NBKC Bank Mortgage Review 2023

How Bankrate scored NBKC Bank

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: NBKC Bank’s mortgage rates are in line with Bankrate’s averages. The bank charges a flat fee of $250 for most loans, but there’s no fee for VA borrowers.
• Availability: This bank has a small physical footprint, but it lends in all 50 states. It has a diverse set of loan offerings for different kinds of borrowers.
• Borrower experience: You can initiate a request for a rate quote and apply for a mortgage via the NBKC website, and its loan officers are available on weekends.

• Methodology

  Bankrate's expert editorial team collects lender information through a variety of methods. We contact lenders directly, and we also turn to regulatory filings and to assessments by third parties. Our research takes into account three main factors – affordability, availability and borrower experience.

  Bankrate's reporters and editors have decades of experience covering the mortgage industry. They're skilled at gathering information through interviews and by scouring regulatory filings. Bankrate evaluates more than 85 lenders for factors relating to affordability, availability and customer experience, assigning each a Bankrate Score out of five stars. Here's how we assess each of the categories:

  • Affordability. Loan cost is a deciding factor for many borrowers. We look at two metrics: 1) a lender's lowest advertised annual percentage rate (APR) based on Bankrate's sample scenario, which assumes a 740 or higher credit score and a 20 percent down payment, among other factors and 2) established-customer discounts or incentive pricing, when applicable.
  • Availability. Another factor is how quickly your loan application will be approved, and how many loan programs the lender offers. So we evaluate approval and closing timelines and diversity of loan products.
  • Customer experience. Finally, we delve into what it's like to deal with the lender as a consumer. We look at the lender's application process and availability of customer service support. We also consider the results of J.D. Power's 2022 Mortgage Origination Satisfaction Survey.

  Bankrate's editorial team confirms the accuracy of data at the time of publication. Our team is dedicated to maintaining the timeliness of information – the mortgage industry is changing constantly, so we regularly revisit these reviews to update them.

  Bankrate's methodology page spells out our rating process in greater detail.

Affordability: 5/5

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).

Availability: 4.5/5

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.

Borrower experience: 5/5

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.

How to apply for a mortgage with NBKC Bank

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:

1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with NBKC Bank

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.