
Ally Bank
4.9 Bankrate ScoreAlly Bank began offering direct-to-consumer home...
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This lender has a limited physical footprint, but it works for borrowers looking for an entirely online application process, fast prequalification and preapproval and excellent customer service.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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Loans offered
Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; refinancing
Min. credit score required
620 for conventional loans, 680 for jumbo loans, 620 for FHA loans, 620 for VA loans
Nationwide availability
Available in all U.S. states
Min. down payment
3% for conventional loans, 3.5% for FHA loans, none for VA loans
NMLS: 409631
4.8
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; refinancing
Nationwide Availability
Available in all U.S. states
Min. credit score required
620 for conventional loans, 680 for jumbo loans, 620 for FHA loans, 620 for VA loans
NBKC Bank is an online and brick-and-mortar lender, established in 1999, that provides a variety of mortgage options, including conventional and government-insured loans, refinancing and home equity loans. In addition to home loans, NBKC Bank offers traditional banking products and services as well as other types of loans. For in-person applications, NBKC Bank has four brick-and-mortar locations: Kansas City, Missouri; Liberty, Missouri; Leawood, Kansas and Overland Park, Kansas.
Loans and services available nationwide, with easy online application process
Excellent customer service and fast response rate from loan officer
Onsite origination, processing, underwriting, closing and funding
$5,000 closing guarantee
Doesn’t offer USDA or mobile home loans
No down payment assistance programs
Only four brick-and-mortar locations (around the greater Kansas City area)
This lender has a limited physical footprint, but it works for borrowers looking for an entirely online application process, fast prequalification and preapproval and excellent customer service.
To determine NBKC Bank’s Bankrate Score, Bankrate’s editorial team rated it and other lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. (Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews.) We derived its overall score by considering three basic factors:
Affordability differs from lender to lender, so comparing costs is key. NBKC Bank’s mortgage rates are comparable to Bankrate’s averages. The bank ended a marketing program with warehouse retailer Costco, so all borrowers now get the bank’s lowest fee of $250 (with the exception of VA borrowers, who still pay no fees).
This factor can make the overall mortgage application process smoother or more challenging. NBKC Bank provides conventional loans, FHA and VA loans, construction loans and home equity loans. The bank has just four physical branches, but it does business nationally.
Know what to expect when you work with a specific lender. NBKC Bank has been in business for more than 20 years. It is accredited by the Better Business Bureau and has an A+ rating from the organization. NBKC Bank offers borrowers the option to get prequalified and preapproved for a mortgage online. To get prequalified, you’ll need to provide basic personal information like your employment history. You’ll also need to provide details about the purchase price and type of home, the loan amount and down payment. If you provide the required information, you could get prequalified the same day, and preapproved within 24 hours. You can also apply for a home loan entirely online.
You can apply for a purchase loan or a refinance in person at one of NBKC Bank’s branch locations or via the bank’s website. If you have questions about a loan, representatives are available Monday through Friday from 8 a.m. to 8 p.m. CT and weekends 8 a.m. to 5 p.m. CT.
Here are some tips to prepare for the process:
NBKC Bank refinances existing mortgages. Before you start, think about your goals. Are you refinancing to adjust your current mortgage’s rate and term? Do you want to tap into home equity? Do you want to change loan programs, such as refinancing out of an FHA loan into a conventional mortgage? Once you’ve settled on those details, you can apply through the bank’s website, at a branch location or via its call center.
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Rating: 4.8 stars out of 5
4.8
Bankrate Score
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Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; refinancing |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment property; flex-term |
Min. credit score required 620 for conventional loans, 680 for jumbo loans, 620 for FHA loans, 620 for VA loans |
Min. credit score required 620 for conventional loans, 700 for jumbo loans, 580 for FHA loans, 620 for VA loans |
Min. credit score required 620 for conventional loans, 680 for jumbo loans, 580 for FHA loans, 580 for VA loans |
Down payment 3% for conventional loans, 3.5% for FHA loans, none for VA loans |
Down payment 3.5% for FHA loans |
Down payment 3% for conventional loans; 10%-15% for jumbo loans; 3.5% for FHA; none for VA loans |
Nationwide availability Available in all U.S. states |
Nationwide availability Available in all U.S. states |
Nationwide availability All U.S. states |
NMLS: 409631
4.9
110 ratings
This lender has 0 reviews.
96% of customers would recommend this lender.