nbkc bank

nbkc bank

 4.9/5 (54 ratings)
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Written by Jennifer Schurman
Edited by Shawn Richardson

About nbkc bank

Nbkc bank (NMLS #409631) is an online financial institution with physical locations in the Kansas City area. The bank offers conforming conventional, VA, FHA and new construction loans, as well as refinancing and home equity lines of credit. You can start the application online.

Overall Satisfaction Rating

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Pros

  • Competitive rates
  • Experienced in closing VA loans
  • Offers construction loans

Cons

  • No USDA loans
  • Application not 100% online

Bottom Line

Nbkc bank is an online bank with a variety of mortgage products. Apply online, by phone or at a branch in Kansas City. It could be a solid option for veterans or those with good credit looking for competitive rates. Its online calculator lets you see estimated rates and fees.

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Rated with 5 stars
Verified

Ryan is a rock star. He is the best at what he does and was incredible throughout our entire home purchasing process. I don’t give out praise easily and I would recommend him and ...

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Rated with 5 stars
Verified

We have used Kurt several times and he never has disappointed us. He is a pleasure to work with. The application process went smoothly from the beginning of obtaining the appraisa...

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Looking to refinance your mortgage?

See which lender is best for you!

View Rates

Rates

Nbkc bank offers both fixed and adjustable rates. Fixed-rate mortgages are a popular choice among first-time homebuyers because they offer predictable monthly payments throughout the entire loan term. A fixed rate could also be helpful if you can lock in a low rate before interest rates begin to rise.

An adjustable-rate mortgage (ARM) can be riskier, but it may make sense for some borrowers. With an ARM, you’ll pay a fixed rate for a few years (usually three to seven). After the introductory period, your interest rate will reset and fluctuate based on market conditions. The low intro rate could help you save money.

Nbkc’s home purchase rates from 2019 to 2021 were lower than the national average. In 2021, the company’s average home purchase rate was 0.27% lower. Keep in mind that several factors, including location, credit history and loan type, affect your rates.

nbkc bank average home purchase rate vs. national average

YearDifference from national average
2021-0.27%
2020-0.07%
2019-0.19%
Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

You can begin the mortgage application process by visiting the home loans section of the nbkc website and clicking on the “Get Started” page. You start by entering some preliminary information and requesting a free quote. Provide information like the home’s value, your down payment amount and your estimated credit range.

The company then gives you loan options and rate quotes based on the information you provide. From there, you can start the application. If you prefer to speak with a loan officer before you apply, you can call the toll-free number provided on the company’s website.

To apply, you need to enter a valid email address (the company will send you a one-time code to begin). The information you need to enter into the application includes your residential history, employment history, declarations and demographics.

After you submit your application, a loan officer will reach out to you to gather additional information and finalize your application. Be prepared to answer questions about your income, assets and debts — nbkc bank uses these details to determine your eligibility. You may also need to upload certain financial documents, like W-2s and bank statements.

You’ll receive a preapproval decision once the company has verified your application and financial documents. Your loan officer can advise you on the timeline for preapproval decisions.

Ngan, a ConsumerAffairs reviewer from Brooklyn, New York, had this to say about their experience with nbkc bank: "The loan process itself was painless for us. She let us know that we didn't need an appraisal, explained why it was waived and gave us clear instructions as well as time to gather documents. ... Thankfully we were able to lock [the] rate, because rate[s] almost doubled in 2022."

nbkc bank application features

FeaturesAvailability
Online applicationX
Mobile document upload
Physical branchesTwo states
Publishes minimum rate on websiteX
Rate lock
Pre-qualification (no hard credit pull)X
Certified approval letter

Loan types

Nbkc Bank offers a broad selection of loan products, including conventional loans (with fixed or adjustable rates), FHA loans and VA loans. It doesn’t offer USDA loans at the time of publishing. Fixed-rate mortgages come with 10-, 15-, 20-, 25- or 30-year terms.

Nbkc bank offers specialized mortgage loan programs to airline and veteran pilots. You can also get a construction-to-permanent loan from nbkc to build a home.

The company received 10,755 home purchase applications in 2021. Of those applications, 4,870 (45%) became closed loans; about 2% (252) were denied.

Loan applications for home purchases only by year

202120202019
Home purchase applications10,75510,71311,549
Home purchase loans closed4,8704,8626,515
Home purchase applications denied252299242
Home purchase preapprovals denied335312189
Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

You can refinance your existing mortgage with nbkc bank, whether you’re looking to get cash out, shorten your loan or lock in a lower interest rate. The company also offers FHA refinances and FHA streamline refinances.

In 2021, most of the loans nbkc bank originated were for refinancing. Rate-and term refinances (48%) and cash-out refinances (26%) accounted for about 74% of the total — only 27% of the loans it closed that year were for home purchases. In 2020 and 2021, the industry saw a general increase in refinancing applications due to historically low interest rates, making refinancing more appealing to borrowers.

Since 2021, rates have steadily increased, which has made refinancing less attractive. Still, you may decide to refinance if you can save significantly on your interest rate. For example, you may have a better debt-to-income (DTI) ratio and credit score today than when you first secured your mortgage, which could mean you qualify for lower rates.

Home purchase vs. refinance loans by year

202120202019
Home purchase loans26.54%24.27%50.06%
Refinance loans47.78%58.21%30.56%
Cash-out refinance25.50%15.61%18.90%
Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

HELOC and home equity loans

Nbkc bank offers HELOCs, but you must be a resident of the Kansas City metro area to qualify. The company doesn’t offer home equity loans as of publishing.

Nbkc bank doesn’t list specific credit score requirements for HELOCs, though it does state you need a “good” credit score. According to Experian, a good credit score is a score of at least 670. Most HELOC lenders require at least 15% equity in your home.

Nbkc bank’s HELOC has a seven-year draw period with interest-only payments. You can make regular withdrawals up to the credit limit during this period. After the draw period closes, you’ll begin repayment, which consists of principal and interest payments until the balance is paid off.

A HELOC could be a good option if you need consistent access to cash for a long period of time — for instance, if you’re working on a home improvement project bit by bit over time. Keep in mind that HELOCs generally carry variable interest rates, which can fluctuate based on market conditions.

Requirements

Nbkc Bank doesn’t disclose its borrower requirements online. In most cases, you’ll need a 620 credit score to qualify for a conventional loan. You’ll also need to offer at least 3% down (although 20% ensures you won’t have to pay mortgage insurance).

Government-backed mortgages, like FHA loans and VA loans, typically have lower credit score requirements. You’ll likely need a score of at least 500 for an FHA loan and at least 580 for a VA loan. Lenders may require 10% down on FHA loans if your credit score falls between 500 and 579; otherwise, a 3.5% down payment should suffice. Down payments often aren’t required on VA loans.

National mortgage requirements by type

Min. credit scoreMin. down paymentCompare with other lenders
ConventionalTypically 620Typically 3%Mortgage lenders
FHA5003.5% with 580 credit scoreFHA lenders
VASet by lender (often 580)0%VA lenders

For other loan types, read our guides on USDA loans.

Costs and fees

Nbkc bank isn’t particularly transparent regarding its mortgage fees. Most lenders charge an origination fee of about 0.5% to 1% of the loan amount. This fee is included in the total closing costs, which are usually around 2% to 5% of the loan principal.

You should receive a Loan Estimate shortly after you apply for a mortgage. This covers all the estimated closing costs and gives you an approximate cash-to-close amount. Further along in the process (right before closing), nbkc gives you a Closing Disclosure, which details the exact costs and fees of your loan.

FAQ

How does nbkc bank work?

Nbkc bank offers several types of home loans. You can start the mortgage application online and work with an nbkc representative along the way. You can also apply by phone or at a physical location in the Kansas City area. Mortgage documents are delivered electronically or via overnight shipping. Nbkc arranges for the appraisal and title work prior to closing.

Is nbkc bank legit?

Nbkc bank is a legitimate option if you’re looking for a home loan. It promises competitive rates, but, as with any lender, you need to apply for preapproval to see your offers. Overall, it’s worth checking out nbkc bank if you’re looking for a purchase loan or refinancing options.

Where is nbkc bank available?

Nbkc bank’s mortgages are available in all 50 states. There are two in-person branches in Missouri and two in Kansas.

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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Aug. 31, 2022

Our complicated situation involved being part of protective program and we were researching all the ways we could continue to stay safe while purchasing our first home. The first company we worked with insisted they'd handled this type of situation and could help us. Months of going back and forth with them, continuing to find issues the further along we went.

I called Joe ** at the suggestion of our real estate agent. He was straightforward with his experience and let me know he wasn't the one to work with if we needed A, B & C because he wouldn't want to endanger my family further. In the end, we wanted to work with him. He took the time to explain the whole process, answer all our questions and was in constant contact with us about our loan. We had no issues from putting in our offer to closing and we believe that was due to Joe's thoroughness. He has also been kind enough to help answer a question we had months after closing. 100% would recommend working with Joe **.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: May 4, 2022

My husband and I were 1st time homebuyers so we did not know much about the process. I found NKBC through the Costco Mortgage program, researched the reviews of the 4 providers and ultimately went with NKBC rep Cheryl **. She's a very patient and knowledgeable loan processor. The loan process itself was painless for us. She let us know that we didn't need an appraisal, explained why it was waived, and gave us clear instructions as well as time to gather documents.

Everyone introduced us to their own trusted loan (realtor, attorney) but ultimately we went w NKBC because 1/ rate was the lowest 2/ pleasant experience throughout the process. We received the approval, then due to NY law allowing sellers to close within 30 days on the contract, we had to extend our rate. This process was also pretty painless and thankfully we were able to lock rate because rate almost doubled in 2022.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 6, 2022

    It's always a pleasure working with Ryan ** of NBKC. We've used Ryan and NBKC for two home purchases and several refinances. He is exceptionally knowledgeable and provides great advice that really helped us to make the right decisions. Ryan went above and beyond and really enabled us to purchase a home in a highly competitive market. I don't think we could've done it without the quick service and guidance of Ryan and NBKC. When the seller's realtor, and even our own, tried to strongarm us into using a local lender we refused and insisted on Ryan and NBKC. We won't use anyone else.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 20, 2021

    I went online to compare interest rates for a non-owner-occupied rental property loan. Initially it was nbkc's low rates which caught my eye. Upon inquiry I was immediately in touch with a loan officer who stayed with us through the whole journey. And it was a long one! Pretty much everything about our loan was complicated. We were doing a 1031 exchange from one rental property into another so had proceeds from that, and the loan was the balance to get us up to the asking price of the new property. This was a new build which creates many more moving parts to pull off. Then add to this the fact both my husband and I are self employed so verifying our incomes is challenging, and we had to push the close date back about 4 times.

    It has been a long time since we took out a loan and underwriters these says leave nothing to chance - we had to send in a vast amount of "proof" of our circumstances. But - although this Maggie (our loan officer) was attentive, kind, calm and reassuring. Indeed - it all came together and even with one final hiccup along the way which Maggie sorted straight away - we pulled off the loan amount we needed; the interest rate we'd locked into and bought a rental with sweet ADU over it in Hailey ID. We could not be happier! Thanks Maggie and the nbkc team.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 8, 2021

    It was a great experience with NBKC. I could not recommend them enough to other people. I worked with Kati and she was amazing. We wouldn’t consider switching to another lender because of her. It was a very competitive rate and I didn't feel I had to negotiate with her. She was constantly bringing me the best that was available. One of the best things about her was that she was available at any step of the process. There was coordination that needed to take place and I could call her anytime. Whether we were bidding or negotiating, she was there to kind of lend the support and expertise to the whole process.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 25, 2022

    I had been working with Tony ** the last couples of years. He's very professional and knowledge. He's always available and provide accurate information. He has been coming to me at the right time. Thank you very much for your service Tony. I appreciate it!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 23, 2022

    Ryan is a Rock Star. He is the best at what he does and was incredible throughout our entire home purchasing process. I don’t give out praise easily and I would recommend him and NBKC to any veteran looking to buy a home.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 14, 2022

    The loan officer Beau ** at NBKC Bank was very professional, friendly, and responded to every question even when he was off. I would also like to thank everyone that helped through the process. Would definitely recommend everyone to do business with them.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 6, 2022

    We have used Kurt several times and he never has disappointed us. He is a pleasure to work with. The application process went smoothly from the beginning of obtaining the appraisal to getting the final closing documents to the signing process. I would highly recommend Kurt to anyone.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 4, 2022

    My previous experience with NBKC had always been excellent, 3 refinances. In the past NBKC sold the mortgage, no problem.. Not this time, instead they are servicing the mortgage internally under the name of Devonshire, beyond awful. I have automatic withdrawals from my checking account for the mortgage payment. 1/06/22 the mortgage withdrawal was nearly double**. Calling the Devonshire was a complete waste of time, NOBODY knew anything. I spent 3 hours on the phone with no resolution at all. I was dumbfounded. Determined not to be robbed, I have been on the phone with Devonshire for a total of nearly 23 hours.

    Here is what I learned—Through my insurance agent, I consolidated my insurance policies which changed carriers for the mortgaged home. At no time was I without coverage. All was done through the same agency. Devonshire took upon themselves to set up an escrow account charge me for insurance, and withdraw the amount from my checking account., citing lapse of insurance coverage. I did get the insurance company involved to verify that I never had a lapse in coverage. My agent has been in the business for over 30 years and never in her experience had such a terrible dealing with a mortgage carrier.

    A 5 minute phone conversation and a quick fax usually suffices. Multiple faxes followed with mailed hard copies just got nothing accomplished. She has indicated she has over 10 hours of her time involved. It is now 05/05/22, and I still haven’t received a refund check from Devonshire (NBKC). I pray every day they will sell my mortgage. STAY AWAY!!!

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    ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page. Specific sources for this article include:
    1. Federal Financial Institutions Examination Council, “HMDA Data Publication.” Accessed Sept. 21, 2022.
    2. Experian, “What Is a Good Credit Score?.” Accessed Sept. 21, 2022.

    nbkc bank Company Information

    Company Name:
    nbkc bank
    Address:
    8320 Ward Parkway
    City:
    Kansas City
    State/Province:
    MO
    Postal Code:
    64114
    Country:
    United States
    Website:
    www.nbkc.com