|Loan Types||Home purchase, refinance|
|Featured Loans||VA, Jumbo, FHA, IRA lending, USDA|
|Repayment Terms||10 to 30 years|
|Minimum down payment||0%|
|Minimum credit score||580|
|Best For||Investors, military personnel, first-time homebuyers|
North American Savings Bank offers a unique range of mortgage products including fixed-rate and adjustable conventional loans, FHA loans, VA loans, refinances, and a unique financing program for the purchase of rental real estate with an IRA. It was founded in Kansas City, Missouri in 1927, and continues to offer loans through 11 branches in Missouri and through its online portal to borrowers from around the United States.
NASB specializes in tailoring mortgages to the following types of borrowers:
North American Savings Bank offers conventional and non-conventional loans to suit different personal and financial circumstances. Customers benefit from the following features:
The application process varies between the different types of loans. As a general rule, NASB is quicker to approve borrowers than the average lender. Pre-qualifying can be done online or over the phone, and usually takes just a few minutes. For a conventional loan, NASB will then ask you for the following in order to decide if it can offer you a loan:
|Large selection of mortgage products||Charges payment fees to non-NASB account holders|
|Caters to people with unique situations||No physical branches outside Missouri|
|Entire application can be done online|
North American Savings Bank excels at tailoring programs to people in unique financial situations. It’s one of the few lenders in the country to offer a program enabling IRA account holders to use their IRA to purchase rental properties. With its non-conforming loans, it’s also one of only a handful of lenders to go out of their way to provide a space for people with very poor credit or with a recent history of bankruptcy or short sale to find a way back into the housing market.
Perhaps the main downside to NASB is that it doesn’t offer real-time information about rates and APRs unless you fill out a short online form and include your contact details. NASB doesn’t have physical branches outside Missouri, although this isn’t such a big deal given it offers home buyers from around the country the chance to conduct the entire application online and by phone.
North American Savings Bank offers the following types of loans:
Loan terms and APRs vary for the different types of loans on offer. For example, conventional fixed-rate loans are offered over 15-year or 30-year terms. IRA non-recourse loans are offered for 10-year, 15-year, or 20-year terms. VA loans and FHA loans are available for terms of up to 30 years.
To speak to a loan officer, call 855-465-0753 between business hours, request a call from a loan officer at a time convenient to you, or contact one of NASB’s loan officers directly. To enquire about IRA lending, call 866-735-6272 during business hours or email NASB. The online feedback for North American Savings Bank’s mortgage is overwhelmingly positive, with customers praising loan officers for attention to detail and their willingness to go the extra mile for them.
North American Savings Bank specializes in solutions for military veterans, real estate investors, and home buyers who are unable to find a lender due to unique financial circumstances, first-time buyers and non-conforming buyers.
North American Savings Bank
12498 S. 71 Highway
Grandview, MO 64030