Overview
Better.com
5%
620
FHA
20–30 Days
9 Years
nbkc bank
3.5%
620
FHA, VA
30 Days
26 Years
Ratings
Better.com
nbkc bank
Pros & Cons
Better.com
PROS
- Online application process
- No lender fees
- Highly-rated customer service
CONS
- No VA or USDA loans
- No home equity loan options
nbkc bank
PROS
- Lower fees with a Costco membership
- $5,000 on-time closing guarantee
- Low-credit loan options available
- Highly-rated customer service
CONS
- No USDA loans
- No jumbo loans
Reviews
Better.com
Reviews
nbkc bank
Reviews for Better.com
Helpful Favorable Review
Luke Swierczynski
November 10th, 2021
Troy, MI
Edited January 28th, 2022
Review Source
Was curious how the experience would be given all the advertisements they had. When purchasing our current home I did get a quote from Better.com but despite advertising zero commission or lender fees they still cost more than the company I ultimately used for my mortgage. I wouldn't recommend them purely based on the cost involved. I personally wouldn't use them but for a certain type of borrower it might make sense. It just didn't click for me.
Helpful Critical Review
Robert Kudler
November 9th, 2021
Merrick, NY
DETAILS
Verified Customer
Review Source
They have higher rates than competitors. Loan officers are often very young. I closed one loan with them but then they couldn't refi another house I own because they said they can't include the rental income from the property which makes no sense. This was weeks after I initially applied and I had a high interest loan so I wasted thousands waiting on them to eventually tell me they can't help me.
Reviews for nbkc bank
Helpful Favorable Review
Brian Dunbar
February 2nd, 2022
Minneapolis, MN
My Experience with NBKC bank Was awesome Their rates was low and because of that it gave me the opportunity to own my 1st home. And we close on time as promise. I will definitely recommend using this bank .
Helpful Critical Review
Stepho Connolly
February 6th, 2020
Kansas City, MO
DETAILS
Pros: Online system is easy to understand and intuitive, can communicate via email with loan originator over email, appraisal came back quickly. Cons: Does not have the most competitive rates or fees and could not match competitor rates, refused to transfer appraisal we paid for giving a BS excuse then when we pointed out it was indeed possible said he didn’t want to spend any more time on a loan he wasn’t going to close. So in summary, will never use this company to close in the future. Doesn’t have best rates nor best customer service.
The Final Word
Better.com and NBKC Bank are comparable mortgage lenders. Let’s take a closer look at what each company offers:
Mortgage Rates
Fees
Mortgage Process
Loan Types
Refinance Options
States Serviced
Customer Reviews
Mortgage Rates
According to customer reviews, in particular, both Better and NBKC offer low mortgage rates.
Both companies offer an option to receive a personalized mortgage rate based on specific data that you would provide, including your estimated home value, home location, down payment, etc. This can provide you with a helpful estimate of your mortgage rate. However, the rate you receive is not guaranteed and will likely change.
Fees
Better has no lender fees — no application, origination, processing, or underwriting fees. This is possible because Better primarily sells mortgage loans on the secondary market to make a profit. Buying and selling loans is a common practice in the industry, and so while your loan will be sold if you choose to work with Better, it isn’t necessarily a bad thing or something that you could avoid with other lenders.
NBKC has an option to lower fees with a Costco membership. NBKC is a partner in the Costco Mortgage Program which can help borrowers make significant savings on closing costs, in particular.
Mortgage Process
Better and NBKC both have entirely online application processes. This makes it much faster and easier to apply for a mortgage, and typically results in a much faster closing time.
In customer reviews for both companies, customers often mention how they were able to close quickly on their loan. NBKC also offers a $5,000 on-time closing guarantee, ensuring that you either close on time or get compensated.
It is worth noting that Better truly does take care of everything online, including closing, but NBKC customers will have to go to a local title company or attorney’s office to close on their home loan.
Loan Types
Compared to other mortgage lenders, Better and NBKC offer limited loan type options.
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Refinance Options
Both Better and NBKC offer mortgage refinancing. But neither company offers any home equity options, such as a home equity loan or home equity line of credit (HELOC).
States Serviced
NBKC is licensed to lend nationwide, but Better’s services are unavailable in Hawaii, Massachusetts, New Hampshire, and Nevada.
Customer Reviews
Better and NBKC are both highly rated mortgage lenders on BestCompany.com — 95 percent of Better.com reviews are 4-star or 5-star reviews, and 95 percent of NBKC reviews are 5-star reviews.
Better.com customers frequently highlight the following from their borrowing experience:
- Personalized and responsive customer service
- A fast process (many customers closed much sooner than they expected)
- Everything is taken care of online
- Low rates
NBKC customers frequently highlight the following in reviews:
- Outstanding customer service (frequently mentioning specific loan officers by name)
- Low rates
- Closed on time
Based on customer reviews, we recommend both Better.com and NBKC Bank for your mortgage needs.
Frequently Asked Questions
Is Better.com a direct lender?
Better.com is a direct-to-consumer lender, originating and underwriting loans in-house. However, your loan will likely be sold after closing, since the company makes a profit from selling loans on the secondary market. This also allows the company to cut out all lender fees.
Is NBKC a direct lender?
NBKC is a direct lender. The company originates and underwrites loans in-house.
How long does it take Better.com to close on a home loan?
Better.com doesn’t provide a specific time to close on its website, but customer reviews frequently highlight how quickly the company was able to close on their home loan.
How long does it take NBKC to close on a home loan?
NBKC doesn’t outline a specific time to closing, but it does provide a $5,000 on-time closing guarantee. Eligibility for the on-time closing guarantee requires that you schedule your closing date at least 30 days from the day your mortgage contract was signed and dated.
