BNC National Bank Mortgage Review


Best benefits

VA loan experts

BNC National Bank is a strong VA lender, climbing steadily through the ranks of the major VA lenders nationwide. By the end of 2021, BNC expects to have granted nearly triple the number of VA loans it made in 2018. This lender is a specialist in VA loans and a great resource if you qualify. To be eligible, you must be one of the following:

  • service member
  • Veteran
  • Employee of the Ministry of Defense
  • NOAA employee
  • National Guard
  • Reservist
  • Cadet or Midshipman of the American Military School
  • Eligible surviving widow
  • Public health officer
  • Served in some organizations during WWII

Excellent customer service

BNC Bank has an excellent reputation for customer service. When we checked out, BNC had 4.7 out of 5 stars on Zillow, with thousands of reviews. Many borrowers write that BNC has made efforts to proactively meet their needs and close on time. BNC also has an A + rating from the Better Business Bureau, which means that when customers have a problem BNC National Bank tends to respond.

Low down payment mortgages

BNC National Bank offers several options to borrowers who want to buy a home with a low down payment, including:

  • VA loan: Zero down
  • USDA loan: Zero down payment (for low to moderate income borrowers who purchase qualifying homes, typically in rural areas)
  • FHA loan: 3.5% drop
  • Home loan loan: 3% discount (for low to moderate income borrowers)
  • Home Loan possible: 3% discount (for low to moderate income borrowers)

BNC also offers other low down payment mortgages for borrowers in certain states.

Digital mortgage

If you are ready to apply, you can go straight to the website and get started at your convenience, from a computer or phone. You can manage your mortgage application through the app and a loan officer will help you. BNC does not yet offer a fully remote shutdown, but plans to do so in 2022.

Construction loans

A construction loan allows you to buy land and finance the construction of a house. Most construction loan borrowers only pay interest while their new home is being built (they always pay their housing expenses elsewhere, after all). When construction is complete, the loan is converted into a traditional mortgage.

BNC Banque Nationale offers construction loans, which can be difficult to find.

What could be improved


BNC National Bank does not publish mortgage rates on its website. You may find BNC’s rates on a third-party website, but there is no way to easily find them. Instead, you can price loans on a site and then see if BNC is on the options list.

Rates aren’t the only factor to consider, but they are an important part of the home buying transaction. Even a fraction of a percent can dramatically change the total cost of your loan.

Through our research, we found that BNC is indeed a leader when it comes to rates, but it was difficult to find out. BNC National Bank promises updates to its website in the very near future, and we hope this will provide a rate quotation tool.

HELOCs only available for bank customers

If you are looking for a home equity loan or HELOC, look elsewhere, unless you have a deposit account with BNC.

For many borrowers, a cash refinance loan is a better option when interest rates are very low. But under certain circumstances, a home equity finance product works best. For example, if you:

  • Have a reason to keep your current mortgage
  • You only want to borrow the exact amount you need, not a dollar more
  • Expect to pay off the extra loan in no time

In these cases, a HELOC might be a better option, and you should compare BNC’s options with those of other lenders.


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