Overview
nbkc bank
3.5%
620
FHA, VA
30 Days
26 Years
Quicken Loans
3%
620
FHA, VA
30–50 Days
40 Years
Ratings
nbkc bank
Quicken Loans
Pros & Cons
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
Quicken Loans
PROS
- Licensed to lend in all 50 states
- Daily updated mortgage rates available on website
- Streamlined approval and loan process
- Online application and mortgage management
- Private mortgage insurance (PMI) payment options
CONS
- No USDA loans
- No home equity loan options
Reviews
nbkc bank
Reviews
Quicken Loans
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.
Reviews for Quicken Loans
Helpful Favorable Review
JUDY PARSONS
March 20th, 2023
Lake Luzerne, NY
DETAILS
Bryan and Anthony from Michigan were wonderful and so helpful through the whole progress. I was amazed at how quickly and easy to apply with Rocket Mortgage. They are skilled and very knowledgeable. They always called back on my messages with questions and concerns that I had and they addressed them. They were so professional and very friendly. I felt like I could trust them from the first phone conversation. Amazing from the beginning.
Helpful Critical Review
Julita Varner
November 12th, 2022
Sylvania, OH
DETAILS
HORRIBLE! Quicken Loans screwed up EVERYTHING! The most egregious issue is they collected funds that were to be held in escrow for taxes but failed to pay the taxes. I found out when I received a notice of delinquency and that's when Quicken told me they reduced my closing costs and I was supposed to pay my taxes directly. They said "sorry" for NOT telling me this and for having to increase my monthly payments by $257 to make up the shortage. Fortunately, I can shift some things to make the payment but what if, like many people, I couldn't afford it? Absolutely SHAMEFUL!!!
The Final Word
To compare NBKC Bank and Quicken Loans, let’s take a closer look at what the companies offer and what customers have to say about each company:
Loan Types
Special Programs
Time to Closing
Customer Reviews
Loan Types
NBKC Bank and Quicken Loans offer similar loan types:
Quicken Loans offers increased flexibility in loan options with a jumbo loan product, as well as the unique YOURgage loan that offers flexible terms from 8 to 29 years.
Based on available loan types, either company would be a good choice, unless you specifically need a jumbo loan for a house purchase beyond conforming limits, or you would prefer more flexibility in your home loan term options, in which case Quicken Loans would be a better choice.
Special Programs
Both NBKC Bank and Quicken Loans offer special programs that can help you save more money on your mortgage.
NBKC Bank
- Costco Mortgage Program — Borrowers with a Costco membership (Executive Membership, Gold Star Membership, or Business Membership status) can receive discounts on NBKC fees, including the origination fee.
- Close-On-Time Guarantee — For qualifying borrowers, NBKC promises to pay you and the loan seller $2,500 each if it doesn’t close on your home loan on time.
Quicken Loans
- PMI Advantage Program — Reduce or eliminate your private mortgage insurance (PMI) payments by choosing to increase your interest rate to cover the cost, or paying your PMI as one payment at closing.
- Good-Faith Deposit — Pay a deposit between $400 and $700 to cover all lender fees. Any remaining deposit balance will be paid towards your closing costs.
Particularly if you have an existing Costco membership, NBKC Bank’s partnership with the Costco Mortgage Program could save you a lot of money. But depending on your needs, Quicken Loans’ programs could be a helpful option for you, particularly if you aren’t able to make a 20 percent down payment and are then required to pay PMI.
Time to Closing
NBKC Bank doesn’t disclose a specific closing time range on its website, but the company does provide a $5,000 close-on-time guarantee.
Quicken Loans on the other hand typically closes on loans in 30 to 50 days, which is faster than the industry average of 40 to 65 days.
Customer Reviews
On BestCompany.com, 95 percent of NBKC Bank reviews are 5-star reviews, and the company has a 5-star rating in all customer sentiment categories: value, quality, service, trustworthiness. NBKC customers most frequently highlight the following about their experience with the company:
- Exceptional customer service
- Transparent and frequent communication from loan officers
- Quick and easy loan process
- Competitive interest rates
The majority of NBKC customers also mention the Costco Mortgage Program, through which they were able to save more on their mortgage.
Quicken Loans, on the other hand, has a greater mix of reviews: 61 percent of reviews are 5-star reviews, while 21 percent are 1-star reviews. While most customers are satisfied with the company services and products, some Quicken Loans complaints detail negative experiences with customer service, as well as overall displeasure with the company’s transparency regarding fees and the closing process.
Based on customer reviews and ratings alone, NBKC Bank would be our top-recommended mortgage company.
Frequently Asked Questions
Is Rocket Mortgage the same as Quicken Loans?
Yes, Rocket Mortgage and Quicken Loans are the same company. Quicken Loans recently changed its name to Rocket Mortgage, the platform through which home loans are serviced and processed.
QuickenLoans.com remains operational, but you will be redirected to Rocket Mortgage to apply for a home loan.
Does NBKC Bank sell its mortgages?
It is a common practice in the industry for mortgage lenders to sell your mortgage to another servicer if necessary. Thus, it is likely that NBKC Bank may sell your mortgage if needed.
Does Quicken Loans sell its mortgages?
Quicken Loans may sell your mortgage, but the company takes pride in servicing the majority of home loans it originates.
