About BNC National Bank
In its 30 years of providing mortgages, BNC National Bank has funded more than $11 billion in loans. It focuses on one-on-one communication with borrowers and on expanding its digital mortgage division. The bank specializes in helping veterans and first-time homebuyers with their mortgage loan needs.
Overall Satisfaction Rating
- 5 stars
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- 1 stars
- Experienced VA lender
- Has an Apple/Android mortgage app
- Focuses on interacting with borrowers
- Tough to find info on its loan products
- Physical offices in only seven states
BNC National Bank is a full-service bank offering digital banking and mortgage products. It’s a seasoned mortgage lender for first-time homebuyers and veterans. BNC lends in 50 states, but it has physical offices in only a few.
What is BNC National Bank?
BNC is a bank and equal housing lender. It claims a focus on being personable, with experienced loan originators connecting one-on-one with borrowers. The bank specializes in assistance for first-time homebuyers and veterans, and it states it can underwrite mortgage loans in two business days and close home loans sooner than the standard 30 days. While it’s licensed in all 50 states, it only has mortgage offices in seven of them: Arizona, Illinois, Kansas, Michigan, Minnesota, Missouri and North Dakota.
BNC also provides a digital mortgage experience; you can apply for a loan on your phone in less than 10 minutes, then follow up with your loan originator via phone, email or text. Moreover, its mobile app and desktop loan payment center make it simple to manage your mortgage payments.
The bank also provides a host of educational resources to assist you in making informed decisions about your mortgage and to help you understand the process. Several mortgage calculators are available, as well as articles about mortgage basics like VA loans, Private Mortgage Insurance (PMI), closing costs and FHA loans.
BNC National Bank mortgage services
BNC National Bank offers various mortgage services, especially for veterans and first-time homebuyers; it claims that over half its business comes from veterans. BNC’s loan options include conventional, FHA, USDA, VA, second home, non-owner purchase and refinancing mortgage loans. These loans can be used for home purchase, home improvement, refi, cash-out refi and other situations.
BNC National Bank rates
Many factors go into determining your mortgage rates, including your credit score, the loan-to-value ratio on your house, current benchmark rates and inflation. The result is that it’s hard to specify a set rate from a mortgage lender.
While you won’t find BNC’s rates online, you can use its mortgage calculators to figure out how much house you can afford, whether you should pay points and more. These calculators are meant to be helpful but aren’t intended to guarantee eligibility or accuracy when it comes to your personal situation, however.
BNC National Bank FAQ
- What kind of loans does BNC National Bank offer?
- BNC National Bank specializes in loan options for first-time homebuyers and veterans. It provides a wide array of mortgage products, though, including VA, FHA, USDA and refinancing loans.
- Where are BNC National Bank locations?
- BNC National Bank has mortgage offices in Arizona, Illinois, Kansas, Michigan, Minnesota, Missouri and North Dakota.
- Can I pay my BNC National Bank mortgage online?
- Yes, BNC has a loan payment portal where you can make payments, view your payment history and manage your payment accounts. You can also do the same on its mortgage app.
- What does your credit score need to be for a BNC National Bank mortgage?
- BNC doesn’t disclose this information on its website, but it does ask how your credit is during the home mortgage application process. Although this suggests your credit score plays a role in your application approval, BNC looks at your applications as a whole to determine your loan eligibility.
Is BNC National Bank reputable?
Yes. BNC National Bank is a reputable bank and mortgage lender that can help you purchase your dream home. It’s experienced in helping veterans and first-time homebuyers find the right products and resources, and it offers a quick application process and helpful educational tools. While it doesn’t publish mortgage loan rates or give detailed descriptions about its loan products online, the company boasts one-on-one connections with borrowers, so a representative should be able to answer any questions you may have.
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We did an equity program with BNC where we took the value out of the home so that we could do some home improvement. I really like them a lot. They did a great job and I didn't really need to do much. I talk to my loan rep all the time and he is great. He definitely helped me out with reducing the points. He was super honest and he had my best interest in mind. We're actually putting the money back into the house so that the equity would get higher for the house.
Having done this kind of thing before, I already had an idea. There are going to be gaps in terms of what BNC can do. They're going to order your credit rating then you'll be getting this need for paperwork then nothing. It's on the mortgage company. My rep did a great job communicating that with me. In terms of setting expectations for customers, that was really good. BNC was very organized in terms of what we needed and there was a list. Their portal really helped too. I was able to get the list then forward the documents to them. The uploading process was really easy. We had a glitch in one of the documents but we just sent it to the loan officer working on it and they were able to put it in.
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The reps seemed like they were very knowledgeable, professional and informative. The application process was pretty straightforward and it didn't feel as complicated or invasive as it did. The process overall went a lot smoother than it did with our first house loan. It went pretty well. The only issue that I've had with them was during post-process. It was kind of a confusing piece of thing.
BNC Bank is a broker. So as soon as you finish the loan process, BNC is going to sell that loan to a bank that will facilitate it going forward. I knew that from the beginning. But what happened was I had come into it after we had finished all of the refinance process, and they said, “Okay. Now you're going to make your first mortgage payment to BNC Bank. And then after that, your loan is going to be probably facilitated over to this bank where you'll set up everything on their portal, and you'll be making payments to them going forward."
I sent my payment to BNC Bank but after two weeks, they still hadn't cashed that mortgage check. So then I had to call them and they had said, “Oh, yeah. Well, your loan had already been sold over to the other bank and so we just forwarded your check over there.” I had to contact the new bank and make sure that they got my check. They told me, “Oh, yeah. We got your check but we have to have BNC endorse it. So we had to send the check back to BNC." So now, it's been 19 days since I've sent the first mortgage payment, and that check has still not been cashed by anybody. They've marked it paid on time on the mortgage thing. But I had anticipated that it would go smoother. The whole rest of the process was so smooth that it surprises me that this part of it isn't more streamlined.
This is the fourth time I've worked with BNC National Bank. The agent that I work with is phenomenal. She’s flexible. She keeps me updated. She is above par on all levels. She does all the legwork, makes things happen, and sends me the paperwork to sign. So, with BNC, I get better rates, better service and better results. On this last refinance, I did attempt to go through my local bank, and their rates are not good even though they’re a credit union. They were a pain. They wanted to charge me for my own credit report. So, I went back to BNC. They charged me to pull my credit but as part of the whole system, they don't charge me upfront. They waive a bunch of fees for veterans. So, I'm not gonna find a cheaper opportunity.
Through the application, somebody reaches out to you and says, “Hey, got your thing. Do the stuff. Email these documents to continue processing.” It's all routine. It's the same crap you got to do whenever you refinance or finance anything. However, as I've used the same agent repeatedly now, the application process is a phone call. She goes, “All right. I'll run the numbers and send you an email.” They do all the things.
On the first couple times I used them, I had my own title company, so I went there to do the closing. The last time, I used their title company and they sent them out to me to my residence to sign the papers for the closing. I can't ask for more than I could make a phone call, refinance two homes at the same time, and they get it processed. BNC is good. You can't ask for a simpler process, especially a repeat customer to make a phone call and make things happen. As far as the application, it’s their standard online application. There's no trying to charge me upfront like the other bank was for my credit report.
I loved the lady that I talked to at BNC. I also called two other lenders but then, BNC gave me the best rate and their rep, Crystal, gave me lender credits. Besides that, Crystal was very proactive. But the underwriting of BNC Bank needs work. It should be something quick and painless. Crystal forwarded over emails and I had sent emails over to their underwriting reps. But instead of verifying that they received the emails, they kept asking for the same documentation. That was okay when you deal with someone that has time in their hands, but that was not the case for somebody like me and my family.
I sent everything the first day that the underwriting rep was asking for. I sent most of all these particular documents and the ones that I did not send, I put an explanation. But they kept asking for them or they said they never received the documents. Then, I had to forward over the email again. Now if you're in underwriting, that means you have to be very nitpicky and you have to have attention to detail. So I couldn't understand how an underwriting department would miss emails like that.
BNC Bank also needs to make every possible effort to contact the person they’re working with once they sell the mortgage loan. Even if the loan is closed, it would be good to get a call from Crystal or somebody from BNC Bank saying that your mortgage had been sold to Company Y and that they're sending you an email with the instructions on how to find your loan number as well as how to contact them. Steps like that would make it so much easier for everyone. In my case, I was able to figure that out but it took me 15 minutes to look it up and call people . But they already knew that information and all they had to do was draft up an email about it. Other than that, I'm going to buy another house in California and I'm going to use BNC again.
I just met Vic and the bank that he was with had this super low rate for veterans and nobody else could match it. I have a friend who is in the mortgage business and I ran about him. And it was a local bank. He said, "Oh, heck no. I can't even touch that. You need to take it." That has been 10 years ago. And everything I've done, I've done with Vic since. He is phenomenal. I'm 51 years old and I have refinanced quite a few times. I've owned other property. I have never had an experience like I've had with Vic. And I won't go to anywhere else.
There have even been times when I considered things and Vic told me, "Hey, the market is not right right now. Let's do this." He has my utmost respect and trust. I've not had another mortgage officer that has been more trustworthy and honest. And when he tells me he's gonna do something, he typically exceeds my expectations. I would highly recommend BNC Bank and Vic, and all the people that work with him too. Just an awesome experience.
Whoever gave me the best rate was the one I was going to go with, and on them, I could go just do the electronic signature and send it in. With BNC, I had to sign and then scan back to them. Other than that, it was good. BNC was quicker to respond and more helpful.
BNC responded really quickly. The whole process is so efficient and professional. My loan officer, Jennifer, explained from the beginning how the whole process would go and it went exactly like that. That's how I like to do things. I know what to expect, and I hope people will carry out their part, which they did. I already suggested BNC to many people.
BNC National Bank came recommended by other military members for certain rates. Some of the fees were lower than other banks and credit unions that we looked at. The initial interest rate was good. Also, the ease of using the portal was the benefit. Sometimes, it seemed documents might have gone missing and needed to be re-uploaded, but nothing was detrimental. Everything was pretty much done. The rep was available over text or email to get back to me.
I put in a couple of call requests and BNC National Bank came back with the lowest interest rate. It seemed to go well when I went to the online portal to make sure everything was arranged. The rep was personable and responsive to questions and emails. That goes on everything we needed to know. Everything went very smoothly. We got through the whole home-buying process quickly, and all done. BNC is worth taking a look into if you needed financing.
It's my second time using BNC National Bank for refinancing. And Crystal, I couldn't ask for a better agent to be able to help. It was almost like she felt my vibe. And less than a week later, she reached out to me. The two-way communication was great. So, everything worked out as I hoped. The process was as smooth as it was the first time. And Crystal was prompt on everything that she needed. She didn't wait to give it to me, and I didn't wait to give her back the information that she required. It was a very quick process. Even the last time, we did everything in less than a month. It might have been quicker this time. It all depends on when they ask for something, it's up to the client to be prompt to give them the information, whatever she sent by email. Also, she was always there to answer my phone calls, and she always returned my calls. The refinancing saved me a lot of money.
BNC National Bank Company Information
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- BNC National Bank