NBKC Bank Home Loans is a direct mortgage lender accredited through the Better Business Bureau with an A+ rating. They also have over 7,500 impressive customer reviews and are a top choice for government-backed VA loans.
With loan solutions available in all 50 states, on-site mortgage processing, and exceptional customer service, NBKC Bank Home Loans may be a viable option for you.
Mortgage Application Requirements
Before you apply for an NBKC Bank mortgage, you should gather these documents:
- Two years of W-2’s (that demonstrate 24 months of employment history)
- Paycheck stubs for the past month
- Proof of income from other sources, like child support
The loan officer will use the debts present on your credit report to calculate your outstanding obligations. You should also provide documentation for debts not listed on your credit report.
- Two most recent bank statements if you receive any large deposits (to document the source of funds for your down payment, closing costs and prepaid items)
- Required documentation for gift funds (if they are allowed for your loan)
Types of Home Loans Available
Whether you’re seeking a conventional or government-backed loan product, NBKC may be able to assist. NBKC Bank Home Loans features these offerings:
Conventional Fixed-Rate Mortgage
Fixed-rate mortgages are available through NBKC. The interest rate and monthly payment (for principal and interest) remain constant over the life of the loan.
Although 10, 15, 20, 25, and 30-year loan terms are available, most borrowers opt for a 30-year repayment period. However, you have the option to choose a shorter term (assuming you’re eligible) if you want to pay off your home loan sooner and save a bundle in interest.
For conventional loans, you will need a minimum credit score of 620.
Conventional Adjustable-Rate Mortgage
You can also get an adjustable-rate mortgage (ARM). These loan products typically give you a fixed interest rate for the first five years, followed by a rate that increases over time.
ARMs can be costly if you do not refinance once the fixed-rate term ends. So, you should only consider this loan if you will relocate before the interest rate becomes variable or know for sure that you will secure a fixed interest rate through refinancing.
Do you want a fixed-rate mortgage that’s a bit more flexible than other traditional loan products? If you can’t qualify for a conventional loan or don’t have the cash on hand to make the transaction work.
Consider an FHA loan as it’s backed by the Federal Housing Administration and can allow you to purchase the home of your dream with as little as 3.5% down. You could also get approved with a slightly higher debt-to-income ratio and the minimum credit score for FHA loans is typically 580.
If the home you’re considering exceeds the conforming limits, you can apply for a jumbo mortgage. Be mindful that the qualification criteria are more stringent. You will more than likely need a good or excellent credit score, higher down payment, and lower debt-to-income ratio.
VA Home Purchase
These loans are available for service members, veterans, and qualifying relatives and feature low interest rates. NBKC offers VA loans in all 50 states, and if approved, you won’t pay any loan origination, underwriting, or processing fees.
VA Streamline Refinance Loan
Do you have a VA loan and would like to explore refinancing to lower your payment? A VA Streamline Refinance Loan (or Interest Rate Reduction Refinancing Loan) may be worth considering as you can possibly lower your interest rate to little to no money out of pocket.
You can use this option to tap into your home’s equity if you have a conventional, VA, or FHA loan.
FHA Streamline Refinance
These loans can be used to lower principal or interest payments. It is also ideal if you need to adjust the loan terms, switch from an adjustable-rate to a fixed-rate mortgage (or vice-versa), or change who’s listed on the title.
This product is exclusively for Fannie Mae mortgage holders and allows them to refinance without Private Mortgage Insurance to save money.
NBKC Bank is one of the few mortgage lenders that can fund VA and FHA loans in all 50 states and D.C. However, they do not offer USDA mortgages, home equity loans, home equity lines of credit (HELOCs), reverse mortgages, or construction loans.
NBKC Rates and Fees
NBKC mortgage rates and lender fees vary by loan product. You can use the online tool to get an idea of the terms you may be eligible for. Or you can apply directly from the website or call 833-513-9015 to discuss potential options with a loan officer.
NBKC’s Mortgage Process
NBKC Bank makes it easy to apply for a home loan that works for you. When you’re ready to get started, you will follow this four-step process to reach the finish line:
Step 1: The Application
You can apply online or by calling 1-800-375-8096. Once your loan application is complete, a loan officer from NKBK Mortgage will reach out to you.
Step 2: Document Delivery
Loan documents are sent to you electronically or via postal mail via overnight delivery. This prevents loan processing delays, and you are expected to return any signed documents promptly.
Step 3: Appraisal and Title Work
NBKC Bank will order an appraisal for the property from a licensed appraiser in your area. The online lender will also coordinate with the seller or real estate broker to conduct the title work and get the property’s legal status through title insurance.
Step 4: Closing
Once all required documents are received, and the loan is finalized, an advisor from NBKC will reach out to review the fine print. The final step in the NBKC Bank mortgage process is to attend the closing, typically held at a title company. However, some closings are also held at attorneys’ offices.
To learn more about the mortgage process, contact the home loans support hotline at 800-375-8096. Representatives are available Monday through Friday from 8 am – 7 pm CST to answer your questions or concerns.
NBKC Bank was formerly known as the National Bank of Kansas City. This award-winning lender prides itself on delivering exceptional customer service to its customers. Plus, the entire process, from origination to funding, is handled in-house. So you won’t have to worry about documents getting lost or wonder what’s going on with your loan.
Whether you want to purchase a new home or refinance your existing one, NBKC Mortgage is worth considering. They’re an award-winning national mortgage company that’s licensed to do business in all 50 states. Plus, they offer an assortment of loans to choose from, making them an ideal option for prospective buyers from various financial backgrounds.