BNC National Bank (First Federal) Mortgage Review 2024

Good for: borrowers looking for a particular loan type, such as government-backed; manufactured or modular; and jumbo loans for investment and multifamily properties.
Phil Metzger
By
Last updated on January 31, 2024
Edited by
✅ Fact checked and reviewed
Johanna Arnone
Edited by
✅ Fact checked and reviewed

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

  • 50+ mortgage lenders reviewed and rated by our team of experts.
  • 40+ years of combined experience covering mortgages and financial topics.
  • Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
  • Governed by NerdWallet's strict guidelines for editorial integrity.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.

Our Take

3.5

Home loans overall
NerdWallet rating
The Nerdy headline:

BNC's mortgage division has been acquired by First Federal Bank, so borrowers will want to consider First Federal's loan options.

Jump to:Full Review
First Federal Bank
First Federal Bank: NMLS#408902

Min. credit score
620
Min. down payment
3%
Loan types and products
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, Home Equity, USDA
at First Federal Bank

Pros

  • Offers government-backed loans and some harder-to-find products, such as jumbo loans for investment and multifamily properties.
  • Home renovation loans are available.
  • Offers home equity loans and lines of credit.

Cons

  • Mortgage rates are not published online.
  • Bank branches are limited to eight states.
  • Consumers might have trouble finding contact information.
Compare best mortgage lenders
Lender
Min. credit score
Min. down payment
Andrews Federal Credit Union
5.0
Read review
620
3%
NBKC
Visit Lenderat NBKC
at NBKC
620
3.5%
620
3%
620
3%
620
0%
View more
Get more smart money moves — straight to your inboxBecome a NerdWallet member, and we’ll send you tailored articles we think you’ll love.

Full Review

Based in Florida, First Federal Bank announced its acquisition of BNC National Bank's mortgage division in June 2023. First Federal Bank offers a wide variety of mortgage and refinance loan types and products, including home renovation options and government-backed FHA and VA loans.

It also finances less commonly offered loan types, including jumbo loans for second homes and investment and multifamily properties; loans for modular and manufactured homes; and an option for construction-to-permanent loans.

Loans are available in all 50 states, and borrowers can apply online or by phone. Bank branches are limited to Florida, Georgia, South Carolina and Wisconsin, as well as BNC’s locations in Arizona, Illinois, Kansas and North Dakota, so applying in person won’t be an option in most states.

» MORE: Read the full First Federal Bank mortgage review

More from NerdWallet:

at First Federal Bank

Find the best lender

Best mortgage lendersBest lenders for first-timersFind the best mortgage rateHow much house can I afford?
Methodology

NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).

NerdWallet Pixel