Mortgage
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BNC National Bank Mortgage Review 2022

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BNC National Bank is a full-service retail bank based in Bismarck, N.D. Founded in 1990, the bank launched a digital mortgage business in the mid-2000s, which has its base in Overland Park, Kan. The company has mortgage offices in Arizona, Illinois, Kansas, Michigan, Missouri and North Dakota, but its loans are available nationwide through the company’s website and call center.

Who is this lender for?
  • First-time homebuyers
  • Military servicemembers and veterans seeking a VA loan
  • People who plan to move again in the near future
  • Families who expect their incomes to rise in the near future

7/10 LendingTree’s mortgage lender rating 

LendingTree’s mortgage lender rating is based on a 10-point scoring system that factors in several features, including digital application and closing processes, available loan products and online and in-person accessibility. LendingTree’s editorial team calculates each rating.

  = 1 pt   = 0 pts

  1.   Application online: Yes
  2.   Product info online: Yes
  3.   Rates listed online: No
  4.   Helpful articles about mortgages and homebuying: Yes
  5.   Standard product offerings: Yes
  6.   Special programs: Yes
  7.   Info about how to qualify for products offered online: No
  8.   E-closing availability: No
  9.   Licensed in at least 35 states: Yes
  10.   After-hours and weekend access to loan officers: Yes

BNC National Bank pros and cons

Pros

  Special mortgage payment programs. BNC National Bank offers both interest-only and graduated payments on its mortgages, which can help families afford to buy their new home if they’re anticipating future increases in their income.

  Loan officers who specialize in serving military families and first-time homebuyers. The company has loan officers who are specially trained in the VA loan program and in first-time homebuyer programs — making them able to offer high-quality service to these borrowers.

  Fully digital mortgage application. BNC says customers can apply for a mortgage from their phones and communicate with their loan officers by email or text.

Cons

  Rates and qualifying information not available online. BNC National Bank doesn’t publish its current mortgage rates online, nor does it state the minimum credit score required to qualify for a loan.

  Home equity loans not available online. While you may be able to get a home equity loan if you live near a BNC National Bank branch, they aren’t available through its national lending platform.

  Branches only available in a few states. If you want in-person service, BNC National Bank might not be convenient. The bank only has four branches and seven retail mortgage offices, primarily in the Midwest.

BNC National Bank borrowing requirements

Minimum credit scoreNot disclosed
Minimum credit score 
  • Not disclosed
Minimum down payment 
  • 0% VA and USDA
  • 3% Conventional
  • 3.5% FHA
Available loan terms 
  • 10- to 30-year fixed-rate mortgages
  • Adjustable-rate mortgages with initial fixed-rate periods of 3, 5, 7 or 10 years
Available loan types 
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Interest-only

BNC National Bank mortgage rates and fees

BNC National Bank doesn’t publish current mortgage rates online, nor does it disclose its lender fees. You’ll need to speak with a loan officer to find out what you might qualify for and what you might need to pay at the closing table.

BNC National Bank mortgage products

Purchase and refinance

BNC National Bank offers conventional fixed-rate mortgages with terms ranging from 10 to 30 years. The bank also offers adjustable-rate loans with initial fixed periods of three, five, seven or 10 years. Jumbo loans are available for families who need a larger loan than a traditional program will cover.

The lender’s government loan programs include FHA loans, VA loans and USDA loans. FHA loans usually offer a down payment as low as 3.5%, and can be a good option for first-time buyers. VA loans and USDA loans don’t require a down payment for qualified borrowers.

Special programs

BNC National Bank offers interest-only loans and graduated payments on its mortgages. Both programs feature lower payments for a certain period of time, helping families get into a home they otherwise couldn’t afford.

With interest-only loans, you don’t make a principal payment until the end of the interest-only period, when it converts to a fully amortizing loan. In the graduated payment program, monthly payments start lower and then gradually increase over a period of time until it becomes fixed.

How does BNC National Bank compare to other lenders?

BNC National BankZillow Home LoansAmeriSave Mortgage
Minimum credit score 
  • Not disclosed
  • 580 (FHA)
  • 580 FHA and VA
  • 600 USDA
Minimum down payment 
  • 0% VA and USDA
  • 3% Conventional
  • 3.5% FHA
  • 0% (VA)
  • 0% VA and USDA
Loan products and types 
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Conventional
  • FHA
  • VA
  • Conventional
  • FHA
  • VA
  • USDA
Special programs offered 
  • Interest-only
  • Graduated payment
  • Zillow Offers
  • Solar financing
Lender ReviewZillow Home LoansAmeriSave Mortgage

 

Today's Mortgage Rates

  • 4.87%
  • 4.19%
  • 3.31%
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