nbkc bank

Based on our customer reviews for a home loan, we recommend nbkc for buyers who are looking for a lender with competitive rates and that excels in customer service.

Many reviewers praised their loan officers by name and felt the whole mortgage process went smoothly. nbkc is a good choice for individuals with complicated loans or income histories, since it is willing to work with you one-on-one to get financed.

However, we don’t recommend nbkc for buyers looking for a USDA loan or a jumbo loan. For buyers wanting a completely online mortgage experience, another lender might be a better choice.

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We rated nbkc excellent for rates and application process. These were the two features that customers praised the most. Our data shows that historically, nbkc has had lower interest rates than the national average between 2019 and 2021.

We rated this lender good for loan types, requirements and costs and fees because we feel there is room for improvement and transparency in these areas.

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.

We rate nbkc’s home purchase rates as excellent because its rates have been lower than the national average from 2019 to 2021. 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.

One reviewer said, “Ultimately we went with NKBC because [the] rate was the lowest.” Another reviewer shared a similar sentiment, saying, “We have now worked with NBKC twice while buying homes. They consistently lock in the best rates and have the best customer service.”

nbkc average home purchase rate vs. national average

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.

A few reviewers described the application process as easy and said documents were processed quickly.

“Process was super easy. Online application was simple.…” said Maria from Atlanta, Georgia. “We were ready to close well before my closing date and my loan was a rush! Less than 30 days.”

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 application features

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.

We rated the lender as good for loan types because it doesn’t offer USDA loans or jumbo loans at the time of publishing. However, a couple of reviewers were happy with the types of loans they received with nbkc.

Keith from Fontana, California said, “[The loan officer] made my V.A. refi both seamless and painless, every step of the way and for that I am truly grateful.”

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

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.

Our reviewers have used nbkc for difficult loan transactions, and the more complicated a deal, the more requirements you will have to meet. One Idaho customer was looking for a lender to do a 1031 exchange with a non-owner-occupied rental property loan that was also a new build. 

“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,” they said. “It has been a long time since we took out a loan and underwriters these [d]ays leave nothing to chance - we had to send in a vast amount of "proof" of our circumstances.”

National mortgage requirements by type

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.

While we did mark nbkc down for not publishing its fees, reviewers seem happy with the closing costs. “The final fees were very similar to the initial quote; no surprises,” said one reviewer.

Kyla from Washington D.C. also had a good experience with the fees: ““[The loan officer] was able to beat all others rates and closing costs, and it was a wholly seamless process. From start to finish, it took less than four weeks (including a week of Christmas/New Year's holidays right in the middle).”

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.

Compare nbkc to other lenders