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finder.com’s rating: 3.8 / 5.0
★★★★★
Conventional: 620
Minimum credit score
3%
Minimum down payment (Conventional)
Available in all states
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, Refinance |
---|---|
Minimum credit score | Conventional: 620 |
Minimum down payment (Conventional) | 3% |
State availability | Available in all states |
NMLS # | 418467 |
BNC National Bank is not currently available on Finder
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BNC National Bank is a top VA loan originator that offers home loans nationwide and retail branches in seven states. What makes it different from other lenders is its experience with VA lending and its willingness to reduce or waive its origination fees on certain loans. So, you may be able to save with a BNC mortgage, especially if you have good credit.
BNC claims that its loan officers have years of industry experience to help guide you to the right loan. This is important if you’re the type of borrower who needs more guidance during the home loan process. And while its website is slim on details, we like that it has great reviews from thousands of customers and only a small number of complaints on the Better Business Bureau website.
But it doesn’t have a huge selection of loans to choose from, so if you’re after a specialized loan for a unique circumstance or a home equity product, you’ll need to look elsewhere.
To find out if you’re eligible for a BNC National Bank home loan, visit the company’s website. Basic eligibility for a mortgage loan includes:
Here’s a list of documents you’ll need to apply for a home loan from BNC National Bank.
For employed persons:
For self-employed persons:
The costs and fees you’ll pay depend on the type of loan. As of May 2021, BNC’s standard origination fee is $1,095 for non-VA loans. However, borrowers with good credit scores may be eligible for reduced fees or have them waived altogether.
As a general rule of thumb, you can expect to pay about 2% to 5% of your loan’s total value in fees and closing costs, which may include:
To get started:
After submitting your application, you may be instructed to call the company about the next steps or asked to provide additional documents.
BNC National Bank also offers these specialized types of mortgages.
Note that while BNC lists the Harp 2.0 refinance option on their website, this loan program for homeowners who are “underwater” on their mortgages expired on December 31, 2018.
Compared to other lenders, BNC National Bank offers a standard range of home mortgage options, including conventional, FHA and VA loans — but no specialty loans or home equity products.
If you’re looking for a wider selection of loans, including USDA loans, renovation loans, condo loans, HELOCs and more, consider Draper & Kramer Mortgage. It’s been in business for over 125 years and has considerable depth and breadth of knowledge of the real estate industry.
On the other hand, if you’re after a fully digital lending experience with no origination fees and a minimum of hand-holding from your loan officer, consider Better or Beeline. Visit their websites and fill out an application 24/7 to get a quick preapproval decision.
Get started finding the perfect mortgage for your lifestyle and needs. Select See rates to get a personalized quote today.
As of August 2021, BNC National Bank has a 4.7 out of 5 rating on Zillow from 2,306 customers. BNC National Bank is also accredited with the Better Business Bureau (BBB) and has an A+ rating with only a couple of customer complaints registered over the last three years, which is unusual for a financial institution. As of August 2021, BNC National Bank is rated 2.67 out of 5 stars based on nine customer reviews.
The bank’s online reviews from mortgage customers mention excellent service from loan officers, who met or exceeded customers’ expectations in terms of communication, helpfulness and closing costs. While not as frequent, negative reviews mention unprofessionalism and a lack of communication from loan officers. BNC responded to these comments online and pledged to rectify these problems going forward.
Founded in 1991, BNC National Bank is a full-service bank headquartered in Bismarck, North Dakota, with its mortgage division based out of Overland Park, Kansas. In addition to mortgage lending, it offers community banking and wealth management services. Since its inception, the bank has funded over $11 billion in home loans for 40,000 customers.