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NBKC Mortgage Review: Great Customer Service and a Focus on Veterans

Review Updated
Matt Frankel, CFP®
Kimberly Rotter, AFC®
By: Matt Frankel, CFP®
Matt Frankel, CFP®
Matt Frankel, CFP®
Writer, Analyst

Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.

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 and  Kimberly Rotter, AFC®
Kimberly Rotter, AFC®
Kimberly Rotter, AFC®
Accredited Financial Counselor®

Kimberly is a career writer and editor with more than 30 years' experience. She's a bankruptcy survivor, small business owner, and homeschool parent. In addition to writing for The Motley Fool, she offers content strategy to financial technology startups, owns and manages a 350-writer content agency, and offers pro-bono financial counseling.

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Eric McWhinnie

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NBKC is primarily an online mortgage lender with operations in all 50 states. It also has a few branch offices concentrated around Kansas City, Missouri. The company waives origination fees for veterans. In this review, we'll take a closer look at NBKC Mortgage, the pros and cons of using this mortgage lender, and whether it might be a good fit for you.

Ratings Methodology
NBKC Mortgage

Best for: Rate transparency

NBKC Mortgage

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor

Bottom Line

NBKC offers a low origination fee and doesn't charge the fee at all for veterans. NBKC also doesn't require a lot of information to get rates, so it may be worth checking out.

Min. Credit Score 580 FHA 620 Conventional

  • 580 - 620

Min. Down Payment

  • 0% - 5%

Key Features

  • Rate transparency
  • Low origination fee
  • On-time closing guarantee

Loan Types

  • Conventional
  • FHA
  • VA
  • Jumbo

Fixed Rate Terms

  • 30y, 25y, 20y, 15y, 10y

Adjustable Rate Terms

  • N/A

Top Mortgage Lenders

It's important to compare mortgage lenders so you understand all your options. Here are a few of our favorite lenders, listed side by side so you can see how they each stack up against their competition:

Lender Min. Down Payment Credit Score Next Steps
  • 3%
  • 580
Circle with letter I in it. 580 FHA 620 Conventional 680 Jumbo
Apply Now for Better
  • 0% - 3%
Circle with letter I in it. 0%-3.5% (FHA & VA loans) 3% (conventional loans)
  • 580 - 680
Circle with letter I in it. 580 FHA 620 other mortgage products
Apply Now for Rocket Mortgage®

Full NBKC Mortgage review

This lender is a good fit for: Pilots, VA loan borrowers, and low/moderate-income borrowers in select Missouri and Kansas counties.

Pros

  • Transparent rates
  • Zero down payment for eligible lower-income borrowers
  • Low cost VA loan
  • Pilot loan
  • $5,000 on-time closing guarantee

Cons

  • Some products only available in Kansas City metro area
  • No USDA loans

Top perks

Rate transparency

With other mortgage lenders, borrowers submit a lot of personal information to get a glimpse of mortgage rates. But NBKC Mortgage doesn't work that way. A borrower can access this lender's current rates by filling in some basic (nonpersonal) details, such as home price, down payment, and credit score range. Of course, there's no guarantee every borrower will actually qualify for NBKC Mortgage's best rates. Nevertheless, this is still a high level of mortgage rate transparency. Plus, NBKC's rates tend to be very competitive with those of other lenders.

Competitive origination fee

NBKC Mortgage's $250 standard origination fee is quite competitive with many of its peers. It's worth noting that NBKC Mortgage is far more transparent about its fee than many competitors. Plus, NBKC Mortgage does not charge origination fees for VA loans (other lenders charge up to 1% of the loan amount).

Customer service

NBKC Mortgage has top ratings for customer service. Just to name a few, the lender has an A+ rating with the Better Business Bureau and a 4.9 out of 5 star rating on Zillow. 

Available in all 50 states

NBKC Mortgage is licensed to originate mortgages in all 50 states. 

Some branches

NBKC is primarily an online bank, but does have four physical branches (all in the Kansas City area -- that's what the KC in NBKC stands for). This could make it a particularly appealing choice for borrowers in that area. 

Pilot loan

If you happen to be in the microcommunity of airline pilots, you'll get special attention here. NBKC Mortgage understands that this profession has unique quirks when it comes to verifying income, especially for those transitioning from military to civilian life. NBKC Mortgage specializes in deciphering pilots' income (often irregular) and work contracts to get qualified pilot borrowers approved for a mortgage.

On-time closing guarantee

If NBKC Mortgage doesn't close your loan on time, you and the seller both get $2,500. There are reasonable requirements to qualify for this benefit.

What could be improved

Limited branch network

NBKC has a few branches where borrowers can get in-person assistance. But this is only a perk if you're located in the Kansas City area. If you aren't within a reasonable driving distance of Kansas City and want face-to-face help, look elsewhere.

USDA loans not available

USDA loans let qualified borrowers purchase homes in certain rural areas with 0% down. According to its website, USDA mortgage loans aren't on the menu. NBKC Mortgage says it can offer USDA loans, but it's not clear if this is a referral to a partner lender. A big part of NBKC's draw is its customer service, and it's hard to know if that perk will apply to partners. Check out our list of best USDA lenders to find a lender that offers this type of mortgage.

Customer service availability

NBKC has highly-rated customer service. However, its home loan support is only available from 8 a.m. to 7 p.m. CST on weekdays. It is not available on weekends. Your loan processor might still choose to answer emails and messages outside of business hours. Still, NBKC Mortgage might not be the best option for borrowers who need to handle mortgage issues outside those hours.

HELOC availability

NBKC Mortgage offers home equity lines of credit, or HELOCs, with extremely competitive variable rates, but only to borrowers in the Kansas City area.

How to qualify

The qualifications you'll need for NBKC's mortgages depend on the type of loan you're applying for. The minimum credit score requirement for a VA loan is undisclosed. FHA loans and conventional mortgages require a minimum of 580 and 620, respectively.

However, credit score requirements don't tell the whole story. You'll need to submit information about your debt-to-income ratio, employment history, and assets to qualify. Fill out an application to find out whether you qualify and what interest rates and terms you could get.

To apply for a mortgage loan with NBKC Mortgage, start at the online portal with either a short or long application. The long version has more detail (read: less to do later). Whichever version you choose, a loan professional from the bank will call you to complete your application.

How are NBKC Mortgage's refinance rates?

NBKC's refinance rates trend about the same as the national average. Like many lenders, NBKC Mortgage charges a higher rate for refinance loans than for purchase loans. When we checked, the difference was about one-eighth of 1% (for the most well-qualified applicants).

How are NBKC Mortgage's rates compared to the national average?

NBKC Mortgage's rates trend lower than the national average. The lowest advertised rate assumes that you will be willing to pay for mortgage discount points. NBKC's interest rates are low enough that you can still score a very low cost loan even if you choose to save that fee and opt for a slightly higher rate.

NBKC Mortgage is right for you if:

  • You'd like a VA mortgage loan. NBKC Mortgage waives its origination fee for veterans.
  • You want to save money. NBKC Mortgage has a competitive origination fee. It also prides itself on offering some of the lowest mortgage rates around.
  • You're a pilot. NBKC Mortgage is an expert when it comes to mortgages for pilots.

Did You Know? NBKC is also a bank. Check out The Ascent's complete NBKC Bank review.

FAQs

  • NBKC Mortgage's rates trend about the same as the national average, but you'll need to pay for mortgage discount points to get the lowest rate.

  • Yes, if one of its loan options meets your needs. Rates and fees are very competitive, and past customers rate NBKC's customer service very well. The only downside is that NBKC Mortgage doesn't offer as wide a variety of loans as some other lenders.

  • Yes, especially if you are in a declining market and you want to lower your rate. NBKC Mortgage offers competitive pricing on refinance loans, and a special program for homeowners whose homes have lost value.

  • You'll need a credit score of 580 and a down payment of at least 3.5%. If you qualify for a VA loan, you don't need a down payment. It's best if your debt-to-income ratio is under 43%, but some applicants will qualify with a higher DTI.

  • NBKC Mortgage offers these mortgage options:

    • Conventional loan
    • FHA loan
    • VA loan
    • Refinance loan
    • Refi Plus™
    • Fixed-rate mortgage