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BNC National Bank Mortgage Review 2023
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.
BNC National Bank at a glance
| Minimum credit score: 580 to 620 Minimum down payment: 0% to 3.5% Available loan products and programs: Conventional, FHA, VA, USDA, jumbo |
Our verdict: BNC National Bank offers all of the traditional home loan programs and can be an especially good match if you want a VA loan; however, borrowers should compare any offers as BNC doesn’t publish their interest rates or fees.
| Pros | Cons |
|---|---|
Nationwide availability Offers a wide range of mortgage products Specializes in VA loans | No published rate or fee information No advertised home equity products Few branch locations |
Established in Bismarck, N.D. in 1990, BNC National Bank (BNC) has physical branches mainly in Ariz. and N.D, but is headquartered in Overland Park, Kan. It offers mortgages nationwide and specializes in mortgage loans backed by the Department of Veterans Affairs (VA).
BNC National Bank mortgage products
Conventional
- BNC offers conventional loans with 30- and 15-year terms and adjustable-rate mortgage (ARM) options
- Mortgage refinancing, including cash-out refinance, is also available
- Regarding minimum mortgage requirements, you’ll need at least 3% down payment and at least a 620 credit score
FHA
- Loans backed by the Federal Housing Administration (FHA) have less stringent credit score and debt-to-income (DTI) requirements than conventional loans
- BNC offers FHA purchase and refinancing home loans
- You’ll need a 3.5% minimum down payment
VA
- BNC features purchase and refinance VA loans
- The VA doesn’t require a minimum down payment or set credit score, but VA lenders generally require a score of 620
Jumbo
- Jumbo mortgage loans allow you to borrow more than the conforming loan limit
- To qualify, you’ll need to meet strict requirements, including a high credit score and a low DTI
Special programs
- USDA loans. The U.S. Department of Agriculture (USDA) backs rural mortgage loans for people who have low to moderate income. You can see the eligibility map here.
- Homeowner assistance programs. Borrowers such as first-time homebuyers can work with BNC to find a program.
- Special financing. If you have a special financing need, such as a home construction loan, BNC may still be able to help you.
BNC National Bank mortgage rates and fees
BNC doesn’t publish its mortgage rates or fees on its website. You can look up current mortgage rates to see what interest rates are on the market. As for typical fees, the 2021 national average mortgage closing cost was 1.01% of the average home sales price – about $3,860.
| Mortgage rates published online? | |
| Rate information updated daily or weekly? | |
| Lender fees disclosed? |
BNC National Bank application experience
You can apply for a BNC National Bank mortgage online or in person at a branch. If you don’t have a home in mind yet, consider getting a mortgage preapproval so that when you make an offer on a home, you can show sellers that you’re financially capable. Then once a seller accepts your offer, you finalize the application with the lender.
It’s important not to take the first mortgage offer you get, though. Make sure you shop around and compare rates.
BNC National Bank customer service experience
You can call BNC National Bank at (913) 647-7000 Monday through Friday from 8:30 a.m. to 5 p.m. CT. You can email them anytime at [email protected].
How does BNC National Bank compare to other lenders?
| BNC National Bank | Homepoint | Rocket Mortgage | |
|---|---|---|---|
| Lender rating |  |  |  |
| Minimum credit score | 580 to 620 | 580 to 620 | 580 to 620 |
| Minimum down payment | 0% to 3.5% | 0% to 3.5% | 0% to 3% |
| Loan products and programs |
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How we rated BNC National Bank
LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.
LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.
BNC National Bank scorecard: 3/5
Publishes rates online
Offers standard mortgage products
Includes detailed product info online
Shares resources about mortgage lending
Provides an online application