BNC National Bank Mortgage Interest Rate and Cost Review

Is BNC National Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by BNC National Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.04%)
Loan Related Closing Costssimilar to average (-$175)
National Rate and Closing Cost Rating(3.5)

On average, BNC National Bank’s interest rates were similar to those of other lenders (-0.04%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$175. Overall, combining interest rates and closing costs we estimate that BNC National Bank tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

BNC National Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track BNC National Bank was most active in:

  1. Wichita, KS
  2. Washington, DC
  3. Los Angeles, CA
  4. Springfield, MO
  5. Seattle, WA

You can click through to check out BNC National Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

BNC National Bank’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, BNC National Bank originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.00%-0.01%+0.01%+0.02%-0.02%
Loan Related Closing Cost Difference+$26+$6-$21+$62-$87
Cost Adjusted Rate Difference+0.01%-0.01%+0.01%+0.03%-0.03%
Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.07%-0.01%+0.00%-0.01%-0.07%
Loan Related Closing Cost Difference-$217-$39-$36+$9-$413
Cost Adjusted Rate Difference-0.08%-0.01%+0.00%-0.01%-0.08%
Star Rating(4.0)(3.5)(3.5)(3.5)(4.0)

As a summary, BNC National Bank is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA purchase mortgages. For refinancing, BNC National Bank is cheap for Conforming and VA mortgage refinance. It is similar to other lenders for FHA, Jumbo and USDA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about BNC National Bank:

Registered name: Bnc National Bank
Registered city and state: BISMARCK, ND, 58501
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: BNCCORP, INC.

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for BNC National Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.