Neighbors Bank - Review of Services
Disclaimer: This is a promotional review of services for Neighbors Bank, an affiliate of Mortgage Research Center, LLC. Neighbors Bank is not affiliated or endorsed by the U.S. Dept. of Agriculture or any government agency.
Neighbors Bank is a state-chartered bank licensed in 48 states, specializing in personalized home loan solutions for borrowers of all credit backgrounds. As a Top 5 USDA lender, they also offer FHA, VA, Conventional home loans, and Down Payment Assistance along with online savings accounts to support your financial goals.
Neighbors Bank is an Equal Housing Lender specializing in mortgage origination and works with borrowers to determine the best home loan product to meet their financial needs. This includes offering $0 down loans such as USDA loans, as well as FHA loans and conventional loans.
After changing its name from Clarence State Bank, Neighbors Bank focused its efforts on digital solutions for its customers, including an improved website and mortgage portal.
Neighbors Bank loan specialists are trained to offer USDA home loans among other mortgage options. If you’re looking for a USDA lender, here’s what you can expect from Neighbors Bank.
Neighbors Bank focuses on helping everyday homebuyers access affordable mortgage options that fit their needs, often through government-backed loans or down payment assistance options. With a streamlined online process and dedicated loan advisors, the company aims to simplify what can often feel like a complicated journey.
Many borrowers turn to Neighbors Bank because of their experience with rural and first-time homebuyer programs, competitive rates, flexible communication, and customer service.
In general, Neighbors Bank typically requires a minimum credit score of 620 for all loan products, though lower scores may be considered on a case-by-case basis with strong compensating factors. Even if your credit isn’t perfect, Neighbors Bank may still be able to help. They offer a free credit coaching program that helps you build your credit. Because they offer different mortgage products, other requirements will vary.
“When someone reaches out to Neighbors Bank, especially a first-time homebuyer, we know how important it is to make that first step feel easy and comfortable,” said Jake Vehige, President of Mortgage Lending at Neighbors Bank. “That’s why we offer two ways to get started—you can either talk with one of our expert Homebuying Specialists or complete our online prequalification on your own time.”
The Neighbors Bank online prequalification form is a simple and secure way to start your home loan journey, and it only takes a few minutes to complete. The information you provide is protected with advanced encryption, so your personal details stay safe. Once submitted, a loan expert will review your info and match you with loan options that fit for your needs.
“If you choose to connect with a Homebuying Specialist, the initial call is straightforward. We’ll ask a few questions about your basic information, income, and liabilities. From there, we’ll walk through your options and, if it makes sense, help you gather the documents you’ll need for preapproval. Once those are submitted, your Loan Officer will take a closer look and evaluate your next steps.”
Prefer to go at your own pace? Neighbors Bank has you covered there, too.
“If you’d rather skip the phone call, the online prequalification process is quick and easy. You can answer those same initial questions and upload your documents at your own pace. That gives your Loan Officer a chance to review everything ahead of time and follow up to talk through your options.”
Regardless of which path you choose, the Neighbors Bank team is committed to making the process approachable and transparent from day one.
“No matter how you get started, our team is here to guide you, answer your questions, and support you every step of the way,” Vehige said.
Neighbors Bank is a legitimate mortgage lender licensed to operate in multiple states. It’s FDIC-insured and regulated like any other financial institution. While “bank” is in the name, their core business revolves around helping people secure home loans
Online reviews and testimonials highlight the bank’s responsive customer service and knowledgeable loan advisors, especially for borrowers navigating USDA and FHA loans for the first time.
“Transparency and trust are some of the most important parts of our job. Our team is constantly monitoring lending guidelines to make sure we’re giving people the most accurate, up-to-date information. We don’t want anything to be a surprise, and we don’t take it lightly that folks are trusting us with one of the biggest financial decisions of their lives. We believe that setting realistic expectations is just as important as finding the right loan. At the end of the day, we’re committed to making sure you feel heard, supported, and comfortable every step of the way. We want you to know that someone is truly looking out for you throughout this process, ” Vehige said.
Neighbors Bank specializes in USDA guaranteed loans, a government-backed mortgage option designed to make homeownership more accessible in rural and suburban areas. Their focus is on helping low- to moderate-income borrowers achieve their dream of homeownership by providing personalized guidance throughout the loan process. As one of the top five national USDA lenders by volume, their team is well-versed in the unique requirements of USDA loans, ensuring that borrowers receive tailored support to navigate eligibility criteria, property requirements, and the application process.
“Our mission is to make homebuying more affordable, accessible, and achievable—especially for first-time homebuyers or other underserved borrowers. The USDA loan is a powerful tool that helps us do just that. With no down payment requirement, it can open the door for borrowers who may not have thought homeownership was within reach,” Vehige said.
There are often other costs associated with buying a home. Many buyers are choosing to leverage the USDA home loan so they can keep some cash on-hand to cover these additional expenses comfortably.
“Buying a home isn’t just about the price on the listing. Costs like appraisals, inspections, and closing fees can really add up, and they’re easy to overlook when you’re focused on just finding the right house. We make a point to talk about those early in the process so nobody feels blindsided later. It’s all about setting the right expectations and making sure buyers are fully prepared,” Vehige said.
Mailing Address: 3621 Discovery Parkway, Suite 115, Columbia, MO 65201
Main Phone Number: 1-833-514-4190
NMLS: #491986
CEO: Melissa McNutt
