In March 1999, Horizon National Bank opened its doors in Leawood, Kansas. Under the leadership of then-President Steve Matthews, the bank rebranded as National Bank of Kansas City in 2004 to stop an overlap with First Horizon Home Loans. One year later, Matthews oversaw the move of the headquarters to a new location in Overland Park, Kansas to improve the bank’s efficiency by consolidating over 100 employees split between two locations.
In 2008, Brian Unruh replaced Matthews as President and CEO and broadened the bank’s mission by adding three new tenets: listen intently, strive to simplify and embrace the culture. Renamed NBKC in 2015, this financial institution continues to incorporate technology to make both business and personal banking, loans and credit cards easy to manage regardless of your location.
Up until the passage of the Check 21 Act which allows banks to do more electronic processing, there were still some things that required a quick trip to the bank or the ATM, like making deposits to your account. Even then, if you needed to apply for a loan, the trip to the bank was anything but fast. The leadership at NBKC believes that banking should be a thing you do, not a long and drawn-out task that you undertake. To make this happen, they have been partnering with various companies to develop the tools to make banking simple.
- NBKC is a full-service mortgage lender specializing in purchase, refinance and VA home loans.
- Named one of the Best Places to Work in 2017 by the Kansas City Business Journal.
- Apply for and get pre-approved for a mortgage online.
- Anyone in the US can set up an online account with NBKC. If you are more comfortable speaking with someone in person, there are no physical branches outside of the Kansas City area.
NBKC Mortgage Products
NBKC provides purchase loan, VA loan and home refinancing options. The use of technology lets NBKC close new loans in about 26 days while refinances take around 27 days to close. You can compare that with the industry average of 47 days for a new loan and 40 days for a refinance. Shorter closing times means lower expenses, which show in NBKC’s rate quotes. You’ll see quotes around 0.25% lower than what you’d get from larger banks.
NBKC home loan products: If you’re shopping home loan products, NBKC offers conventional, FHA and VA fixed-rate and adjustable purchase loans. They also offer mortgage refinancing and jumbo loans. If you’re a veteran, NBKC specializes in VA loans, with VA loans accounting for 36 percent of their mortgages.
NBKC FHA loans: FHA loans are great for those with fair to good credit scores and require less out-of-pocket cash. NBKC offers a downpayment as low as 3.5 percent with FHA loans.
NBKC ARM loans: ARM loans with NBKC have a fixed interest rate of five years. This is a good loan choice if you plan on moving before the five years is up.
NBKC VA Loans: NBKC offers VA loans with no lender, processing, origination or underwriting fees. You’ll find competitive rates in all 50 states.
NBKC Refinance: NBKC gives you the choice between a streamline and regular refinance loan.
Refi Plus Program: If you have a mortgage through Fannie Mae and have made your monthly payments on time but find your real estate investment is depreciating due to declining home values, you might check out NBKC’s Refi Plus Program. This program lets you refinance without Private Mortgage Insurance (PMI) as long as you don’t have PMI on your current loan.
Keep in mind, you need a 620 FICO credit score to refinance your home and regardless of the equity in your home, you can’t take out more than $250 cash out of the refinance.
NBKC fees and rates: Mortgage rates change constantly and depend on your personal circumstances. NBKC has you answer a few questions like what your credit score is and what type of loan you want. These questions make sure you’re getting a realistic quote for something you qualify for. Each quote you receive from NBKC includes a rate, APR, lender fees and a monthly payment amount with principal and interest.
NBKC’s loan origination fee is $675 which does not include fees for third-party services like title and appraisal searches. If you’re a member of Costco’s mortgage program, your origination fee with NBKC will be $275 or $575, depending on your membership.
We tested NBKC’s process to find out your interest rate. After filling out the seven questions, (state, appraised value, downpayment amount, property type, credit score and veteran status), we got five quotes for a 30-year fixed, 15-year fixed and 5/1 ARM loans. Below is our results for a 30-year fixed loan.
NBKC Mortgage Process
Thanks to NBKC’s advanced use of technology, you can complete your entire mortgage application online. If you’d rather speak with someone, you can complete the application over the phone. If you do the process online, you have the ability to stop during the middle of the process and come back to the spot you left off, upload documents from your computer and track your application’s status online or through NBKC’s mobile app. No matter which way you choose to apply for a mortgage, you’ll have a dedicated loan officer working with you along the way. If you’re looking to get pre-approved, this process can be handled online as well. In addition to customer service help over the phone, NBKC uses an online chat feature on their website so you can chat with a loan officer or representative in real time.
NBKC Personal Banking and Loan Products
NBKC describes itself as “a modern, FDIC-insured bank based in Overland Park, KS, driven to make banking simple and transparent, unlike any other bank. Leveraging technology, customer feedback and innovation, NBKC helps people and businesses safely save, move and borrow money — whenever, wherever they are.” The wide range of offerings shows that the bank is living up to its description.
NBKC’s online processes make their services available to customers anywhere in the US. In 2014, NBKC created required document list that is customized for mortgage loans since not every loan application needs the same documentation. Two years later, the bank partnered with Flowfinity Wireless Inc. to develop an app that allows field inspectors to record information about the progress of construction projects, create budgets and to allow for funding disbursements for construction loans much faster.
In 2017, the bank replaced their online mortgage loan application tool. Partnering with Roostify, a new company that provides a mortgage loan platform with a more efficient, transparent loan process and allows faster closings. The result is that NBKC’s customers can apply for a mortgage in 20 minutes without having to call or visit with a loan officer. Finally, a partnership with Gro Solutions helped bring about a platform to make signing up for a bank account even faster.
Personal Checking and Personal Money Market:
- Interest bearing account
- MoneyPass ATMs usage free and up to $12 a month in refunds for ATM fees other banks charge
- $5 to open with $0 minimum balance
- Comes with a Debit MasterCard and a box of checks
- $5 for Domestic wires to anywhere in the U.S
- $45 for international wires (to send or receive)
- Online banking
- Returned electronic or paper items
- Overdrafts or NSFs
- Using Bill Pay on your phone, tablet or desktop
- Deposit checks at a branch, or through the NBKC app on your phone or tablet
- Help from your NBKC banker on the phone, via email, or in person
- Free cashier’s checks
- Stop payments
- Incoming domestic wires from anywhere in the U.S.
Home Equity Line Of Credit (HELOC)
- Variable rate line of credit
- Credit extended depends on equity in your home
- Use for home improvements, bill consolidation, college education, or purchasing a new car
- Loan amounts start at $5,000
- Available in terms of 36, 48, and 60 months
- Fixed mortgage rates for 10, 15, 20, 25, and 30-year loans
- ARM loan
- FHA loan
- VA loan
NBKC Costs and Fees
|Cost To Open||Fees or Terms|
|Personal CD/IRA CD||$1,000||3, 6, 12, 18, 24, 36, 48 and 60 months|
|Personal Loan||Loan amounts start at $5,000||N/A|
|Auto Loan||N/A||36, 48, and 60 months|
|Mortgage Loan||N/A||Fixed mortgage rates for 10, 15, 20, 25, and 30-year loans|
The Better Business Bureau gives this BBB-accredited bank an A+ rating (4.97 out of 5 stars) based on 823 positive, 16 neutral, 12 negative reviews and two customer complaints. Both complaints were addressed quickly by NBKC. Nearly 5,500 new homeowners on Zillow.com rated the bank well, giving it a 4.89 out of 5-star rating. Many Zillow reviewers were happy to report that they used NBKC more than once for their home loan needs. Customers frequently said that their closing costs were less than expected and they closed on time while using phrases like “personable and seamless,” “outstanding service” and “professional, reliable and transparent.” The CEO of NBKC personally responds to every review, thanking the customers.
NBKC Product-related Q&A
How secure is NBKC?
Aside from being FDIC insured, NBKC uses multi-factor authentication to ensure that no one can access your financial records. This is the strongest security available for electronic transactions.
What is the bank’s mortgage loan process?
The four-step mortgage loan process eliminates any uncertainty and confusion:
- Your application: apply online or call.
- Documents delivery: documents are sent electronically or by overnight delivery.
- Appraisal and title work: NBKC sets this up with local companies.
- Closing: occurs at a title company or attorney’s office in your area.
How can I open an account or get a mortgage loan from NBKC when I don’t live in Kansas?
Apply online or by phone and the NBKC loan officers will work with appraisers and attorneys in your area to get the local work done.
Does NBKC offer any help for financial management?
The site has 17 easy-to-use calculators to help you figure everything from retirement planning to mortgage costs. You can also speak to or have an online chat with a bank representative who can help you or refer you to the resources you need.
Why would I trust my money to NBKC when they don’t even have a branch in my state?
With NBKC’s proven track record for customer service, embracing technological advances and highly qualified and experienced employees, we can recommend that anyone do his or her banking with NBKC. It is likely that you will have fewer hassles as an NBKC customer compared to your local banks.
In all the research we did, NBKC proved to be a strong company. Because of the high level of security, there are little-to-no identity theft concerns with using an NBKC online account or their mobile app. Banking with this company is hassle-free given the streamlined account application process and transparent fee information. NBKC treats employees well, which translates to little turnover across the company. For the customer, this means more experienced employees move through banking processes quicker. Add this to the excellent reviews from current customers, and we are confident recommending that anyone try NBKC.