 Branch Locations, NBKC Mortgage Lender Review from The Mortgage Reports

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.

Verify your new rate (Dec 8th, 2019)

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  1. Interest Rate: The rate you pay in interest per year based on the current loan balance.
  2. APR: The total cost of getting the loan including the interest rate and closing costs.
  3. Discount Points: Mortgage points, also known as discount points, are fees paid directly to the lender at closing in exchange for a reduced interest rate. - Read More
  4. Mortgage Originations: The number of mortgages this lender closed. The most recent data available is from the 2017 Mortgage Market Activity and Trends, Consumer Financial Protection Bureau (CFPB), published May 2018.
  5. CFPB Complaints: The number of mortgage origination or closing related complaints filed with the Consumer Financial Protection Bureau in 2018. We ignore complaints about issues that don't concern mortgage applications and closings, such as loan servicing, since some lenders don't service loans and therefore would have an unfair advantage in complaint numbers.
  6. Complaints per 1000 mortgages: The number of mortgage-related complaints compared to this lender's total mortgages originated. Due to data availability, we're comparing 2017 originations with 2018 complaints to arrive at the number of complaints per 1000 mortgages originated.
  7. JD Power Rating: On a 1,000 point scale, consumer insight company JD Power scores large banks across six factors: channel interactions, deposit accounts, credit accounts, investment accounts, convenience, and problem resolution.